Member Info for PortfolioPower

Unless this 22m has been held by a bank to enable the issue of a guarantee to the contractor.

difficult to find accurate info on this?

This is the bit from the trading update that is opaque

"· In Q4-2023 the Company announced a placement and open offer, raising gross proceeds of US$28.1 million, of which US$5.5 million was received by the Company pre year end, to strengthen the balance sheet and advance growth initiatives. All resolutions were duly passed at the General Meeting on 10 January 2024."

So 28.1m was raised.

Bit only 5m of this was apparently received by the company by the year end.

So where is the other 22m?

HUM

Yep, the question that needs to be answered is, do they have the 27m cash to pay the contractor and will they reach an agreement.

It's difficult to know as they have raised recently (presumably as they fully knew about this, not like they couldn't know).

So if the cash is there, will it get resolved?

Some major Trust issues persist here either way.

It's getting near to the gamble / punt zone...

But still just watching

Surely an RNS has to be put out within the next 24 hours?

HUM taking a beating .... just watching all the fall out atm

CHF.... BOD changes and new CEO with a decent background and connections.

Up she goes!!!

Looking strong here.

M/Cap still trading below cash + assets.

Is anyone still in?

Imminent fund Raise incoming imo.

The more you read this and think about it.

How will they know the exact costs of the re drill until they have actually COMPLETED the re-drill???

So they must need to raise in advance, then do the re-drill and then the exact costs will be known.

These costs can then presumably be 'Recovered' post the re-drill event.

After last week's nasty SP drop of -80% this has continued to rally and has recovered up c. 400%+ from the lows.

Punt money territory only, and not sure how much of the sponge is left to squeeze on this particular recovery rally.

Still on watch list ever since the JV with Anglo American.

Just watching and waiting to see if the bashers can get it down to the April 2020 SP lows.

They have managed to drag it a shade under the placing price

£4.14m raised the other day at 1.8p.

Planning to do share buy back and then cancel those shares from a seller in the market

'The seller' who owned 5% at one stage is apparantly 'The Swedish Teachers Union pension fund' .. lol. :-)))

Can't wait for that Tr1 to pop up once they are out.

Apparently the union has been taken over and some woke policy means they are no longer 'allowed' to hold ARCM.

All sounds Bizarre really, but the company reckons they can both buy back the remaining shareholding and cancel those shares and pick up some new licences from £2m out of the £4.14m raised.

If they can, that means the seller will be out just in time for their new drilling season with the SP sitting on or around record lows.

Some LTH with crazy price targets of 20p+

Not sure about that, but could be a good mean reversion play once we know fhe seller is 100% out.

Keeping an eye on it.

Looks like the HZM holders who got burned have turned up on HUM to throw some spite back at ThePublican777 who tortured them for months as HZM SP sank, and they are now 'returning the favour' by the looks of things.

Bit of tit for tat :-)))

SP had had a nice run up over the past few weeks, but as ever with HUM, always seems to be bumps in the road.

Bad RNS just landed.

"Kouroussa's principal contract miner, Corica Mining Services ("Corica"), has temporarily suspended mining operations as of 17 March 2024 as a result of various contractual disputes. Such suspension is a clear breach of the mining contract. As previously announced, since the commencement of the contract, Corica has failed to meet mining contract volumes due to delays in mining equipment mobilisation, commissioning, and overall operating performance.

Notice has been given to Corica to return to work by Tuesday 19 March 2024, failing which the Company will exercise its rights which could include, stepping in to resume mining, and working with alternative mining contractors and equipment suppliers to achieve full mining operations.

The Company is in discussion with its primary lender, Coris Bank International ("Coris"), regarding the potential implications of the situation on forecast production and the cash flows for the Group."

SP dropped from c.11p down ro 7-8p immediately

I wonder if they will release a good update & video tomorrow and take it back up??

Looking strong today

Really picked up this afternoon

The positive MSTR Beta of 2.3 generated over the past 6 months has been impressive

Stepping-out down dip

'down dip'

Located down the slope of a dipping plane or surface. In a dipping (not flat-lying) hydrocarbon reservoir that contains gas, oil, and water,

> gas is updip

> gas-oil contact is downdip from the gas

> oil-water contact is still farther downdip

PANR leases are up dip from Hickory and they have flow tested all of their licence areas successfully.

All these licences for both companies sit on a huge hydrocarbon basin.

I guess with these large hydrocarbon basins companies with keep stepping out down dip until your reach the point where it no longer flows on a commercial basis.

Just revisiting this thread.

Dai was right here, the bounce from 140p to 180p didn't hold...

Is it about to put in a double bottom?

Good call & fair play for shouting this from the early stages of the rise.

Where the neighbouring infrastructure has already been put in.

If it can all be tied in should be fairly quick to get up and running.

Dai,

That's the thing with most AIm pre production / exploration plays.

The majority will never ever make it into production

Just getting to the point where they can announce a discovery is usually a nice SP catalyst where many traders are happy to lock in profit on any such related SP spike & run.

The next step is to ascertain whether its a 'commercial' discovery

Many fall over at this hurdle.

But for those that do have a commercial discovery the next hurdle is getting the funding. For those that fail to get the funding or a JV it often results I a big SP drop - for e.g. see ACP

Quite a few mining comps out there with commercial discoveries where the SP has drifted back down simply because they can't fund it into production.

Some of these end up getting spun out into new IPO's under a different name.

For those that get funding, it's then getting upto nameplate capacity stage without hiccups that should be the final hurdle, but with many AIM comps, always expect the unexpected.

> From discovery to full nameplate mining production...... allow 10 years..... sometimes longer

No CEO will ever mention that bit though :-))

It's right on that support area from where it bounced previously back in Jan.

Sam Garrett, Chief Executive Officer of Great Southern Copper, said: "These results have exceeded our expectations and, more importantly, confirm the target models that we have developed from our surface exploration work to date. Intersecting a 10-15m wide mineralised vein at shallow depths supporting grades over 2g/t Au and 1% Cu beneath a target outcrop 2m wide and assaying 0.6g/t Au is very encouraging.

"The Teresita scout RC results are very promising given the potential scale of the system mapped at surface, which to date demonstrates a cumulative strike length of over 5km.

"Given that the same style of IRGS mineralisation has been discovered at the Victoria prospect, these results are particularly exciting as they indicate that GSC's Especularita project hosts at least two of these large-scale, high-grade IRGS systems."