Cripes those of us that thought we were going to hold on until a certain target price had better forget the idea and sell out as soon as this gets any where near a penny by the sounds of things or else risk not being able to sell because of the stampede. "Please leave your profits on the table by the exit". I wonder if the MM really do have people writing things on blog boards to course incitement. And would people see through it. I hear they work in gangs ! GLA DYOR.
Just a time killer TB, we all know whats going on and are just waiting for that drill pad to be finished, the rig moved and the drilling to start in November...oh and for KN1 to move into full commercial production of course.
Yes, the thought had crossed my mind, but on the whole I think it’s no bad thing to fire a broadside at the directors. They will be aware of holders of 3%+ under disclosure rules, but with most private shares held in nominees, they can only take a guess at the holdings of the smaller investor. As this is effectively an investment company, they should be targeting the smaller investor who have longer term intentions and gaining their confidence. One of the reasons for me investing is that I wanted to be in the O&G sector at AIM level, but in the past have made huge gains and losses as I lack the detailed technical knowledge, so I am looking to the expertise of the directors who seem to be well qualified to spread the risk over a number of investments. This company will have less appeal to institutional investors as it adds another layer of management which they normally wish to keep in house and would probably buy into AMEX instead. I think this is why a lot of us were slightly miffed not to be included in the latest placing. It was an opportunity to pass shares into the hands of the smaller investor who as an investment company should be their target audience. Instead, 15% is now held by a company whose intentions are unknown. Perhaps, they are here for the long term, but if on the other hand, they are going to ‘flip’ them for short term gain, it will stunt the share price, extract value, add a level of uncertainty which will in turn undermine the confidence of the smaller shareholder. I’m not saying we would have taken up the full placing, some would ‘flip’ them, but others will be looking to hold for the long term. Perhaps, if they see these figures and are looking to build an investment company, they will include us in the next placing. No doubt there will be twists and turns along the way, but in my view they should be heading this direction otherwise things will continue as before. It would be good to hear other peoples views!
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