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Practically full ask just been paid for just 135 shares. Hmmmm.
Persimmon they've already admitted they wouldn't be able to get a fund raise away.
Itsawrap we'll never know what /how Rathlin blew the money on. The bargain basement drill programme is to save as much on costs as possible & doing it on the cheap causes yet more problems. Our 2 crooks have screwed up everything they've touched, it's just a joke albeit a very bad one.
Simon I think you're deluded but it's your choice.
Make no mistake, our 2 cretins know this will be their last position as ceo's, their reputations are destroyed so they'll milk this company to death if allowed.
Persimmon they've already admitted they wouldn't be able to get a fund raise away.
Itsawrap we'll never know what /how Rathlin blew the money on. The bargain basement drill programme is to save as much on costs as possible & doing it on the cheap causes yet more problems. Our 2 crooks have screwed up everything they've touched, it's just a joke albeit a very bad one.
Simon I think you're deluded but it's your choice.
Make no mistake, our 2 cretins know this will be their last position as ceo's, their reputations are destroyed so they'll milk this company to death if allowed.
Based on UJO's Finals and their 1/6 of WN, Rathlin spent £2.7m on WN in 2023 - where did that money go? what did £2.7m achieve?...oh sorry, I forgot, we now have a bargain basement £9.6m drilling program which will blow the doors off...but where is Rathlin going to find £6.4m when the 2023 cash-burn was astronomic?
Yet another imaginary purchase from the two 🤡 🤡 fan club member. Don't you think this company is just another AIM SCAM as it sure looks that way to most on here? JMO Adyor!!!
Just bought another £500 worth.
W.N news any day now.
What chance of a huge dilution followed by a 200-1 consolidation to try to cover up their mismanagement?
We don't have the funds for future opportunities !
WN firewall? I would say unlikely & if there was we would.be looking at an eye watering loss.
Due within the next few days, Company results and posting of AGM with events tabled.
Would not be surprised to see a flurry of other meaningless RNS's with some 'hidden' nuggets regarding future opportunities posted around the same time to placate the weary patient investors.
Expect a fire sale dilution with regard to West Newton on the horizon!
S.C.A.M?
I agree, it's a major concern, the 2 crooks have squandered too much money on basket case gambles.
Their only chance is to press on with WN & hope for a quick sale. Failing that we're toaßt.
When you look at it their whole business plan is flawed.
Uggy, as I see it, if RBD has to fund Rathlin for £5m plus £1.6m for their 1/6 that only leaves about £2.5m cash.
How long would £2.5m last once they strip out their salaries and G&A...maybe 3 years?
How long until they monetise something? not within 3 year unless Rathlin pull off a miracle at WN
Itsawrap, I have been of the opinion for a long time that we would have to fund Rathlin I don't believe any other solution is out there especially in this ever worsening environment for O&XG UK.
Our 2 crooks have known this for some time & sums up their contempt for shareholders.
As for the £4mill, we'll that was just a carrot & an outright lie
Watts, the chuckle brothers talk a good game but rarely deliver...funding Rathlin has yet to happen so NSTA permission to drill expires next month...meanwhile, I'm still waiting for my share of the £4m they promised to return to shareholders
Wrap,
Who owns more that 60% of Rathlin? Their opinion that they are not responsible for funding WN should be shoved down their throats.
31.12.22 cash at bank of £3.6m (Rathlin 2022 accounts)
2023 spend on WN circa £1.8m (my estimate based on UJO's 2023 spend)
new plan costed at £9.6m by RBD
Rathlin needs £6.4m to fund their 4/6 of WN
Conclusion - Rathlin £5m short
UJO published their 2023 accounts today. They own 1/6 of WN which cost them £447k last year, that means Rathlin spent £2.682m on WN last year of which £1.788m was paid by Rathlin and £447k each by RBD & UJO.
This is a major drain on their cash, leaving them with under £1.5m imo. It begs the question how did they manage to spend £2.7m ? Cash-burn of this magnitude may be why we haven't seen a deal brokered...
I hope you're right, for all our sakes.
Grabbed around 10ks worth.
Just too cheap.
Quite simply the 2 slugs have to bo. Their performance has been shocking.
Another week goes by and the two fat cats or is it 🤡 🤡 's suck the life out of the shareholder's funds with no actual return for shareholders. Jessie and Frank James were mere amateurs it seems? JMO
If we did start WN I expect the SP to drop on the news.
WN should have been the sole focus for 2024 but the two sphincters had different ideas!
Doubt it Sjmon, u admire your fortitude !