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The funding isn't done. There is no interest rate as Riverfort will be constantly selling shares into the market and then converting at a discount to the share price. I've seen plenty of other companies use this method of funding and it is horrendous for the share price. Even if there is further good news Riverfort will sell into it so you can't win

Obviously they need funds for these orders but I've seen loads of these Riverfront convertible deals and it always leads to a lower share price. I thought the board would be aware of this but there probably weren't many other options in the current environment.

Strangely enough when I saw that horrendous placing this morning by Trackwise TWD I thought it might be difficult for IES to raise funds on reasonable terms. We've had some great news on the recent orders but I do worry that the profit margins will be very slim and it will require significant working capital

Oh no!!!!! Just when it was looking so promising
That's a massive mistake taking a convertible loan with these guys.
It invariably leads to a reduction in the share price when these guys are involved :-((

We should see a steady re-rate from here.
I'm certainly not interested in selling at anything like the current share price.
The company is in a much better position than last year when we saw a big run up in the share price - that was before drilling had got underway in Cameroon

The maiden JORC resource will be considered as a proof of concept. It shows ORR can start from scratch and build a significant gold resource at minimal cost.
I expect this will lead to a JV with a large mining company for the central licence package. With a substantial exploration drilling budget the company will have the opportunity to discover a whole mining district in Cameroon

ORR is fully funded for its field work in 2023. There is also the expectation for further funds from exploration grants and the sale of its royalty position.
I think today's announcement is more significant than the share price is giving credit for. It may be a good opportunity for you to invest the proceeds from your CMET sales

I know the licence area FCM are in negotiations to buy but I am not sure it is appropriate to post the information here.
I hope the company doesn't overpay for it as the vendor only paid around £13,000 for it last year plus issued some shares that weren't worth much

I wouldn't get too excited. The company that FCM is potentially buying the prospect from only paid around £13,000 for it last year as it's very early stage

The company only started drilling Bibemi at the beginning of last year so to get a very good size JORC compliant maiden resource so quickly is very pleasing. This is based on only a small area of the overall project area so there is lots more gold waiting to be discovered to add to this initial resource

The maiden JORC resource is certainly better than I was expecting. Fantastic achievement for the company

Good to see the share price recovering but the market cap is still very low for a high-margin profitable company that owns 100% of a deposit that has a very long mine life. Even if the share price doubled from here it would still be very cheap

Next year is shaping up well for gold to be one of the best sectors to invest

You might not be concerned Fantasy, but I doubt the credit committee's of the Banks will have the same risk tolerance as you have. I really can't see them willing to sign off the loans in the current environment as the risk is too high. Harry will have to kick the can down the road again but will need to fund PLC costs and the ongoing security & other overheads at Tulu Kapi which are in the order of £500k per month

Well Edison didn't seem aware of it otherwise it would have been mentioned in the report released today.
On second thoughts they may have decided that it was best not to mention it given KEFI paid them to produce the report

I'd be very surprised if any funds are received by KEFI given the worsening crisis in Oromia region as reported here:

https://addisstandard.com/news-analysis-civilians-subjected-to-grave-violation-of-human-rights-in-clashes-attacks-by-armed-groups-govt-security-forces-operating-in-oromia-ehrc/

I'd be surprised if the banks are willing to provide funds to build the Tulu Kapi mine in the current environment, particularly with the recent violence in the Oromia region where TK is located.

Are the 8.8million trades yours Troajan?

I just took advantage of the low share price.
The outlook for gold is very positive and I expect to see a very big return from the current share price

The chart looks very bullish and suggests there's a good chance of the share price returning to the area around 80p.
This seems to be backed up by the fundamentals with the recent announcement of very large orders