The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Donald,
4m is a very good holding here. I would not call it punt money. You should do very well here in coming weeks/ months.
We can see, everything is getting fast tracked here. Company is getting their house in order before the drill. We should get news pretty soon on EssarM deal sign off and PSC which both seem given to me. Govt wants to raise revenue and probably brokered EssarM and Shorecan settlement to get a move on.
ATB
Ha! Brilliant DSC - about covers it
How could you forget 'ticking up nicely'!
well done all - only popped out for a dog walk and come back to us flat, had a feeling they would drop it below 0.3, free money for the MMs at that level.
I know we are a little disheartened to not see this at 0.5+ but how nice is it that it appears to be carving out a base at 0.3 :-), only 2 months ago we were at 0.05
In case anyone can't be bothered to read all of this week's posts, here is a condensed version of what has happened so far:
Tree shake
Rerate.
Seller out.
Buyer in.
Peel in.
Peel out.
1p target.
Punt.
Undervalued.
10% down.
Level now.
Fill yer boots.
Don't sell, they want your shares.
I think that covers it.
Market FOMO will start kicking in at 0.36p.
0.4p is still sub £16M which is peanuts. A TR1 Friday or first thing Monday will be ace
After going 10% down we are now level.
The two main sellers all this week PEEL and CFEP are now buyers lol
Let me know when we're blue
I think the brief stop at 0.28p kicked some buying pressure and upwards it started going.
See that L2 switch just then Shaw- lovely
MrNation, if I had 11 million quid, I would buy COPL, lol!!,
0.31p being paid on full ask, moving up again, slowly.
True Bolton but this time it’s do or die.
All parties are singing from the same hymn sheet and it’s in the interest of all parties to get deal done and start moving forward.
0.29p is being hammered with buying, soon it’s dropping further or going up past 0.30p.
So Jiving how do you interpret what is currently unfolding. I've never been so confused.We are used to surprises and hiccups bit here they seem neverending. Unravel this if you can
That's fair enough.
Do take a look at page 13 of the quarterly results and the loan agreements from June 15th. I was tying that in with the 411. Could be wrong of course. Not that it matters as shortly the overhang will be cleared.
Cheers.
Its all about loans and finance at the mo which is not great for sp what we need now is positive news goimg forward and I hope this time we are close sure i have been here many times before though feeling like this
The 411m has NOTHING to do with YA, but is entirely for the debt to equity swap, which is not yet formally agreed here from yesterdays RNS :
". ..the Company has reserved 411,326,189 common shares in the capital of the Company to be allocated for the settlement of debts to its unsecured creditors, accrued unpaid wages to its employees and the secured Promissory Note due to its CEO at the Placing Price."
YA & Riverfort subscribed for a total of 38.5 million between them or 19.25 million each. Here from yesterdays RNS:
"..being 38,500,000 to YA II PN, Ltd ("YA") and Riverfort Global Opportunities PCC ("RGO") as shares in lieu of cash for fees, and interest of 12.5%, pursuant to the loan agreement ("Loan Agreement").."
To the investors who have been here a while or brought in at the lows know how low this could have tanked after the placement.
Just a matter of sitting in and holding tight.
Oh, and found this............
www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwiSv6byja7qAhV-QxUIHRpuCg8QFjABegQIARAB&url=https%3A%2F%2Fforeignbrief.com%2Fdaily-news%2Fnigeria-collecting-bids-for-new-marginal-oil-fields%2F&usg=AOvVaw2f6u7wyfkvf8A-VLGoz4mk
Mister it's 411M total in the admission document yesterday. Taken 50M off for AM.
Come on any more PIs want to sell below 0.3p placing price
Dropping it down to 0.28p has kicked in a lot of buying.
Bladderman,
I am confused about where you got YA 350M ?
YA and Riverfort both only provided £100k each in first placing each getting only 33.3M shares each.
Let's hope for a blue day today GLA
What an opportunity it has created for us this week!! Loading at 0.31-0.35p at this stage of proceedings.
The previous agreement with YA was terminated (from April 30th) to our advantage. The shares these potential shares were being issued at 0.3p (The Placing price). Line in the sand springs to mind
*Friday not Thursday!
I believe the selling of the stated 411M (approx 350M from YA) was triggered Monday after FCA approval on the previous Thursday (26th) and will be completed today or Friday.
Time will tell!