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I couldn't help notice in the last RNS which was mainly about highlighting the planned drilling of a highly prospective MOU-5 there was the inclusion about issues with 'problematic mobile clay formations present in MOU-1, MOU-2 and MOU-3'.
Now I know they had big issues with the suspended MOU drill, but were they ever highlighted in the other two drills? How big an issue could these problematic mobile clay formations be for the long term extraction of gas? Are they so concerned about it having now started the testing, and no doubt have an idea about what they have here, that they have hurriedly started planning for MOU-5 as a back up for poor results on this initial testing program?
Still fully invested here but with the testing having started on the 29th Jan I really would have expected the share price to be advanced of where it is now.
Enough of your tripe Jock. The company tested twice on site and are absolutely sure of what they have but for the people who will be buying this for a huge sum of money they have to get it confirmed independently too.
This is going to the moon.
No surprise to see the share price retreating toward the placing price. Whoever stumped up the cash will be well aware of the precarious position GCM are in with the need to still raise more money within a few months, appoint NED'S and fight off Tang's ill intentions towards the company/shareholders.
On a brighter note, now that GCM has staved off part of the immediate danger, I would expect to see new NED'S appointed shortly and a share price rising again, either on news of the new appointments or as the new 'investor' offloads.
Should be seeing delayed sells some time soon.