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I don't blame them for raising more cash if the company needs it BUT MB was blatantly LYING when he strongly asserted that they were fully funded through to Heron production & V1 drill. That lie has been repeated on here ad nauseam by the paid rampers & some deluded fools. This new raise may not even be enough so I wouldn't be surprised if there was another if/when the SP rises. Meanwhile the board continue to enjoy their salaries for doing SFA - laughing all the way to the bank.
Shot an Owl before?
Could you please top up for about 4 million then the sp will not drop?
*Objective, Unemotional Analysis & Why I Will Be Topping Up Hard*
Firstly lets get all the emotional stuff out of the way, as it's totally useless in making objective investment decisions.
People may not like the Placing price / the fact that there's a Placing at all / Mike Buck's apparent duplicity etc
Great, get if off your chests, sell out if you want & let's look at the investment and why the Placing was needed NOW.
- We all want the LP to be issued asap but timeframes aren't exact for that. I'm confident it WILL be issued and certain factors give me no concerns at all on that front. Others are free to their own concerns of course but for me its issuance if not specific timing, is a given.
The additional funding required now is obvious when reading into the details provided.
- The GoM is issuing 14 new licences that MATD will be looking at with the associated bidding / PSC costs.
Imporyantly, I don't think they would be doing that without DQE on board and looking at the relevant statement, the deal seems to be structured and awaiting the final agreement by DQE themselves (Dec 5th update). I think that's a given now with the rapid expansion land grab for licences.
- The new JV company setup with Woolfson would necessitate a capital inflow but at the same time, provide diversification & entry into a potentially massive energy sector. The economic viability for profitability would have been looked into by specialists in the space and beyond 'chat board experts'.
Velociraptor drilling which although technically a Wildcat is as MB stated "a wildcat with better than wildcat probability chance of success" - it's part of a known oil bearing formation.
We have the talk of MB misleading investors with talk of a comfortable cash position and all the rest. Well the hard reality is that the 3 month issuance period is more flexible than anyone would like and certainty in operations is key at this point, hence the fundraise to progress the other initiatives.
I'm really not bothered too much about the price. I expect any share price drop will be very transient & be heavily bought into.
We have the pre AGM update coming up outlining a highly aggressive & exciting growth strategy for the company as well as feeding into the official DQE deal, near term Velociraptor drill & eventually dare I say it the LP
How long do we really think the SP hangs around any depressed level from the fundraise from that perspective?
Personally I'm really pleased about the company strategy going forward and especially the cost mitigation & accelerated growth component that DQE would provide.
The actual funding itswlf is relatively limited from the context of growth opportunity provided and whether or not MB is a 'greedy so & so' or whatever else doesnt register on my radar.
I look at investments in a cold, non emotional way and will personally be taking the opportunity to stack my own holding of MATD stock as much as possible b
And Mike Buck, who pays himself 200k a year from placing shares, is effectively reinvesting 25k$ of this shareholder money...... Might have a look here in 3 weeks if I see good value, looking like Heron will be delayed for a long time if raising money now.
So dilution nearer to 15% on current MCap
So MB stating minimum of 4 millions another way of saying we are actually raising 6 million dollars .
So on overnight reflection . Share Dilution based on current market cap is less than 10% so not so bad.
Some positive operational updates included in last night's RNS . Mainly funding for velicraptor drill maybe going it alone which would be a bonus .
Maybe we won't see this going any where near 2.5 with retail offer very likely to be over subscribed
Nevermind, glitchy ass site wasn't showing today's posts, sorted now ??
I posted this morning it's vanished? Did someone not like what I said?
Why people think all share from any fundraising need to be sold?
Do not think this when people talk of overhang and other thing like this. Do not think big holder petrovus is like little trader on BB doing quick thing lol
They will be holding the big one tightly sir
Good morning :)
Is beautiful day & we all still alive so celebrate & be happy for this :)
Update coming and all holder will be smiling very soon
I buy more and happy for this & will see who really make big money and think it is all who have hold in MATD ;)
MB always gets stung on fund raising price. 2.5p is a bit of a shocker, so with this raise taking into account Petrovis buying a quarter of the placing stock, and assuming the 500k investor subscription is taken up we are looking at an overhang between 110-130 million shares to clear. with Velociraptor likely to be spudded Q2 I think adding consistantly at the placing price (and for me averaging down) in the hope the churn is over before the pre spud rise
Doc just said something that did make me think, If LP was close surely they'd wait to announce that first, then do the raise as it'd go down much better if matd had a tangible reason to be raising more capital and diluting this even further?
I suppose we won't hear anything now till AGM where we'll just get more excuses for delays and such, but I refuse to sell at a loss so I'm here for the long haul.
Patience is the virtue and all that
CJ
In my book this is not a fund raiser but merely a top up. Probably from the LP being delayed by a month or two more than MB calculated but yes i think it means more fields to explore soon plus Velociraptor will happen as soon as practically possible. 20m shares to get 500k is a top up not a fund raise which very possibly what the market feared and that is why SP went up a bit.
iamrich: “ Hold or buy more, velociraptor is on its way, LP is anyday,”
I’ve been out all night and come back to read the same old garbage from iamrich. “LP is anyday”, lol.
If LP was due anytime soon they wouldn’t be doing a raise now. They’d wait till after. End of.
I’ve not read all the comments since the RNS so apologies if this has already been discussed but it sounds like we’ve been successful in being awarded further blocks for exploration.
I’m glad there is enthusiasm for participation in the fundraise, it should put the company on a solid footing for a big year ahead. Wish I had the funds to participate but alas I’ll just have to wait it out……again!
Good luck to you all.
Spot on BigBench, totally agree with all of that.
There are a lot of variables which are unknown to us at the moment… if MB needed to secure funds he had to secure funds, lots of maybes here… maybe the JV is taking longer than planned so he wants the first drill to be ours alone so no hold ups… maybe he wanted the MG to see we were funded before securing new licenses…. Maybe the placing will be heavily over subscribed (I think it will) ….maybe MB has lost the plot who knows…. All we do know for sure is the oil is there and we need to get it out by hook or by crook ASAP… we can’t waste another year!
Hold or buy more, velociraptor is on its way, LP is anyday,
Something has changed business wise from December 6th to now for this fund raise,can only be more funds needed for the amount of work that is to be performed in the near future ,
Same here Lockie, many a time I have said no more! Ha
So much news is potentially just on the horizon now though, and things are finally in motion after 2 years of lockdowns etc.
My average is 4.7p so it is very tempting. Only thing is my ISA account is full for the year though!
We'll see how it goes tomorrow.
Blue,
Yes very tempted myself though I've said for a long time I won't be investing more, however 2.5p is in my opinion a no brainer. Great op to bring average down for me as well.
Very tempted. I have just over 2m shares at the moment so I'm already heavily invested, but I would love to take advantage of the raise price tomorrow. A lower average SP for a potentially huge reward is always tempting though.
Tomorrow will be "interesting" either way ...... fingers crossed.
GLA
Who's buying in/topping up at 2.5p then ?