George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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You don’t get farm out the way Peter Hill is running the company
Any placing more than £400 K will dilute 50% or more
You get good discounts or bust
Top faller this on 27/10/23 down 37% now 0.075p.
11 months on since last look and post "In hindsight the decision to by more at the placing price of 0.35p 31/8/22 looks wise today" .
Not so wise looking today .
Yet more AIM rubbish .
Peter Hill, Global Petroleum's CEO, commented:
/*
"We are very pleased to have raised further capital, enabling us to continue progress with our exploration activities on PEL0094, and also providing the Company with optionality through this exciting period for Namibian offshore exploration. We are also very happy to welcome new shareholders to the Company. We look forward to providing further updates in due course."
*/
Each year, funds are raised to provide the directors with a substantial salary.
Peter Hill, Global Petroleum's CEO, commented:
/*
We are very pleased to have raised capital, enabling us to progress further our exploration activities and farmout process on PEL 94 as well as to assist optionality generally. The recent discoveries by Shell and TotalEnergies have transformed the outlook for Namibia's oil and gas sector, and significantly enhanced the prospectivity of our licence.
*/
What did this money go. To pay salaries to directors?
Just wondering what the larger shareholders think about this. Time for PH to leave now as he's had long enough with no success or value to shareholders. Being paid 250k a year for producing nothing.
These lot don't deserve a salary for the years they have bled the company. They have no shame and if they raise money, they will take the deferred salary payment. PH has to be removed for once and all - but won't cos no-one will do anything about. Sorry for the rant!!
Yes and iamrich
I would rather put my money in RRR and TRP lots going on and low MC
The company is in a bind. Time is running out...
I remember him pumping this one a lot, obviously no sign of him now
If you lost out here look at kodal NOW! Do not waste another second
Probably insignificant in the overall picture but this was a no from me after they kept up the interest in the Italian prospects after the Italian Government banned drilling. Just looked like either desperation or a subject to promote false hope.
Was a shareholder a few years ago
Peter Hill etc Al have fleeced this company to fund his private needs , imo
Always the same jam tomorrow rhetoric .... !!
Maybe some of the rampers at .7p would like to explain why this hasn’t reached the 5 gbp they ramped .
An apology maybe or admission they were wrong and others like myself may have been right all along …., oh hang on , they’ve moved to the next one 🙄
Now I know why there was a large sell of £10000 at over 11 yesterday as somebody obviously in the know and the whole thing rotten
Have been in this years when the company had over 15 million in the bank and no debt
Massive mistake holding but kept hoping but now extinguished
I will never understand why these companies don’t raise say 3 years of funds when sentiment is sky high
They could have easily raised a few million when the shell drill hit but now we are looking at derisory levels
LOL what? It's worth 1m, they have no cash and unless they raise money they'll lose their licences. Why would anyone buy this when it will be bust by the end of November and then you get the licences anyway
I don't hold and haven't for a few years, but the problem with this, and all companies, is that they treat their shareholders badly, especially when it comes to raising funds. The current practice of using brokers, and forward selling, and only allowing certain people to raise money from, thus diluting and undercutting regular shareholder's holdings has destroyed confidence in the entire market, and now everyone's a loser because the practice has caused death spirals throughout the market. No one wants to own shares anymore as it's not a healthy investment. The private traders I know trade commodities and currencies now as they see that as less risk. And that really speaks volumes about the situation.
This company had 16m in cash at one point. The directors kept saying they were looking at projects whilst all the time overpaying themselves. Probably the most disgraceful company I have ever come across on AIM. I traded this in 2009 to 2010. Realised back then that the directors were very very poor to say the least! Where did all the money go.
This could be extremely ripe for a big oil company to buy.
?
Very prophetic Legache -
At the Company's request, the Namibian authorities have extended the deadline for Global to provide the work programme guarantee required under the Licence renewal until the end of November 2023. Absent further extensions/deferrals, the Company requires significant additional funding in order to meet its Licence and other payments due in the near future, for which the Company does not currently have sufficient cash resources.
Ive just sold..... time to move on, this is only heading one way unfortunately. i can hear the death knell now.
/*the urgent priority for the Company is to strengthen its finances in the very near future*/ thereby enabling the directors to resume receiving their salaries and potentially higher compensations. This pressing need necessitates the removal of the current group of unscrupulous individuals. A new board is urgently required.
Account make terrible reading. Surly the end of GBP.
I have held here in very large quantities in the past and it looked like they may get something over the line a year or two ago. Now, surly, they're toast.
I still hold a chuck sadly.