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Let's be clear Harp at this stage this is a high risk high reward investment on one asset alone. but their strategy is at least to close deals assets where oil is present and the chances of drilling success higher, but there are risks with any drill.

Harps let's look at the known if the deal goes ahead. If they raise the full USD20mio for the 50% stake and say another USD2mio, as working capital until they close a cash generative deal, for simplicity at 0.0025 you will land with a MCAP of around £21mio, if you include the current MCAP. The rest is guess game before the drill, but in other cases an asset with this potential and high chance of success being appraisal has justified a far greater MCAP and therefore you see why some people might talk of prices of 1-2p. I think this transaction is exceptional for a company with this MCAP and it's only possible due to the caliber of the new team. It is imperative, and they know it, that other deals which generate cash flow also get closed, which in turn will reduce the need to raise to cover the ongoing costs and costs related to evaluating other deals. I think 2021 will be very interesting for shareholders.

Bigboot if you look at the mid dec 2020 RNS when they listed on the back of the ipo you will see they raised £6mio plus they are using their own rig, hence funding is not an issue. This board is mega experienced and look after every Penny as they are the biggest shareholders and therefore hugely aligned with all of us holders. Keep a good position mid/long term is my take as this has got the strategy and board to become a mid cap in a few years.

I have my own view, but in any case this transaction is the first transformational deal, as promised by the new board, and we will definitely open much higher if they close it as I expect. As they are truly changing from the past ie old assets are out, name and strategy change etc I think that a share consolidation might also be considered, but not bothered either way.

If you step back and think rationally this share looks actually very interesting at these levels. Post raise they are funded to deliver on increase over this year mine production from 700-1000-1400 tpd @ 2% Cu and further next year, ore sorting plant design changes as key value add, exploration, recruitment etc, all in an environment of improved copper price. In addition they are in a safe jurisdiction with new key board members with turn around experience and a projection valuation in excess of US200mio are all elements which have no doubt allowed an oversubscribed raise. The upside potential from these levels with now all foundations blocks in place and significant funding is very interesting vs a very limited downside, but as usual DYOR.

Time will tell, but the potential for GDR via Beckman is clearly significant and it’s happening as we speak: https://www.beckman.com/reagents/genomic/viral-detection/genedrive-96-sars-cov-2

https://www.carnarvon.com.au/wp-content/uploads/2021/02/Buffalo-drilling-update.pdf

Great to have them on this H2 2021 drill with exceptional potential.

Patch see my reply on the 4th, these RTO deals are lengthy and think March is very likely, patience will reward us.

Absolute superb, can see a clear path to 100 and well beyond over the next few years.

In line with the September RNS and overall strategy I'm pleased these legacy assets have been terminated as not material. The new board has made their ambition clear to became a mid cap in 2-3 years and we have seen the first RTO deal which is exceptional for a small cap like ADV. More deals, including cash flow generating, will in my opinion come this year, which will be incredibly exciting. Only time will tell but I remain of the opinion that patience will reward the new board and also us shareholders.

coldbeer this is a significant transaction, hence RTO and suspension. These transactions are not quick and as per below it should be relisting by the end of March, patience required but for a very good reason:
"Each Party must use all reasonable efforts to satisfy the conditions precedent by 28 February 2021. Either party has the right to terminate the Buffalo Subscription Agreement if, at any time after 28 February 2021, it becomes apparent, acting reasonably and after consultation with the other party, the conditions to completion are unlikely to be satisfied by 31 March 2021."

The true differentiator with TGR is the downstream where you sell speciality graphite at 3-4 times the price of the mined material, not to mention the graphene which can sell for $100,000 per KG. TGR not only produce, but adapt sales to demand. In addition just look at the Mintech RNS a few days ago, that RNS alone can land you with a 5% stake in a major mining project. The majority of the investors have not yet understood the true value differentiators of TGR, but they will over time. This is just the start imo of a journey to mid cap status backed up by deep know how and unique strategy. This is a share to buy as an investment in a booming sector and not as a trade.

Nice reference and mention in the Carnavron RNS yesterday https://www.carnarvon.com.au/wp-content/uploads/2021/01/Quarterly-Report-APP5-DEC20.pdf

patch, when Leslie got interviewed on 8.10.20 he mentioned that the first deal should have been possible within 6 months, the deal was announced on17.12.20! The little cash held did not worry me over the last year and does not worry me at all now that they are finalizing the first deal, which in their view, and they are the O&G experts ie not me, should deliver them 20,000 bpod for a couple of years at least with an incredible cash flow if they are correct. Personally with a deal of this nature they will have no issues in my view to raise the USD20mio for the full 50% plus as a guess a couple more mio to allow them to finalise other deals before the 'cash flow' deal also gets done. The guys are super smart and that's why we will have a mix of deals in the portfolio, but they rather in my opinion give conservative timelines and deliver well within them if they can.

patch, Leslie stated from day one that the previous company was basically broke and had raise continuously just to stay still when they took it over as a shell. The new board are clearly evaluating various deals and they confirmed that some will be cash flow generative deals; they even give an example on their corporate presentation by memory under A of a transaction which would deliver an annual USD10mio cash flow. Time will tell but I suspect that this type of deal is possible with a mix of equity raise and debt. If they can deliver such deal, and I think these guys can, the say $10mio pa would only partially be used to service the debt and leave say $5mio pa, or even more, which would take care of any G&A and probably even leave cash left over.

The new board means business. The deal announced is already transformational but just the start:
'Meanwhile, we continue to build on our ambitious growth strategy and are in the early stages of negotiating a possible participation in other projects. So with this in mind, we view Buffalo as the first stepping stone to our growth ambitions of becoming a mid-cap player in the next few years, and would hope to conclude at least one other transaction this calendar year.'

Perfect, all falling into place for the first deal.

Great interview on Proactive. Maz it might go to 5p, but who knows. As mentioned many times it's risky but the upside for me is exceptional. Only time will tell, but due to the potential of the deal I would hope for a raise at a premium, significant re-rate when we re-list with the deal closed, as we book 17.5mio or so 2C reserves, price will continue to go up towards the drill later in the year. Massive rise if the drill is successful or drop if something goes wrong. What I like is that the risks are lower as it's an appraisal well on a proven oil field, but there are risks with any drill, but we are clearly not talking high risk exploration in an unproven block. I would suspect that they will consider some consolidation as the number of shares in issue is large, but don't care as it's all about the market cap. This is deal 1, when Leslie was interviewed late last year he mentioned that they had 2 deals at an advanced stage; I would hope therefore that 2021 will see at least one more deal, hopefully which provides a cash flow and therefore reduces the need of equity raises over the years to come and would support a re-rate in it's own right. As mentioned before 2021 is shaping up to be very interesting for ADV. Let's wait patiently.

Amazing potential if all goes according to plan.