Member Info for panda1

It's most likely related to stock allocated after the placing - note the 12p price which is the same as the placing

you can still sell shares if you're quick before it's suspended.

Guys - can we please move on. Today's RNS was mixed but we still could see commercial oil & gas production from the well and CAPEX was lower than budgeted. This individual well is just one part of the overall work programme. I'm very happy with the results so far - Echo only needs 2 wells out of 4 at Fraccion C to be commercial for the programme to be a success. The current share price weakness could be an excellent buying opportunity if we get some good news down the line. There's certainly plenty of newsflow expected in the coming weeks.

Manlord - I've sent an email to you at the geoshareholders address.

They weren't really looking for oil at this well. If oil can be produced it will be a big bonus, especially at current oil prices.

I'm very happy with how the work programme is progressing. At Fraccion C, Echo is targeting 2 successful wells out of 4. The first 2 wells have discovered hydrocarbons and could both prove to be commercial after testing. That is an excellent result so far. It's also great news also pleased that the cost of drilling the well was below budget. We now move straight on to the third well in the programme that has the biggest potential out of the four wells.

Lots of people get to hear about a placing in advance but that isn't the case with company news which very few people are privy to. Also the bid has been rising today so that there is no indication of bad news from the price action.

News is due on multiple fronts. I wonder if we'll get several separate RNSs or an operational update.

Yes daramuda that's right. GEO also need to put the extra work in to ensure it's very clear what grade of resource is being mined before it is sent to the JV partner's production facility. The company has also been very clear that the current work programme is fully funded to the production decision. We now have seasoned professionals running the operation that have brought resources into production many times before. I'm very confident that Mike Struthers and Neil O'Brien will deliver excellent returns for shareholders. For those that haven't already seen it, a recent presentation (May 2018) can be downloaded from the company's website http://www.georgianmining.com/cms/wp-content/uploads/2018/05/GEO-Presentation-May-2018.pdf

GEO have to define where the resource is first before finalising the mine site design. If they didn't put enough work into this it could lead to a big error like siting the waste dump on top of a valuable resource.

Mike Struthers was appointed on 21 December 2017 to lead the company into production. He has held senior management positions with leading global mining companies and has a proven track record of bringing resources into production. I have every confidence that he will deliver for GEO. Great buying opportunity IMO whilst other investors are confused about the programme.

The directors are very conscious that the production delays have hit the share price and are now intent on underpromising and overdelivering. It should also be remembered that one of the chief reasons for the delay is that the new discoveries have increased the resource at KB. There is now a well defined programme in place to take the company towards production.

It is best to ignore whether a trade is reported as a buy or sell as it isn't accurate. Any trade below the mid price is reported as a sell and above the mid price as a buy.

They are drilling around the periphery of Gold Zone 2 to delineate the production zone and have taken samples for the metallurgical work that will be included in the feasibility study that will lead to the production agreement. If you think that has nothing to do with production then you are mistaken.

You can't tell if they were buys or sells as the actual RSP bid/ask is very tight at the moment. Just because a trade is transacted at below the mid price doesn't mean it's a sell.

The company has a clearly defined work programme which will result in a production decision in the next few months. I don't know what you're expecting but this is the first batch of drill results.

The BoD couldn't resist issuing themselves cheap share options LOL

Actually, looking at the figures again the discrepancy is due to Los Alamos having 2 target reservoirs and the other wells having only one target. When calculating the NPV10 for Los Alamos, Gafney Cline has taken into account the possibility of gas being discovered in only one reservoir. if both targets are successful, the post-tax mean NPV10 jumps to $17.2 million.

The discrepancy is due to Gafney Cline treating the first well as a contingent resource and the others being prospective. In the NPV10 calculations a GCOS discount of 50% was applied to Los Alamos but not to ELM1004

Yes, it seems very cheap given the prospects of the Assets, the production and the success the company has already had from the current work programme. The placing has hit the share price in the short term but it made a lot of commercial success as $7m is a very substantial saving on the seismic fro Tapi Aike and it will help accelerate the drilling programme there which is what we all want. This will add value to the company. I think the sp has the potential to recover quickly given the forthcoming newsflow so I think the placing has provided a great buying opportunity.