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I have asked this before without getting a definitive answer...
Who at Ascent Resources (or parent company) actually makes the decision to appoint people like Andrew Dennan and James Parsons? Neither actually have any pedigree and apart from continually restructuring the finances of the business, they do not actually achieve anything!!
Look at the shambles Parsons left behind at Sound Energy. Look at the state of every AIM business he is involved in! Who actually decides that it is a good idea to employ these people? Investors are continually given a positive spin on things when in reality, the BOD's only real motivation is to keep the salaries coming in.
Without doubt, in any other sector people like these would just not be employed or would've been dismissed long ago.
Just what is happening in Slovenia?
Just what is happening with AST's Metals strategy?
These guys should be highlighted in the financial press because you really couldn't make it up what is going on here.
AIMHO
Yes they’ve also totally destroyed any chance of long tern holders getting their money back let alone make a profit .. and even after the 100/1 grad it’s fallen 25% from that price. It really begs the question why the company is still trading.. it certainly not for the benefit of the shareholders.. oh yes it still pay those salaries .. and for what? ….Imho
Most of the companies these characters are involved in are sicker than a ward full of covid patients. Share prices on the floor one is currently suspended. No real direction or consistent strategy, just flip flopping from one industry to the next Say's all you need to know about them. The only thing that is positive is the size of their part time salaries which are massive. They even pay themselves bonus for failure too ... you really couldn't make it up.......Shocking....IMHO
I have watched some of his Sound Energy interviews on YouTube and there is a lot of big words and waving hands around but when you really look into it, you can see there is no substance to anything Mr Parsons says.
He really sums up what AIM is all about... for anyone that disagrees - look how he has left Sound Energy and there is also Echo Energy/Coro Energy/Corcel... all the same as Ascent Resources. Virtually nothing achieved but spouting rubbish and the share price of them all speaks volumes!!!
It’s really scandalous how these character can continually get away with it!!!. They have been in charge for over 2 years and have done nothing but get a no win no fee legal firm to chase the proverbial Carrot. The 2 so call executive a both drawn in excess of £350 k each FOR SO CALLED PART TIME ROLLS. ( more than the PM of the UK) they have also got a few mates in from the directors pool of failures to join in the fun! This really gives the AIM a terrible name and needs investigating by the authorities. They not only doing it here look at others like .. Echo, Coro and Corcel plc to name but a few ! IMHO
The share price reacts accordingly...
Same nonsense, different day! .. what are they all doing for their expensive salaries/fees ?
Parsons & Dennan....
Chancer & joker has the same meaning!!
Only in AIM sector would they have credibility ....say no more!!
A phone call...only with my Legal Representative present!!!
It's the PARSONS effect...IMHO
I think we all know the answers to everyone of these! and none of them are positive!
I wonder if we could have an update on...
The ongoing stuck tool that was scheduled to be removed from a well months ago.
AST's metal strategy that they have been working on for 2 years.
The role of Malcolm Graeme Wood
The role of any of the Directors.
Why such a large Board of Directors when they work on a part time basis.
A comment on overseeing a 90% fall in share performance.
Why do AST have so many Accountants instead of technical people considering the nature of business.
Why are the BOD's salaries so extremely high considering the limited income of the company.
The ongoing reassuredness that the BOD are acting in the interests of investors.
Anything guys...us long term holders just want our investment back and to move on. I personally accept that in my opinion I have been misled from day 1. Just what is happening...
You contact the company as I did 2 years ago & are offered a phone conversation...to discuss what exactly? These guys are very good at constantly refuelling a vehicle on a road to nowhere to suit themselves!
They are doing everything in their power!!!
I emailed AST the other day about this and got a very curt though rapid reply..
"Many thanks for your email and support.
As you rightly point out, in the RNS of 30 May the Company announced that the arbitration hearing was now in mid-June. The result of which is expected to be known shortly and further announcements will be made at the appropriate time."
Any ideas how it went with the geo energy? Strange no RNS
As you say the current Executive team are bottom feeders and must be really proud of their achievements to date with in the world of the AIM .......failure after failure.. Money is not everything to most, but to others it is!!! I'll leave to you to decide where these guys sit.. all IMHO
The shocking performance of the current BOD continues. I accept that certain legal proceedings are beyond their control but what exactly is happening with AST Metals strategy???
AIM the world of overpayment and underperformance!!No wonder James Parsons and Andrew Dennan tend to specialise in it!!
Move on guys and get somebody in who genuinely wants to reward shareholders instead of themselves!! Any publicity would embarass the pair of you!!
In my opinion this company continues to be abused by specialists who border on legal corruption!!! If in doubt, check out any other business they are invested in!
The case against GeoEnergo was heard last week.
The case against Slovenia is separate and still proceeding.
DYOR
Case against slovinia started if so when does it conclude ?
The share price is actually level for the day as the price is showing an uncrossed trade of 3.11. However this trade was for only one share which some claim is that a RNS is imminent
I wonder what news will come this week. 2 day arbitration meeting due.
Shows what a joke these directors are can’t even get the AGM to function properly… having to delay the important stuff to a later date ….Hmm I wonder why ….it’s no wonder this company has done nothing in nearly 3 year apart from pay excessive salaries to a bunch of AIM failures ..IMHO
Thats fair comment. Out of the frying pan and all that.
Think AST need to both win the upcoming court case and demonstrate to amur holders that their ESG Metals project pipeline in LATAM is actually worth being a part of.
"Ascent's vision is that Ascent and Amur would combine to form a larger, well funded and more liquid, entity combining Amur's cash (post the recently announced asset sale and subsequent dividend) with Ascent's ESG Metals project pipeline in LATAM, which typically have low geological risk and near term and sustainable cashflow"
So that funds can be distributed to the shareholders.
The choice is find a deal or get suspended or wind up and distribute funds.
If it just sits and does nothing, the running costs will burn through the cash pretty quickly. Failed attempted deals are pretty expensive and it will be delisted.
Doing a quick deal that is available with AST probably looks fairly attractive but the Amur directors will need to jump through hoops so they can say that the looked at alternatives and this is the best course of action.
DYOR
Cost of the transaction to wind up Amur and distribute funds.
Agreed would be a good deal for AST and with the two day arbitration hearing coming in the next week where we could be awarded 3 million + looking good for a rise
Unsure AST holders have much to fear. New board would be mainly AST and really they're only after AMC's cash.
Its just a $5M USD placing for holders here at 6.1p/share.
"On the assumption that Amur only has assets of $5,000,000 in cash (post payment of dividend) and no further material liabilities, the indicative proposal is equivalent to a gross equity valuation of 6.1 pence per new Ascent share"
Not a bad deal imo.. for AST holders