Member Info for SharketMare

Hi Eck, thank you for your response. I do not understand TA well enough at all to trade a share based upon it, but I do find it interesting to hear opinions on resistance and break out levels.

Do you have an opinion as to whether or not the company will be forced to raise further funds to keep things ticking over to prodiction? And if you believe they will do so, what mechanism do you think they will use?

Thanks again,
SM

Any TAs in this share know where the resistance above us currently is? Looks like we are tapping on 52p but unable to break it.

Thanks all for your responses, good to hear from you and to know that you're still invested here.
I had another small top up at these levels this morning.

Toro, Farquar, Mike, Bozi... are we all still invested here? Any thoughts on why we are back in the doldrums and what the way out of this is? This is the only share in my PF that has done nothing but drop since Covid-19 came along.

I hope you're all in good health at least.

Decided to buy the dip today and got in at 41p, leaving a little to average down if the business is forced to raise further funds to finally get to production. Personally think that the market has further to drop and that gold will climb higher again this year (hopefully just as SGZ starts to produce!). Plenty of potential upside here.

Sain, I've only paid cursory attention to this board since taking a punt and making a quick exit. But in that time I have seen that you were previously invested and now have sold up. Presumably at a loss. Why do you persist in remaining on this board and posting exclusively negative comments on the share? Are you just really annoyed that you didn't do well out of it and this is some bitter online vendetta?

I don't get why you would spend time posting about something you're no longer financially involved in.

agree bobby. very surprised they are still claiming to be BAU.. pressure will build and doors will close. better off doing it before it becomes a reputation/PR headache as well as an operational one. bad business to have not yet announced imo

This will tank Monday when they announce over the weekend that the warehouse has to close. No way they can keep it open in the current climate. At that point I will be looking to get in

Likewise, sold up after making 33%. Will continue to watch this one though as there will be more opportunities to trade it for sure

Totally agree. We are bleeding down here.

I took a punt here today @ 3.66p for the ride. Should be an interesting few months.

I am concerned that the drop here that has seen no bounce back at all might be based upon fears that if COVID-19 takes off in Africa it could be catastrophic for the continent. I appreciate that the West African states that we own assets in (particularly Ghana) are more developed than some of Sub-Saharan Africa, and therefore better equipped to manage a potential crisis, but some investors I would imagine will be deterred in investing in us if they perceive this to be a serious risk to our operational capacity.

It's unbelievable really isn't it.. you're a CEO.. start dressing like one.

Hmm this is creeping up on very very low volume... wouldn't be surprised if we saw some more news over before the end of next week.

Thank you for sharing this Pinot. Assume you are still invested in SOLG, hopefully 2020 will be a transformative year for year for that share too.

Another small top up for me here today.

This looks very good for us. The work IRR have done with local communities, community leaders and politicians in its jurisdictions will hopefully pay off.

Dean, what kind of response is that? This is a message board to discuss the company. Of course we will receive news at some point in the future. Others on here may be more informed and may be able to shed some light or speculate on the answers to some of those questions.

1. How much longer is the cash we've got in the bank going to last?
2. How much cash is it going to cost us to drill down into Zaranou to get a MRE?
3. What, if any, are the plans with Chad moving forwards?
4. Does IRR plan to go it alone in Ghana, continue to drill and prove up the resource and then transition from explorer to producer?
5. Are there ongoing talks with majors / companies in turning our lithium in Ghana into a JV? Would this give us the cash to fund Zaranou?
6. What are the approximate timelines for an initial MRE at Zaranou?

I can't help but shake the feeling that the market knows we will need to raise funds soon, and as a result us LTHs are going to get stung (again), especially if we don't re-rate before having to raise. I fully expected the lithium MRE to re-rate us back to 25p+ at the low end. This would have made further dilution mildly more palatable.

Lots of promising news and I want to keep adding where I can. But there's a a few unknowns that need clearing up sooner rather than later imho!

SM

Bentnose - I totally agree. Interest from one of the big boys would also likely send a rocket up the SP as they don't mess about with assets that aren't going to considerably strengthen their portfolio.

We need updating on timelines and strategy for sure.

I am with Mike here. It is incredibily frustrating that no much how much good news IRR pushes out the market doesn't seem to respond accordingly. I get that we are down here because the market cottoned on to the fact that we would need funding, and we raised at low levels, but given how far the company has come from the heady days of 35p+ and a MCAP of around 100m at one point, it makes absolutely no sense to me that we remain where we are.

After all the build up to the Ghana lithium resource estimate I was massively disappointed to see - not just a muted reaction - but a negative reaction from the market to the news. It baffles me.

I will continue to add at these levels, bringing my avg down and trusting in the fundamentals of the business. What we need now is a clear road-map laid out by VM to explain how we are going to move back to a 100m business and ideally beyond. I had previously set an ambitious price target of £1 a share before selling which would value the business at around 330m. This looks ambitious at this stage. But somewhere between 60-70p should not be unrealistic given the assets we are holding.

Vince's next bit of PR is important and I hope for all our sakes (and wallets) he nails it.