Member Info for Steve4077

>> Funding to be completed by March. Was this always the case ?

December 11th RNS stated: "We are on track for the principal outstanding Ethiopian Project financing-related matters to be completed in the coming weeks, with financial closing and the start of development planned for Q1 2021"

So that RNS said Q1 and this RNS states March. Target hasn't changed, but it is now more specific.

I wouldn't get over-optimistic on the grades, or it might seem disappointing when it is actually fine in reality.

Porphyry grades tends to be quite low. Anything above 0.3% would be fine and anything above 0.5% would be very good. Its about volume rather than grade. I'm concerned that if we build up the grade potential too much, then a reasonable grade would be treated as a failure and perhaps result in a sell-off.

I'm as excited as everyone else here but lets set our expectations based on other porphyries, especially those nearby.

@Trek

I really appreciate the detailed risks breakdown. It was plainly not a de-ramp, but rather a review of the potential risks from the perspective of examining both sides of an investment. I'm invested here and plan to remain so, but only looking at the upside is never a good idea.

Interactive Investor and the Financial Times are both now quoting 5.15, which makes sense as the closing price. Google Finance still has 4.7.

Normally, there is either a uncrossed trade about 16.35 (although it can be later sometimes) or the price will be set at the mid-point of the bid-ask, which in this case would be 5.15.

It wasn't an uncrossed trade. 333,300 shares bought at 4.7 (bid is 5.1) went through at 16.32.

Trade just went through on L2 for 90k shares at 5.5p.

Can't buy anything on II. Went down as low as £250. Good sign going into the weekend.

>> Been in this dog on and off six years and if you had you be well aware that it is a dog.

Why are you investing in a stock that you think its a dog? That doesn't seem to be a great investment strategy.

I just had a quick look at director purchases. The finance director also bought four million shares in November.

>> Erm....not so sure about that.....in lieu of directors fees, so arguable if he actually unzipped his wallet and actually parted with any actual drachmas.

LOL so if he receives money from the company that he then uses to buy shares, that is good. But if he takes the shares instead of the money, that is somehow bad. Interesting logic, but understandable given your perspective :)

Fevertree's point that Harry has missed several finance deadlines is fine. Other posters have made the same point, so people can look at the facts and make their own minds up regarding the parties involved, including the EG government, and the current Q1 deadline.

However, he says the same thing ten different ways in ten different new threads almost every day. That constant repetitive negativity is why he is a de-ramper.

Yes, and based on one of the posters from earlier (who was part of the placing) it was almost 3x oversubscribed. He only received 36% of requested shares.

Because he is a de-ramper who doesn't actually own shares. He is probably paid peanuts by a trader to cause fear and make people doubt their investments, so that trader can either buy as cheap as possible before finance or is on a short. It's a job that requires a certain type of person (who is not usually fun at parties).

>> No anticipation of funding being sorted and SP in decline again..

Share price is currently same as start of January and up 19% since start of December. Its actually holding fairly well considering the history of missed finance. There seems to be be some optimism that it will happen this time :)

Last RNS said Q1 for finance, although it did mention 'coming weeks', so I hope Feb rather than March. Lets see what happens.

>> How do you filter the crazy out please ?!

Click the Filters tab above the blue Post Message bar. Type or copy name into the text box and press enter. Then relax :)

Filtered the endless prattling and I feel much better now :)

I suggest others do the same rather than engage with the trolling of someone who plainly isn't invested.

I was annoyed at 7.30am this morning when I saw the raising, as I was one of those who believed the current drilling was funded.

However, the more I have thought about it since, the happier I am. It draws a line under the huge volatility of the last few days, creates a new baseline and gives everyone confidence that we are fully funded to explore this prospect and others. It might even be that the drilling was funded but CB took the opportunity to fund-raise on excellent news.

As noted by the previous poster, it also takes the financial and timescale pressure off when it comes to negotiation for buyouts or JVs, which I hadn't considered.

It helps that my average is 20% below the placing, despite topping up at 6.4 (Aargh!) and then 5.2 (now looking OK) yesterday, but even for those buying in higher I think it will still be a great decision in the medium term. This really could be the start of something special.

Fevertreeman you have a very unusual posting style with all the dots instead of punctuation. However, remarkably similar in both style and sentiment to drst2012. You two related?

>> @Steve I suspect a placing will be landing over at XTR this week,.thats why I closed out at XTR. It is Colin Bird after all. Let see if I'm right. My personal take, thats all.

Popping in to admit you were right :)

Still happy with my holding, especially with money in the bank, and also glad I bought COBR on Monday!