Member Info for Restorationalist

5p target?! Lol. You're only out by a factor of 100, but please do keep posting - you're obviously incredibly knowledgeable!

I don't know where you get your two billion USD in-ground numbers from, but you're completely wrong! 20m oz of silver, at just $75/oz is one and an half billion dollars, add in the germanium and it's already well above the 2B you ascribe in value to the entire deposit. I doubt the zinc and lead have a negative value, so your numbers clearly don't make any sense.

My question in all of this is pretty simple: where the f**k are the oil and gas worker union voices in all this?! They are decimating well-paid O&G jobs and the LIEbour-supporting unions are like the patriarch turkeys cheering it on and calling for a second ChristMass each year! Utter Muppets. A phrase I have occasionally heard is extremely apt concerning this disgrace of a gvmt: You just can't hate them enough. Here endeth the lesson.

I am perfectly happy for them to keep banking huge FCF, working over the current wells and doing the waterflood, and NOT overpaying to buy new assets. When the PoO stabilizes at a lower level in 6-9 months time there will be plenty of acquisition possibilities at more realistic prices. And with a few million saved up in cash, and a supportive bank we will be in a great position to make a few decent acquisitions. It's delayed the expansion plans by a year or so, but the balance sheet will be incredibly healthy over the same timeframe.

Never a bad sign to see insiders buying shares in the market.

Apparently then ballbag1 you don't know what insider trading is! Absolutely nothing PW said was not already in the public domain through RNSes previously issued. Plus he has said exactly the same before in previous interviews with minor adjustments to reflect the slightly changed metrics, all of which could easily have been calculated by any half interested layman using the production figures, the fcf numbers from the most recent investor presentation, and the current PoO vs the assumed PoO in said presentation.

I suspect a far more likely explanation for the higher volume and price rise is the publication by Charles Archer of a mini analysis of the company and basically suggesting it as a buy to those who follow him. He has quite some credibility with a certain group of people, and it is not beyond the bounds of possibilities that someone active on social media used the opportunity to try and get a bit of a pump going (presumably to get themselves some exit liquidity after front running their pump.)

Just a thought, but not everything on AiM is a conspiracy or insider trading, although it is very much the cesspit of the London markets.

Panman, I think you need to do a little research on the difference between market cap and enterprise value!

Goldie Lucks, you are talking nonsense, matey - with 25.3B shares in issue at a price today of 0.015p that's almost 4m market cap right there. So your talk of 20m mkt cap would only be a 4 bagger from here, certainly not 10-20!

GG7, Geotest either contracted for a second rig with Rockfire or they didn't. It is starting to sound more and more as though Price has yet again screwed up - not adequately protecting Rockfire's position when contracting for drilling services, and announcing something to the market which was not quite accurate. If Geotest were contractually obliged to provide a second rig, then why has Rockfire not launched proceedings for breach or announced a settlement for breach (eg a material reduction in rig costs)? The only logical explanation is because Geotest were not obligated to provide a second rig within a specified timeframe. And if that is so, the rather more interesting question Is why Price didn't adequately contract for this, and has been running around for about half a year telling everyone that a second rig is imminent. It all looks to me like more of Price's overpaid/under-delivering incompetence. The sooner acam take the bull by the horns and force this cretin out the happier I will be with my investment.

As much as I would agree with anyone who says Price isn't up to the job and needs to go, even you, I did get a good chuckle at the irony of you telling someone the following in an effort to belittle their investment abilities, without realizing that what you'd actually described in your post was someone who had made many hundreds of percent profit!

"Nearly spat my Weetabix out when one shrewd investor lumped 5 million shares worth on predicting a superb rise at 0.0016 only for it now to be at 0.014."

You may well still be on the Weetabix, but the investment case you describe here would be getting the lucky investor closer on the way to smoked salmon and scrambled eggs at the Lanesborough! :)

Then it's clear lamppost that you don't understand very much about defi, yellow, tomato or greengage. Better to be a dog in Coinsilium than a lamppost in Microsoft. Outsized gains are very possible here, by no means guaranteed but quite possible, especially for those willing to trade the spikes.

More importantly, volume is increasing.

Are you certain the 3m is USD value rather than number of units?

I notice you have contributed absolutely nothing by way of suggestions about how Buce should be better run, or what decisions management should make in place of the ones they are currently making. I suspect judging from the lack of substantive content in most of your posts here that "nothing" would nicely summarize the contribution you make to most other areas of your life which are fortunate enough to enjoy your gigantic intellectual presence! I'm not sure it would be adequate to describe you as a sore loser in the investment space, but you definitely appear to be pretty sore about your losses in ntog/buce, and judging from your presence here constantly moaning about your losses and crying into your proverbial beer it would be a real stretch of the imagination to envision you as one of life's winners. Now get back to scribbling with your crayons and reading your Dummies Guide to Investing before nurse discovers you've gone AWOL in the care home.

All this talk of placings as a bad thing is utter tosh! We've $200k pcm fcf at these prices which should easily cover all costs as well as paying for well workovers and the water flood project. At this point, the only reason to have a placing is to purchase meaningful producing assets to add to production. Welch will not overpay in this current price environment so I would think there's little chance of buying any more production (which presumably means very little chance of an imminent raise.) But when they do dilute to buy more production, I for one will be very glad of the dilution. Because I trust that they will do deals at a reasonable price when the time comes, and that will add value to the business.

I really don't understand why people are so upset here, our CEO is doing a pretty good job imo given the mess he took over, has bought a potential injector well for peanuts which will be producing a few bopd until it is needed for the waterflood, has completed the workover production which has given us almost double production to be able to sell at these record high prices, and has been actively evaluating assets for sale in order to increase production (it's hardly his fault if we get preempted on a deal, and I definitely do NOT want him overpaying for more production in today's environment, such that we can't make money when oil returns to the 60-70 dollar range.)

Right now the plan appears to be to run things as hard as possible to maximize short term income in his unusually high price environment, stick the money in the bank, spend small amounts maximizing our current production, and keep looking for attractive asset acquisitions.

If any of these keyboard warrior naysayers have a better, more credible proposal for the short and medium term management of the business, let's hear it. Otherwise just sit down and STFU.

"Buts it’s this kind of vagueness in the RNS’s that frustrates me, they could be so much clearer."

Steady on, buttonmoon, it's almost like admitting that the management here aren't all that great! Any minute now that patronising company shill be be along to tell you what a t**t you are.... or don't you bother holding yourself to the same standard?!

If you were half as smart as you seem to think you are, silver light, you would realize that people looking for a low entry hardly need to talk the company down when this extremely poor management team are doing a better job of share price destruction than any PI could achieve by posting an opinion here! And yes I do think an EGM needs calling in the fullness of time to replace Price, he appears to have misled the market about getting a second rig and then all kinds of excuses about apparently it wasn't just a case of showing up at Tesco's to ask them to deliver one the next day, and now all his talk of second rigs is mythical pie in the sky stuff around whether it's even possible to acquire one. The abandoned drilling was also very unprofessionally managed as were the very late Comms around it, and it appears there may be new problems with the drilling judging from the length of time with zero information about the drill holes which are now well overdue.

You sound like a lot of those Muppets who were around Eurasia mining many years ago cheering the management team all the way down from 37p to 2p, and calling every man and his dog a deramper for pointing out the obvious management failings.

I'm certainly happy taking advantage of these low prices to add more, but am doing so because the asset is clearly first rate whilst the management needs replacing asap because in my view they are simply not up to the task.

M1: actually it matters quite a bit - they have enough shares to call an EGM and oust the failing management here when they feel Price has screwed things up too much. That will be the salvation of this company: great strategic asset, incredibly poor management.

I personally find everything about David Price's overpaid/under-delivering leadership to be highly disappointing.

The rate at which the drilling is dragging along it may be more than two years before they complete these 10,000m - after all they've managed, what, 1,500m in about four months?