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Member Info for MrMagic


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Member Since: Mon, 13th Jun 2011

Number of Share Chat Posts (all time): 8,745
Number of Share Chat Posts (last 30 days): 114

Last Posted: Today 08:52


Post Distribution over the last 30 days




Today 08:52

cgm - "Rrr has increased by more than double from the lows..."

This statement is equivalent to Alan Sugar frittering away all his fortune and virtually going broke and then saying
"look ! I've managed to double my last £1 to £2 ! How good is that?!"

This SP has fallen over 99% since it was 3p some years ago. The continuing mega-dilution has killed it together with the BODs ability to spend available monies without returning shareholder value.
Thu 14:33

According to Duedil.com Westport Energy PLC has 3 Directors:

Mr Thomas J. Mazzarisi, Mr Stephen J Schoepfer, Mr Brian James Kinane

CompanyCheck.co.uk states this in regards to Brian James Kinane:

"Brian began their first appointment at the age of 40. Their longest current appointment spans 4 years, 4 months and 8 days at YORKVILLE ADVISORS UK LLP"

https://companycheck.co.uk/director/916710579/MR-BRIAN-KINANE/summary
Wed 19:50

"I anticipate he will continue to accumulate. If he can buy at sub 1p and on a two year view can see 8p/10p I can understand why."

This is typical AIM tomfoolery. Touting huge future SP targets for a company that has to do discounted placings to fund itself. On a two year view, the number of shares in issue here will likely have increased very dramatically in my view. That's what "death spiral financing" does, it requires you add ever more shares to keep funding the same amount. Paid broker reports make similar nonsense claims about future SP targets all the time. Those targets never ever appear because the broker report always fails to take into account the huge increase in shares AIM companies will suffer in their future projections.

It's like trying to promote what the price of a bottle of milk will be in 2 years time without taking into account any natural inflation.

The game has changed here. The last 2 placings change everything imo. They were imo a statement from the company that they are prepared to undercut existing holders by issuing cheap discounted shares to funders.
Wed 15:22

The sudden and concerted pump last Tuesday (17th) and the subsequent fall in SP is highly suspect imo. Note how the pump accounts have largely gone silent since. I personally speculate that bad news is coming but it is pure speculation nothing more.
Mon 15:55

Bait posting imo

On 28th April he said " i'll get my order filled. 3% would be a nice position"

lols. Haven't seen that 3% holding RNS yet. AB issued 100m odd shares at discount not long back, you'd think Mike would have mopped up easily to get to that 3% position. I guess his confidence isn't that high then!
20 May '16

"In my opinion if the dilutions stop the company can move forward."

That's pretty much the nub of the situation and I agree with you. However another dilution has just been done, at discount and with warrants, and the resolution at the AGM gave the BOD authority to issue a lot more shares this year so draw your own conclusions.
20 May '16

Dod666 - "Why price still falling?"

IMHO it's because some 3 BILLION shares have recently been added via the 2 discounted placings done at 0.0315p (23rd Mar & 20th Apr). That's a lot of shares to shift into the market and has increased the total share issue by some 43%. For me it has changed the investment case here because if the BOD are willing to sacrifice existing shareholders by doing discounted placings then I feel less inclined to leave money in this share for any significant length of time. Rightly or wrongly I deem it to be "death spiral financing" which just leaves companies needing to issue ever increasing numbers of shares to raise funds. In my opinion it kills sentiment, it kills volume and turns a share into a trading share rather than a long term investment share. I can't and won't advise you on your personal situation. You must do what feels right for you and DYOR.
20 May '16

Gunnerterry - "paid to keep this share price down"

Post reported but regardless that's probably the silliest statement of 2016 thus far. Why would anyone pay someone to try and depress an SP that has dropped quite naturally by itself for the past 3 years, imo, as a result of the constant increase in share issue and the lack of value delivered ? You haven't thought this through.
20 May '16

"Sour posters views don't help anyone "

I disagree. If it were not for disgruntled PIs keeping it real, I would have gone on believing the ramping BS here far longer than I did. Boards need a variety of all views so people can see all sides.

" Im sure its against the rules to offer 'advice'. Would you say its worth a punt here,"

Why are you asking for advice when you've just stated it's against the rules? That would appear to be deliberate baiting.
19 May '16

The statement regarding overheads is at 28mins 25 secs and AB is keen to emphasis that it's a "net basis" figure which includes rental income. As always the devil is in the detail and only the official end of year accounts will tell us what all the monthly costs are in an unambiguous manner.

£11,000 per month would equate to £132,000 per year. I'm finding it hard to believe that the entire company costs, including the salaries of AB and other directors and staff are covered by just £132,000 per year. Perhaps I'm just too cynical but a recap of director emoluments in recent years might provide some insight:

Total Emoluments (directors fees, consultancy fees, SIP, Pension contribs, social security costs etc)

For AB only
=========
2012 total emoluments - £221,729
2013 total emoluments - £154,746
2014 total emoluments - £139,008
2015 total emoluments - £91,495

For all directors
============

The total emoluments for ALL directors for year ending June 2015 was £181,169

So when the figures of £11k-£12k per month are bandied about I rather suspect that those refer to some specific portion of the whole and are not the entire picture, but I could be wrong. When AB uses the term "running costs" does that include salaries for example? Or does he just mean company admin costs? Only the audited financial report will provide the full picture imo.

For all the fluff and bluster the fact remains that AB has just performed yet another dilution, 100m odd shares placed at the discounted price of 0.42p and a warrant issued with each placing share to boot. The actions always speak louder than the words in my book.


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