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Well they are certainly not in a hurry with the testing ... and the funds from MAMBARE ... what's happening ...anyone out there with answers ...
They say "no news is usually good news" but we know that is not the case here. Comms have been diabolical and where we have had updates we've been left guessing. Ak will almost certainly be getting update from the site and whilst Sononagol are the operator a "testing is ongoing" RNS would settle some nerves, the silence is far from professional.
Got to be an update soon. Never know, maybe a nice welcome surprise. Stranger things happen. Gl all
I wish the new BOD hadn't been so enthusiastic and efficient with their initial communications now, as they set our expectations very high. This silence feels so much worse now.
I just have to remind myself of the old BOD and then everything seems no different to the last several years.
But no bad news so thats a positive.....just be nice to have some news.
GLA... cant be long now surely.......
I think the Penny is starting to drop for some here now.
What have the board delivered? Getting an investor to put money in at double the SP should mean all the pumpers here are piling in, but they are not.
Look back at the last 5 years and see what’s been achieved - clue it’s not much at all
Ggekko. You make a very good point about too much enthusiasm at the outset. Especially AK's reference to this company becoming a " unicorn". I made this point on Telegram several months ago.
However I really cannot see how AK / Extract could make a deal with RJ to buy all his shares at 0.76p last month whilst the sp was still as it us now unless they are absolutely certain it will go considerably higher. In addition Geraldine has bought £200000 's worth at 0.5p in recent placing which is roughly 60% premium to current price. There has to be good news coming out somewhere or these transactions wouldn't have taken place. I did think when Extract bought more shares taking their holding to 29% then they were getting ready to pounce on a takeover. I for one would now welcome that. I'm sure most here would make some kind of profit since I think the takeover price would be roughly minimum of 1.3p which was the price it hit several months ago during that period of enthusiasm you mentioned. We can then have the cash for new ventures. In the meantime I'm neither selling nor buying more but if I had more cash I would be buying since I believe the above scenario is a strong possibility.
You have hit the nail on the head SJ. The flow tests are undoubtedly the main event however one must keep one eye on that EXT holding. Why would a company co owned by the Chairman pay a 100% premium for 30% of the business. I would love to hear everyone views, including Snipers!
Dan
I too would like everyone's views on this.
EXT must believe that we have a future unless they enjoy wasting money!
Scott Gilbert, co-founder and vendor of APEX in Angola joining the Executive Board is also interesting. They see a future here I hope.
They withdrew the £8m funding convertibles at 0.8p which is interesting. They are close to that 30% now. Can EXT easily afford to buy us at 8p+ though?
30% is enough to make me think they don't plan to dilute shareholders for their wages and forget their token shareholding. Some AIM BOD sadly do!
Human psychology is always a factor. What is the probability that the BOD isn't truly accepting the reality of the drill and has been paying over the odds?
(I'm holding).
@ Dan
I know what you mean, but honestly, does it not strike you as slightly odd that a company directly linked to AL is willing to prop the company up at a significant premium? Why would they?
It’s like having access to a staff discount card as a CEO but instead of using it (buying shares from the market, at the current SP) saying you’d like to pay double the price, regular customers are paying.
If the market believed this company was destined for great things, every time they released these RNS’s with more funding at a premium, you’d expect the MMs to react accordingly, but they don’t.
To this day, the company is doing exactly what SK and JP did for many years whilst they took a very healthy salary. What have Corcel delivered for shareholders? (Remove the finding at a premium news stories)
What if the BOD has found a great deal in Brazil that they know is a company maker?
Wishful thinking perhaps.
The AIM/Junior main markets are dead Sniper, volumes are low and the MM still have to make a profit. I've been around for 18 years and I've never seen conditions and sentiment as bad, this is not a place for investment. What we have is a handful of punters who are happy to take 10% to cover their Friday fish and chips, very few, if any are valued at their worth so taking about what the MM are doing isn't a great barometer.
As for what the company has achieved, sod all. I only came on board in November and there wasn't was getting involved with SK running the show, mentored but the infamous Andrew Bell. It's time to let the new board have a shot, they've had long and they've already steadied the ship. The drill has been a shower, I won't defend that.
Take 2!
The AIM/Junior main markets are dead Sniper, volumes are low and the MM still have to make a profit. I've been around for 18 years and I've never seen conditions and sentiment as bad, this is not a place for investment. What we have is a handful of punters who are happy to take 10% to cover their Friday fish and chips, very few, if any are valued at their worth so taking about what the MM are doing isn't a great barometer.
As for what the company has achieved, sod all. I only came on board in November and there wasn't a chance I was getting involved with SK running the show, mentored but the infamous Andrew Bell. It's time to let the new board have a shot, they've not had long and they've already steadied the ship. The drill has been a shower, I won't defend that.
Lse they might know something, hence the heavy investing at higher prices. But it just seems abit off to me. Ofcourse that’s my cynical mind and it may all turn out well, but it seems abit ‘obvious’
Dan fair enough! I can’t argue with that. But as I keep saying, it does seem too obvious to keep sending out RNS of achieving funding at premium prices, when they then slip in a few not so good news releases (like the latest drill)
You say most on here are playing for supper money, but one poster claimed to have the value of a very nice detached house in the company. Fine if you can afford to lose it, but I know from my own frustrations previously that this all seems like Groundhog Day. Each to their own, maybe they will prove me wrong and they are sitting on something very lucrative.
Cheers Sniper, good to get your thoughts. Believe me I would not be holding this had Ext not taken that PUT agreement. This drill is now a pure punt but when you see those on the right side of the fence paying a hefty premium it's hard to ignore. I'm sure it will all come out in the wash. ATB.
Yes I agree, it seems like a no brainer because of the financing deals they have achieved, but that’s what makes me dubious!
The fear to me is that the bold purchases are proudly ignorant of the reality.
"I put this board together and we will have a wonderful Unicorn future!"
Morning Siennaj - I think we are in the same mindset which is reassuring for me. I am holding on for 1.2p before I allow myself to start offloading as I have a couple of investments I want to get in on but no funds to do it..... fingers crossed I don't miss the boat. :^)
I firmly believe (even if that is guided by desperate hope) that something significant will happen this year ..... could be good or bad.... but something nevertheless.
I am already preparing myself for no production this year based on the delays but would love to be wrong of course.I Will continue to keep the faith regardless of how blind that faith is .
GLA
Ggekko. Same. I wish to delve into other shares since I've learnt so much with this share but there's a couple of bombed out companies like Sar and Val that I once owned and would like to get back into because they are just about still "alive". And there's a number of holders here who bought into Corcel as a bombed out company at 0.2p. Unfortunately we are nearly back to that.
I'm no expert but I think if this company went private Extract would have to at least match what they gave RJ which I think was 0.76p per share. Im hoping for something like that soon and move on. Its noteworthy that there are more comments so far today on this board than Telegram which has only 1 post so far today. I think shareholders are simply getting fed up of waiting and disappointed after such a promising start to the year.
All the best to all shareholders!
Why is it taking so long for results ... something a miss ... who knows next week ...might bring a bit of good news...
We don't know when it started Rocklawn or if it's even started. Comms have been diabolical and I wouldn't be surprised if the RNS to say "delays with Nitrogen". We could be a week in, we could be 4 weeks in, we just don't know.
On which companies share you want to invest with?