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You can see what’s going to happen here... you only have to look at the directors other projects / companies they have been involved in ...none have gone anywhere so why/how can this one achieve any true value with all it problems?.....
Winnimadala - And what has been spent in the past 14 months on salaries, bonuses, consultants, rents and fees to the JV partner? Sure they laid off a couple of meagerly paid Slovenians just for show!
Winnimandala - Right you are. The new board has been in place for over a year now and what have they accomplished operationally?
New company same old problem... where’s it really going .. answer ..nowhere just like before .. just dilution , dilution, dilution
im sorry to hear that but complaing about directors that arnt there isnt going to get your money back....new guys in new direction and they have what looks like a plan and a new direction again im sorry for your loss ....i bought 4-5p and have mostly free-ride left or they have effectivly been paid for now thought i did top up at just over 5p....not been doing this long but what i did figure out fast that aim isnt a casino its a huge risk mangement exercise you have to manage your risk and buying 56k at peak is kinda risky.(infact extremtly with little return or upside compared with the possible loss) (and its 6p now!!!!) dyor.....and the 'new company' effectivly started feb last year....dyor...old directors not there was badly managed but gain there not there now....
Oldblue, I hope you are recently invested and can trade this share to reduce your potential loss. I invested £56k to buy 5 million shares some years ago. I was a real believer without carrying out due diligence by research, just pure optimism by reading company RNS's and having a gamblers instinct! (E.g. Idiot). Following the "slick" dilution and consolidation, my original holding ended up with 50k shares which I sold at 13p+ a little while ago, netting a £50k+ Loss. I stil have an interest, as I bought some in my wife's ISA, fortunately not so many but with a loss also.
I have invested the money I rescued from AST in big Pharma and small Biotech and have put some in financials, recovered some but at the moment still down. But not distraught as I have always been a gambler, able to take the loss but not happy with my decision process at the time of buying AST.
I won't re-hash my view of this share as I think readers here know but I would urge any potential investor here to carry out their research on facts and fundamentals not greed and emotion!.. if they do they will realise this is an outside bet without much going for it!.
Cuba and Ascent are very similar. Personnel may change but ambition, albeit unrealistic, remain the same. The new Cuban leader is a communist and will sell unacheivable dreams to his country.. Biden has held back on lifting current embargoes because of this!
If you really think that Ascent can deliver a current desktop exercise into production in Cuba then look at how they managed. "Production" in Slovenia and if you think it's a goer, pinch yourself and wake up!!
and heres the RNS by the look off it old board out new board in thats 14th feb last year......and i think they have done quie a bit since then and hopefully they will do more.....GLA imho etc etc and DYOR
never understood these folk who say they dont like the directors....(didnt you check them out???) they have there noses in the trought....(didnt you check to see how much they where paid???) i mean if its not working ....move somewhere else....if you dont like the company or where its going .....buy something that you do....i mean its a message board all opionions are welcome.....but if i didnt think it would come good i would off sold out and i wouldnt be here....
and as with the directors they all look to me like they all started 2020???? so why are you complaining about directors that arnt even there....do you like reminising about bad times???
I seriously think us Pi's should be allowed to sue these directors, present and past. At least to get 50% of our original equity back. The whole of AIM needs a shake up as it's fast becoming tarnished.
I'm not bitter, it's just a fact that these guys have not delivered anything for over 5 years now. And as for ignoring postal ballot votes in favour of those attending an AGM is just totally unforgivable. I have a long memory!
What happened to the shallow sands revenue? Supplying Slovenian gas to Croatia was CH/CC and Asts downfall. Slovenia has had the last laugh though.
The only thing JP will harvest from Cuba is a fat cuban cigar which he'll smoke at the next AGM and will remind us of just how lucky we really are to have him.
Long live AST, Here's hoping to an SP of £1 in 2022, I'm praying for a miracle!
well they have stated there looking for tailings in cuba have mentioned nickel....etc....but we will find out soon enought when or IF and rns drops about it....GLA!! and most off all and most importnatly DYOR!!!
maybe times they are a changing....
castros are stepping down for new generation...
Kashdog - Here is the Sherritt Q1 2020 Report
It states "Total overdue scheduled receivables at December 31, 2020 were US$145.9 million, down from US$159.1 million at September 30, 2020 due to the timing of payments received and re-direction of Moa Joint Venture dividends."
Maybe Ascent will fair better in Cuba than Sherritt does. Only time,,,,and money....will tell. DYOR.
Alwaysup, nice bit of research albeit dated 2019, regardless, your point is well made! There will be no Cuban govt subsidies, no partnerships with majors who undertake due diligence and no money made available for such a high risk venture! Parsons and his cronies who have no operational experience are blowing smoke up the rearends of the conned private investors in this company... have any of the board which is made up of what I perceive as "dubious" moneymen invested any significant amount of their own money since the "new" strategy update some months ago?...there's your clue!...None of them have in any significant way. It beggars belief that they are allowed, under the rules, to consolidate and dilute to cheat PI's whilst paying themselves generous salaries.....the rules on AIM need to change to give fairness to private investors.
oldblue1973 - Just doing my own research as you suggested. I said this long ago on here. For years Sherritt has been having a hard time getting paid from the Cuban government (see the link below). Even if Ascent moves into Cuba, and that is a big if as the MOU is not even a legal document, dealing with the Slovenian government will seem like a walk in the park compared to dealing with the Cuban government. There is no arbitration in Cuba and no national treaties to follow.
What is an MOU: https://en.wikipedia.org/wiki/Memorandum_of_understanding
Any talk of Colin Hutchinson knowing what he was doing...believe me we had a frank exchange on LinkedIn where he wanted to know "who I was??" I have him a few home truths about investors having money tied up in pensions following his scripted interviews - not much in the way of an answer. I hate to tar & feather any Accountants with an MBA but I was amazed he could be a CEO. He is now fundraising elsewhere . If I had met him personally beforehand - no way I would've invested in this co.
Btw to all of the optimists...it's now mid April? What has been achieved this year & how much salary has been banked by the BOD???
Oldblue, strangely, I agree with you!... either one of us could be right or wrong, we just have different opinions. Fully agree it is essential to do good quality research before you put your hard earned down and also agree to take everything on here with a large pinch of salt!!... I just wish I had followed this when I jumped into Ascent years ago...a lesson hard learned. I wish you and others on here good luck because I truly believe you are going to need it!
anyway tought ild point something out...maybe something maybe nothing....ill let you get back to your bashing....GLA and most off all DYOR and for christ sake take everything off a message board with a huge pinch off salt....GLA..maybe right maybe wrong...who knows...
its not like you want folk to sell with your (strong sell) at all is it?
thats fine kashdog (strong sell) thats your opionion with a (strong sell)
Old blue, Sherritt ended 2020 with cash and cash equivalents of $167.4 million ($75.0 million held by Energas in Cuba), up from $166.1 million last year ($79.8 million held by Energas in Cuba).
They employ drillers that use Horizontal Directional Drilling (HDD) to access "complex oil" 1500 metres below sea level. Do you know how expensive that is?...even if you can find the oil in your licence area. Ascent have no way of raising that level of capital which would be required just to explore never mind produce and transport.
Sherritt also mine for Nickel and other metals, they don't scratch around in tailings.
This BoD are trying to extend their lifestyle off the back of uninformed investors (gamblers)....of which I was one!!..I hope I have learned my lesson and that others learn from it too!
lol after all your negative rubbish you where only able to drop it 1.7% says it all really...GLA real holders
now looked a bit found these
Canadian resources company Sherritt International is a big nickel player which mines and processes nickel laterite at Moa Bay in Cuba using HPAL technology and the nickel concentrate is sent to Canada for final processing. Sherritt is also the largest independent oil producer in Cuba with more than a 20-year history of E&P primarily from fields in Cuba and is the country’s largest independent oil producer. Sherritt has developed an expertise and proven ability to find, develop and produce oil in Cuba’s complex fold and thrust-belt reservoir. All the company’s wells are directionally drilled and are located along the northern coast between Havana and Cardenas. Oil in Cuba is located about 1,500 metres below sea level and Sherritt drills directional wells up to 5,600 metres long to pump oil to the surface
now sherritt are huge in cuba but they have oil and NICKEL dyor google a bit they seem to come up alot now we are going for oil in cuba and a tailing wich could be NICKEL i maybe putting 1+1 =3 but my spidey senses are tingling everyone have a look and see what you can find GLA heck suppose im LTH now!!!! imho etc etc as usual as most off all DYOR!!!!!!!!!
Disciple13 - A pump?
Yes, of course they were. The luxury lifestyle costs more than a few monkey shareholder's peanuts.
Seriously, wasn't it a pump? (no dump insinuation intended)
Disciple13 - Much headway was made on removing the stuck tool. But operations were stopped halfway through because the funds in the bank were needed for other things.