Member Info for theiceberg

Thanks for that clarity that the shares will be issued considerably above the current SP.
Thatvdrilljng will Resume this week, probably wed Thursday imo.
That smp will take a substantial amount of our costs as well as all of their costs.

Excellent

Feel like climbing into a mountain sometimes and shouting.
IF SMP have agreed to pay for external costs they won’t just hand out a cheque for 1m. They will wait for the full figure to be known then make an offer after a bit of haggling. Even then the invoice will likely take 30 days to settle. Aaog won’t get any money this year imho.
Equally re the insurance, IF aaog have been told they will likely get it, it won’t be this year. Despite all this aaog have to pay another month or two of drill costs, wages etc.
They will need the money.
There is no conspiracy. Just simple business.
Aaog could have used 2,3 maybe 4m but have instead limited it to 1m.

No. Not in any way. It was simply the down hole momentum brakes. Why would you get a new car, if you needed to replace the brake pads. No.

I know a few folks have talked about a death spiral. For many of the reasons already mentioned i really don't buy that.

However i do think this is another underhand tactic. Seen in many of oil companies prior success drills.
The practice of allowing mates/friends/supports to load up on cheaper shares.
I don't like this, It stinks. But.....
Rather than complain, If folks can and are prepared to take on some risk, then the best think to do is take advantage of this as well.
I do feel for folks with a 12-13p average, the ramping at that level wasnt smart, the company might well and probably will be excess of that , but its still painful seeing others getting in far cheaper.

Just had a small amount of shares £2.5k's worth at 7.234 Looks like the lowest price for months.
Indeed happy to have the cheapest AAOG shares for over a year. Considering we are pretty close to the first drill target and nothing geological has happened. I will have a few more today, but never look a gift horse in the mouth.

It doesn’t make sense. You think they are going to sell at. 20% loss in the hope they can get some cheaper shares and in the hope the company doesn’t hit oil and in the hope the pi Doesn’t just soak up 5% five daily volumes are 2-4% anyway?

They don’t work like that. They work on guaranteed no risk money. I can maybe see then selling at 12-14p. It might keep the sp down for 2-3 days when they do that but that’s about it.

How can u have a death spiral if the shares are 20% above the current price?

Normally the market does like these but 5% above the current price is probably pretty good.

I am not sure anybody can give a target date until the pfs is finished. As to how long? I am not sure tbh it should be shorter than the pfs but it really depends on the project complexity and how detailed the pfs has been anyway. Maybe 12 mths for the dfs?

Btw the drilling can go in parallel with the dfs so no extra time.

More infill drilling is a requirement of a dfs. Post pfs.
Also Sav have been open that more exploration drilling will be carried out.
I don’t think this is new. Nor is it unexpected as it’s just a set requirement.

Not sure that anybody would have sold out on my tweet re the broker letter. I would hope that anybody reading my tweets wouldn’t sell out. The market is sh it at the moment and folks don’t need much of a reason to sell. Market makers brokers and funds have reduced liquidity to a trickle. Then we have cons like ukog taking even more money out.
Re Sav. Heard from Rio though that the jv is still very much on and being managed by Sav with no comment from them until after pfs released. With a major drill compaign for next year.
Oman is still bogged down in jorc updates being required.
Portugal fs progressing well and the latest drill result rns was an incredibly welcome surprise.

I said in my last blog that end of Oct-Nov was always going to be the low point so not long imho until things start to pick up.

Yes, according to the person that broke the news that drilling had stopped, the drilling stopped last friday due to the worn part and the potential future risk. I can't see it taking more than 48 hrs at the most for the rig operators to give an indication of potential down time to replace the magnetos. I can't see it taking a week, not if they are paying for the downtime.

Equally AAOG will def. want the rig up and running by the wed meeting if at all possible.

Yes but it doesn’t say an extra 7-10 days of downtime. Nor does it say 10-14 days of downtime in total. It says smp have advised 7-10 days of time down. When did smp advise this? I assume it wasn’t today.

The email says one week to 10 days of downtime.
Given the downtime started wed possibly prior to that redrill should be next week anywhere from Monday to Friday depending upon when downtime actually started.
It could even be that David will transfer the new part himself from Paris back to the Congo on Monday then a day or two to fit. As a guess.

you can't show pictures on here, but my understanding is that the drill reach the end of of Loame salts as per the diagram below, just prior the PI shale i.e the R targets and the Mengo.
Before going into the target zone of the PI shale checks were undertaken and the worn components found, the extra stress of the targets led to caution and a 5-10 day delay whilst the new parts are sent.

The fact that they are literally above the oil zones now means geological and operational risk is greatly reduced.

It might seem like this is pain and this is just happening to AAOG but its the whole reason why in a 2 month drill a 2-4 weeks contingency is built in, as its a relatively normal event.

That being said the SP will fall, folks will buy in and then it will rise again back to 7-8p range. :)

https://twitter.com/IcebergShares/status/1060431585852313600

Sorry for taking the typing mistakes too little sleep and my phone seems slow or my fingers twice the size.

AsI said in two Twitter. This is grandao 2. Make no mistake the grades and depths, not to mention favourable dip are grandao like. Imho the mistake important Sav rns since the scoping study.
Despite all this the market won’t realise imho.
50-60mt now in 12mths prior production.

A complete non issue.
They are two a penny. The main thing is getting a good nomad.
A bad company needs a good nomad to keep it honest.
A good company just needs a nomad to sign off on things like an account auditor.
Tbh it’s more about Sav shopping around and getting the best deal on a nomad.

For completes sake. I don’t rate sp angel but they aren’t really involved in Sav.

Just imo. But moz is progressing exactly how it should. This stage will take time but it’s all according to the bosses timetable. They’re are no villages in the production area as far as I can see. Drilling indicated that grades were pretty bad near the settlement.

Usual bloodsuckers out peddling c rap.
Firstly he said very clearly an announcement will be made at each interval.
Secondly he said it won’t be until the end that they know the actual results ie flow rates commerciality etc.
Thirdly he can’t sound upbeat or downbeat due to the sensitive nature. It has to procedural only.

I totally get that maybe he shouldn’t have done the interview. But folks don’t know the results yet. There are no leaks. Nobody knows good or bad.

A lot of blood suckers again