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The forward sellers make their profits at the expense of pre-existing (and often long-term) shareholders, who’s stakes are diluted and hence devalued.
The buyers of the forward sellers’ shares may not be aware of what is going on (that was certainly the case in the Nighthawk example) and are purchasing shares that the company is issuing at a price that is inflated relative to the issue price. In the New World case, anyone buying shares from the forward seller at 0.075p was paying 36% more than they could have paid, had the company made the shares directly available to investors.
A less obvious problem is that for this practice to succeed, there needs to be a strong market for the shares that the company is issuing to the forward sellers. In my experience, one often finds very bullish comments about the worth of the company at such times, which can mislead investors and encourage them to overpay. In the case of New World, investors ultimately found themselves with worthless shares, as the company subsequently delisted.
And it was only announced today, so volume hasn’t come from retail offer! It is likely those like unWiseOwl who have loaded up outside of the placing.
Maestro, I can forward sell and many others can. But for those using the likes of Hargreaves Lansdown or such, I doubt you can. Can anyone confirm that?
You do know you can forward sell, where do you think the volume is coming from? Over 250m since placin rns.
Cheers Doc83,But we can but try ...Im just an "Old Gezzer" who is a LTH havin a moan!!!
Zellman - I’ll be amazed if they mention your question, especially if it’s a tough one!
For those looking for a potential short term trade, the new shares don’t settle to accounts until Friday. You might see a flood of sales on that day before the price settles and recovers again. I’m a useless day trader, though. So they’ll likely be 10p that day.
Thanks meastro1,I have sent my email and requested that MB please read my question and put it forward to the AGM..I contacted the company on their web address as the one on your email did not seem to work for my email.
Wondering what disappointment next week will bring.
History may well give us a clue.
What will the problem be this time?
August 12th 2016 = 3.20p. August 11th 2017 = 8.85p. August 10th 2018 = 8.30p. August 9th 2019 = 6.70p. August 14th 2020 = 2.85p. August 9th 2021 = 2.85p. August 11th 2022 = 2.20p August 11th 2023= ? Hopefully a lot better than where we're at today. GLA
well, before the ri announcement we were at approx 4p. We then had a fundraise meaning 20% more shares. Well 20% of the 4p would put us at 3.2, where we are now. But!!! We now have approx 6 mil in the bank to get the jobs done! What a result, hopefully onwards and upwards
Seriously underrated and undervalued
Following this company ever since shell pulled out, i will say one thing, petrovalis has been very loyal shareholder, always backed it, even loaned it money when times were tough.
When company has Enterprise Value of around £23m, you have to take notice. Matd are significantly undervalued.
Always one to march to the beat of my own drum, the Velociraptor drill is what matters to me. I'm only a few points off my average price and I'm really surprised the SP has risen this much so soon after the "we have enough cash" raise, stitched up twice it feels, something told me it was inevitable especially when it was announced that there were new acreage to be offered up for tender but I suppose anyone could say that. But it is done now and obviously Mr MM sees it as an good opportunity too. So are all the ducks set up in a row? and how much good news is coming our way as the uncertainty of a raise now is well and truly behind us. Only a week to find out GLA LTH and newbies. :+))
Ask the question, its not difficult.
"Shareholders who may not be able to attend the meeting in person but wish to ask a question are encouraged to contact the Company prior to the AGM by email at ir@petromatadgroup.com . Any such questions should be submitted so as to be received by the Company not later than 48 hours before the time appointed for the AGM ."
The AGM is only a week away now, hopefully we will know a lot more by then or by the end of next week, hopefully we will have a much better idea of what is or isn't happening and where this share is going.
Until then, let's all relax and wait for the outcome or news. Anyone who honestly thinks it will be a can kicking exercise and further delays should either exit before then or hold their nerve and accept that whatever happens, this is a gamble.
My investment isn't large here but I for one will hold and hope.
Good luck all.
The peace deal has not worked, I will now put you all on lock down no more posting from anyone until tmrw 7am
All us LTHs know that M.B is a "SNAKE" and had us over ...No wonder he announced to not hold the AGM in the U.K before the Fundraiser..However there is little we can do about it so let us "just chill" .I only hope all M.B "insiders mates" somehow sell to soon and miss out on a real opportunity.....
Maybe you should fly to Mongolia mr Doc and thrash mr Buck with whip to hold him to account lol
This is silly talk & everyone know
Everyone else look at investment & do not worry about revenge. If you do not trust management to do job then only foool will buy & more.
Are you foool mr Doc lol
Be happy & not fooolish sir ;)
I should have said, because I thought we'd get scaled back, I went on the high side with my order request. I was expecting to be scaled back far more than the 67% we ended up getting allotted! So yes, the holding is a bit too much now if I'm being honest. But it has worked out well today.
Hang on a moment, Master82. We were 5.5p not so many days ago. We are now 3p.
I think I've given my MATD history before but I bought in a small amount in the summer 2021 raise at 3.5p. It was a punt, pure and simple. I was pleased, but cautious, with MB's presentation/interview in December and so decided to increase my holding to something more worthwhile. I suppose I agreed with the point made that if MATD didn't get the LP, then it would reflect badly on Mongolia and the international community would be reticent to invest any time or money there.
However, IMO MB has been very naughty here. He made it very clear there was to be no cash raise. Now, if circumstances have changed (maybe for the better, we don't know) then he needed to communicate this. I also don't know why ordinary PI's weren't given the opportunity to take part in the main raise... all a bit fishy.
As for the raise and me taking part, I seen the SP rise to 2.9p and felt there was a good chance it wouldn't fall back (in the very immediate term at least) to 2.5p so thought I'd try to get some. I was also fairly sure we'd get scaled back, which we did, but we still got 67% of our additional requests. I now have a fairly chunky holding which I'll be trimming back at some point but I'm going to most likely wait for the AGM as Dozzawba suggests.
iamrich - well said. My frustration is more that LTH's seem happy to not hold MB to account.
Once this deal brokered and signed you think you could get zel n putin sorted ;)
Cheers
GLA
DOC . You invested in a company where you have doubts.
Let's hope this rise will stop you from questioning and criticising everyone who is pro PM.
It is okay mr Rich be happy :)
WiseOwl always fight for justice
I'm hoping I can broker a peace deal here, we are all here to make money, the fund raise has happend and now only the main news awaits and share price to only go up,
Can we all let it rest and allow each other to post here wether it's deramp or a ramp, becaus we are only getting into more pointless posts flooding the board,
Wise owl you do post non stop maybe reduce a little on that side of you don't mind
Can we all just get along and discuss matters going forward now please
I thinkmi give very hard time to cheap trader people like mrDoc & Mr Thorngason.
I stand up for true shareholder here :)