Member Info for Skippysb01

Can't you bed and ISA more than £20k if it's an ISA you have been growing for many years?

They really really have not.

Good grief.

The RNS said that sending the cores to the lab was expedited. The testing at the lab IS NOT EXPEDITED!! You can read it in the RNS.

The assays are not late. They are due any day now but that could be over the next few weeks too.

If you read the RNS's we know that the initial breccia cores from hole 1 are at the lab. We also know that the work at the lab started. So it's reasonable to assume that normal timelines apply from the labs perspective. But what are normal timelines?

The labs are busy places. Last time it took about 8 weeks so expect similar - previous timeline is a fair planning assumptions based on no other data.

Initial assays for hole 1 any day now.

Yes they will release them and not hold them back for more cores to be assessed. You better hope so. The rules are that they can collate a number of assays within a project and release them together. However the rules are also that if they have material news it must be released to the market. So if you want material news we will get hole 2 assays when they are issued by ALS labs. If not then they are not good enough.

Holding back materially important assays results will get WSBN in trouble. That's insider info that's too hot to keep secret.

Considering that the current SP is about the same as the placing price and that the majority of the placing shares were forward sold. There will be no impact from the placing shares being available to trade tomorrow.

This is the longest we have ever had to wait for an RNS from HEX.

A number of things are due any day now:

= Reserves update following the 4 successful drills.

= Plant update - expect to hear when it is tied into a well, subsequent wells, test runs etc. Dependent of parts of course.

= Off-take / sales arrangements.

Alternatively - sale of entire asset. Possible if not likely without the items above.

If you are concerned by the wait - I would hold onto your hat. News will come fast when it does. It gets harder to provide less than material news in RNS at this stage. Everything gets criticised. Bo will want the next news to show momentum.

I expect they 'believe' that the assays they sent to ALS labs are going to return strong results and on that basis they took advantage of the SP to raise funds that will enable more drilling assuming that the assays from drill 1 and then 2 allow them to focus efforts on the right geology.

Everything hangs on the assays results. We will probably get a presentation / interview from Poulden and clearer drill plan. Right now, they don't know where to stick those holes beyond informed guesswork.

... and no, they don't have any indications from the lab yet. If you remove that from the equation then all of this makes a sense.

Sorry Manifesto but the placing shares were already completely taken up then they announced the RNS. SO they are not struggling to get the placing away whatsoever. An odd post to say the least.

Let it settle this morning. The any late reported trades are Systematic Internaliser trades and not processed normally on the exchange. Don't see it too often.

looks like an investment house has a bunch of shares they are selling directly to a client/clients. I think it probably bodes well. Makes the chart look odd but it's just timing of hen the trades are reported v the real time trades on the main exchange.

Nobody is trying to rip you off. The SP is down because of the additional liquidity driven by sells in the early market. Nothing new.

My note below was for aiminvesting.

I am invested here. I was responding about the risk. In my view it's mad to go all in on any stock and certainly not one like this. I have invested funds I can afford to lose. I'm not trying to tell anyone what to do or have a go at WSBN. My decision, my risk etc.

The point is that nobody has X-ray specs to see what is underground and calculate how much valuable metal there is 100s of meters below the ground. no amount of geology/geophysics/core photos or anything else can change the fact that until we see the assays results we just don't know. The breccia find is positive but it does not guarantee anything at all.

There are some things you just don't write down on a forum.

This is a very high risk stock. You would be better putting in on a 20/1 shot on the nags TBH. The assays will have to be exceptional at this stage. INHO it could take years to prove the asset if it is indeed what WSBN want it to be.

I do wish you luck.

Because they are extending holes already drilled previously I would expect good news to be further and improved gold and copper values. That supports the argument that the find improves deeper into the dome.

They did find gold last time but the indications at shallower depths were not strong enough but deserved further attention.

We are waiting for hole 1. Hole 1 assays are still with the lab. Could get them any day now but they are not late.

It isn’t the job of a director to sacrifice their financial

Future on the altar of the company.

The BOD do not know what is in the assays until the lab tells them.

Also, if they do know more than we know then they are not aloud to buy or sell shares due to insider trading rules. I would be amazed if they bought shares at this time, far too likely to be accused of insider trading IMHO.

I don't think 4% is low for a director. There are plenty of successful AIM companies where the BOD has not much or even no shares. SO I don't get this assessment. 4% is plenty of incentive.

Good discussion. We can agree and disagree and still learn.

Ultimately for me. I have been watching/investing in WSBN for several years. The last time they drilled at Red Setter I took quite a hit. The assays RNS covered more holes but shallower. They were not terrible, there was gold, not enough to confirm a commercial discovery but enough to warrant further investigation. It's taken a long time to get back into drilling deeper. There has been a lot of dilution since then and I think WSBN have been quite close to not making it. Poulsen is an utter nob. Go and find some of his interviews - he's very very bad at public speaking and called a woman 'you stupid woman' in a shareholder update last year. Do not trust the BOD of gold mining companies - it's easier if you don't.

It's high risk. whether you think the assays will be good or not - you simply do not know. If they are exceptional then it will fly but mediocre, encouraging or just bad is going to rinse the SP very quickly.

Manage you capital accordingly. For me it felt appropriate to sell after the last RNS - that was quite a spike for not much news TBH. I was very very lucky not to be invested for the placing and have now bought back in. If the SP rises significantly before assays I will be selling half. That's just how I manage the risk. I find that not believing any of the hype works best for me.

GLA. assay results for hole one could be any day now.

The placees won't care a jot because they made enough profit by forward selling the placement shares.

WSBN do not know what is in the assays. It's chemistry - not opening a packet of golden nuggets. Nothing obvious or certain about the cores until they are processed by the lab. Wishbone took the opportunity to raise funds whilst they can at good value. This provides funding certainty. Any BOD would do the same. How would they explain going bust because funding ran out if the assay result are just average - i.e. assays and geology point to an opportunity but with only 2 deep drills they don't have enough yet to convince the market. BOD has to manage risk of 'going concern'. Nobody is trying to trick you.

Now cab but probably too late :(

HL also has not unsuspended UKOG!

Tiger -- why do you think news is 4 weeks away? I think we are in the zone now for assays. Could be anytime in the next couple of weeks now?