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What has happened to arbitration? It was around 500 million .
In my humble opinion I have come to the conclusion that investors are simply being misled by the Management and we are not being provided with a true reflection of what is actually going on. Virtually every business that James Parsons is associated with, the picture is the same.
AST have a top heavy Board of Directors and supposedly there is activity taking place on a variety of fronts. The consistent factor across the whole of the business though is that no tangible results are being achieved...anywhere. The strategy appears to be to just keep the business running to justify everyone drawing a salary. The so called leaders are not actively driving the business in any direction - that is why the share price remains where it is.
As an investor for more than 5 years, all I have ever been fed is of a compelling investment and jam tomorrow! If the business was doing so well then the Directors could not justify working on a part time roll.
They're all conveniently associated with each other in several other businesses producing the same results. Their only meaningful contribution is to drain the company.
I'll say it again...Parsons and Dennan please move on!! I'm sure there are more than a few willing candidates with a simple Accountancy background who could do a much better job on a 1/3 of the salary. If I'm wrong then produce one tangible result that your input has generated!
It is embarrassing but more a reflection of AIM as to how this pattern continues!!
I've had these shares in the bottom drawer for some time now and haven't really looked at AST sp in some time as I presumed it was dead. Just thought I'd check it out and I am amazed to see it still here. Does anyone think there is a chance of SP revival here?
The thing that gets me is that they are still drawing excessive part time salaries even though they have done nothing in 3 years.. Now what real business would or could do this. Everything that's wrong with the AIM is all over this company..IMHO
Like a lot of AIM companies, the Management operate in a way that you would be in a hurry to scrape off your shoe!
One day the FCA will grow some & do their job!!
Management should update the shareholders from time to time.
Looking at the cut of the cloth in a profile picture suggests there is gold in them there hills.
Parsons couldn’t run a bath let alone a number of companies . His performance over the years in many guises all result in the same thing. Large salaries , wishy washy strategies and total failure in share price values. This leads me to one conclusion…. And yes it’s an obvious one .. IMHO
In my humble opinion this whole situation remains a farce!!! The BOD won't respond as they're busy elsewhere with their part time roles....
Everything remains ' imminent' while they continue to draw their salary!!
James Parsons remains the consistent factor in all of this failure - hence the share price performance under his watch!!
Https://twitter.com/Ole_S_Hansen/status/1695003832177066201?s=20
DYOR
This lot are a shambles!
I have only 1 query... "Can the Directors make shareholders aware of any progress anywhere??"
I'm surprised these guys don't need body guard protection!
I repeat will Parsons & Dennan please leave...that would give the share price a boost immediately!!!
They don’t even have an office!! They borrow space for meetings so it will be interesting to see what they are spending on lease / rent and office equipment!
They are still including “Hispanic” in the company description but have dissolved the name they registered with Companies house back in April!!
“ Ascent Resources 05239285 - Incorporated on 23 September 2004
TAYLOR WESSING, 5 New Street Square, London, EC4A 3TW
ASCENT HISPANIC RESOURCES UK LIMITED
11436071 - Dissolved on 18 April 2023
5 New Street Square, London, United Kingdom, EC4A 3TW”
Anyone thinking of putting there hard earned in here need to be diligent when researching this pile!
For anybody who has the time or inclination. Just look round the Echo Energy/Corcel Energy/Coro Energy chatboards.... (Sound Energy at al!)
James Parsons....why would any business associate with him or his pals?? A trail of destruction wherever he goes while profiting handsomely along the way!
LSE & others continue to look away!!!!
Parson and Dennan use the AST current account as if it's a broken cashpoint machine and keep returning monthly hoping that it hasn't been fixed> the whole operation has become a sham........100-1 then 65% fall in the new share price...... would you employ these guy's in your business..of course not ...no real business would>>>IMHO
Just been having another look around the haunts of Mr Parsons & his other dodgy appointments...
Echo Energy remain suspended until at least end of August as they cannot produce accounts!! Unbelievable when one considers that virtually the whole BOD are Accountants!
AST'S previous friends Align Research (who also appear to be living in cloud cuckoo land!) had stopped promoting Corcel Energy until the previous Management were replaced due to lack of progress and salaries. They appear to be supporting Corcel now but don't appear to have been associated with AST for some months.
While AST's over inflated Board have been sitting back in their part time roles is there any chance the long suffering investors could have an update on:
Ongoing disputes with partners.
Update from January RNS where it was claimed repairs to wells were being carried out including removal of the historical stuck tool to increase flow rates.
Update on the 2 year old prominent strategic entry into Metals that to this day has produced nothing.
A percentage return comparison on the company's income against expenditure
Really Mr Parsons & Mr Dennan we'd even be interest in finding out where you have booked your holidays and what you actually do during your working week!!
Shares consolidated by 100:1 and still the majority of investors are at least 80% down.
I wonder when LSE w8ll next host a staged managed interview with these guys for an update - will take all of 30 seconds!
The dismay I have for this market sector grows stronger every day. How the Authorities continue to turn a self interested blind eye to it all is beyond me!!!
I am sure sentiment would return overnight if Parsons & Dennan would please move on!
AIMHO
Amur perhaps have other things to pursue, and don't want to sell out to the worst company to ever pollute aim.
For all the bullxxxt of James Parsons being a skilled financier....let's see what he gets out of this situation for 'genuine LTH's!!!'. I doubt anything. The sooner this individual ( & M Mr Dennan) are out of the way the better!!! They have done absolutely nothing for the company since they came on board! And Echo Energy/ Sound Energy/ Corcel Energy...
AIM seems to encourage leadership with no credibility whatsoever. The only drain on the finances are the Accountants in charge running things to suit themselves!
I also question LSE as an organisation as they seem to turn a blind eye also. I hope nobody else makes the mistake of trusting anything that comes out of their mouths!
One day this sham will be investigated!
Expecting and getting are worlds apart…AST is a dud!!. Expect more fundraising as the salaries paid eat up any cash runway left!
Amur’s due diligence probably shocked their board into withdrawing their interest.
Although having had a look at Amur’s history I think they would make great bedfellows!
The balance of probability here is that investors will lose despite the hype from Parsons et al!!
Thats funny gazzleberry. They're a £5M co' that's suing Slovenia for over €600M for their stolen assets and you're asking what have they done with the money. lol.
Either that or they're looking after their own interests not their holders.
Anyway whether or not they get to stand in the way of their shareholders best interests things are hotting up for AST.
Another 3,5M euros could well be on the way.
"Given that Ascent is expecting imminently the result of its €3.5M+ arbitration claim against its JV partner in Slovenia, Ascent still believes that a combination of the two companies would be in the interest of both shareholder groups. Accordingly, Ascent is exploring the possibility to put forward a binding offer to the shareholders for the the issued and to be issued share capital of Amur."
Yep the directors here are like a demolition ball wrecking everything in their paths.. Other than their ability to draw excessive salaries i don't see anything they have key skills or are any good at. They are also like limpet mines and hold on it the company implodes or is defused..Put it another way it never ends well for shareholders .......IMHO
Yep! Absolutely an opportunity for the long term holders to wait another 12 months while the jokers at the top milk their salaries for another 12 months!!
Forgive me if I'm wrong but I thought AST 's primary focus was now on their laughable Metals strategy in South America?? 2 years in & still nothing tangible to report!
Btw I'm still keeping my eye on Person's progress at Echo, Corcel etc - everywhere the man goes he draws a handsome salary while leaving an absolute trail of destruction behind!!
Looks like someone loaded up today.
I also took a small position last Friday.
It's a punt but I'm happy to sit on it for 12 monthts to see how it pans out.
Think the fear is overdone. The whole market knows these have been stuffed by the slovenians but with 165,751,348 Ordinary Shares in issue these could easily give a one pound per share special dividend to holders and still be up to their necks in cash should they win their case. In fact they could give 2 pounds and still be swimming in euro's.