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IMHO we will be around the 50p mark come the 2A anouncement. The announcement could come anytime between now and the Xmas break, in line with plan shared during the presentation. So up to 6wks to wait (max)

With almost 10% of the shares changing hands today, we certaily have focus. Maybe we get a pocket of consolidation, but few will want to be caught short and we still have a way to go to reach anything like fair value.

Anyway, this is all short term thinking. Personally I'm sat waiting for the 2025 spud and hopefully a £15+ SP

C should have been c$(circa)

Deeko, you may be right. I was being conservative :-)

Call it a hunch or the worst kept secret. This what we can expect from 2A farm out

Seascape should receive an estimated C$7–10 million in cash payments from TotalEnergies to support exploration activities + retain the c15% carry. The funding element would align well with the recent trends of TotalEnergies and Eco Atlantic’s partnerships, where strategic cash injections and coverage of exploration costs have enabled progress without diluting shareholder value through additional capital raises

Lets see if Im right...:-)

Looks like FOMO is kicking in, and fast. Plenty of people sold, expecting a bigger dip, but the reality is we already saw an attempted dip this morning. On valuation grounds, there is way more work to do. I fully expect a move above 50p+ as anticipation builds for the farm-out, which could land in just 5-7 short weeks. The clock is ticking

Surely B&K African assets are worth more than the current mcap considering the price of gold. Any thoughts?

Feels like we are undervalued even without the compo claim

Latius, that is an absolutely ridiculous statement to make. Try doing some research; the market cap should be multiples of where we are today. The share price appreciation is being driven by hard assets.

The first time around, it felt like simply consuming information. But on the second listen, you start to pick up on the details, and the enormity of it all—both for DEWA and 2A—really starts to sink in. One key takeaway is that the CPR for DEWA isn’t due until the end of H1. With funding in mind, you have to assume a cash component for 2A; otherwise, they would have mentioned it. When they spoke about financing, they specifically referenced the CPR, which I found particularly interesting and completely missed the first time around.

There are many nuances I picked up. I would highly recommend listening again. It's shifted my perspective from high interest to truly feeling the Board's excitement

It does make you wonder what the Board of Directors (BOD) is doing. Seascape would have been an excellent deal and potentially transformational. SEA could have a share price of £15 if 2A lands. SQZ might have had the majority slice of that if they had the foresight

In a nut shell, UK production is worth the square root of F....all

We all laaugh, but our track record says we must be looking at HBR cast offs.......Please no

Yep, held most of them for a while. I could see the potential in 2A alone. This is a Cove senario and if it plays out we will be well North of £10 on current data

39, as I have 1M :-)

Is underway with a lot further to run. Some sellers will be back buying and are looking for a sizable dip that may not come. This definately has a Cove feel about it with 2A

The beauty now is that we are underpined with 0.75 - £1 per share of assets

Has tightened considerably. I could buy 250,000 this AM, now NT to buy from my broker

If ths scenario plays out and with only 57m shares in circulation. The SP can move North rapidly. £10m mcap....come on

18p to £15.65 thats the gap to bridge on an unrisked basis.

On todays news we already have £0.75 - £1 unrisked, the rerate has a way to go yet just on todays news

BOD did a great job - clear update with clear vision & goals. Pierre was brilliant and really added some non technical colour to 2A. Good to understand the BHP back story.

They even answered my question on SP and how we bridge the gap

So £14.65 & £0.75 - 1.00 unrisked. Looks like the SP has a long long....... way to run

I did write to EQLS expressing my bitter disapointment. Long stor short - the length of time to conclude, the poor price offered based on where we are today, risk around IP etc.

EQLS response was nothing new as you would expect. Just an elaboration of the timeline needed for a consortium to all align

So the question remains ...how much longer, hopefully not long now

The seller has now been flushed. I have been able to buy in size for a few weeks now and todays lack of SP rise supports the thesis.

That aside, great news today and SEA BOD have delivered. My 950k will be staying firmly in the bottom draw. Look forward to trawling through todays posts later this evening

Litigation Overview:

The Bhukia gold project in Rajasthan, operated by Panthera Resources through its subsidiary Indo Gold (IGPL), is embroiled in a legal dispute with the Government of Rajasthan (GoR) and India. The litigation primarily revolves around the rejection of IGPL’s prospecting license application and the enactment of the Mines and Minerals Development and Regulation Act (MMDR) 2021, which annulled IGPL’s preferential rights to mining licenses.

IGPL claims its investments have been expropriated, alleging violations of a bilateral investment treaty between India and Australia (1999), specifically citing breaches in fair treatment and expropriation rules under the treaty​

Litigation Funding:

To support its legal battle, IGPL has secured $13.6 million in non-recourse litigation funding from Litigation Capital Management (LCM). This funding is critical for pursuing its claim for compensation or damages from India, which is seen as a key factor in IGPL’s ability to continue the dispute​

Chances of Litigation Success:

International arbitration processes, especially under bilateral investment treaties, are complex and drawn out. IGPL's legal case is supported by extensive drilling data and geological assessments, strengthening its position, but success is not guaranteed​

Gold Resource and Project Value:

The Geological Survey of India (GSI) estimates 7.15 million ounces of gold at Bhukia, which is valued at approximately $16.7 billion based on current gold prices​

. Some estimates suggest even higher resource potential based on additional exploratory work by IGPL.

Expected Cash Flow:

The Bhukia project has significant economic potential if mining operations commence. Early estimates suggest that the project could support a large, low-cost, open-pit mining operation with by-products like copper and cobalt. However, until the legal disputes are resolved, potential cash flow from mining operations remains speculative​

Other Litigation:

The MMDR 2021 Act has caused broader issues in India’s mining sector, with other miners facing similar challenges. However, specific details of other litigations linked to the Rajasthan authorities beyond the Bhukia case are limited at this time​

Conclusion,

The Bhukia gold mine holds immense value, but litigation hurdles, including the dispute with the Rajasthan government, pose significant uncertainties to realizing the project's potential. The case's complexity, combined with treaty claims and the potential scale of damages, means the legal outcome could have wide-reaching impa

Apols not had time to look in detail, but how is the statement below look positive. Looks to be in fav of GoI

"When the state govt did not allocate the project to the Australian metal mining company, it went to the high court in 2012. Last year, in 2023, the HC ruled in favour of the state govt," the official added.