Member Info for Twohits

D'oh - link sorry!

https://youtu.be/95PyT1BLHIg

9 minutes in, they basically say SOLG in all but name...

Bulk sample fair enough, otherwise stick to being a surveyor you chimp.

Again, that isn’t true. They aren’t really behind on anything. Actually they delivered the updated jorc bang on when they said they would and where it was suggested it might be...

I say again to you, you are either misinformed, lazy (poorly researched), or are working something for an agenda. Given your CS background i guess it’s just option 1 or 2.

The only thing that is of concern here for me is the funding for the mine build. That worry is largely mitigated by having Wooldridge on the board, given his contacts and skin in the game. All the other doubts are noise to me. The chess so far has been very much how like it.

5 year vesting period btw...

Ok cool.

If you look at the conditions attached to the award of each tranche i posted below, they are based on certain milestones. Tranche 2 award of mining licence, tranche 3 on mine going into production. So the sooner he achieves those milestones the sooner he gets the right to exercise those warrants. Currently his options are worth b*gger all. So he wants to move this along.

On a technical level, if the share price is above the share price he will exercise the warrant by paying the amount equivalent to the strike price multiplied by the share amount and benefit by the share price less the strike price.

It appears you don’t really get how this works...

He doesn’t need to ‘buy’ more stock in the open market, he already has the right to buy 180m if he gets the mine to production at various strike prices. If the share price is below the strike price then of course he won’t exercise the warrants. If the mine is at production, the share price will be multiples of those strike prices - that’s why it’s called an ‘incentivisation’. If he does what he is there to do (get mine to production quickly) he benefits.

If you still can’t understand that i can’t help you.

0.14/0.25/0.38 are the strike prices each tranche has an equal amount of the total amout for each strike. 13.3/13.3/13.3.......16.7/16.7/16.7 and 30/30/30. So currently, the ones that are available are 0.05 in the money on 13m, which is £667 in the money. So not exactly anythting to write home about. He wants 2 things the share price up and more importantly the mine to get to production soon. His salary is a side show for him.

They are warrants he has to pay for them.

Is as follows...

3 tranches that all have different amounts alloted at 3 strike prices of 0.14, 0.28 and 0.34p

1st tranche 40m
2nd tranche 50m
3rd tranche 90m

Tranche 1 vests and becomes exercisable from the date the services are provided on a full time basis (within three months from end sep 2018), Tranche 2 from the date on which a mining licence for the project is awarded to the Company and Tranche 3 from the date on which commercial production commences at Bougouni.

And you suggest they aren’t incentivised to get this moving as quick as possible?

Jog on.

No they’re not, BA is on about £35k a year cash, £85k fees to a company he owns and £130k in share based payments. Woolridge got £40k. Luke bryan got about total cash of £30k. These are not large numbers. Most of their pay comes in stock; they benefit much more if the stock price goes up. You’re either misinformed, lazy or want to potray them in a bad light to promote an agenda. Read some financial reports before you start hypothesising and spouting. They want to be on much more than they currently earn in cash asap. That only happens if the sp goes up - which will inly go up the nearer to production they get. This isn’t lenigas and george roach we’re dealing with.

Seriously - where is he?

Are you not aware that trades can be settled longer than T+1 ? The trades are already done, they just haven't settled.

Fair enough shaddam.

Hornedrum - 450mm shares traded yesterday, you don't think the vast majority of shares have hit the market already?! I would say there about about 10% of the placing shares left on the book of whichever broker took them down...

Yep, would be a minority sale of my holding. Meaningless.

Yep the overhang will be hoovered up quick smart and we'll move north.

*body language :-)

In terms of the placing, there will be very little overhang left, 450m shares traded yesterday. Looking at the trade shapes, would imagine 50-100m left to go. So very little to hold it back after yesterdays fireworks.

What we clearly need here is funding to take this to production. That can’t happen through placings. Take a look at ggp today. I sold out of those a while ago when newcrest ‘walked away’. Newcrest have just committed to a $65m farm in. Ggp were convinced that they would go ahead with their drilling program and nobody knew how they’d fund it. Sometimes there’s stuff going on in the background that we don’t know about. You just have to look at the bidy language. BA seems confident. That interview with SZ looked measured and confident.

You are honestly multiplying indicated figure and the current resource to work out the mine life?