Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Yes the Yorkville share scandal as exposed by Brokerman Dan, was one to many cover ups LOFGRAN could not hide. Well done Brokerman Dan
They are working on other BBs at the mo
https://www.guerillainvesting.co.uk/2016/07/26/nostra-terra-oil-gas-ceo-shorting-scandal/
Agreed about Egypt didn't work out.
Scandal? What is the scandal?
Tell me the bedtime story about the shorting scandal and Egypt as well please? :)
There are two distinct 5 to 6 year phases to NTOG. The first, after the repositioning of the Company following Ukraine, culminated in the oil price decline and lows hit in early 2016. The NTOG strategy at that time of focusing on reservoirs that required fracking needed much higher oil prices ($85/bbl upwards) to be economic and therefore no longer worked. This meant that the funds raised during this period were a right-off. The share price naturally went down, down down.
A new strategy was needed. This required unwinding assets and obligations no longer required and formulating and implementing a new strategy. This heralded the second phase with the Pine Mills production acquisition and other acreage resulting in the drilling of two successful wells on the Grant lease in 2017. The share price went up, up ,up. A follow on to these was Mesquite. If you want an explanation of where the Mesquite funds went it is explained in both the annual accounts and interims following that large fundraise it isn't a secret But you are right in that no Mesquite wells have been drilled to date.
The Company isn't so great but it can do better and if it focuses on doing more Pine Mills type acquisitions and similar drilling opportunities that have been successful it can repeat the success it has had. That is what Lofgrunt should have done instead of being waylaid with Mesquite. Thankfully he, the Board, the Company is now doing that. Against this backdrop the oil price has again declined, mixed with COVID and recent shareholder discontent the share price has gone down, down, down. Whoever had been in charge in my view would have experienced the same decline in share price. In this regard I don't share your criticism of Lofgrunt. The market is a great leveller.
We are now at a juncture with new assets that seem right for NTOG. Production has a good chance of doubling near term, which will bring financial resilience along with upside if the oil price increases and potentially opportunities to add to the portfolio.
The sensible thing to do would be to not squander the previous millions and millions of pounds of placing money.
For example just look at one of more recent placings for Mesquite development
Where is the money from the placing for Mesquite? They said they didn't spend it? Yet they needed to do a placing to pay for recent deals? We will see soon when the accounts are released.
Yet again things aren't adding up.
This is and always will be a lifestyle company for lofgran.
There will always be a paid pumper on these bbs too to drum up a few nano percent increase so the scumbag conspirators in on the placing can offload their shares. Rinse n repeat, and so on.
Ask yourself this question, if this company is so great why aren't there numerous posters on here singing praises and piling in money?
Then these questions,
Why has the share price been in constant decline for years?
Why does almost every RNS contain lies?
How can a CEO pay himself huge salaries over the years for loosing money?
When Matt does his yearly presentation with the same slides why is it met with zero buying interest?
What will be next will it be more placings or could it just be approaching time for a consolidation so we can start all over again?
If that is what you believe then raising money is the sensible thing to do in the interest of shareholders.
They havent got any money so they had to do a placing for recent project and running costs ie fat salaries for 11 years of nothing
Choosing to do a placing and having a need to do a placing are different things. I think the messaging is subtle.
The myth or otherwise will be determined by events so best to revisit in the future once wells/ workovers completed, we have a better insight to the administration costs given recent stated cuts, the new overall production level and prevailing oil price.
This is disgusting again. Big song and dance about the new asset without the need for a placing then bang millions more confetti shares fired from the lofgran cannon. Same story every time.
I sure helpful will be happy with this as he will no doubt have helped himself to some for .25 and will be selling them into any future tiny spike, all the while pumping the myth of being at break even.
We've previously stated that we're focused on increasing our cashflow in the near-term, through placings. And placings. And more placings. :)
Cue even.
Placing. Right on que.