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I am not impressed with this latest radio silence - the RNS on Friday night, sneaked out after hours was awful for the SP and now silence is not a good luck.
Feel like we are getting more info from other companies / unoffical routes which keep showing to be accurate.
Need DB to step up and say what the hell is going on and how the placing and the Humber situation will play out - until then, we are going to be at the will of the market manipulators.
Feel UJO are too small for so many massive projects - tjhey need a lot of money and we are not in the driving seat - WN feels like a disconnect in the partners - RBD did a placing for £16m - surely they should have told UJO "we are doing a placing for £16m - when we get the cash, we want to crack on with the development of WN" - the story that 'suddenly' RBD have said 'right, lets go' and UJO seem to be playing catch up.......
The only thing you can say is that DB has had his hand forced. First that Brokerman Dan character leaking news on volumetrics and then someone else leaking the placing. Certain people have been working against DB and against the average PI who has been shafted.
Bronzy I like your optimistic spin but it clearly comes from someone who has funds to top up. For people that were already fully invested this is bad pure and simple. The funding should have been raised at something like 0.23 after releasing volumetrics. As CP52 says managment were slow if they knew they had to raise now.
CP52 - if all AIM companies went up in a straight line we would all be rich. This is a blip and anyone who has followed UJO a while will give the company time to put things right.
Fairview, its not really a disaster, just a blip in the road, have you seen lee's post on twitter. all will come good for ujo and SP will be worth multiple of current price. Top up is the key
That's right gkb47. It made sense to hold out on funding until the Wressle result and news on the restart of the EWT. Then you get all these people coming on here saying a placing now was obvious. It wasn't obvious and frankly it doesn't make sense. I hope DB had his hand forced to raise money sooner because otherwise it makes you think that he is not looking out for shareholders. Either way it's bad for UJO because the sp has been forced down so that means more dilution. A real disaster for LTHs.
FWIW - and this is pure supposition - I believe someone is forcing DB’s hand. Probably making a lay for UJO’s share of licence at a lower price point than it will be when WN is proved up.
DB wants to find the best deal for UJO and shareholders and wants to hold out for a better deal once EWT is complete and CPR issued.
Whoever is applying the pressure has led to DB seeking the additional funding to follow RBD through to the next stages (production?)
It stinks of someone trying to squeeze the licence from UJO on the cheap. Same likely to be happening to Humber. The raise by RBD has maybe given them the confidence to seek 100% ownership of WN?
DYOR.
As I say, may be a mile wide of the mark.
Could someone buy UJO share of WN for the current market value of the whole company? Maybe?
DB holding out for a better deal?
On the one hand you have people saying a placing is coming and on the other hand you have DB saying that their cash position is fine at the moment. I like to think that DB was under pressure from Rathlin and Reabold to demonstrate that UJO had money for the WN work program next year. Obviously whoever leaked that a placing was being worked on has done great damage to the sp too. It would have been far better to get an RNS out of the blue saying the money had been raised than all this uncertainty.
But they need funds
No spike 501 not over exposed. Like I said,
Well having slept on things. Given how far UJO assets have advanced I feel it would be morally and ethically wrong and financially unsound for UJO to proceed with a placing under the circumstances as it would materially under value the company at this point. imo I know what a world. It is what it is. Very corrupt LOL.