Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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I'm 100% confident production will improve as soon as the company has been robbed from us.
Goodbye Maple, dont blame you, we were never going to recoup our loses. Think i will stick around for the end game what ever that might be! Gut feeling is they will continue to issue bad news and buy us out next year .Have enjoyed your posts over the years ,knowing others in the same boat as me has helped the pain. Good luck to you and Plymouth Arglye
I sold yesterday for 96p.
Lost my shirt, but finally had enough.
Not coming back here ever.
Farewell
No reason for the SP drop, some large buys in today in any case wonder who's buying such large amounts in this "ill fated company"?
They probably drove into the collapsed wall with a dump truck deliberately knocking it down.
They don't want to pay £1.00 so they are going to announce only the bad news and finally when the share price is in the 0.3's and 0.4's they can offer to buy at 0.7 or 0.8 and it will look like they are doing us all a favour. This game is fixed.
I start to fill nostalgic for the 5 to 7 pence we were , maybe is were they are taking us.
This morning is better, we got a proper reason for the down and a consistent & proper reason for it. Soon we are going to end up with nothing left, after all the scramble we were at 2.70 Pound, now 87.50 pence, next???????
Glad l bailed out early 90s, down thousands, hope the owners lose millions like the PIs have
Don't you realise that they are taking us for a ride, down in the morning, evening back as they were, every days is the same.
The opening offer was £1 but hasnt been agreed yet has it. £2 would show me a slight profit OK ???
I wish I had the money to bid 1.1 pounds. Just to kick these thieves in the jewels.
How do you get £2.00 when the buy out is £1.00? I bet the independent review of the company will push the offer down to £0.80.
Still here waiting for my £2 offer
Has everyone passed out whilst holding their breath?
Completely agree with the sentiment here. This is an out and out setup job for us regular PIs, just as always seems to happen on AIM.
There has been a slight delay in getting ore out of the ground this year, which having now negotiated a nice drop in costs, can be extracted once in private hands at a far, far higher price of gold, lower cost, and superior margin per oz. We've all been completely shafted at £1, which makes it all the more incredulous when I see people bailing at the early 80s or even 79p!
Within a month or a quarter? Has there been any update? Can't find anything. Thanks
Even with a 15% gain i would have to invest about £30k to just get my money back, so that is not happening!. If it was possible for some of us to block this offer i would be up for that ,but i somehow doubt that is an option.
I wouldn’t trust anything that happens here. Of course the owners can afford to bail it out, they’ve got all the money.
It’s us poor saps here that don’t and will lose out. If this was a horse they would’ve shot it a long time ago.
Hi MikG!
Perhaps you're right that the risk isn't all that high, and that there is an easy 15% to be made here.
To be honest, I'm just so revolted by MNG's antics that I don't want to touch this POS. A lot of good people have been cheated out of money here. This was one heck of a scam.
Re the posters who’ve said buying in the low 80s for the £1 offer is too much risk.. what are the risks exactly?
- As far as I can see, people seem to think Mr MNG might pull out and leave it on the “verge of bankruptcy”. If he does pull out and this goes bellies up, what do you think happens to the (hundreds) of millions he has piled into this share via acquisition cost and personal guarantees with the secured creditors? It all goes down the swanny, the entire investment is lost. He is personal guarantor for all loans and borrowings that are not RPTs- therefore any firesale receipts from sale of assets would go towards payments of those first, leaving Mr MNG on the hook for any excesses through his personal guarantor status. Why write off his investment so soon after initiating all the cost cutting processes and signing new contracts this year.
- Lower bid. The bid cannot be revised lower - you think the 13% investor base that have (presumably reluctantly) agreed to take £1 would accept somehow even less, with the POG soaring and £1 representing such a discount to NAV. Also, what about all the new contracting agreements just signed - again, another sign that the family owning 70% are not prepared to let their vast investment go down the swanny.
- Raising the funds - should not be difficult for a billionaire.
I can sympathise with the case of not buying, even though I think it’s nigh on as low risk as you’ll find at this end of the market. But selling at 20% discount to the takeover price .. pure insanity IMO.
in a way i'm glad this is finally coming to a head.been in here far too many years and for what,problem after problem and continual eroding of the sp despite now what should be a good time for us re pog.i wouldn't put another penny in here re buying at 87p and waiting for the formal offer of £1 as something could always go wrong and with this share that is more than likely.whatever the outcome i, like a lot of others on here will be losing a lot of money.
I read somewhere that 13% of shareholders have accepted to £1 offer. Dont know who they are and it didnt say. I have a few junior gold miners in my portfolio but none are responding to the increase in the pog. It appears the big money is flowing into ETFs so my thinking now is if youre going to buy shares in individual Co's it needs to be represented in one of those. The problem is many are US listed so then you have the poor exchange rate into dollars to consider.
I have long held the view that a Mr MNG buy out was on the cards ,even if some thought i was talking nonsense(Cavendish)
Although i am taking a heavy loss (been in since the days of Aureus) i will be glad to see the end game as this mine has gone from one disaster to another.Agree with you Tiger about Liberia, this country could find itself in another civil war soon but with the price of gold over 1500 and rising, Mr MNG offer of a £1 seems low.
I can see why people are posting that there is a solid gain to be made by buying Avesoro at about 87p now and waiting for a formal offer at 1 pound to be accepted and formalised. I've looked at it and thought about it.
But it's too risky for me. Avesoro are all but bust if the offer doesn't complete. What if MNG withdraws his bid? That's a lot of downside for only a small gain. Who trusts MNG anyway? And who believes that doing any kind of business in Burkino Faso (Islamic insurgency) or Liberia (total corruption) is likely to work out long term? And isn't there more money to be made right now on investing in a well-managed gold miner in a safe jurisdiction?
So, even though I'm a gold bull, I'll take a pass here.