No we should wait until we have a clear line of funding if that is possible as otherwise the same shorters that have hammered this stock for months prior to the suspension will come back to haunt us once more. The Core deal was based on a very different set of criteria than we have now which is why I suspect it fell through. Like I said, we no longer need that level of investment nor that level of dilution.
Never run a bookies..Why should I bet you £100, when I can either hold and not loose a penny or buy on resumption and make a profit ?
Lets go through this point by point so you can understand how I get to 1.5p. First some business basics.
Sinosure, provide insurance to facilitate Chinese companies providing business services overseas.
Do you agree that if RRDS was still owned by RRL, LO would not be able to provide a drilling service that qualified for Sinosure credit insurance. RRL would have to take a loan or a placement such as CORE to raise funds to do this.
.........and I still might win a tenner but I will buy you a Pint with it in good faith If, and only IF they don't come back on the AIM. Fat Lady hasn't sung yet though. Whilst I have said for about a year this will eventually delist due to unsustainability in it's present from, and in many previous forms over the last year or so, it's still not a dead cert but looking more likely. Maybe the talked about 'preventative' measures may stop it?
You haven't digested my post properly have you? I didn't say this will fail. I infact think Malcy's view is probable and that LO will step up to the plate because they have spent a lot of money in TT (ABR) and continue to do so.....(they now have a bunch of rigs in TT!)
I merely highlighted that the deal PIs will get in that scenario will be no better than Core's. I am afraid it is fait accompli for PIs as if even this relists, the SP will be a fraction of 0.8p.
After some consideration, the most likely scenario is that this will delist in AIM, it will come of suspension in Oz, company will cease to trade in UK (justified by cost cut). SP will trade at fraction in Oz, LO directly or through another Chinese company will inject the equity needed to take it to wherever they want to go and they will end up with majority stake for fraction of 0.8p.
The reason is, I cannot see an unrelated investor that will invest in this with LO and ABR's grubby paws all over it. The 0.8p deal was done when oil price was $100. I cannot see LO being generous to British shareholders to carry them on a deal that was done when oil price was $100. LO will simply not be able to get the motion through their own BOD that is not generous to themselves. At the end of the day, it is about the economics, stupid.
If you still think after the above analysis you will get 1.5p soon after relisting, how about putting £100 on it? Bet with me.
Youngbuck already owes me £100 and now is nowhere to be seen. Dan the DBW owes me £20 and is nowhere to be seen Playtime owes me £20 and is nowhere to be seen...
Yooohooooo, where are you guys? Where is my moneeeeeeeee?
I agree, never take a post on a BB as a cheap way of circumventing good research. You have clearly researched how the company will collapse and how it means we will all loose our investment. Further you are so convinced that, that you still need to come on here to tell most posters that you've just caught up with their thinking and can offer a 100% guarantee.
You articulate why you think this is a 100% case and then I'll explain why it isn't. I love a challenge.
Your must be something of a wimp. get off you backside and organise a collective response to the company, send them e-mail, with copies on the BB's. Waiting for someone else to do it and complaining when it is to late is not the way to get a result...show us all the business acumen you spout about to demonstrate why this will fail.
Make sure you ask why they didn't leave Lind conversion to trash the share price and save us all this drawn out suffering.
Come on your chance to show some leadership...we are all waiting.
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