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I think Kevin Hornsby and Richard Corsie are just taking a punt.
No info to say otherwise.
Just don;t get it.
£550k in cash and At this share price £1.5m value in anticipation.
An investment in oil and gas in Egypt when Boris has said no foreign fossil fuel investment.
You don't get much for £550k unless its a reverse takeover .
They will not get funding so its a raise to deal ...
Just my opinion -- good to have a balanced view .
Look @ Richard Corsie MBE twitter .. Confirms its a punt if he is not telling fibs ..
I invested in a cash shell years back.
You only get a certain amount of time to start trading .. If not must de list
So they will be looking .... but not much of a war chest ...
sold my small stake today in MUST for 50% profit. was in for punt when i saw certain individual pump in twitter.
like you said, now its overvalued on hype as they only have small cash around 500k and will need to raise or RTO. even then, its now valued far ahead than it should be, in my view.
i still have ORM which i believe the next shell will multibag from here as they have large cash 5m and mcap still only around cash.
@Ivan's many of those that have successfully rto from cash shell are valued 3-5m on 500k cash.
Still plenty of room here.
I think you’ll find fair value here with no news is £2m with £500k cash as the shell has a value with no business ! Having chatted with the CEO Dean.I am confident he has lots of skin in the game and will get us a decent investment going forward ! Buy up to 24p before news. Good luck everybody.
Kebo, I thought the directors held 29% of the shares, is that right?
Well if that's the case Madchatter we need a PLC production line.
£500k in and a 6 bagger Just do not get it.
Unless there is material news , a leaky ship with a up and coming deal this is chicken pie in the sky.
After all it is not a given that they will make a success of any deal.
Very intriguing this .
As for Keboo . Lots of skin in the game and get us a good deal going forward.
Again chicken pie in the sky . Having money in a cash shell is like money in the bank . That is not skin in the game as there is no game.
I think you all have Corsie fever.... He plays Bowls :)
He has has sub £100k invested and the market cap has gone up £1m
Would love to be proved wrong
Not a deramp just a logical opinion !
They say history repeats itself, but IMO I am sure it is all just coincidence. (I saw a comment here earlier about an NAE asset and an news release today about said asset increasing its potential?):
NAE (AB Chairman), sold NAE asset Redmoor to SML (AB Non-Executive Chairman, PW Executive Director).
Thu, 26th Feb 2015 09:43 RNS Number : 9561F Strategic Minerals PLC "Richard Corsie has a total beneficial interest in 50,000,000 ordinary shares in Strategic Minerals, representing 6.91%".
RNS Number : 9830X Strategic Minerals PLC 03 September 2015 "Richard Corsie no longer holds a notifiable interest in the Company's share capital"
You should check out the SPACs that have been going on all year on the nasdaq. They have more like 50m cash and valued 500m to 1bn prior to merger. Typically keeping around 20% of the new company on merger.
Such valuations of 5m have not been unusual at all in the successful few this last couple of years. It depends on the quality of the management team, what they can fight for, and how quickly they can achieve it.
I have to say that I am pretty sure nothing is yet in the pipeline and Richard Cursie is doing his mates another favour by pushing the share price up so they get their 16.2p options.
Do they think we fell off a Christmas Tree.
Good luck with this !!!!!!
bitcoinbuyer Why would they give a S**t about their options at 16p when it was 8.5p to buy last week ? They still have to pay for them.
Gets them registered Cam****e for future proofing and the daft increase in price created by Cursie pulls in all the dreamers.
Only one dreamer in the room...
The company isn't involved in some market manipulation scam to hike up the price 100% so they can all buy shares at a 100% increase, they are looking for oil assets, read the prospectus, oil prices needed to rise.
The fact its risen is based on.... guess what..... Increased interest. Get real ffs.
Increased interest in what Cam****e ??
Increased interest in a cash shell with MGMT owning plenty & the talks with potential acquisition.
Not sure why you would buy Bitcoin if you struggle to get your head around this stuff.
"Hi I'm bitcoinbuyer... I'll buy an algorithm for £15,000 but I won't buy a growing cash shell for 15p as I think its overvalued."
Tripper.
I don't see the Value Camkite so cannot get my head around it.
Very intrigued.
I will leave the chat and sit on the sidelines just to see what fantastic oil assets they can get for £500k.
I am in Serica, Was in RRE ... Now I understand Kistos..
ENW and JKX so understand the oil and gas market.
I know about Tripping too Camkite , but no because the cash shell isn't growing is is its still got £500k .
Share price is irrelevant, it all comes down to Market Cap.
You can have 1000000 shares in a company at £1 each (i.e £1,000,000 market Cap)
You can have 100000000 shares in a company at 1p each (i.e market cap still same £1,000,000)
Don't get misled, it all comes down to Market Cap
You put in a decent amount in any stock with low market cap, you will get a higher percentage in that company, compared to if you put same amount in a company with a higher market cap.
shares in issue X Current share price = Market Cap
bitcoin shares are valued on how many people want to buy and sell... market mechanics are more important than fundamentals... Shares go up thousands of % on diddly F/A ... I do get what you're saying... but if this rises to 50p pre news then they will very likely be able to raise funds at 30% because the value is underpinned by the demand for the stock not the fundamentals.
Very similar to KIST... Just because AA has done it before doesn't mean he will again, business isn't quite that clear cut.
I get It Camkite, Just do not see value when good or even average companies are trading below cash held and assets at values moment.
But we shall see !