The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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I held Highland Natural Resources. Was behind by quite a bit for a number of years on the promise they had technology that could keep depleted wells producing. They then moved into cannabis, and became Zoetic International. I left this at break even, 13p, because I did not believe their claims that hydrogen, which they allegedly had cheap access to, promoted plant growth. Even if it did, mixtures of hydrogen and oxygen are highly explosive and I doubted this could be safely employed in greenhouses. Photosynthesis produces oxygen
I am well behind with AST. Was out for a long time but came back in October. Moral of the story, for me, is just because you don't believe the official information, or worse still the information boards such as this, it does not mean you cannot make money out of it. Ironically, if I had of stayed with Zoetic International I would have recouped my AST losses. I am only still in because I cannot bear the thought that I sell and it comes good. However, that is hope , hopefully not furlong, rather than expectation.
Paul 0410,
Hopefully I've demonstrated my passion for getting my investment back! LOL. Many genuine people have lost money in this scheme despite following a sound strategy.
I would advise following the comments of Tango on this forum - he/she speaks a lot of sense. However, like a lot of companies on AIM they produce nothing yet certain people benefit.
I know the rule regarding other shares - have a glance at Zoetic International & see how their business model differs here (Inc management) & see how they have turned a dead business around.
Good luck!
Ping
Ping - thank you for acknowledging my question and for the time you've taken to reply. I guess I'm at the stage now where I assume you were at 5 years ago in terms of me being a bit of a novice investor. I'll admit my attraction was the possibility (dare I say likelihood) of a positive legal settlement. Your point about the reliance on winning a legal battle rather than selling gas (the raison d'etre) was something that wasn't lost on me at the time of my investment. My hope is a decent settlement figure and effective use of the proceeds either in Slovenia or elsewhere. The Cuba venture, as you point out, does make you wonder where the true expertise lies but fingers crossed on that too. Although how international politics will factor into that one is something that I've not really fathomed.
Paul0410 that is a perfectly reasonable question which I'm happy to answer.
I have to admit in hindsight I was a bit naive in investing in an oil & has explorer. I did my research probably 5 years ago but my lack of investing experience at the time failed to recognise the unhealthy relationship between Clive Carver & Henderson's. Furthermore, I was not impressed with Colin Hutchinson, but recognised his limitations as he was simply an Accountant & not a CEO. A further alarm bells was the reluctance of the BOD to personally but shares. Colin continually wheeled out interviews that progress was imminent & the co didn't need to raise funds. (I corresponded with him at the time advising him to approach the Slovenian media & raise the issues AST were having gaining permits -He replied personally thanking me & confirmed he was already doing so). Then 2 days after giving a further interview, where he stated there was no requirement for a fund raise, they in factct did an out of hours placing at around 1.67p. I then sat through a conference call where the Management failed to answer the questions I had put forward. By this time, the share price was falling & it was a matter of either holding or cutting one's losses.
The Management left but I tracked down Colin to his LinkedIn account. I gave him a few home truths about misleading investors some of whom had this scenario linked to their pensions. He read all of my posts but only enquired as to who I was.
Fast forward to now, where the share price has showed a slight recovery after being diluted to hell! I'm hopeful that I can recoup my investment & nothing more after averaging down. The background of the current BOD, particularly James Parsons speaks volumes for short term gain. ( just look at the track records, particularly Sound Energy!). Some investors who have recently invested & seen gains will obviously put a positive spin on this. AST are supposed to be an oil & gas business...however, they are now dabbling in special metals & projects in Cuba! The balance sheet relies on winning a legal battle not selling gas!!
Meanwhile Clive Carver continues to work in a similar fashion at a business called Caspian where again, little has been achieved. Hutchinson, like Buggenhagen has disappeared & deleted his LinkedIn account but I understand now raises funds for a company called Red Box ( or similar). The industry seems to attract Financial types with no actual experience other than fundraising!
All I will say is it has been a lesson learned & I hope it will have a positive outcome!
Ping
Ping - what attracted you to AST at the time of your investment? I guess many recent investors are anticipating the settlement from Slovenia - which will provide something tangible? If indeed it is settled in the short-term.
Doesn't seem to be reflected in the share price activity over the last few weeks! As a LTH I've heard all of this speculation before. I suppose we'll just have to wait and see. IT WOULD BE NICE IF AST ACTUALLY PRODUCED SOMETHING TANGIBLE ON WHICH THEIR SHARE PRICE COULD BE BASED FOR A CHANGE!
i believe they are in regular comms with Dennan, so they will be hinted on whats to come if not mistaken.
plus many of dennan friends are in AST too.
Not sure how much influence (if any) Align would be able to have on any settlement figure. This is being negotiated between AST Management & Slovenia or their legal representatives.
https://twitter.com/AlignResearch/status/1363842502005043201
Ref Ascent Res #AST Clearest signal yet of "imminent" settlement in Slovenia. As largest shldr we would not support a settlement south of €25m. Full blog to come.