The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
“Why on earth would you remain invested in a company you have told us is run by an incompetent liar?”
I don’t recall me saying he was incompetent. In any case, my answer is that I still think I can make money.
Master: “Doc what do you post. You flow with the wind . One minute you are positive next you are negative..
At least I hold my ground.”
Truly, this is a quite incredible post. I have remained consistent throughout. You on the other hand are second only to our good friend Hamm! Flip flopping around, guaranteed this, guaranteed that, now whinging like a bi7ch about MB non stop, repeating the same drivel about him. LOL, seriously!
Doc what do you post. You flow with the wind . One minute you are positive next you are negative..
At least I hold my ground.
Master - critically, you don't. You post what is interesting and then try to interpret it.
Doc what is your research . I just post what is interesting and related to PM.
"They will all need local oil."
Not at all. In current conditions, it’s even the opposite. Russia is full of oil, and MG is full of corrupt officials hungry for bribes. Under these conditions it is much more attractive for them to buy Russian oil under the terms of a rollback of some part of the contract price than to use their own oil, even if it was already produced. And while this situation continues, MG’s officials do not and will not have any interest in their own oil. This is precisely one of the reasons why they do not issuing a LP and this whole process has acquired the character of a circus clownery.
I've always found it a particularly weak argument to say to a shareholder if you don't like it then sell. As owners of the company it is our right to hold the BOD and management to account. Unlike many on here, I did virtually attend the AGM (I would have in person had MB not held it in Mongolia) and asked some tough questions.
If you'd really been here for a good while, then you'd know I'm actually someone who has been saying this will take a long time and not saying "rerate coming 15p tomorrow guaranteed!". Also that I don't think it's time just yet to get shot of MB. But he did (knowingly or not) mislead us.
Couple more things...
"you made a packet ( you say )..."
I've always been very honest and open when I've bought and at what time/price.
"i stuck with reading the board , through all the dross, because as i’ve said, master and a few others post some decent research"
Master's research is, sadly, usually wrong. That probably tells me everything else I need to know about you!
Well then b/p: What would help?
Whining about whining doesn't help much either!
ss - firstly, i don't buy the fact you've apparently been lurking on the side lines for a while but not "contributing". you're far too ****sure and arrogant to just do that. so fess up, what was your previous name(s)?
as for doubling my money because of his lies, well, sadly not. i'm in the red now. i think many (perhaps even myself) got suckered in by said lies/mistruths. but even despite his own performance, i think there is still a chance this'll come good.
"he effectively opened up the placement to pis which he needn’t have done"
this one is a corker. you mean the token $500k that was offered out to pis?! where we were scaled back on our orders (around 70% allocation). but nice to drop in about prd being even worse. bit like a doctor telling you you're going to lose a leg, but ya know, you've still got your other one!
and wigster, your comments are too funny:
"and you ain't seen nothing yet...there's a poster called wiseowlspeak who mercifully has been on holiday recently. wait until he returns, for the full undiluted experience on here..."
Today's local conference. Some very large projects are proposed. Road , railway lines, airports.
They will all need local oil.
https://fb.watch/ng6LaX-1eu/
//But that’s what he may have been led to believe.//
Yes - he's been hoodwinked repeatedly by the Mongolians who (despite assurances to the contrary) are probably quite happy to reserve Heron oil for their own use. It's not a good look for a competent CEO.
"This forum seems a vehicle mainly to whine, and troll each other, with the odd snippet of useful information posted by a few here and there"
Welcome to the world of LSE forums, looks like you'll enjoy it. And you ain't seen nothing yet...there's a poster called WiseOwlSpeak who mercifully has been on holiday recently. Wait until he returns, for the full undiluted experience on here...
“Doc - you stated the share price went up in the interval. That’s an opportunity to raise with less dilution ”
SS - why did the SP go up in the interval? Because MB said he’d been told the LP was due any day AND that we were fully funded!!!
Great tactic, though. Lie or mislead, let the SP go up, then do a raise.
“But if they pass, then very likely they’ll be a raise or JV needed”
Oh, and they have actually verbally confirmed this as well as their corporate broker putting it in a note. So lots of flags! Although it is fairly common sense and predictable.
Shortshrift - what opportunity presented itself in those 8 weeks? It wasn’t velociraptor as we had “plenty” of cash for that and other drills. Renewables “opportunity”?!
Not sure what Synairgen has to do with this… almost like you’re fishing for ammo. In any case, they’ve not done a raise for years, with the last being for a phase 3 trial after blowing the doors off a p2 trial. Sadly, they failed the p3 and are having to go again. Importantly, still no raise needed for the next set of trials. But if they pass, then very likely they’ll be a raise or JV needed.
Back to MB, I said previously that if he’s not a liar then he’s a CEO that didn’t have the vision or foresee what might have been coming up or needed. To say fully funded come what may, then just weeks later announce a raise is questionable.
My previous comment (months ago) that MB is a proven liar was deleted. I stick by it.
Smettila di guardarlo allora
Questa bacheca peggiora di giorno in giorno
“What would have happened if he said I intend to raise in 8 weeks?”
Exactly, he lied. Just had another listen (go to 30 mins in) and he said they have “plenty” of cash, enough to complete Heron, more drilling including Velociraptor 1 and a start on V2!!
So the cash from the raise in February must still be sloshing around.
Https://www.lse.co.uk/media/MATD/mike-buck-petro-matad-ceo-updates-london-south-east-on-velociraptor-drill-and-heron-1-land-progress.html
I think it was this one. For some reason my sound isn’t working but it was towards the end if I memory is right.
Shortshrift - watch Mike Buck’s interview from December, where he is directly asked the question “will there be any cash raises” and he says nope, we’re fully funded for the foreseeable future. 8 weeks later and well, you know the rest. Now, cash raises aren’t dreamt up and something you can do the next day. I suppose in his world 8 weeks could be long term?
Bye bye - don't know why you bothered.
The lie in December was that PM was "fully funded" & has been repeated in the statement that it is now "fully funded" until June 2024.
ShortShrift - what was your BB name before your latest reincarnation on 20 September?
If these “formalities” aren’t concluded soon then the SP could well fall back to 2p or less, at which point it’s going to be very difficult for MB to do a raise. He only managed to get the raise away in February because he pumped the price up from 1.7p to 5p+ by saying he was told in October the LP would be 1-3 months (naive) AND there was no need for a raise for the foreseeable future (lie).