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"Can someone explain to me like I'm twelve why this rns spikes the price by 11%?"
The management are showing that they are prepared to buy 99 million shares today at a price that is twice the current share price. Buyers see an opportunity.
Best to block ART, he's your typical mug punter who shot his load, lost it and now despises anyone who gains what he lost. A , sad, pathetic individual.
I'll have a go! Victorcobra
Ask yourself the question, why would someone pay 0.75 for 0.35 shares.
If they were selling 0.75 shares for 0.35 the feral on here would be shouting disaster.
Is 100% buying now. Fact. He has said so .
Can anyone explain how posters on these disastrous public BB get so sour. If you explained to someone outside of the investment world their posting habits and style they would think you were making it up.
ART123, can you explain why your are so fixated here ? Negative Post after post after post. Give it up man. The sp is rising because of the blatantly obvious reason. There will be more good news soon as well to take it further.
And don't forget that their farm-in partner at Mt Weld, Riversgold Limited, walked away from the project. That does not happen very often. And the boss of Riversgold is David Lenigas, who previously couldn't speak highly enough about Mr Karam. Something must have changed.
Can anyone explain to me why they would do a premium-priced placing on the same day that they issue the disastrous news that their 'number 1' well - TO-14 - has not flowed any oil at all, let alone commercial quantities?
Can someone explain to me like I'm twelve why this rns spikes the price by 11%?
"Maybe they are very bullish and would rather buy them from Jennings than see others buy them so cheaply?"
The Call Option from 29th Feb 2024 offered to buy the 99 million shares from Jennings at 1.2p per share. Today's Put option says that Jennings can sell these shares to EXT for 0.75p per share. It would appear that they are not as 'bullish' today as they were in February - in fact, they are 37.5% less bullish.
Some posters on here are pretty sour, imagine a management team and other large holders trying to implement measure to protect the share price. Unheard of on AIM for the FUD merchants used to shooting fish in a barrel with their shorts.
This latest RNS is excellent to see for holders, so by inference the FUD merchants are sour.
"Maybe EXT think that if Jennings sell the 99 million shares on the open market then it will crash the share price. If it does, then so be it."
Maybe they are very bullish and would rather buy them from Jennings than see others buy them so cheaply?
I know they have a lot of shares already and AK has just been involved in the fundraise. With all these things, you hope that the management has integrity.
Don't lose sight of exactly who EXT are. They are Mr Karam and one of his mates and nothing more.
"Mr Karam has a 45% interest in Extraction Srl, an Italian company, which in turn holds 100% of the issued shares of EPM, an English company. Mr Karam and Giovanni Colangelo are the directors of EPM, and Mr Colangelo is the sole director of Extraction Srl. Extraction Srl and EPM are investment companies that were formed in 2023 with a mandate to make investments across the natural resources sector."
Well 38m BUYS this morning and 1 small SELL .... so alot of punters seem to have confidence in this share .....
ART-you must have lost a fair wack to be so bitter?
The "Auto-exercise" on the Call option at 1.5p could well have activated if TO14 results were good. The share price got around those levels not so long ago.
I just read this that Ext are bullish. But if I am wrong and I stick around I will hopefully learn why I was wrong.
EXT do not need the shares. They - EXT - have just taken 100 million new shares in the placing. For some reason, they are pretending to dangle a carrot in the face of R Jennings which has the net effect of stopping Jennings from selling the 99 million shares. Maybe EXT think that if Jennings sell the 99 million shares on the open market then it will crash the share price. If it does, then so be it.
Why would they have bought the Call Option? There was no reason to do it until the share price was higher.
They now have dangled a carrot to get the same amount of shares for 0.75p instead of 1.2p.
EXT are not stupid. There will be an "auto-exercise" condition attached to this Put Option, which will basically mean that it is never going to happen, as with The Call Option. They (EXT) or CRCL management (if they exist beyond EXT which is very doubtful) just haven't bothered to attach the conditions to the RNS (which is very convenient and all part of this attempt to get the share price higher by whatever means, fair or foul.
AJMHO
'up to' being the same words that were used in the Call Option. They (EXT) didn't appear to buy any of the shares though. Not one. It is just a lot of nonsense to attempt to breathe some life into the fast-dying share price.
Well,there's a lot of buying going on atm.
The management must be scratching their heads trying to work out how to get the share price back up to previous levels. They are trying every trick in the book. What's next?
"to sell up to 99,000,000 ordinary shares of the Company to EXT"
UP TO being the words to focus on, he can get whet he likes up to 0.5p, happy days for buyers at this price.
I can guarantee that there is an "auto-exercise function" in this agreement which has not been disclosed. With the Call Option the deal would only "auto-exercise" when the share price reached a certain level for so many days and on specific volume. Without these conditions being met it was just a figure on paper.
There is no way that EXT will let this Put Option go through at that price without some conditions also and exactly what these are we do not know.
He already owns the 99 million shares.
He’s buying a few now in the market and no doubt the lemmings will follow and he can punt them out at a higher price.