Member Info for Strider4

Frankly, anybody shorting this stock at these levels, and with the drill results coming soon needs their head examining. It would be a pure gamble on Calao coming up a duster, and even then what are you going to achieve? A couple of pence off the price for your gamble - and you would have to be quick on the close button too, as I see the buyers flooding in at 15p and below.

As things stands, there are plenty watching, hoping it falls lower so they can get their buy in price...well guess what folks, you may end up sat watching the boat sail away without you.

JS, yes it would be good tactics I think (holding back the PEA for the drill permits to come through), although I don't think that was zoros' angle, who seems to have gone into full on bashing mode.

The drill permits bring in the tangible and ongoing zaz factor (as opposed to the intangible corporate action factor, which is ever present but ethereal).

The two have nothing to do with each other. The drilling permits are for the regional concessions and the PEA is for Cascabel. What gives zoros?

As Qalibashi said, this is a waste of time. Shorting has been around for over a century and there is too much money in it. It's here to stay - like it or lump it.

It just ain't going to happen. Shorting has been around for over a hundred years and it isn't going away. There's too much money in it. Roll with the punches.

Twohits, yes you would have thought that a trip back to suay chin would be the first option. I think they will do a raise in the next couple of months.

GFD - No need for me to trawl back through the BB - there is no way that this is financed to production. It is simple maths; the burn rate says otherwise.

Twohits, ok thanks for clarifying. I suspect that given the high burn rate, they will be doing a placing again quite soon, as they won't risk the coffers going too low (puts them in a weak bargaining position)...unless someone can provide a compelling argument to the contrary?

Can anyone explain how the cash went down from £3.7m (Dec 17) to £1.7m (Dec 18), including a £1.5m raise in June 18?! It appears that they burnt £3.5m in one year, and yet the interims report HY operating losses on the order of £350-500k (so £0.7-1m/yr). There's a £2.5m discrepancy.

WSO, have to partially disagree with your 3:44 post. Pad comes up with quite a few useful links and insights. Earthling not so much.

Wso, I hope you are right wrt to the drilling permits, as I see these as a key excitement generator this year, alongside the constant (currently background) potential for corporate activity. The company line has also been consistent wrt to scout drilling permit timelines: SG stating 6 months in early October. The PV RNS in Jan indicating Q1 and the most recent Feb presentation showing the 2019 budget with a heavy allocation to the regionals.

You're welcome, Captbonio and au96.

Westie: "China old chap, everyone is entitled to their opinion. That's what a discussion board is all about. I don't agree with your theories and would respectfully suggest you contact Nick directly who i'm sure will allay your fears. I do think your "blind faith" comment is a little condescending though"

LOL - if that isn't condescending then what is?

China - I did warn the board several weeks ago that Fulmar is a bell end. Didn't get any thanks though :)

Back of fag packet style, as is:
1) $50m odd in the bank (no debt).
2) OBA, pumping station upgrade and license to pump at least 9k bopd - $50m.
3) Platanillo at 2-3k bopd, with access to the OBA - $50m.
4) Putamayo concessions - $100m (Occi just paid about that for their farm-in to approx. half the acreage and there were others who offered more but "weren't the best fit").
5) CPO5 - $100m, as is (Indico and Marriposa success, the rest potential but unknown). I'm confident that if it went on offer at $100m you'd have companies queuing up for it.

So, that's what I believe to be a conservative total of $350m (£263m), which equates to 21.6p. And that is the "as is" case. If AMER continues to get some big hits then this goes out of the window.

For those who are new to the share - a few have popped up recently:

1) Alpala - proven Tier 1 copper-gold porphyry.
2) Exploration upside - 11 other primary targets with 5 priority. All show surface potential to be significant resources. Latest news - PV15 surface expression better than Alpala (03/01/19)
3) Cashed up ($104 million in the bank - Oct 18)
4) CEO has plenty of skin in the game (90m shares + a gazillion options).
5) 2 Majors on the share register (Newcrest and BHP) and recently active:
a) BHP unveiled new investment strategy - projects that could turn into the next tier 1s...well we have that confirmed already here. BHP's recent (Sept 18) "aggressive" purchase of Guyana's 6% stake, followed up by an "efficient" purchase of a further 5% at a 30% premium to the then market price (Oct 18).
b) Newcrest upped it's stake by 2% to 15% (Dec 18) in an off-market transaction at a 15% premium (40p) to then share price (36p).
6) Strong upcoming newsflow (PEA - ANYTIME (Q1 - 19), drill permits - PV RNS implied Q1 - 2019 budget allocation backs this up, assays for Alpala, regional news - 7 month backlog due anytime, resource updates, potential conditional funding packages, PFS at end 2019).
And the biggie - Takeover Offer (this is a very real possibility given the tier 1 Cu resource and two Majors on board, both recently active).
7) Ecuador making the right moves to become a mining friendly jurisdiction. It needs revenue to replace depleting oil supplies and it doesn't have to look far to see how rewarding good mining policies can be (Chile), if you've got the natural resources.

"$1.5 billion tilt" won't get Rio the prize - lol. It would just open proceedings.

Discussion last night has prompted me to highlight some of managements key qualities, not to be under-estimated:

1) Prudence - maintaining a strong balance sheet - the basics but how many CEOs of small and large companies just can't seem to manage it.
2) Vision, tempered by practicality - buying the licenses for a song during the downturn, but not just any licenses - hugely prospective ones. Building the OBA early, starting the process during the downturn.

Really, what I think it all comes down to, thinking about it further, is that JW is tight! That's a really good quality for a CEO - they don't like wasting money, don't like debt and like a bargain!

Just pipped to number 2 by a punters' favourite, PREM. BMN on the top spot as ever.

A dubious accolade I know but any attention is good right?! Let's have another day of the same ...only joking.

JS, ha ha. Yes, £2 would certainly suit me :)

Lol, Jerryspaniel is at least twice as intelligent as you Earthling. You got into GGP of the back of a tip off from FR didn't you? How's that working out? How's WRES working out? Late to the party at BMN but gobby on there from the start - like I said yesterday your banal, pointless statements stand out like a sore thumb on that informed board. I'd say you're an excellent fit for the WRES board, come to think of it.

You've had your once in a lifetime luckout here. I haven't seen anything from you that suggests you've got the wherewithal to actually pick a second one. Still, pigs may fly.

Looks like Zoros has you sussed Earthling.