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DS AKA Gunslinger !
"The idea that simply because Forum hold shares at 0.5p there would be support or a floor at that level has been shown to be without foundation."
I agree with you 100% if there has ever been anyone who thought that there would be support at 0.5p then it was very foolish of them.
As I have said repeatedly this is a gamble based on the fact that forum have spent £500,000 on acquiring a shell at an average price of 0.5p. Whatever asset they reverse into this (and we do not know what it will be) we can assume that they have a plan to get the share price to may multiples of 0.5p in order t make a profit on their investment.
My take on this is very simple. If you can get in at a price of lower than 0.5p then you are guaranteed to make money as Forum will ensure that they do and you will have a better buy-in price than Forum. However, I think that anything up to 1p will still multibag once assets are put in.
Crusty. I have dry powder waiting for .2 or below .
Petroleum
NAAOG is UK registered company on AIM so assume don't need to operate in Congo to leverage it - also £60m of the tax loss comes from the Forum owned Saltfleetby asset , UK gas field and UK registered company.
Looking at NED cvs , it could be a battery metals play in Africa however, so you could be right.
Crusty
Fair point on SP , but it was at 0.12p is another way to look at it!
Either way, SP down here is irrelevant at the moment or any conclusions either way to be drawn from it - we wait on material news of Forums plans - then we shall see.
"This will go up and down on the slightest breeze until concrete news....."
Or more accurately "this will go down and down on the slightest breeze until concrete news...."
Nothing holding it up without news, I think? The idea that simply because Forum hold shares at 0.5p there would be support or a floor at that level has been shown to be without foundation. Indeed the sp was at 0.15p even after Forum had bought their shares so that didn't provide any support then or now.
So, without news there is likely to be continued drift in my view. That is disappointing, of course, but realistic methinks. I will be keeping my powder dry for the next top up.
Tiburn
These tax losses are applicable to Congo and therefore they must run a business within Congo
that will generate turnover that will benefit from these tax losses. So perhaps they are negotiating with
the government on this business type and scope. Is that right?
This will go up and down on the slightest breeze until concrete news and direction of travel is confirmed by Forum.
There is nothing to "ramp" about.
This is a shell with some potential prospects established by some doing some background research - and nothing else.
The facts are Forum has some links to PXP Energy and Gazprom through past ownerships and staff, the shell has £90m in tax loss to leverage and it is assumed this will entail a reasonable scale of venture to make this worthwhile for the silent (as yet) backers. The future RTO target news could literally arrive any day.