The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Gary, I am not sure that fines etcwould make much lasting difference. Its about all they can do though.
The problem of course is trying to change behaviour rather than the after the event enforcement just being "a cost of doing business".
Very true - although I'm sure one or two cases against Nomads for breach of duty and hefty fines would probably change things to a certain degree. I'm sure that some of these businesses are all a con from the outset, with directors, brokers and nomads, plus PR, all complicit - especially in the past where we have seen some resurrected from the ashes on a massive pump (more than just PIs pushing it), the share price soars and then comes crashing down again! A certain potash company that was apparently going to feed the whole of Africa and was very 'cleverly' marketed to PIs springs to mind!
Gary, I think a large part of the issue comes from the fact that all the oversight come simply feom a Nomad. I am not sure how else it could reasonably he regulated though.
It is akin to have the fox manage the chicken coop.
What on earth has that got to do with Nuog?
Looks like shoal point are going after more leases in Newfoundland
2. Provide a general overview and discussion of the activities of management.
Management is actively evaluating new opportunities both in Newfoundland and in other jurisdictions. Management has submitted a letter to the Minister of Natural Resources in Newfoundland and Labrador (NL) expressing interest in the bidding on some onshore oil and gas acreage. Management is currently evaluating the area of mutual interest (“AMI”) in Mount Evans Prospect in Kansas.
I’ve written a few articles on this topic in the past - but the reality is that rules are in place already, it is just that they aren’t properly enforced. It is also hard to prove deliberate market abuse - I’m sure Minty would argue that the timing of the incorporation of those subsidiaries was pure coincidence, and just happened to come at a time when all sorts of rumours were going around about Brazil - very deliberately ‘leaked’ in my opinion to a select few who thought they were insiders and were known to pass on what they heard! - and just prior to a placing! For anything to be done, more people need to want the market to be cleaned up - many don’t as they make a lot of money the way things are currently.
Gary - agree.
So trying to take things forward how would you suggest things are changed so Minty & co get reprimanded for what they have done & how are these things stopped from happening again ?
I'd genuinely like to see articles like this as they really would help everyone, rather than just the normal mud slinging
Some people have been saying that for a good few years - right back to the days of the ‘deal’ with Wood Group! Not to mention pointing at that the more recent ‘deals’ with big names were merely agreements for the provision of services (at a cost of course), should anything ever happen! Most companies aren’t going to turn down potential business. There was lots of spoofing going on here - one of the worst was the Brazil and China subsidiaries being registered with Companies House just a couple of days before a placing - shouldn’t be allowed to get away with deliberate market manipulation, which is what that was used for!
True!!
Cobra
I think one can safely assume that if any of Minty's wild ideas, from his Advanced Buoy Technology through many iterations to GTW had any hope of success, the company would not be where is is today. I think that GS must have seen from his role at MFDEVCO that it was all fiction and hubris.
Future MBA students will study this.
Nice spot SBP....that supports the theory that GS was led a merry dance like the rest of us and the latest chain of events was his design rather than Minty's. Would be nice to think that Minty had this forced on him rather than plotting it all for his own gain. He has still managed to come out of it winning both ways but at least he may have felt a bit of discomfort in the process.....
Yes it's not up to the usual standards of the Sage of Strangeways. Mostly a statement of the obvious rather than insight ( see what I did there ). I would have thought even a reformed crook would see a value to someone in an unfettered £8 million tax loss inside a cash shell with a marcap of £1 million. 4 or 5 subscribers to the placing eh? Him not one of them, I presume.
Interesting that Scotton has been sacked or resigned from the MFDEVCO board , as reported to Companies House yesterday. I suspect GS and AM will not be be sending each other Xmas cards this year. I wonder if the NED, Frank Jackson, was the "agent provocateur" who clearly introduced Graham Scotton , and did so to bring the NUOG farce to an end?
Even Dan agrees there is a useful trade to be had here.
And yes, 'mostly' is ironic, before anyone flags it :)
It appears the 2019 award for mostly poorly written article on AIM goes to.....Steely Dan! Highlights include the interchangeable use of their and there, more apostrophes than any other article in history, ever, along with the most patronising tone in history, ever. Just a thought but might have been an idea to get one of your fellow 'proffitts' to proofread before publishing?!