George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Think the gravy train must be heading for the buffers,next to the last chance saloon.
Agree rag & all while the board of directors get handsomely paid with investors money win or lose.
Then they move onto the next venture, just look at Quindell & many other businesses.
With a horse race ,you can see the runners and riders and the course.Aim runs the race generally in the dark ,changing the length of the track and rules to suit themselves at will .
Yes the loan note issue is very worrying but I remember Chaco (I think it was called) on the AIM some years ago in a very similar situation. That turned out okay though & was a 20 bagger for me personally, although I definitely got out too soon with hindsight.
To everyone thinking of investing here, this is the AIM, it is nothing more than a gamble so treat it like a day at the races, do not bet more than you can lose. many, many oil exploration companies have gone bust & for those that don't understand when they go bust you have lost your money, forever. Hope EME is successful though.
Looks like us mushrooms don't need to know whats going on . Good communication and prudence tends to go hand in hand with quality management.
Obviously ,there seems to be little respect for the shareholders,never mind, the bod salaries will not be affected.What goes around comes around.
Keeps on dropping and dropping. Padlocks on the doors RNS or something in the pipeline.
Just to let the bod know this is the last working day,would be nice to get some info for the people that actually own the company.
No matter how you view the RNS eme. are on the back foot thanks to the BOD.They have gambled and lost shareholder's hard earned cash.I don't know whats going to happen with the Mako gas asset but i carn't see it being monitised for true value thanks to circumstance .
Rpg, re : CLN the below posted a few weeks ago : thanks to' georgesorrow ' on the other forum
'' Like most here I have started to fret about the loan note holder (LNH) redeeming the loan note immediately after 31 July if a binding GSA has not been signed. At that point the value of the convertible note would be £2.67m.
But it is not a foregone conclusion that the LNH will want to do this. The LNH had the right to redeem the note within five days of the Jade well announcement, when its value was £2.2m, but chose not to and restructured instead.
The face value of the note is £3.3m at the moment. If the GSA is not signed by 31 July and the LNH chooses to redeem shortly afterwards, the face value falls to £2.67m as stated in the RNS dated 10/5/22, so the LNH appears to be taking an instant £630k hit by opting to redeem.
If the LNH has confidence the GSA will be signed in the near future, it could choose to sit tight, and so EME's short-term financinng problems recede.
The wording of the RNS is actually pretty inadequate in that it only describes two scenarios, when there are clearly many others. It says:
"If a binding GSA is not entered into with regard to the Mako Gas Discovery in Indonesia on or before 31 July 2022, the Lender may redeem the Convertible Note at any time thereafter, in which circumstances the face value of the Convertible Note will be reduced to GBP2.67 million;"
This can be read as EME being rewarded for lateness in the GSA being signed to the tune of £630k, irrespective of when the LNH chooses to redeem thereafter ("at any time thereafter"), i.e. before or after the GSA is eventually signed. I can't imagine this is the case.
The RNS also says:
"If a binding GSA is entered into with regard to the Mako Gas Discovery in Indonesia on or before 31 July 2022, the Lender will not redeem the Convertible Note prior to 1 December 2022, with interest accruing thereafter at a rate of GBP330,000 per calendar month;"
Taken literally this means that we only have to worry about £330k/month interest from December if the GSA is signed in July, and that if the deadline is missed and Duyung has not been sold then none of this applies. Again, I can't imagine this is the case.
The wording is clearly inadequate. If the GSA is signed in say September and the LNH chooses not to redeem in advance of a sale of Duyung, is the value of the loan note £3.3m or £2.67m? And does the interest kick in from December or not?
Anyway, my take from revisiting the RNS is that it is not a foregone conclusion that the LNH will choose to redeem shortly after the 31 July deadline.
The option is there, but the LNH may prefer to sit tight meaning that a cash call/placement is not necessary. But I would be resassured by a more comprehensive statement on the debt restructuring that covers all scenarios.
The more you look at the wording of the RNS, the more confusing it becomes. ''
Kalahari11, you are stating the obvious, the problem is eme have to be sorted by next week .'' If a binding GSA is not entered into with regard to the Mako Discovery in Indonesia on or before 31stJuly 2022 the Lender may redeem the Convert Note anytime thereafter'' So good luck with that one
An interesting post by ' sue999 ' on the other forum, hope won't mind my sharing here for thoughts as well ? '' One important point is that Conrad Energy which is a private Ltd company plans to go public in 2022. The IPO will be for the Australia, and before they do this they need to give a realistic valuation of the Duyung which they own 76.5%. This can be done before the end of the year?! The value of EME's 8.5% could be higher than estimated after the IPO. The longer EME can sit on the asset, the better value can be released.
Conrad aims to start Feed work on the development plan and that would also increase the value of the asset. Can the three companies merge. Coro, Eme and Conrad and develop the asset. ''
The value of the Mako gas discovery has been enhanced ,not by eme. but by world events.Looks to me that this will be to no avail because the company has thrown everything but the kitchen sink at the last drill .Think we are in a race to the bottom, All in my opinion.
Sadly this is just a penny share with a small hint of profits & there are a lot of IF's attached to that possibility.
I feel sorry for those that brought at over 10p & who are sitting on 90% losses, not helped by those rampers spouting rubbish of quick, astronomical profits. Fools & there money springs to mind.
Please don't buy more of these until there is concrete positive news, if you do before any you are just throwing good money after bad. THE AIM IS ONE BIG GAMBLE.
How many shares does TK hold, 88,888,888 ? Gaz, I'm not too sure, but a substantial number as well. How many - substantial - fellow shareholders don't think TK and GB will be busting their balls to get Topaz drilled ? Rhetorical question btw.
If /when they hand the cap around who's going to buy .Isuspect it will be like buying confetti,not from me i'm afraid unless there is a bod transplant.
Answer - More shares will be issued thereby diluting your holding & reducing the SP OR they will borrow more thereby reducing the SP.
EME & the AIM in general is a game for the patient & those with money to burn cos that's what's going to happen.
We need cash to maintain the loans we have so where is the extra cash to drill coming from?
Topaz drill is next year?
13days left.
19 days left (including weekends),better get them 30+ years into gear.
Mr 30 + needs to learn to play the lyre.
''If a binding GSA is not entered into with regard to the Mako Gas Discovery in Indonesia on or before 31 July 2022 the Lender may redeem the Convertible Note at any time thereafter, in which circumstances the face value of the Converible Note will be reduced to £2.67 million''
Three weeks left ,incuding weekends. Not a word as yet?
RPG - AimG won't know what nom de plume means, another trip to the dictionary muppet.
Obviously very bitter because he / she was gullible enough to buy these & other AIM stock hoping to make a quick buck & is watching the invested dole money go down the drain.
Sad but Aim the Muppert shouldn't be allowed to be in charge of a piggy bank let alone have a trading account.
At least we may get a free sandwich if the whip round is a success, ha!
Just trying to bring a bit of realism to your sad life aimgambler, your heading for a total loss with this one.
You should look realism up in the dictionary muppet.