Member Info for Not2sure

Mike I did also say yesterday that we needed new money and this sort of clears the decks for a while and cheap way of raising

To be fair that was ivans I think but out of all the rns that IRR have released this has possibly signalled the huge near term potential the company is sitting on

They need you over at solgold TheWorks you will feel much more at home there !

Lol everyone on here has been here for considerably longer time than you thanks

Not sure how any which way you can spin that into a buy !

start to a Monday morning ..probably go down sp wise but hey ho

When the funds were raised back in 2020 it was explained those funds were for drilling across IRR multiple assets..well they have accelerated their drilling operations and have already exceeded the original MOU with Geodrill and with todays news of further rig on Lithium at Ewoyaa i am expecting a new update of a further drilling contract and therefore further share issues which may possibly explain the mute response to the news today

Jp went after the big prize..if the last drill had hit a commercial find then there would be no trail of vitriol from disgruntled shareholders..just saying..no need to reply as am well aware of most pis thoughts but I believe the statement above is true

Slightly unusual for IRR as many buys around the same price whereas in the past would have made the sp pop up a bit..having said that the last time we had some small algo trades take the sp down into the close the market sort of ignored them the next day and carried on from the position before the little trades

I do not know how many Geo have sold or are still holding but they get their shares at a discount to the market value but then they cannot sell for 3 months after each issue..each invoice has been paid 50/50 shares and cash so they may be holding but on the other hand after the agreement was first signed and the sp was low they may have taken advantage of the sp rise to 20p ish and off loaded some of the earlier granted shares

Fwiw my take on the sp performance is that we now have Geodrill selling as and when they are able to coupled with the clients of SI who took part in the fundraises off loading some of their shares..now the clients may well be done but Geo will continue and whilst there is not enough buying volume to offset these sales we generally tend to drift down..having said that a corporate event of some kind could change all of that..if not we will have the inevitable raise probably at a discount and carry on drilling and proving up the resources..the excitement that the lithium provided before was not sold into in any great amounts until investors realized that market was a longer time frame which maybe just maybe about to reappear on their radars

Marked

I will go along with that UK ..a bit of bs and i think they did it once before and the market marjed the sp down straight away

Yes but they have upped the amount of drilling..i would like to think so they can prove up the resource before somebody comes sniffing trying to get a gold resource on the cheap..more funds needed before june next year if I were to take a guess

Hi atg you trying to take over my mantle of the messenger with bad news with that fund raise shout..there was me thinking that was my domain lol

Probably was

The Geo arrangement was for 4 million US or 40000 metres ..that was for the equity part as i understand it and we are paying 50% of invoices in cash..it was also in 2 x 2million dollar stages..we still have some legroom on the first stage as i believe we are at circa 850,000 to 900,000 equity invoiced to date..but as I said think we maybe eroding funds a little quicker than I anticipated as we up the drilling rate..personally quite annoyed with myself as I thought the price would come back from the 20p mark so started selling as there was no bumper corporate deal announced as VM was trying to intimate and then could not be without them lol so bought them back ..shall just have to wait and see where we go from here

I do not want to appear overly negative but do not think todays Rns is going to help much

Have been doing a few calculations and whilst I had dismissed the idea of a fund raise being the cause of weakness as I thought we had enough to tide us over into next year I think this is possibly a reason for the sp slipping..I know I have been the prophet of doom twice before re fund raises but they did come soon after I called them..I think we are well under 5 million Australian and you always have to think about the raise ahead of the game..we are upping our drilling activity and whilst we have the arrangement in place with Geodrill issuing equity we are still paying them 50% in cash..so far approx £ 900, 000 since they started..throw in all the other costs of surveys ,assays, wages etc we gonna need some more unless of course VM pulls an ace from his sleeve..it is about time after hinting once too often there is something in the offing !!

redknight..I did read your comment and the irony of it was what made me comment myself..if past history is anything to go by then shareholders in the majority of companies run by NM have been rewarded..Solg is in the midst of a huge tug of war between larger shareholders , management , advisors and so on..I should imagine the tactics employed by NM are not set in stone and could change at a minutes notice..personally I think NM has got our interests as top priority because he wants to get the best value out of the project regardless of missed timelines