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The RNS is a good and credible start to what will be a longish road to full recovery. NEX's chief executive is Michael Spencer who started ICAP and is determined to make NEX a great success. The make up of the new Board will be crucial and I welcome Christian Taylor Wilkinson as a NED. He really knows his stuff about how this part of the market operates and has excellent contacts to help us establish a full and credible board of directors. We have been sunk in the past by bad dudes and chancers. This won't happen again.
I’m Happy with that ! :-))
Minimum.
Happy with that update, HOWEVER CAN I MAKE ONE POIJNT CLEAR. THE LAST TWO BOARDS TALKED A GOOD GAME FOR MOST OF THE TIME AND DELIVERED A BIG FAT ZERO OVER MANY YEARS SO DO NOT MAKE THIS SITUATION REPEAT ITSELF. THIS COMPANY NEEDS PROPER NEWS FLOW NOT BS AFTER BS!.
Great RNS, you got the 500k funding at 10p CLN. “Sino-Aus Energy Group Limited (“Sino-Aus”) has contracted to subscribe £500,000 for 500,000 7 per cent Convertible Unsecured Loan Notes 2020 of the Company. The subscription moneys are payable within 90 days. The Notes are convertible at any time prior to their final redemption date of 31 July 2020. The conversion price is to be the average middle market price at which the Company’s ordinary shares are traded during the twenty business days immediately preceding conversion, subject to a minimum conversion price of 10p (being the nominal value of the ordinary shares). The conversion right is not however, exercisable in circumstances in which the aggregate beneficial interests in the Company’s equity securities, of Sino-Aus and others treated under the Takeover Code as acting in concert with Sino-Aus, would exceed 29.9 per of the Company’s issued ordinary share capital, if conversion took place. The Loan Note Instrument constituting the Notes contains usual events of default provisions. The Notes will not be traded on any stock exchange. ”
I expect a rise before Friday.
The games have already been played by Lyth, Zorbas and Hogan and the chancers surrounding them. I imagine we will know by close of play today where we're going as tomorrow is Feb 1. A lot of work has been already been done to get us back on an even keel; but a tremendous amount of damage has been done to ANR's reputation and I have no idea whether the market/ NEX will accept ANR. Fingers crossed.
I know nex is no problem, I’ve had a few before, the transfer always goes easy and worse case you call a broker to trade your stock. If sites like LSE and II listed Nex stocks and a few more brokers traded it online it would transform the nex market with the increased volume traded. Im not ruling out a future asx listing been as the assets are there but I know asx rules are a bit more strict compared to aim so they would need to sort their plan out properly. Just waiting to see if any games are played.
I hold a few NEX shares no biggie, however I would expect the target is to regroup the business & strategy with a plan of coming back to aim once a solid foundation is built over the months ahead. I think the Leigh Creek situation is really big news.
What do you think will happen by end of play Friday?
I was holding a few quid back for if it dropped massively on Friday pre NEX but im starting to think it might have done that by now if it was going to.
Zhang and co still want to recover as much cash as possible for them but no one knows how yet, the millions of £ in investment between the top 3s shares are currently valued at only £100-150k .
Difficult one to call.
Long way to recovery, but with the Chinese guys in control it looks like a great buy for future rewards.
Thanks - Hmmm yes I’m an unfortunate URU holder too - wonder why he’s not sold out ?
Unfortunately Zorbas is a director of Eaton Equities and according to the rns on 28th Jan they still hold 215,000 or 13.79% so still involved although his rep Hales is gone so don't know if he can appoint another director if he still has
his shares.
He's also chairman of management resource solutions and they still haven't got a nomad signed ! So don"'t know what he's doing there but made a mess of URU who also had a 1 to 1000 consolidation for no good reason and their shareprice is heading the same way as Altona's.
I will never buy shares in any companies that he or the other cronies are involved in
, I have shares in Mrs but just waiting on my exit price if it ever comes .
Also Hogan is also involved in Mrs so god help them.
I doubt it EGTP. He bought a coach load at 50p ( pre SP consolidation 0.05p) ; it went to 740p ( 0.74) and today it's back to 14.5p. He's long gone with the the rest of the chancers under Lyth. Good riddance but an expensive one to long-term shareholders.
Do we know if we know if john zorbas (Uru) is still holding in full here ?
I'm keeping my shares you never know might end up back on aim at some point hargreves you can phone trade on nex
Interesting on Leigh Creek Energy. Not sure what their portfolio of assets contains but mkt cap $60m.
There are a number of basic business reasons to be confident the SP of this current 1/4 mil mkt co will be much higher in the near future - the Chinese and their desire for the cheap energy up to 7 bil tons of open cast coal retrievable will produce, plus the Australians need to create their own greedy wealth getting it out for them. The chances of this have now considerably increased with the 2 chinese back on board, which has to be their sole ambition. Only two question left is funding - is the 35 mil still available ? - who will be the UK director as he will be the route to listing back on AIM. So defo a long term hold with top slice a trade or too in the interim for me
Read this Now Leigh Creek Energy (LCK), a company which owns the neighbouring licence to our own Arkaringa site, has done UCG successfully and the production of the first syngas occurred on the 10th of October 2018. Leigh Creek's most important investors are from mainland China and Hong Kong, and its project has the support from the South Australia Government.
Leigh Creek Energy's most important investors are from China and Hong Kong, so Our Directors are also Chinese. You see the point.
Worth a repost from dyresearch, just before he bailed.
1. You do know that Altona doesn't have an exploration license to conduct UCG don't you? They tried to buy it from Tri Star but Tri Star flat refused
2. Zero chance of getting a Nomad so it will delist from AIM. They might move to NEX though as there is a fast track procedure for this
#knowthegame
Nick Lyth gave the heads up :-) :-)
Don't know why you're all surprised?
Nick Lyth gave the heads up on this just before selling his shares, under the moniker dyresearch.
Basically this is a coal exploration company, based in Australia, with a Chinese BOD, that can't secure relevant permits to explore, nor can they secure the services of a Nomad.
Trade it if you dare, but there isn't any argument for an investment case.
steady buying this morning
if you have some small change down the back of the sofa - this is a decent trading opportunity
yes delisting from AIM ..surely
You're right Babbler2, some mainstream dont like NEX because they don't earn the fees they churn from AIM.