The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
A good move, fresh start. Maybe an rns tomorrow after 8am on the structure that's been mooted. Gla Imo.
Good analogy.. Some gas coming still tragically coming from some posters!.. but as I said before,.let the RNSs do the talking.. If Eddie is to be our new CEO, I hear he's a reputation for cost cutting.. Sooner the better :-))
Drillingcrew - they can change the name all they want but as Magic points out it doesn't change the fundamentals and cash flow is still a massive concern here, which is why they keep doing placings and selling down assets just to fund working capital. They don't have enough money to fund the current operations, let alone any new ventures
DD77 - You seriously have not done your research ! Obviously in my humble opinion.......but sense the name change is just the start of a new beginning...............re-rate imminent. Gla
"Given some were given to him in-lieu of other payments I guess 0.028p is better than nothing." As Peckham correctly states, ANY trade by a director would have to be immediately notified. As I have pointed out numerous times, this selling has been going on since late June where they were happy to sell at 0.026p. Bear in mind that the SP has (afaik) never been at a level where you could buy under 0.026p, that means the seller is either so desperate to exit that he/she is taking a loss . . . or it indicates someone who got cheap shares who is busily flipping them. If there are other possibilities lets have 'em. Note that the March placing was at about a 33% discount to the prevailing SP. The SP here has been sat around 0.03p for some time. A 33% discount to this price would be a placing at roughly 0.02p. Anyone taking up such a placing offer would likely be very happy flipping at 0.026p-0.028p prices for an easy profit. We are speculating but I always look for the tell-tale signs of an imminent placing which imo include: Lots of large round sell trades A marked increase in board ramping A flurry of updates by the company Proactive Investor or equiv interviews and maybe the odd paid for Broker Report appearing Watch for the signs imo, don't get mugged. As RachelsDad states, if there is a placing coming I also think a share consolidation is a foregone conclusion as imo, serious investors/players don't bother with penny stocks let alone stocks at 3 x 100ths of a penny ! Changing the company name achieves little imo, it's juat a sticking plaster. The fundamentals still apply, revenue vs expenditures.
Shoats Creek will look after itself - very nicely actually by all accounts. Next unannounced workover results please, gas anyone, lol Today's name change spells a massive change; am looking forward to some very big news - this is not overnight stuff, it has been planned for many months. The April RNS was the biggest clue - how many times have I said that.....now who just have they been in discussions with (per RNS) these last few months apart from PEMEX? bring it on......the 100 piece jigsaw is nearly complete...we soon move onto the 1000 one..lol
You would think...
It's a good idea. The Northcote name has lost all credibility. There also a few names on the board that need changing !
That no money was spent on coming up with that name. Maya-hii Maya-hoo Maya-ha Maya-ha-ha Or whatever. And what I really want to know is where's Wally? I mean Randy! What is going on over there??
Mexico direction confirmed by name change so where does that leave shoats?
Me magic Thanks for reply and hindsight is a wonderful thing I stand by my previous posts and would add that I believe previous dilution both times was to increase waste water capacity at shoats creek and other dilution to finance further drill program at shoats creek and finishing of remediation plant both that I would like to think produce income down the line and increase asset base to financial spread sheet I am starting to agree there may be now a possible share capital placing with new company and where Mayan energy [ Northcote ]is now heading info but would also like to see a share consolidation of at least 20-1
Would seem a strange decision to change the name and then do a placing tarnishing the new name with a similar reputation to NCT. Was expecting a placing then the changes to come into affect, new company fresh start scenario. Maybe the new direction does not involve further dilution, feeling mildly optimistic need to lie down to recover.
To still on the bod, any director sells require instant notification... Here's to mayan, God bless all who make money on her. Imo.
Maybe it's Randy selling out some of his holdings? Given some were given to him in-lieu of other payments I guess 0.028p is better than nothing.
So you reckon Waste to Energy? That would good but it needs to be the right waste.
and it is an if ( because I do not know ) there is a placing coming then consolidation must surely be as well ??
Nice.. Just nice ;-)) More than just a start.. Mayan Energy rising from Northcote ashes.. Please ignore white noise folks.. We're on the move ;-))
MrMagic - "other views welcomed" What..???? are you on ????
And what MX asset do you reckon? Personally, I still like flared gas for GTE. Pemex have done one deal with us, they might do another!
Yep : )
So another 30m shares sold at 0.028p today. Really starts to look as if a placing is being worked imo but pure speculation on my part, other views welcomed.
Why "Energy" and not just "Mayan Group". Currently we have no MX energy assets - someone trying to tell us something?
Blingy - "If I'm naive in believing this may be the way forward let me know" I respect you Blingy given your large holding but if I am honest, the history speaks for itself. Wind back to 22nd Mar and review what you posted: 21st Mar - "Another 10% drop nearly for no reason at all Totally gutted . . . I stand firm but slightly wavering" 22nd Mar - "Just got off phone from randy and had a full hours chat . . but notifying broker of my 3% holding and to confirm that and im more than happy with my investment and happy to hold and even add whilst this low . . . I have also been concerned with sp and hope this will rise shortly" 23rd March, the company drops a 1.4 billion share placing at some 33% discount to prevailing SP thereby decimating your 3% holding. A month later the company did it all again, another 1.5 billion shares at 0.0315p. You were on the phone (!) to the CEO for a full hour the day before that happened still thinking all was a bed of roses. You tell me, do you think you were a little naive?
Well fancy that - Mayan Energy Limited : )
Northcote Energy Limited (‘Northcote’ or ‘the Company’) Change of Name to Mayan Energy Limited Northcote Energy Limited is pleased to announce that it has, with immediate effect, changed its name to Mayan Energy Limited to reflect the Company’s commitment to widening its exposure in Mexico. Trading in the Company’s shares under the new name will take effect from 08.00am BST tomorrow with the TIDM changing to MYN and the ISIN changing to VGG5S26K1079. The Company’s website address remains http://www.northcoteenergy.com/ and the Company will update shareholders when this has been changed to reflect the new name. **ENDS**