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"Altcast: No 1: the world of small caps with Tom Winnifrith'

Free to access pod cast over on sharephrophets website talking about a lot of the discussions we've seen on here recently

Fair to say their bb and their SP have been having a bit of meltdown for the past 12 months

Hit 85p yesterday

If TL can pull it off a decent JV deal anthing like:

£10m+ phase 1 exploration drilling in Cameroon

A further £10-20m phase 2 to JORC Resource across wider Cameroon licences

Phase 3 to PFS up to £30m+ taking them down to say 30% with 70% earn in for the major.

These sorts of multi year JV deals can put a rocket under juniors SP if they get a major with deep pockets on board.

TL has the contacts at Barrick and the potential scale in the CLP and the willingness of the state mining authority to open up the region as a new frontier gold district may start to look beneficial for all parties concerned

Expect ORR to be 'choppy' for a while now.

KOD had a riverfort facility back 3-4 years ago that took their SP down to 0.03 at one stage.

It kept things ticking over but once lithium stocks went on a run they were able to get a decent placing away to settle the riverfort agreement.

Since then they haven't looked back and 25 x bagged from there

From memory ORR had/have some outstanding warrants at 0.25p

If they were really confident the SP was about to rip north of 0.30p they may have felt these would have raised some cash, but maybe they are due to expire as haven't looked at these recently.

Their costs are effectively covered for 18 months.

In that time I'm guessing they are banking on the sector turning positive at some stage and if combined with decent news to see their SP rally they should be able to raise a decent amount on sensible terms.

The game changer would be getting a JV with a Barrick or equivalent to free carry them for 10mil+ exploration costs on the CLP.

Lol.

I've traded FRG previously, had some for a swing trade on the run up to 15p.

Just been going back through all the posts right back to that Nov'22 spike.

It's like a who's who list of all the AIM mafia.

I reckon FRG is on the radar of plenty.

We discussed some of the Australian lithium plays either FRG or their JV partners Ricca that the same Neil Herbert involved across these companies.

I've had FRG on my watch list for some time and it's just starting to move up and 6.4 looks to be in and its bounced strongly from this range previously.

Tro,

I've seen the old 'Elon Musk' ramps getting pulled out again over on Clon

:-))

This was getting ticked up on almost every purchase after the stealth buying at 0.6p.

I think there is a raft of warrants that can be exercised if the price stays above 1.2p.

if all are exercised if would raise the company 1.25million cash.

If I held some of those warrants from the 0.6p fund raise, I would have 100% been selling down my shares above 1.2p to free up my cash with the knowledge that I can get back in at anytime for 1.2p by exercising my warrants but now carry zero risk exposure should it fall back.

Say it stays well above 1.2p, the warrant holders can exercise their option to buy new shares at 1.2p and then immediately sell into the open market at a profit.

The recent management buys and rig news have taken this much higher than what I expected to see for the stage they are at.

The spread has come in a fair bit today at 8% but for the first few days of the move it was much higher and the usual 10% ers seemed happy to just hold and see it continue to tick up.

At 3p.. its done incredible really

Well done to all on this

I'm starting to wonder if they will drop a placing into the present volume.

The fully funded posters have disappeared and even some of the ramp crew have calmed down or stopped spamming the BB.

RNS

Drilling is currently underway in the deviated mechanical sidetrack. The well is on track to achieve the primary objectives of testing the reservoir targets and completing this well as a producer as part of the development of the Stockstadt Mitte segment of the Erfelden field.

The Company expects to reach TD in the coming days and will provide a further update on progress of the SCHB-2(2.) well as appropriate.

END

RNS Company Update

Vast Resources plc, the AIM-listed mining company, is pleased to announce an update in relation to the Asset Backed Debt facility from A&T Investments SARL (“Alpha”) as announced on 16 May 2022, the debt owed to Mercuria Energy Trading SA (“Mercuria”) relating to Tranche A of the Prepayment Agreement announced on 21 March 2018.

As announced on the 16 May 2022, the totality of the debt owed to Mercuria and Alpha was due to be repaid on or before 30 June 2023. The Company is currently concluding documentation regarding an extension to 29 September 2023 that will allow further time to finalise the settlement of its historic claims outlined in previous announcements.

The Company will update the market with further details in due course.

**ENDS**

Yeah, I agree that every profitable trade is a good trade and doesn't really matter if you don't get the absolute bottom or top of the move.

I thought that copl had a good chance of making a strong rebound move as the market clearly flipped from short to long and then there is all those trapped in at much higher levels that are now averaging down hard as they finally see it moving back up

Far better to be in from 2p and riding the SP up into instant profit than those PI's that bought after the Atomic acquisition news up at 80p and have seen the SP decimated through all the subsequent fundraising and death spirals.

I know we discussed the Rukwa licence and where it came from and how much was paid for it.

Just looked back at the original fundraise.

Helium One raised £6mln through an oversubscribed share placing with institutional and other investors paying 2.84p per share.

The opening price on AIM was marked at 5.875p, and, after early deals the share was changing hands at around 5.38p

So getting in on that recent Friday Dai around 4.5p was a decent entry in the grand scheme of things.

That said the market cap has jumped simce IPO due to all the additional shares added since

It arrived on AIM with around 496mln shares, which based on November’s placing price of 2.84p, gave the company a market value of around £14.1mln

He1 now has a market capitalisation of £74.74m, with approximately 821.32m shares in issue.

As you guys know I didn't hold it previously as I thought it had any 'discovery' success fully built into the price up at 28p+ and a market cap of £250m+

I only started looking into it all more closely a few weeks back and took that short term trade on the rig news and presently don't hold.

So no skin in the game here.

If I was Lorna I'd probably look for an opportunity to get another raise away pre results just like PRD have done.

Some initial 'shows' might just create the neccesary volume.

No matter what anyone thinks, I still think its very impressive how they have taken this licence that was valued at £0.5m and have got the value to the present level (and previous highs) without a commercial find.

The good thing about that from He1 POV is that having a sizable market cap enables them to keep doing regular cycles of fund raising without the need to issue a prospectus.

Therefore you have to carefully time the periods in which you hold these companies.

Hence why I have been favouring short-term trades recently and then getting out into the volume spikes.

I also wouldn't be surprised if at some stage they either add a further licence into the mix or announce some new additional targets following some further reprocessing of data.

I'm not advising anyone what to do here, just if we do get that volume spike I might even be back in for a trade, but I won't personally leave any in for results as I'd be putting myself in Lorna's shoes and the temptation / presure to raise some extra funds ahead of results into any volume spike might just be too tempting to turn down.

@Horult

Did you jump back in yet?

Well we now have the answer.

As suspected they have struck a financing deal that will result in further dillution.

SP back at 0.12p now.

News

All good info.. the JORC has since increased.

Not going to say anything much more for now other than...

MMIH announced an updated Mineral Resource was prepared by Derisk Geomining Consultants Pty Ltd. and stated that

"Mankayan is now estimated to have combined Mineral Resources of 793 million tonnes containing:

> 2.8 million tonnes of copper

> 9.6million ounces of gold

> 20 million ounces of silver

BZT hold a 26.36% of a 9.6m oz Gold JORC MRE

That's a comparable size to Havieron where GGP own 30%

Look at the market cap of GGP £365m

Look at the market cap of BZT £2.86m

BZT- holding a similar percentage ownership of a Giant Tier 1 resource that's recently had a 25 year licence renewal.

Around 10 years ago BZT SP was 100 x where it is now.

Radio silence from CB recently

Tro / Horult

Decent run up off from the lows.

ITM 'mirror chart' as discussed

Are you guys still in?

All those short cycle fields can create 'problems' at the back end. I mentioned my concerns about JSE a very long time ago that the skill would be in management juggling a potential rapid drop off in production at Montara ahead of getting their gas up and running... its probably one which will eventually turn but you need strong management to steer through these periods.

Even Carnarvon Energy operating in the same region have fallen 56% over the past 12 months and they have a much 'rampier' ceo and are about receive a big slug of cash $146m from an asset sale with a large proportion of that upfront without which arguably they could be in a similar situation to JSE. Actually without that sale they would definitely be in the same situation as JSE as thar asset sale is probably propping them up so JSE SP whilst unwelcome isn't an isolated situation.

The super majors in region like Santos haven't been affected

So canarvon and JSE probably suffering from a more fickle shareholder base and regional concentration of assets.

I think there has also been adverse changes to the regional PSA which may not have helped.

But these regional tax issues should eventually abate like they are looking like is going to happen in the UK

Doesn't help that oil had pulled back 50% over this period and therefore always need to keep a close eye on the underlying commodity prices.

Someone paid 12p earlier.

Closed at 4.5p

Bid showing at 3.5p

Ouch

Looked at this first thing after it moved up 20% yesterday

However it opened up today 34% on a single buy but the spread was 34% so put me off as just the spread making it look like it was moving.

Then the usual ramp crew jumped in and bid the proce up until a speeding ticket was issued and price fell away.

Some crazy administration costs of 2m (looks like associated with IPO)

Directors wages of £595k when absolutely nothing happening as effectively a holdings company for a single licence block with no means of drilling or ever bringing into production and looks like a 1m loan that needs to he repaid that was taken to aquire the licence and if not some suggestions the licence will be relinquished?

I wonder If they will look to raise?

Spread showing as 57.143% not sure if that will be the same tomorrow