Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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just before the AGM . . . interesting
Still amazed at how low the Mcap is and shares in issue. Bought in here today in anticipation for the AGM.
quietly building holdings up. Ride the wave, imho....
that would be Leon Hagan increasing his stake!
Someones buying in 25K chunks
-11% volatile eh?
no surprises tbh. Fully expect another day of the same tomorrow.
This deposit repayment from a gas contract made in 2013 I think has gone completely unnoticed by the market. As per interim results this £485k incoming plus £540k in cash means £1.025M cash take off say a conservative £200k cash burn in the past 5 months (i think its much less than this now due to directors being paid in shares) gives £825k cash in the kitty vs £450k MC, no debt, and a new focus on fintech investments as of 3rd of march if voted through. Thats all completely ignoring the £560k they have in O&G investments... you can chuck these in for free. Could be potentially quite an exciting period coming IMO.
Interim results here have some pretty important and material information hidden in them If you read section 7 for receivables: "On 10 January 2013, the Group entered into a contract to purchase 20,000 cubic meters of Gasoil at a price of US$775 per cubic meter. On entering the contract the Group paid a refundable deposit of £499,900. If the Group chooses not to perform on the contract, the deposit will be refunded. The contractor, at their sole discretion, has the right to impose a 2.25% fee for any amounts refunded for non-performance" So that's £485k net cash to be received if they opt out of this contract. Then go to section 12 "The Company on December 3rd notified its intent not to perform on the Gasoil contract and has requested to be refunded the amount owing. These funds will be received in early January 2016." So according to this MMO should now have around £1M in cash, £500k in assets, liabilities I get down to around £100k as were paid in October using equity... MC of £400k and as of 3rd march look to be going in to Fintech investments... To me this is very materially significant for the company that £500k cash payment incoming so I wonder why not RNS? The fact that directors are being paid now in shares at a nice premium is also encouraging.
http://www.mercomoil.com/Mercom_Oil_Sands_PLC_-AGM_Circular.pdf Resolution 1 to be proposed at the AGM seeks to amend the Investing Policy by extending the policy to enable the Directors, in addition to making investments in the natural resources and energy sectors (with a focus on oil and gas), to make investments in the financial services and financial services technology (Fintech) sectors, these being sectors in which the Board considers it has sufficient experience Fintech very hot sector. With MMO £500k in cash and £500k in an investment this could start moving bigtime IMO.
Change of name and investment policy it seems http://www.investegate.co.uk/mercom-oil-sands-plc--mmo-/rns/notice-of-agm/201602081750024386O/
Thank you for your response HH100. I notice that Lion Natural Resources have since published the absolute minimum of information, abbreviated accounts, to prevent the striking off. I had sold out anyway, and I'm glad I did, as a resource company run by a Mexican banker whose registered address is in Switzerland sounds a bit iffy to me. The accounts, such as they are, show net assets of £400,000, including £260,000 cash, which would appear to put a total value on the actual assets which MMO invested in at approximately £140,000. That makes their £400,000 initial investment for a 30% stake look a very poor one to me. This sort of wildly speculative junk is not for me I'm afraid, and this was my first, and last, investment of this type, but thanks again for the reply.
Lion's accounts were due to be filed by 31st. August 2015, so are just over four and a half months late. That's about half the period that uber successful global concierge company Quintessentially's were late recently: "Need that table, ticket, or rare item? Meet Aaron Simpson the upmarket fixer who knows the habits of the super rich By Sarah Bridge for The Mail on Sunday Published: 22:02, 5 September 2015 | Updated: 10:37, 7 September 2015" ... It set up hundreds of businesses, covering everything from wine and fitness to education. That model is being restructured, which Simpson says is why accounts were filed nine months late. ‘Give me a break,’ he says. ‘I’ve waited six months for my tax refund.’ ... While the concierge business has about £18.6 million in sales and makes £1 million in annual profit, these other activities mean the group’s total turnover is £65 million and it makes £4 million a year. ... " http://www.thisismoney.co.uk/money/news/article-3223583/We-tracking-customers-s-valuable-information-Meet-upmarket-fixer-knows-habits-super-rich.html I would anticipate that Lion's accounts will be published in due course, and that the strike off will not proceed. MMO's directors may well have been busy on other things recently ...
TODAY HAS SEEN A SIGNIFICANT RISE IN CONFIDENCE IN OIL SHARES,HAS MERCOM GOT THE TIMING RIGHT? CEO MUST GIVE NEWS TO SHAREHOLDERS NOW !
Sorry HH100, not done any posting on forums before. The missing bit was the page for Lion Natural Resources Ltd on the Companies House website.
Bought into MMO after reading your posts HH100, but found this today and wonder what it means. Could you help? https://beta.companieshouse.gov.uk/company/08295640 then under filing history, there is a letter called First Gazette notice for compulsory strike off. Surely this is one of the good holdings you wrote about. Thanks
They say that every dog has its day. NCCL has risen from barely a penny in early December, to over 5p today (market cap. £12.8M.), and one deal was all that it took: 11/01/2016 16:03 UKREG Ncondezi Energy Limited JDA signed with Shanghai Electric Power http://uk.advfn.com/stock-market/london/ncondezi-enrg-NCCL/share-news/Ncondezi-Energy-Limited-JDA-signed-with-Shanghai-E/69957679
Bazzerhino, The investments made here were of sufficient quality for MMO to have been deemed to have fulfilled its investing policy. And as the company has fulfilled its investing policy, it can't been suspended or delisted for failing to do so. In addition, the NOMAD here hasn't resigned, which would damage its reputation and potentially jeopardise its business if this was a scam. In addition, MMO directors having been paying themselves in shares recently to conserve the company's cash, effectively therefore buying shares ... and at about double the current share price or more. I take comfort from the fact that directors have been paid in shares when there's plenty of cash: that's not consistent with this being a con. And there's no point them taking shares unless this is worth something, or else they just have a big stake in nothing. They are well-incentivised to deliver value here, so let's see if they can do so.
KENV rose from barely a penny two years ago to nearly 6p within a few months (and has recently been over 9p). And two years ago KENV was quite comparable to MMO at the moment: 24/12/2013 08:54 UK Regulatory (RNS & others) Kennedy Ventures PLC Final Results " ... As shareholders will be aware, Kennedy Ventures has been an investment company since going through a CVA and reconstruction in May 2012. Its investment policy is to make investments in the energy and resource sectors. We remain focused on those areas and continue to believe that good opportunities exist in these sectors although we are also prepared to look more widely at other areas and we have reviewed a number of such opportunities. Kennedy has in fact principally sought to do a reverse transaction and, although we have taken a number of transactions to quite a detailed stage, we have not yet identified one which, in the Directors' view, would be attractive in terms of valuation and future financing requirements to shareholders. It has in fact implemented its investment policy, as announced on 24(th) May 2013, having invested in a portfolio of quoted and unquoted investments in the resources sector. It subsequently disposed of its quoted investments, in view of uncertainties that the Directors felt were developing for small to mid cap stocks in this sector ... We do however feel that the Company needs to be more fully resourced and we are planning to bring in additional capital in the near future. We are hopeful that this will lead to a value enhancing transaction in the current year. ... " http://uk.advfn.com/stock-market/london/kennedy-venture-KENV/share-news/Kennedy-Ventures-PLC-Final-Results/60485192 The big gains at KENV came to those with vision and patience.
As I write, gold is $1,103.55 per ounce, a recovery from the recent low of $1,050. http://goldprice.org/spot-gold.html Still comparatively low, but that means that a good gold investment can be picked up for a bargain price. And gold can actually perform well in times of economic uncertainty, as a defensive investment. From a market cap. of about a third of a million quid here, the upside is potentially enormous.
What makes you say goldies are on the rise....the price of gold is as low as ever and from the economic outlook with china in a slowdown the global demand is not set to increase anytime soon it is?
now would be a good time to spill the beans on the rumoured gold mine investment here.
Another strong intra-day reversal back up to 2p (from the fall to 1.625p), a bullish sign. The recent chart is looking positive, with good closing support at the 2p level, and the makings of a climb back up to 3p.
Can't buy much. Stuck a few quid of fun money in. AIM silly season is upon us and illiquid small caps are flying at the moment. Out of the blue this will bag.
The third highest riser on Thursday 31st. December, LIFE, has more than doubled recently from 2p: LSE % Gainers Top Lists EPIC Name % GGP Greatland Gold +57% CLP Clear Leisure +46% LIFE Life Science De +43% Price Price Change [%] Bid Offer Open High Low Volume 4.88 1.475 [43.38] 4.75 5.00 3.25 5.25 3.20 3,492,079 Market Cap. [m] Shares In Issue [m] Beta EPS DPS PE Ratio Yield 52-Wks-Range 1.83 37.50 1.65 -28.64 - - - 5.25 - 0.85 This shows the potential of oversold investing companies / shells like LIFE and MMO, at a market cap. of under £1M. and trading at a discount to cash. And MMO's discount to cash is a lot more than LIFE's was at 2p, and its market cap a lot lower.