Member Info for Swanley

Yeah, I think I would have liked to see Sanama get drilled first and proved up before scout drilling elsewhere, but I guess it was a big show of force "we're coming in and will find gold and then set the market alight" but it was a risky strategy. I hope they're right when they state that they now understand the geological controls, and time will only tell in this next drill campaign. If RM is reading, I'd really like to see a plan of where the next 5000m will go in all of the 19 Tect targets... Hope everyone here has a good weekend.

Yes, agreed, that's the nature of the beast when investing in small companies such as this in the AIM market. Not sure how we can say it's a dud at the moment, until all drilling has been completed on all significant targets and infill drilling on those targets found. RM said his expectation was for more than 3m oz gold to become economic for a mine (i.e. successful) and so far, whilst TZ2 has been disappointing, we have more gold than expected at Sanama Hill and we have a new Southern target as yet undetermined in size and 17, yes 17 other targets to be explored. My money's on them meeting or exceeding that 3m oz target to become economic. Time will tell though!

? Placing for new equity is always at 0.1p... Issue price here is 0.25p.. Same with Equity raised on March 14th too. £0.5m raised through equity with 128m shares placed at 0.1p and issued at 0.4p. Would you have said the same about the company in March when it did this? Seen a lot of sells and yesterday/today, a lot of buys too. Not sure that it can be said that this company is going bust given the oversubscription and high volumes of trades (both sells and buys) and the ongoing drill campaign to prove up 2 gold assets and scout for further targets based on recent Tect review.

Hello Kimura, Who is saying Sanama Hill is the last resort?

Yes, it looks like the placing at 0.25 and subscription at 0.35 will keep this price from going any lower and kickstart the next 5 wave impulse move. For that to happen, price would need to head back to about 0.55 territory and that would need some positive drill news... Fingers crossed.

Think it's a tad early to tell that... only 4 days into phase 3!

Hello mate, 5000m in phase 3 which began on Monday this week. I suspect it's in the upper end of 1.5m Oz and possibly more given the oxide zone found. Sanama is TZ0 for which you can see the results in the last few RNS.

Valid point..

Ridiculous volumes but more buys than sells today.

Dunno, probably people who were here for short term gain hoping this would rocket on news or people who have lost faith in long term value.

Yeah I'm still fully in. Will reassess after phase 3 as there will be a definite need for equity after that and also no activity until at least November due to rainy season, so if these next results are bad, I'll be saying farewell to RM/Sula.

All in mate. Look through the last few RNS. Next results due after current 5000m campaign which started Monday or phase 3 as it's been labelled. RM said this will be done during June/July with results presumably in July/August.

Given an interview or had an interview for another job?! ;) I've not seen anything except a stiff upper lip and radio silence. Makes sense now why the previous TZ4 news was released as the rest of the drill results were hidden in an operational update... Looks good if you scroll through the titles of the recent RNS releases... Would be interested to hear what he has to say for himself post results...

Emotionally, the last 3 RNS statements since May 12th have sucked big time and like many others, I’m hugely disappointed by the lack of decent gold grades and discoveries across the Ferensola estate so far (outside of Sanama Hill). I won’t say I’m disappointed with RM because this is exploration after all (I don’t believe we were misled) and given the size of the licence area, the complex geology, the different mineralisation and the relatively small number of cores drilled in the first and second batch, the chances of hitting gold were realistically quite low. But the results were really not good outside of Sanama Hill. What’s disappointing is that the most enticing prospect: TZ2, has no gold at all, after promising so much on the IP survey (and that roadside sample) and whilst TZ4 has some gold, it’s not enough so far to write home about. So what was a healthy £60k paper profit for me just before May 12th is today a marginal profit sitting fractionally just above breakeven. *and breathe* Unemotionally and technically, the charts show that it was the long term trend of the weekly 100ema that served up the big slap down on May 12th and price has headed south ever since. The learning in there (for me at least) is that regardless of the news, that’s the first time the 100ema has been tested for years so price was likely always to react negatively to it – and did! However, on the weekly chart, believe it or not, but the 50ma will cross the 100ma probably next week or definitely the week after (despite the recent down trend) which will make it officially an upwards trend for the first time in years: 20ma and 50ma above the 100ma. The 200ma is a long way off up at above 1.2p (sound familiar Zak Mir?). In addition to the above, the current price reaction is way oversold and way outside of the Bollinger bands and Stochastic low at a weekly level and this is also true on the Stochastic and RSI at the daily level. The current price is also just above the first high from mid-November 2016 which ‘could’ provide some support and there’s also the weekly 50ma which ‘may’ also provide some support. Whilst the MACD indicates it’s not yet done with downward movement, there ‘should’ be a technical recovery as the indicators turn back upwards. This ‘could’ be driven by the next wave of 5000m drilling to reverse the current downward trend if people are brave enough to buy in anticipation of positive results (lol). So it is a buying opportunity, but one now with a lot more risk. I’m telling myself to remember that they probably have somewhere on the upper scale of the 1.5m oz from Sanama Hill alone which has to be worth something but which is not yet economic enough for a mine. I reckon the next 5000m drilling will make or break SULA – they need to prove the geological controls to give confidence. I hope not too many were burnt

Roger's just tweeted: "We have trillions of ounces of gold 3 inches beneath the ground, all it needs is dusting off with the broom and then it's ready to sell to the Chinese." * *May not be entirely true. RNS should be due tomorrow to say that drilling has started (based on message 2 RNS' ago), still waiting for the change to SULA Gold and it was "in the next few days or next week or the week after" for the remaining core results. Come on Roger, get your finger out.

Hello S4K Security, Plenty of gold here, just got to prove it all up and get that JORC before they can even think about doing an economic feasibility study and then going for a mine. Until then, gold prices aren't having much influence since the gold's still in the ground. One step at a time, they need to focus on completing the exploration and getting that resource estimate first which will probably run into 2018. Until then, it could easily still be a failure if less gold is found than the minimum needed to be economic. Given that, the geology there is favourable, but there's a lot more work to do to validate that and cost and shareholder patience, both of which are waning a bit at the moment I feel. Let's hope the next set of results and subsequent set of drilling yield positive results. No pressure Roger!

All good here thanks, apart from some similarly bad sunburn coming off in sheets following an unprepared fishing trip. I recall RM saying results would be published as and when they came in, but I too thought it was odd to release news on just 2 cores as I would expect analysis to be dispatched for all cores at the same time from ALS. I think it's an attempt to stop the SP diving further. Gotta hope there's some good results in the remaining 7 cores. Ideally more gold in the 2 Sanama hill cores, confirmation of TZ4 in the 2nd core there and something also in Kuwait. I'm not expecting anything further in the remaining TZ2 cores, with the exception of the collar they put right under the road - but suspect that's more to do with TZ4 than TZ2 based on how they've blanked so far on TZ2. GLA

RM stated previously that after this round of testing results were in, they'd look to raise equity to fund the next round of drilling. However, the recent agreement with EQD for the next 5000m of drilling hasn't caused any equity raise yet... I suspect that they're first waiting for the results to come in for the remaining 7 holes with a hope that the SP increases before an equity raise... Guess time will tell.

Evening Rev, Wondered where you've been hiding of late, turns out you've been sunning yourself in Portugal. Hope you had a good hol'. Not missed much here tbh, results just starting to come in, should see more over the next week or so along with next phase of drilling starting. Might stretch to a ginger beer. It is a school night after all.

Looks like gold's broken the trend line of around 1272 (yesterday) which could mean a decent rise from these levels. All good news for gold explorers.... Just got to find some gold now eh! ;)