Member Info for Phoebus

Good luck getting any shares. None available to buy on quote and deal even at 1.95p. Guess orders were being filled at 1.6-1.65p level before takeoff. GLA

Bye then Mr. P.

PVR now 17p to buy. Read across puts LOGP at 3p! Mispricing can't last forever.

LOL? Abandon Namibia? Today's RNS suggests they will not be wasting any further money on Namibia until after Guyana gets drilled, focussing on Guyana instead, just as I said I hoped they would. If Guyana goes as well as it looks it might don't be surprised if ECO is long gone before the drill even starts turning in Namibia. That clear enough for you?

If you're waiting for a placing you might be waiting a long time and miss the boat. Based on what we've already been told as regards their funding position and cash burn rate they would probably only need another £200K to see them through to the end of drilling campaign. And what market cap do you anticipate them reaching during drilling? £200K will be a fraction of one percent. It's irrelevant.

PVR's interest in Barryroe net of SLE royalty is 3.55 times LOGP's. 3.55 times LOGP's market cap pre RNS was around £30M, which left around £30M market cap for PVR's other licences and cash pile. The change in circumstances since then only pertains to Barryroe. PVR has already added 3.3 times LOGP's entire market cap since the RNS. This glaring valuation gap will not persist IMO. There is nothing wrong with LOGP, it's just that nobody is buying LOGP because nobody else is buying LOGP. As soon as the price starts to move they will pile in and the valuation gap will close.

Interesting. The 200K sell at 8:46 was actually me buying. Couldn't resist at these bargain basement levels. Makes me wonder how many other bid price trades have actually been buys the last few days. Stealth accumulation before the rerate.

Indeed. The relative valuation gap is getting more and more stretched. An equivalent move in market cap post RNS pro-rata to Barryroe interest would already put LOGP at 2.73p or 68% up from here. PVR has already put on more than 3.3 times LOGP's entire market cap since the RNS! The lack of price movement here is starting to look a tad ridiculous. Expecting a sudden correction upwards very soon.

Government signed of on Namibia drilling and best of all, no drilling in Namibia until AFTER Guyana drilling.

Ask getting smashed now. :D

The difference in cash positions was an issue before the RNS too so it was already in the SP. LOGP is fully funded through to start of drilling, by which time the market cap should be multiples higher making the tiny placing required little more than a scratch. LOGP had a big spike on RNS day and PIs are nervously waiting for the SP to consolidate before piling in. RMP spent more than 3 weeks consolidating after their inital Alaska farm in spike before starting its rerate. This is typical for a controlled rerate in a less liquid small cap stock. Just give it a bit of time.

No chance. The deal that started the move was the Barryroe deal. The reason PVR is moving more is due to institutional buying IMO. There have been some big block buys there the last few days. LOGP is stationary because PIs are cautious and waiting for the SP to start rising again. As soon as it does watch the buyers flood in.

PVR now at 14.9p with pro-rata gain putting LOGP at 2.46p or 50% above current SP. Wakey, wakey market.

PVR has now reached 14.4p having added £21.5M in market cap since the RNS. If we divide that by 35.5 (PVR 40% interest minus SLE 4.5% royalty) and multiply by 10 (LOGP 10% interest) we find that LOGP should rise by £6.1M in market cap since the RNS to keep pace with PVR. This would currently put LOGP at 2.32p per share. When this moves it will go quickly IMO.

Current SP is farcical. Only 0.03p over day high on anouncement of Wick farm in more than 7 months ago. Another farm in since then, rig secured for both drills, site survey completed for Wick and imminently for Colter. Dropping on tiny volume and coilled for a big rebound when final sign off and drill dates announced. Brent over $82/B this morning BTW.

PVR moving up like this should get LOGP moving too after its nice consolidation the last few days. Huge value to be unlocked here over the next 6-9 months. GLA

Any further move there and this will start to move up strongly IMO.

The ore grades look very poor to me. According to the British Geological Survey, 'the average minimum exploitable grade for a copper deposit is 0.4%.'

https://www.bgs.ac.uk/downloads/directDownload.cfm?id=1410&noexcl=true&t=Copper%20

In today's RNS the copper grades are stated in ppm (parts per million), but rewriting in percent they are 0.12%, 0.12%, 0.32% with 7.6m at 0.7%, 0.23%, 0.17% and 0.22%. All far too low expect for one intercept.

The gold grades have also been reported in ppm despite usually being reported in g/t. It's not surprising becuase the highest two intercepts are only 0.72 g/t and 0.41 g/t with the rest below 0.2g/t and 0.15g/t. That's so bad even Todd Hoffman wouldn't run it through Big Red.

Focus on Guyana.

I disagree.