Member Info for Strider4

to the after hours sale of £14k at 5.7p. The interesting thing is the high sale price achieved for a sizable trade, quite close to the mid, suggesting that the MMs are happy to stock up on a few shares now with a view to the price rising over the next few days.

On the back of that second most encouraging piece of news I bought some more. Getting a sizable tax return from an African government in a timely manner is another very good indication that they are keen to get this mine built quickly.

Yes there was. Check the RNS that coincides with the shareprice rocketing up!

Ah well, don't take your opportunity to post something positive then - cut off your nose to spite your face! I don't believe I have been ramping - care to point out where? But good to hear that you think this will almost certainly make money.

My response is I've noted your facts. Now I'd like to know if you have any positive ideas to add?

Jilson, And do you not like my question? It was simple enough.

Jilson, I believe you're invested here. How about sharing some of the positive reasons why you remain so...

Jilson, Losses were £3.5 million for the FULL YEAR, not just H2. So that works out at approximately £1.75 million per halfyear. But bear in mind that last year was one of restructuring and change. Therefore, we might expect losses to come down a fair bit this year. Let's say a conservative £2.5 million, assuming no major contract wins. that would equate to a loss of £1.25 million per half year. Since they raised £1 million about 3 months ago, I'd say there is at least 2 months breathing space before they might need to come back to the market...

Kammi, I have no doubt at all that they will need to come back to the market again at some point. However, given their recent raise of £1 million, and their burn rate of approx. £1.5 million/yr, there is at least 4 or 5 months breathing room here.

The company will still have plenty left from their £1million raise at 0.2p at the end of January, so there should be no placing fears now.

Directors not director's!

Director's own about 30% of the company. Always a very positive sign. The only sure-fire way to ensure that their interests are fully aligned with ours!

Chart looks very strong to me. So I've bought in.

SMT - not forgotten, but somewhat discounted. I don't think near-term production revenues are going to come anywhere near enough to cover the loan. There are always teething problems.

TDT, it's all IFs and BUTs at the moment though. If they get Chinese or Russian long-term funding the watch this rocket. But that has yet to happen and it's very much not assured!

TheBeastofBodmin, "I very much doubt they are going to learn much here, for starters the loan in May no one on these boards knows how that will be paid back, or extended or...???" Too true and the market hates uncertainty. "In regards to dilution until we see clarification that is the case and the company has recursively said they are looking to avoid that scenario, it is simply an assumption not fact." Despite the board saying that, they've been dishing out shares like confetti to pay the fees associated with this diabolical loan! I previously worked out that those fee paying shares are approximately 33% of what they would have had to issue if the whole lot were via a placing - I know which I'd prefer!

And I hope they have (but doubt it) someone (either them or a secretary) who reads these BBs as it is a decent place to get an idea of PI sentiment. They might learn something!

Why management is not making sorting finance a NUMBER 1 priority is beyond me. I just get the impression that they are so focussed on getting the projects up to speed that they neglect this aspect. Such a shame, as this shareprice would be off to the races IF long term finance was in place. Without it, any good news they release won't have any significant impact.

Yes you are right rattie. $1 million is nothing to worry about. It's only 10% of the companies market cap and due for repayment in full very soon. Unless of course they kick the can further down the road (quite likely) and pay another shed load of exorbitant fees for the pleasure, with no sign of PROPER finance anywhere in sight. But yes rattie, you are quite right - I should be looking at the bigger picture, not concerned about little details like debt and finance.

Of course this is good news. In fact it is very good news - not completely approved but a big step in the right direction. BUT what the market really wants to hear about is funding! I mean the BOD really need a wake up call here. They have to spend a LOT more time arranging some more suitable finance, because what they currently have in place is just TERRIBLE. If they can't do better than that then they ought to resign.