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Has anyone been in touch with the company to ask whether the recent spike in Covid cases in Sri Lanka is likely to lead to any delays?

69.90p to buy now. Not long now until it's back to a triple figure share price

Market makers are desperate for shares, the ask is now 67.80p

Yes, the placing question was covered.
The company was fully funded until the end of 2022 after which the company would be self-funding from positive cashflows from production. Two things changed this:
1. After detailed work on the 2,500 soil samples that were selected by Anglo American for laboratory assay, the company has new targets which it wants to test for sulphides. This will involve deeper drilling to 500M and beyond. Previously drilling was at a shallower depth up to 200M. This obviously requires a larger budget for drilling but will be game changing for the company if the deeper drilling is successful
2. The opportunity arose to pick up the 'best piece of land' available in the Kalahari Copper belt as Kopara decided to sell it to concentrate on its assets in Australia. The company has been tracking this land package for 2 years in case Kopara decided to sell as it would add serious value to ARC. Funds will need to be deployed to move this asset forward hence the second reason for a fundraise.
2.

The directors and Ganfeng have already agreed the terms so it's unlikely, given Ganfeng's already large shareholding that there will be a higher offer than 67.5p.
"It is intended that the Possible Offer, if made, would be structured as a recommended offer"
"The Bacanora Independent Directors view the Possible Offer to be an attractive proposal which they would expect to recommend to Bacanora Shareholders in the event that Ganfeng releases the Agreed Form 2.7 Announcement at the Offer Price and otherwise on the terms and subject to the conditions to be agreed in the Agreed Form 2.7 Announcement"

I'm being quoted 64.80p to buy at the moment. Looks like the share price will continue to rise.
I don't think we'll have to wait too long to see it recover to 100p

Bookbuilds usually only take a few hours and the company hasn't released an RNS yet to confirm completion.
I wonder whether it is having trouble raising the required funds?

Terrible price for the placing and feel sorry for shareholders.
I read the annual report recently and was put off investing here as the company looks very undercapitalised considering overheads and likely contract expenses. Also the CEO and CFO being paid £2million between them was a big red flag.

Wouldn't want to be out of RBD over the long weekend ;-)

It's a great shame PERE don't own 100% of Minto.

When Pembridge originally agreed to buy the mine the intention was to have 100% ownership. However, Pere weren't able to raise sufficient funds via a placing. Eventually, PERE had to resort to borrowing $10m on behalf of Minto from US funds at an annual interest rate of 8%. In return for the loan the US funds received a 67% economic interest in Minto.

A term of the original agreement specified that if Minto required further funding then PERE would be required to lend an additional $3million to the mine. However, if was unable to do this then the US funds would make the loan in return for an additional 22% interest in Minto.

Sure enough, soon after the pandemic hit last year, Minto required further funding but again PERE was unable to raise the funds so it was diluted down to an 11% interest in Minto. So the US funds ended up with an 89% interest in Minto in return for only $3million in equity and a $10million loan which they will receive back. What an amazing deal for the US funds!

The RNS I posted confirms UJO has a 40% interest in Wressle (Egdon and Europa both have 30%) and expected production is 500 barrels of oil per day gross so 200 net to UJO's 40% interest

I think we could be looking at production starting in around 6 months time

So profit would have come in on target had the directors remuneration not increased from $0.576million in 2019 to $1.454million in 2020. I would have like to have see the company become dividend paying before directors started taking more money out the company, particularly as they are not operators of the licence in Egypt

Given the size of the fundraise required for the mine CAPEX it will have to be priced attractively to get the placing away so waiting for that event is likely to be the approach that offers the best risk/reward.

The share price hit 0.87p a couple of weeks ago so I'm surprised it has fallen back so much given the imminent well tests which are certain to generate plenty of interest of the coming weeks.

I think in an interview it was suggested that the $35million finance requirement would likely be a 50/50 split between equity and debt (project finance). A $17.5million placing is quite large for a company of this size so it will be interesting to see what price they could get the placing away at.

Seems to be doing the trick but those buying probably don't realise it was an RNS Reach announcement.

"About Reach Announcements

Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only / non-regulatory news releases such as marketing messages, corporate and product information into the public domain. An RNS Regulatory announcement is required to be notified under the AIM Rules for Companies."

Not sure about that as profit was below expectations. In a recent Cenkos broker note 2020 profit was expected to come in at $1.7million but the actual profit was $0.85million.

Article is about UJO but RBD should see far larger gains relating to West Newton as it has 3.5 times more exposure.
The seller has given people a perfect opportunity to load up at an artificially low price prior to the excitement generated by the well tests. I think people may end up kicking themselves for not loading up more at the current share price. The window of opportunity to pick up shares at such a low price may not last long much longer.

"Union Jack Oil (UJO) is “delighted to report that mobilisation in respect of well testing, initially on the West Newton B-1Z well, is expected to commence in May 2021”. That means that significant news flow is ahoy. And that will see the shares go higher.

The company has a 16.665% economic interest in PEDL183, onshore North of the river Humber, which contains the WNA-1, WNA-2 and WNB-1Z hydrocarbon discoveries – and re. which we’ve previously noted belief that West Newton is a large scale, conventional onshore oil and gas development asset with potential offshore sized resources in place.

Following that prior positive drilling, cased hole logging programme and vertical seismic profiling operations on the WNB-1Z well have been completed – with the former having now confirmed the presence of a good cement bond of the production liner and well bore integrity and initial indications of the latter that the data is of good quality. Activity now moves to perforation and stimulation of the Kirkham Abbey formation and subsequent flow testing of the well, moving on to testing of the WNA-2 well following that being completed on WNB-1Z.

Albeit house broker, SP Angel has a 176p share price target having particularly previously calculated a risked valuation of 122p per share for West Newton. With the noted prior positives providing confidence for positive flow tests and operations expected to take approximately four weeks to complete, we look forward to potential catalyst news flow from the current 35p share price – and this also particularly with recently achieved free flowing oil at Wressle too.

Therefore, certainly continuing to consider there operational and market sentiment catalyst potential for a swift return to the effective 60p+ of last summer, although comfortably up from a 28p offer price tip last year still, at up to 40p, a BUY."

My view on Caerus Mineral Resources is not to touch anything that Martyn Churchouse is involved with. Empire replaced him with Mike Struthers which was a big improvement.