Member Info for wakeyinvestor

I have watched the Proactive Investors interview and really it seemed an interview in 2 parts. The 1st part was Lorna explaining the US diversification opportunity and why the cash box placing was necessary in the circumstances, albeit there being a modest dilution. She then perked up when talking about the EWT RNS.

In the interview she referred to 2 successful mines (Tanzania and US). Now maybe I’m reading too much into this, but why use the word successful when you can use less committed words such as promising or encouraging etc. Perhaps it was a slip of the tongue, but then again…..

Everything about the 2 RNSs today was very good, that is, apart from the placement price. If the discount had been minimal I’m sure we’d all be wanting Lorna to marry us all over again

That depends on whether or not the EWT is successful.

I doubt anyone has fully exited from this share, but more likely they’ve all taken some profit on a minority proportion of their holding but still leaving the majority on the table in the run up to the news. Nothing has changed in the last 3 days or so on the investment proposition, but quite sensibly, risk management is in play given the EWT outcome is not a certainty. It seems worse than it is because most seem to have offloaded in the last half hour of trading which makes the SP drop look more dramatic than it actually is. The early signs are that the EWT may well be transformational and the 5 weeks mentioned in the 29 July RNS is on 2 September, so perhaps the buy frenzy this week was a little premature

RNS director purchase. Big statement from Dennis Edmond’s - this is really happening and now we can truly begin to believe.

Davey50, they raised in May 2024 and are still waiting for part of the subscription monies from that placing never mind thinking about doing another one. Current cash needs are being met from the credit facility until the property sale goes through and then we should be OK. Usual caveats

The payment in full of the subscription monies is a legal requirement. Good that they’ve drawdown an additional amount on the credit facility to assist cash flow and current cash spend is under tight control. This should recover IMO and is not going into administration

LOTM - brave of you to add even at this low price, the question is how much lower will it go before we get any good news. If you’ve timed the bottom right you could be very well rewarded, not least there are many placee shares (1.25p) that haven’t been shifted. I’m waiting in the wings to time my entry too but appreciate I may miss out. In the past (prior to April / May 2023 Microsoft news) this had been as low as 0.2p. Good luck LOTM

Kagefc, if you believe the company is going into administration but you still hold, why do you still hold? Either you don’t really believe that, or if you do, you would have already cut your losses. Please don’t be disingenuous

The problem is the SPis likely to drop as they’ve told us about the cash runway. The placing will therefore be based as a starting point at a lower price than 9p. The current MCap is around £1.6m so not sure they’ll be able to raise much under a placing without substantially diluting shareholders. A short term loan to cover the gap until new contract revenue received might be a better solution if there is someone out there prepared to lend. I do wonder why this company continues to be listed on AIM and a potential delisting might be the only realistic outcome. Not one for the faint hearted

If last year timing is anything to go by, the interim results for the 6 months to 30 June 2024 should be out this week. If they are poor (as I expect them to be based on last trading update) and not accompanied by any positive news then we can expect an SP drop IMO. The lack of visibility of revenues really concerns me as it makes it hard to decide if and when to take a punt. That said, the SP has plummeted by more than 50% since the May 2024 placing (only 3 months ago) and I wonder how low this can go. I also wonder if any of those placing shares are still uncleared and were not forward sold. Lots to ponder.

Looks like 2 large buys at £17k and £18k earlier today, can’t see these being sales looking at the transaction price of 0.4p. Maybe news due shortly (we can hope)!!!

The proceeds from the sale of their wells in South and West Texas (expected this year) will be used to pay down the debt as well as increased revenues from opening more wells at Pine Mills - it’s not rocket science. This is a recovery story which IMO will be successful

Steven49 is an eyeore, this should now take off at long last. Product already being produced and stockpiled so already preparing. Just need to get past the final inspection later this month, hopefully that is nothing more than a formality now the permit has been received. Well done Dennis Edmonds and the board

If I understand correctly these should be on the market from tomorrow as all resolutions passed at the GM today. Hopefully the company now has the cash needed as sufficient working capital to move forward for at least the next 18 months and shareholder value should quickly accrue now that the company is in much better financial health

Agreed, but everything seems to hinge on KZG obtaining that NNR permit. Oak Bloke’s summary is excellent but is based upon the permit being given. If you’re prepared to take a punt IMO there is a lot of upside from here of several 100% versus a downside of a single 100%. I’m too heavily invested and underwater (average 1.05p) to add, but no way am I selling.

Is the true MCap really £10m which is what the current SP suggests? I had thought that when we got GOI approval that was it in terms of approvals needed, hence Roland stating in the interview with Zak that we are now derisked. As such the SP should have gone up, or held (if the news was already priced in) but down? Come on, what the bleep is going on?

I take it you’re either (1) not invested in Evraz, in which case what are you doing here? Or (2) you are invested, in which case donate your Evraz shares to an Ukraine cause rather than hold on to them. Don’t be two faced

Must be very confident of securing the permit as money being paid to Tectonic in advance (13 Aug) hopefully it won’t turn out as cart before horse. Big uplift in SP (me thinks) when the permit is granted.

Nothing to stop you buying too