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Worse two shares I have invested in COPL and here both turkeys. At least I have made up some of my loses with UJO.
I'd also hope that Minty Jnr is held accountable as it could all have been avoided had they placed earlier in the year, the decision not to now looks ridiculous.
It looks either very deliberate ( for Minty Snr to gain via debt for equity at current price ) or gross incompetence.
I fear it is the former as I understand that previously Snr attempted to do the debt for equity but was quashed by the BOD ( at the time ) and the nomad.
All of those would still be futile without a valid, revenue generating deal, and we all know that they've been unable to conclude a deal
The SP is too close to the nominal value to allow a discounted placing, which must now be pressingly urgent. So despite the recent EGM, the board will now have to convene another general meeting to approve a financial reorganisation and consolidation.
Even if they get that away, who will buy the placing?
It would not surprise me if Scotton resigns, after the farce he has orchestrated.
can't see any positive news coming in the near future, its being run on fumes.
Typically incompetent management to go through the hassle of the resolution then not do anything with it , why bother to do it now ?
Also could do with an update on the NFL legal matter ?
But that would mean the BOD talking to the LTH's and we all know they prefer to do that by way of Minty the Mouthpiece on a nod & a wink
When are we going to get that transformational news?
How long before Gordon Bowden starts looking into this company
Well the Market Makers have created one heck of a market by walking it down to these levels...difficult to keep up with all the trades....
I largely agree with Starbuck, but it can be a bit dangerous to be too regimental and formulaic.
The question, for me anyway, is "what is the impact to me of failure and fan I accept it".
Given AIM it is maybe best to consider that potential impact as total loss (unless you are very good at sticking to stops).
Bitter experience tells me personally that whilst I might think "it's only 10k or whatever, I can stand it" when it happens I am rather less sanguine. Thus I considerably scaled down and went to a teading only mentality with aim about 6 years.
Starbuck, Totally agree my AIM pot is only 90% of my overall PF with a strict limit of 10% of that being held in any 1 stock, I review this every November and adjust accordingly, overall this has been a winning strategy overall and one that the expensive wrong decisions haven't wiped me out. Discipline & Patience are key in my view, as are being prepared financially & emotionally to make bad decisions. But I do feel for those that go all in, but there are so few of their stories that go well compared to the plenty that lose the vast majority of their PF
As commentators or mere by standers. With experience of the markets it's this experience that educates the next generation of investors. This knowledge which is shunned time and time again by the inexperienced novice.
You should never have more than 5 percent of your portfolio invested on the AIM market. It is surprising to see the levels of investment made on this particular stock by the inexperienced investor. With absolutely no second thought for risk. It's astonishing.
Some like LT having had an investment here of around 1.3m and watching it disappear to a fraction of what it once was. On a company with no factual direction or revenue generation.
I suppose if you have that all or nothing mentally it is a feasible propersition . For those without this trait we continue to watch avidly on the outcome of one's endeavours....
No gloating, just pointing out the facts. You're as wrong in your assessment of the number of people I know/deal with personally on a daily basis, quite hard to be a 'loner' in my job, as you have been about this company :)
Billf, I'm guessing he doesn't, it does take a special breed of lowlife to gloat in others misfortune, thankfully that's a mindset I've never had, clearly the man has issues and was probably a loaner at school and didn't mix well with others.
Never mind at least he now has social media to talk to others on
Congratulations again on your wisdom. And thanks again for coming on this board telling us about it....sure you've nothing better to do with your time?
A lot of what I said and the concerns I raised over the past couple of years have played out, with the share price down over 90%... I took a lot of flack from people like Seadog for the views that I expressed, yet strangely he suddenly seems to have disappeared from here as the share price collapsed, as have others!
I'am still awaiting a counter argument.
Seems most just dismissed it, as they didn't have any defence.
Speaks volumes about the potential here and it's invested...
Yep. But at least Starbuck has copy and paste skills, managing to post the same post from a week or so ago...good old Gary is just helping us all again, giving us the benefit of his wisdom....
Tweedledee and tweedledum must have woken up together this morning.
I did point out at the time that the setting up of the Brazil and China companies were all part of the very deliberate attempts to pump the share price pre-placing - but got told that I was talking rubbish and huge news was coming etc. If I was being cynical, I could easily seduce that the company was part of that pump, given the MFDEVCO link; the timing of the incorporation of those two holdings companies; and the fact that they’ve remained dormant ever since!
So today has been a watershed low in the extremely troubled history of NUOG. Yet another of the over confident and pompous significant holders, Mcadder, has sold out at a near 50% loss. Just like the one before him, Seadog, and a collection of others Sharelock, MajorMinor, LastThrow, WOBWAT, et al to name but a few who have pontificated, defended the company and made disparaging and threatening comments against anyone who dared to question the veracity of statements made by the company and their lack of delivery. There was always something going on in the background just about to drop, a network of secret groups, being fuelled by whispers from the company. All morally bankrupt and highly illegal but yet encouraged, the end game to maintain the SP & lure in unsuspecting new investors..
So as with all good things (the Minty’s NUOG gravy train) seems to be finally about to hit the buffers. The lies and smoke screens have been exposed for what they are; there’s never been a flow test in NF, no negotiations to get a better deal from other interested but instead a bitter dispute has been rumbling on. The “agreements” with names like Abel, Petrofac, manarvi, Siemens, Akers are simply intentions to explore business opportunities to provide services, nothing more nothing less. The Brazil and Chinese holdings companies nothing are nothing but companies house listings intended to give the impression of progress or substantive work and representatives on the ground glorified sales agents (anyone heard from Evo recently?). Brazil has fizzled out into nothing if indeed it ever was something but we’ll never know because in all honesty the company have never uttered a word about it in formal communications.
The latest GTW exploit with suitors lining up to provide seed funding has been shown to be yet another carrot dangling, money raising falsehood to try get a placing away and here we are 4 months later with our new Exec Chairman coughing and spluttering his way through a hurried podcast, blaming nasty PIs for their dire financial position and desperate to raise more funds, and for what exactly? We only know all of the above, and indeed anything from NUOG because they are forced to or the passage of time means its been exposed as false.
In all honesty that’s why the likes of mcadder has sold out. He’s a professional gambler who’s cut his losses to minimise risk and anyone sensible still in here would do the same. No “victory” will come from stubbornness, further funding this charade and the morally corrupt or from total wipeout.
Indeed, these last two weeks as the SP has fallen to 4 year lows there’s not a word from the company. Now what does that tell you? No details, no hope, no credibility and no capability to do anything(which has been proven time and time again). Last man out please turn off the lights ....
The irony is I think what he is doing is playing into the Minty master plan, so to answer your question he is Minty's ***** with no interest in Share Holder value, either that or he is just another incompetent employee of NUOG
GS must be the most ineffective Executive Chairman ever. What is he actually doing? I would have thought that he/they might have the decency to provide shareholders with some information. Just looked at their website which was funny as the first page headline states “Lower risk development and production”. Very ironic on a couple of fronts!
my guess is its lights out or a hugely discounted placing as they have done absolutely jack sheet in the last 2 years , one of our wiser moves bailing out in July 2017 at 1.4 p , all the hallmarks of a lifestyle company imo
Proper not people!
How many more -10% days can we have! GS needs to change the nuog ways and produce some people evidence of the projects we are working on.
And buy some shares!
Quite surprised McCadder disappeared without saying what encouraged him to sell
Quite chuffed I've been mentioned in despatches Kev/Roy.
Completely inaccurate description but that's what you get from posters with no shareholding who give a running commentary on the company's lack of progress. Worryingly he has 11 recommends which means that there must be some genuine shareholders happy to provide some oxygen.