Member Info for Updg02

Very disappointing to see this heading further south against was are potentially strong company fundamentals. There is some solace in that the majority of small energy/mining companies are heading a similar direction. It would be good to see the directors put heir hands in their pockets at current levels and provide the investment community with some confidence as I don't believe they have a lot of skin in the game. There is talk of smaller businesses struggling to raise capital at the moment and therefore, at the back of my mind is how they fund this rapid expansion given ''everyone is knocking at the door'' according to our CEO. I hope it's not another big raise at a heavy discount! One would hope there is a wealthy individual in that part of the world who has some small change to invest. Anyway, I still remain positive and will wait to see how things unfold, but it is tempting to top up further at these levels. Best of luck to all.

I just think we need to be patient and the reward will come. As a certain wise investor said , the stock market is a great mechanism for transferring wealth from the impatient to the patient. The waarant/selling will work its way through if the good news keeps coming and when it does come you will probably miss a serious leg up if sat on the sidelines. To me the rsik reward here is still very favourable.

Excellent drilling results today. looking forward to a nice spike at the open, but these guys appear to run a leaky ship given yesterdays sharp up tick in the SP. Someything to bare in mind in the future.

The usual shennigans going on here. A positive news update followed by a small spike in the SP then in come the sells, small and large that holds the stock back. Would buy more, but can't see the point until we get some form a breakout. Confident this will happen, but not sure when.

I have recently bought into the great story here, but have a question regarding the warrants. The compaqny received the proceeds from the warrants last week and trhe new sharews on going to be issued on Tuesday next week. There is nothing to stop the warrant holders from holding onto the shares or are we to assume as they have exercised their option the logical thing is to sell into the market next week and therefore, the stock may come under pressure. Is my assumption correct?

In light of the pick up in trades over the last hour, Just tried a few dummy trades and you can sell 100,000 shares for 1.37p and over a million for 1.3437p so it would appear MM's want your shares!

Not quite sure what's going on here!

I believe miningforgold summarised the potential risks that lie ahead over the coming months. We still need execute and get money in the bank before the sp takes off. I think we all agree the potential here is huge. The communication from the company is first rate so we should hear soon enough.

I for one am not surprised with the sudden influx of buys. We have a company with a market cap of just under £5m a relatively small amount debt. Granted, a number of share raises have increased the number in issue, but we are hopefully, war shocks aside, about to start delivering some of the £3.8M revenue from the UAE alone. This excludes UK revenue, bitcoin and the recently announced new ventures. Fully accept some key risks remain e.g. execution, current lack of cash, war, selling the remaining capacity in the UAE. If feels like the stock is way undervalued and people are now starting to realise the value on offer here. It's going to be an intersting few months ahead where hopefully, we will see a sharp re rating of the stock.

My understanding was that FW couldn't bid again until August unless there was an approach from a 3rd party. However, I did notice that someone on another board seemed sure that FW could bid within the 6 month period. Either way, the increase today is most welcome and at 10% is meaningful. The board appear coorect in rejecting FW's 400p offer unless something untoward raises itself next Monday.

I understand what you are saying Danger_Mouse, but the major catalyst required for the stock to get re rated is Segilola MLE report. Without this, and a forecast decline in revenue for 2026, this nwill continue to hover around this level (price of gold aside).

Cashflow is the only thing (war aside) that concerns me here given events in the middle east. We are being diluted at every opportunity to fund the growth opportunities. I believe the re rating will only occur once we start to generate free cash flow. Hopefully, this will be in H2. Just hope we enter a period of consolidation so all future acquisitions are via loans or free cash flow and not placings!

I was under the impression the company committed to a mine life extension report on Segilola by the end of Q1. That clealry didn't happen and couldn't see this referenced in todays report. Have I missed something?

The issue price is 0.07 not 0.035

Just noticed an after hours trade today that was executed yesterday for 60 million shares 0.058p. Wondere who was selling and buying?

Our market cap is down to £3m yet we are predicting around £3m in turnover for this year should everything run to plan rising to £6m the following year exceluding any bolt on acquisitions. I guess we just have to sit tight and let the current conflict play out.

But why so extreme today when the war has being going on for a month. If anything I thought the update would have helped.

Please can someone shed any light on why this has fallen so much today given what to me was a reassuring update? Still lots of opportunity and revenue to start in Q2. This should allow the funding of paralel opportunities and hopefully avois another cash call.

Not great. The sp will probably open around 10% lower.

Or could there pending a pending sale of the company on the horizon and Harvey is looking for his next role. There were 3 very large transactions for over 20% of the business earlier in the week and it will be interesting to see how that plays out. Fingers crossed