Member Info for Skippysb01

The Alenby note suggests a SP value that requires certain things to be realised. So it's the potential SP for now.

Some have been dismissing the new note but we shouldn't. If nothing else it contains very useful data about what we as investors should consider when understanding the value here. e.g. the exchange rate factor - that's important folks, it's not just Allenby being grumpy - they will have a view of this that they update periodically. As always with these things there is a crystal ball involved, hence they often don't come off. 0.7 provides a considerable upside potential versus a sensible assessment of the resources and the current risks. As always you could lift your expectation based on what you believe might transpire. Par is about .7p without new data.

Chuditch RNS soon may change the parameters somewhat or may not.

It's the current shot not 'one shot'. They are quite righty giving focus to the plan to deliver the next drill.

It does not mean that nothing can happen after that - if we read it that way every AIM mining exploration company would dissolve after one funding round.

AGM's can be instigated to change funding permissions. They can't see clearly how another fund raise would happen based on the SP and the need to deliver progress on the next drill.

The focus is right and I think some are being too literal about it being 'one shot'. What if they only very nearly make a discovery?

Think it starts at 3:00pm.

Did I just miss the chance to get some more below 23p because I chose the wrong time to get a cup of tea!!

I expect the biggest issue for Minchin was the drill situation falling apart immediately after the fund raise. The investors that took part in that would have applied heavy pressure on the board and let's face it they may need them again at some point in the future.

Before Feb last year Russia had this amazing military. Alas having thrust its massive wedge of rust and rotten tyres into Ukraine it seems they don’t. I’m sure Satan 2 has NATO quaking in its boots.

Being able to end the world more times over isnt going to defeat Ukraine because nobody would be left to care.

Whataboutery = any act no matter how heinous, committed now, can be justified on the basis that other un associated acts happened in the past.

This does not make an argument for Russia to murder people anywhere. It doesn’t make an argument at all.

Whataboutery. Irrelevant.

Please note that when a state calls its stuff ‘Satan 2’ it isn’t from a position of strength.

They would be better calling it big bluff burger or suicide muffin.

I’m not going to look at you tube nutters either. Every single one of those I ever saw didn’t make it past Neil Oliver levels of poop for me.

Some useful idiots on here today!

Whataboutery! Whatever. Russia is illegally occupying Ukraine and murdering people including its own soldiers right now. It isn’t a good look regardless of what anyone else is or has done before.

Russia has better nukes! This one is crap. Irrelevant as a nuclear war to prove this point means everybody dead. However USA can afford to upkeep its nukes. Russia lists as current stockpile every nuke it ever made and yet they are repurposing the rockets with conventional warheads to fire at Ukraine even today. At the break up of the USSR journalists reported seeing rusted up missile silos and rockets. They couldn’t afford to maintain the arms race. Not that it matters and I’m sure they could get some off the ground if they felt committing suicide was the best outcome.

The Nord Stream explosion. How is it that when one single western journalist decides to support the Russian propaganda his CV suddenly becomes acceptable. Literally any other time when a Western journalist report something you idiots don’t want to believe you say we are all brainwashed but when it suits you it’s oh so the truth all of a sudden!!

Apart from all that. If you want to make Money out of EUA you better hope Putler takes a hike. It will help a lot.

When this war started and I was talking to some friends about how much imdetested Putin and his mafia regime (yes for years before all this), they were worried and I just pointed out the scale of difference between Russian and Western economic performance. Basically Russia cannot win. West might be slow to wake up but basically doesn’t need to break in to much of a sweat but for a couple of years of high inflation (not fun I know but we manage). Here we are and Russia can’t get any momentum in the war. Just a matter of time before it all goes wrong for Putin.

In fact what Russia needs is to get rid of Putin and everyone associated and anyone associated with unfair elections, get democratic and invite the west to come in and develop all of those resources they have failed to make full use of (like the incessant EUA have) and westernise! Russians wiLl be better off. Then they should join NATO as -art of the worlds hedge v Chinese expansion.

LOLs for the contrarian - look at this single person - ooooh so credible - nonesense. Real life on the ground Russia is losing long.

MSMN will lay out the plan for the next year. IMO it will be in February but obviously non of us have a crystal ball.

Expect reserves update soon/depends on health of the expert as they were taking some time off sick.

Funding wise they will be absolutely aware of the conflict between raising funds and dilution. If they want to find an alternative route to funding what options do they have - they need to produce more to fund without a placing. You do that by improving productivity of existing wells. Perhaps with an improved reserves report other types of fund raising (loan?) become more likely?

All of this is being done. Yes if you have been invested for 8 years it's frustrating but that is the nature of this kind of company.

Me - I bought recently because I can see MSMN are at an inflection point where if a few things happen the market cap can increase significantly (not multi bags - it's not that kind of prospect). I was disappointed that the recent drill success didn't do anything for the share price but as many of you say - that's because the market knows there is planning to do and publish and they need to show how that relates to funding.

Also, market needs to see that the recent well has long term potential. Will look better if it's still doing well for the next production report due April. Wells can and do behave erratically, especially if they are new.

Well he might well have been pushed or he might just haver had enough. We may never no.

However won't impact getting a drill whatsoever. It's not like DM drill the holes himself and the new CEO won't either!

I suppose it's possible that some drill suppliers might have liked working with DM and it can make it harder to secure contracts if a key person steps away at the wrong time. I note that DM always talked about 'we' when talking about this so I don't think he is a one man show on drill acquisition.

If you think he was pushed you can't then argue that he wouldn't have stepped down if a drill contract was pending. Just contradictory. In my view he was somewhat pushed but amicable enough that he is still around to offer advice. Most likely he got a toasting from larger investors - especially those that took part in the recent fund raise - DM started to look like the sailor who shot the albatros.

What do you think the BOD should 'NOW'.

I think we will find they are going lot's of something and we will find out when it's viable to tell us what the something is.

Whilst the comms haven't been good I don't see that as the issue. I will take a crap communicator that can confirm a discovery of Helium over a great communicator that doesnt every day of the week.

Right now this is a very binary investment. This is a single purpose outfit and I just want them to get a drill in the ground based on the best science Lorna and the team can do.

Not much immediate impact on the SP. However it is probably more fragile again with more downside than it had before DM walked. All this needs is a believable drilling plan with a contracted drill company and all will be forgotten.

My view is that if I stay in it's because I still believe they will drill. If they drill be get rewarded. If I don't believe a drill will happen I should sell. SP ahead of announcing a drill plan may provide another entry point to accumulate and average down.

Hindsight is useful for an investor but emotional attachment isn't. Crying like a baby because you got your entry point wrong - fine as long as you blame yourself. Always assume you can lose in this game and only invest what you can afford to lose. Simple.

Yesterdays RNS was good. There is potential. No guarantees. Nobody should invest in a company like this without realising that the chance of real success is less than the chance of failure.

I expect those invested here know the risks. Yesterdays RNS was promising. No? Could drill and get good grades? High risk but less so after that RNS?

I reckon a lot of potential investors have added ECR to a watchlist since yesterdays RNS. Very encouraging.

Are they talking this up? Don't think this is anything new on the face of it but very positive messaging on current production.

'The Cinnabar-1 well is now on production and has delivered a material increase in production, which will be reflected in the next quarterly production report.

The initial 24 hour flow test rates at Cinnabar were 120 bopd of oil and 180 Mcfd gas (total of 150 boepd)'