Member Info for TarryBreeks

Suggesting people sell up and move on probably won't help the shareprice either though Max ;)

Even if their hands are tied on everything else the BOD could issue an RNS stating their salary rises will be suspended until we are producing - that would buy them a little goodwill and lets be honest at his previous £30k/month Bhattacharjee is hardly going to be on beans on toast is he?

I would hope so Fira, I think we've been significantly oversold.

That said this is a retail share and the horde are off chasing rainbows elsewhere. I think having confirmation of Cobre deliveries would certainly provide a boost and help reassure investors - despite the fact we're not really in a financially worse position due to the deal JP negotiated with the client.

Of course we will also have to contend with the possibility that when we do start to rise that Resilliance could start offloading some of their shares and dampen the rise but I suspect that won't happen until LCCM starts deliveries at which point I firmly believe that sub 2p will be a distant memory.

"even if not perhaps the best deal that might have been hoped for"

It's not even a good deal Drewky let alone the best deal and as you correctly point out the BOD awarding themselves huge pay rises with the shareprice in perpetual decline adds insult to injury.

Director deals of a few thousand pounds and an investor evening haven't exactly turned around market sentiment either have they?

I hope SirRob is right and there is another RNS in 10 days time however on past experience I won't be holding my breath. It's about time Bhattacharjee started earning his self awarded pay rise and did something about the share price.

At least he didn't say back-to-back kenrun ;)

At this rate the BOD will be giving themselves another pay rise. Well done Bhattacherjee well done *slow clap*

Directors can't deal if they are in possession of price sensitive information. That may, or may not be the case here but resumption of Magnetite delivery to our largest customer would certainly be price sensitive (as would cancellation of the contract) and this news (resumption) may be in the pipeline. If so directors would be prohibited from dealing. It would be nice to return to 2p level in preparation for updates from Redmoor and LCCM.

I don't think you're alone by a long shot PowerPlay, it might be a rammy of LTH's to get out the door first lol.

15p would give Aminex a m/c of £540m although I'm sad to say it I suspect we'll be waiting more than 2 years to reach 15p PP.

Agreed blacksheep, in anticipation I hope you've got your three bags full .... of SML shares.

I know I have. ;)

Malcy said "shareholders will be very very well rewarded in the long term" and as we now know back-to-back is 18 months+ so we could be in for another long wait.

More like 40 minutes in. Malcy said "... shareholders will be very very rewarded in the long term ..." wonder if long term is longer than back-to-back? Fortunately if you are the BOD you need not wait for your reward. Nope huge pay rise and back slaps all round! And if shareholders aren't happy and the never ending decline in shareprice? We can just blame shorters and market makers. Hope you're all happy waiting "long term" for a reward, I'll bet the BOD are. And no I'm not over it yet.

Don't mention XTR Chaz, you'll start the nightmares off again!

1.275 - can't believe we're bobbing about down here - fully funded drilling programme, no debt, self-funding. Seems crazy but I'll be buying a few more while funds allow and the market is off chasing rainbows elsewhere.

Very interesting IM so if we find commercial oil we'll be diluted yet further down to a maximum 18.75% of Ruvuma?

A new pad would delay the drill. If it is to move it would make sense to do this on the basis of 3D seismic data which we have not officially started yet.

Drewky, everyone is entitled to their own opinions and entitled to share them. This forum provides a place for us to share our thoughts and concerns about our investment and we should at all times be considering if those who are managing that investment are managing it well. I do not believe it is in anyone's interest for this board to be a rampfest where only positive thoughts about the bod and company are posted and anyone with concerns should keep their concerns private. Have the BOD managed our investment well and do they deserve a huge pay rise? I think not. Will this farm out deal prove beneficial to PIs? That remains to be seen.

... or holding until CH1.

If we can get KN1 running and producing that would be a start although I believe this would be around half of the 15mmcfd we were previously producing although any income would be helpful as it's only KN1 and the $5m from ART?Zubair that we'll have until we're producing at CH1 from 2020.

We had $6m in the bank in December and we'll have burned through some of that now. We'll get $5m from ART so say $9m to last until 2020 (without KN1). We won't be drilling anything else on our own so we have to hope that's enough to cover costs, salaries, KN1 and some seismics at Nyuni. It should be but it's tight and anything outside of Ruvuma probably isn't possible until 2022 if we assume KS is $15-20m (and that TPDC will allow us to drill it).

Full field production will be ~ 2024 blackgold; we are funded up to $35m but we wont get any under spend back in a lump sum that we could do anything meaningful with, for instance drill KS1.

It is a relatively safe investment PP although I'm not sure about sizable it will definitely bring investors a return. I'd hope now to see 5p post CH1. More if we hit commercial oil so anyone getting in now is assured of a bag in the next 6 months IMO. Those of us with higher targets or averages than 5p before 2020 may need to revise our expectations.