Member Info for Toffee2468

Re the Holdings RNS yesterday…

Green Lumber Holdings = associated to a Mr P McGee in Texas.

Based on size of investment and location, would speculate quite likely to be a company linked to the Mr P K McGee who is son-in-law to the late Ross Perot (RP of the political sphere back in the day, billionaire and entrepreneurial founder of EDS)

Generational wealth of the Perot family is circa $5billion for context.

Green Lumber Holding’s slice of SWC would have been around a £6m investment if it was all in at 10th June (although might have been a lower price if they were accumulating earlier), and even with last weeks dip will be worth comfortably double that still. Still holding the same amount of shares, just adjusted for dilution below the 3% declaration threshold.

I would be a nice circular economy moment if that happened. Maybe Smarter Web Company could host it with their know-how.

Ironic that Shard Capital are handling subscription here too for the current capital raise.

Anyway, another stellar day here it seems (and in the US on OTC too - spiked to 8.95USD earlier.

Likewise. Thanks to Ben Turney for the heads-up, as Tea / UEE certificate was firmly in the bottom drawer until his email this week. Wishing him well on Kavango

Light oil, woo hoo - how much????

Speeding ticket answer would be (I guess…)
1. Anticipation of further merlin analysis results
2. Accretion of market interest following recent positive developments in adjacent areas (ie COP indicating plans for 3 pad/200 well programme across coming years at Willow, as an analogue north of 88e at Merlin/Harrier1, and Pantheon’s positives north of Icewine which may extend into 88e leases).

Doesn’t matter anyway, as am convinced the speeding ticket has gone into Dave Wall’s old inbox ;)

(*market regs...)

Correct, 500,000 shares only, but the options were taken at 5.5c, which was pretty much triple what the share price on the open market was at the time, hence the question why an option holder would take this decision (a show of confidence, or more likely a buy based on their inside knowledge of knowing what is coming, and a signal of such to the market; possession of such inside knowledge which would have precluded them from being able to legally buy a much bigger [x3] chunk of shares on the open market, which I’m sure they would have loved to do, but could not because of market refs.)

I posted this earlier on Twitter... ??
Top geologist’s take on the nanushuk play... the commentary on chance of success is enlightening

Yup, grim. Well unless someone pulls a finger out soon otherwise we can expect Contango to be getting their demand for cash back on 24th Dec if the deal is not completed.

Hi Dazzle1000, sorry if any offence taken at all ...honestly and absolutely zero intended, just mixing up handles (as I thought I knew who Dazzle was, but evidently not. Face-palm moment :) )
Was that you sat up front on the window line next to Steve Staley? Will be happy to say hi next time buddy.

Re: Newanda,10:18... that chap now being a Hilcorp guy, right, if I caught SS’s Malguk story correctly....

Anyway, here’s to a rosey future for us all.
Toffeebrads.

A 12p party would do me.... ;)

Seahawks, he also said he'd effectively raised money yesterday with sealing the Pmo deal, so we shouldn't expect an imminent cash raise (although clearly it would be needed in the future to bank roll our share of costs of further development, assuming they get those initial encouraging shows from the drill.

I think it was good that, when they're talk about this conventional drill, they were clear that the primary is the Torok layer at the bottom (before they get to test the HRZ that is), and that the intersection with the other discoveries/prospects in the shallow per layers that we are clipping the edges of would be secondary /tertiary targets with lower chance of commercial success, so hopefully the market doesn't overreact if those early layers don't yield strong news.

Red irons, everything Newanda and Seahawk have written below is on the money from what I took away from the evening too.
Remains a journey for the patient (just over two years at least onwards from next April), but I'm feeling positive.

Was that 5ftwobbly up near the front capturing the audio too this evening per chance?
Sure there will be more good nuggets to come out from the collective memory bank once heads have cleared tomorrow.
Thanks again Mr Wall & Mr Stacey for taking the time.

A Good evening. Encouraging to hear from Dave that PMO bringing some insight to the table (spotting a few nuggets in interpretation that 88e had not seen).
Will be interesting to see what new comes out of the drill phase (expecting RNSs to be released every fortnight or so, and reaching the primary target of the two prospects in the Torok layer after approx 21-28 days of drilling.) time to flow test two out of the three zones before the tundra season closes. Good that we know expectations for the next year (100 barrels per day being good realistic result from the first drill, with horizontals to follow in the return 12 months later), so that people can be realistic in positive case scenarios (rather than expecting a gusher straight off the bat.)

Well, as long as they don’t plan on putting all the £6.45m earnings from Contango’s purchase of Lubu in some new slot machine business and actually return some shareholder value instead.... we can dream perhaps

Estimated 19 days from spud, according to the Otto presentation page 28 that Rivendell posted earlier this morning.

Appreciated the chance to attend last night and hear from Dave.
Have to say, out of the venues so far, the Forge gets my fewest votes for repeat use in the future.
(Sat on the back row, where it was super loud from the noise of the Friday crowd in the pub, almost matched by the impressive loudness of one or two of the waistcoats on show up the front of the audience :) ... Just what has Gareth Southgate unleashed? :) But would up-vote for the Brewery any day, or the globe even, although that was a little crammed last time too. That said, I unfortunately left before the after-Q&a craic, which I expect would have been lively there!)
Am hoping the audio from box markets helps to fill in some of the gaps in the Q&a that I didn't quite hear before I had to leave.

In general, a convincing narrative on the company's current position; funding through the next milestones in place until May next year. Honest appraisal of the HRZ -not the result everyone wanted, but not at all dead, just needs deeper pockets to exploit, and further technical evaluation which will help sure up the data room for the unconventional farm-out. Continued encouraging signs on the conventional side. Continued confidence on conventional far out - an 88e might not be able to dictate fully the pace at which majors will move, but nothing in the chat yesterday suggested that we are scrabbling to cut a quick deal to just secure funding..... There's recognition that it's about bringing in the right calibre of tier 1 player to bring the science, not just $'s (or yuan).

I do get the antipathy towards the incentive scheme's timing, but fair play it's good general practice /reasonable governance in terms of linkage to direct operational performance milestones and incentivising SP growth year on year.
We can't expect to dish out hair-suit treatment for the board for executing a high risk untested play and not ace-ing it on the first goes.
Those of us that are marginally or majorly underwater at the moment would not be complaining to pay out incentives to those that have gotten SP back to 3p plus in a year, and repeat similar percentage multiples in yr 2 /3.
Has always been a high risk high reward share, and remains so, but expecting next 6months to determine the scale of the opportunity as deals are done and the conventional drill begins.
Best all.

The 27th February brings with it the opening day of the Zimbabwe Mining Indaba in sunny Harare. With the President of Zimbabwe (well known to Zimbabwean Groves) lined up to headline the event, it will be a welcome signal of the country being open for business, and underlines the government's (and Ministy of Mining's) commitment to get the economy going, ahead of elections further down the line in the second half of 2018. With a government eager to see mining production to boost the economy, alongside inward investment, it is a fascinating time. And, note, who is sponsoring the event....? Liberation Mining. And who are they? The subsidiary which is 75% owned by us, Sable Mining (CGH), and which holds our Lubimbi mine. And who is speaking at the event as a result? Liberation's CEO, Victor Tskhovrebov, appointed to the post last summer with a background of Russian, Indonesian and Canadian mining companies... As well as Contango's Roy Pitchford. Hmmm, not looking to raise false hopes, and I sense the Indaba will be a relatively modest event, but to me it is a significant indication of moves being afoot - Groves and Edmonds have not been sitting still, and this is NOT a dormant company guys despite the enforced move off the stock market. Updates from the company will, in my opinion, to say the least, be interesting to see.

Hi Mornington, Yup - I wasn't interpreting Tozerk's question to be about the immediate price for relisting, more about where the market cap could go within reasonable bounds if all goes in our favour. As I said, speculation.

Calling all Geology fans, Zimbabwe fans, Sblm fans (and sceptics), and (one day, maybe...) making-a-Buck-back fans... Some weekend reading from the history books of the British Geological Survey, way back in 1989, which covered much of Zimbabwe's undeveloped coal basin potential... http://www.bgs.ac.uk/research/international/dfid-kar/WC89021_col.pdf [Why posting? It's an oldie but still a goodie. CGH's interests sit within the geography shown in this paper, at Lubu (which Sable put at 786 million tonnes of in-sutu coal) and Lubimbi (537 million tonnes of coal with only 10% of the licensed area tested at that point). The initial interest in Lubu was picked up by Sblm in 2010 for circa $3m, plus the same amount again in shares, at a time when coal was trading at circa 100USD per tonne... Whilst coal as a commodity has fluctuated since then, it's back up at a healthy 103 US dollars now. And as context, Sblm's market share price woes and associated negative press with poor governance steps brought us down to the market cap of just over �2m (0.2 of a penny per share folks) when the board decided enough was enough and delisted as the Liberia allegations and market undervaluation was biting.... So the underlying value of the Sblm assets? Anyone think just �2m? Really? Patience and cool nerves called for, on this and all such inherently risky stocks. ] And these days, elsewhere in the region westwards in Zimbabwe, the Hwange Colliery is aiming for its turnaround mode as a producer, retooling, working back form debt position, and aiming to boost coal and coke production from lows of 30,000 tonnes per month, to 400,000 tonnes per month... Little wonder that the changing political and investment climate brings so much hope for the country, and that the likes of Contango and CGH's board see opportunity in the reverse-takeover to get a foothold. Happy weekend all, Toffee.