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Carry on mining, total disgrace this company, incompetent directors, smoke mirrors, thought back in Oct going sell assets, Placing will not provide sufficient cash resources to repay outstanding non-secured shareholder loans of £2.7 million, keep lights on funding,
well thats f***** ****. but at least we're still in the game and it doesn't look like we're going to get shafted at the moment especially as rab capital have participated in the placing.
https://www.londonstockexchange.com/news-article/cgo/placing-operational-update/16411108
I'm just awaiting the "going into administration" RNS.
Then picked up for peanuts.
It seems unlikely that all the effort of relisting this asset and the passing of shares to the old Sable shareholders was a scam, most of the original shareholdes hold most of the equity here, The board is filled up with players who were trying to make a quick buck seeing their investment disappear. The ammount of floating shares is very small with low volumes producing huge share price movement.
I'm 85% down. If we end up getting ripped off here then someone is going to get physically hurt. No legal battles or anything like what shareholders are trying to do over at Bidstack (good luck to them nevertheless). I'm going to take a direct approach.
A billion tonnes of coal, more than enough to last more than 100 years, and we're supposed to believe the mine is sitting there idle, not producing or selling any coal, after all this time, after all the money and resources spent building it? This board won't see daylight ever again if they f*** us over. I'm not going to get ripped off again, not this time.
Let's see what Monday brings.
Been real disgrace running of this company, so many false hopes, smoke mirrors potential acquisition of its assets back in Oct, notice leaky ship this company so fall due to leak mayb, news I'm sure soon, could surprise. GLA
How do you know there is activity on site. Can you share the evidence please ?
Activity on site still ongoing - so must be something going on
Not surprising is it given the CEO's track record. I was surprised people trusted him enough to invest in the company
GLAD I SEE THE LIGHT HERE OVERALL EVENS N MY TRADES
Unless they have news, its hot air. The price is falling because the BOD is failing. The Market is reacting. No confidence/trust/belief.
They will run of of time and rope eventually unless they start earning. No sign of that, no orders. Only that or news of a real offer will raised this share.
Last I heard from the Doc on CGO he still had a position. Anyone know if he's since sold?
On the 8th of Dec the SP had been declining steadily to 2.60 so they issued a RNS to prevent a further drop, only worked for a week or so and then the drop continued.
The SP has fallen massively over the last 7 trading days so do we get another RNS about share price movement???
That's the thing here isn't it. They've done a lot of things and it's been fairly high profile in the country. I agree they have been able to raise funds fairly easily and I'm sure they have some valuable assets which make the price ludicrous but no takers for the product after this long? Radio silence from the Board when the share price plummets? Either they just don't care or they really don't have anything positive to share and are scared to say so. It doesn't take much to acknowledge the drop in share price and say they see no reason for it - they've done it before.
They relocated a village to open this mine so if it goes T!Ts up they'll have a lot of explaining to do.
They have been raising cash easily enough over the last few years from insiders, so not worried about administration just yet. IMO, think they were always hoping for a quick sale rather than actually operating it.
Added costs to transport to coast for shipping not helping to overcome lack of interest more locally. Think the Chinese have that sown up, as no orders after all this time.
Well judging by all the little videos on their website and the hype around the opening last year you'd have to say they have. What I want to know is why does nobody want it???
If they have the coal then I can't see what the problem is with selling it so.....do they have the coal?
I'm just awaiting the Administration RNS next week.
Agree May1. No point in selling now - really beginning to annoy me after all the promises and 'progress'. Too many failed agreements to purchase their product by the looks of things. Either that or things take stupid amounts of time to go through out there. Trust all but gone at the moment
No point selling now, worth next to nothing as a LTH anyway, so may as well just see what happens.
Seams to be let to bleed for a reason.
Absolute sickener for long term shareholders. When are we going to get an update or is this going bankrupt.
Same old , Esprey/groves same mould , a joke now
Come on Mr. Esprey show your long suffering shateholders some respect. Over 3 months now since an update.