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What are your concerns with Chariot?
Feel free, however I express my concerns there as well..as I hold shares on both PRD and Char .
You don’t like objectivity or counter discussion one bit do you ?
@Thebold
🤣.
Maybe I should post on the Chariot board to counter your unbalanced views.
You’ll take umbridge for sure!!
Ford
Not here at a loss, just prefer they got on with it while.Im still relatively young.
Funds here is risk capital but I see other good opportunities. If there is no definite window to complete any sort of quantification then it is a Lifestyle company where PG pleases himself and makes up for dilution through share awards.
I'm lucky that it is risk capital and if minded I could buy millions more shares tomorrow.
The funds here might pay my grandchildren school fees some time in the future but if they don't it will be taken care of from salary and bonuses between now and when they may arrive - probably 15-20 years away but intend to be retired long before that regardless of events here or in other risk holdings.
So please infer whatever you like but am afraid you're barking up the wrong tree.
Jimmy,
Keep up the good work in your polite and balanced posts , posters like trotoretire seem obviously acutely over, invested and emotionally stretched here and cannot handle investor / poster concerns , objectivity or the realism of our current situation.
He will be accusing again of being Jimmy Lea next. Absolute Baffoon.
Tritoretire.
Please explain the three fundraising and nearly three years since mou 1 to sandjet perforate, last fundraiser at a huge discount, I purchased shares shares on the basis of sand jet perforation, and now no licence extension after 3 months since submitted.
It’s not unreasonable to expect prd to do what they say they will do.
Perhaps you should check out their balance sheet to understand my concerns.
No other agenda despite your best efforts to imply otherwise.
Jimmy
@Jimmy23 the following from your post:
‘My fear is that continued delayed sand jet flow testing is just used as the basis for further equity dilution rather than go for cashflow generation to sustain exploration drilling.’
What utter tosh!
PG being the biggest shareholder do you really believe this is his game plan?!!
Heard it all from you now!
Disgusting agenda; time for you to come clean on who you are.
It’s clear as daylight. Just saying!
I tend to agree i think PG wants to try and test all the wells at one time (one after the other) question how many drills would that be and how much would that cost and is there is remote chance that TT could make up a small amount of the difference.
I strongly suspect that of course the company want to get on with things but they won’t do things they don’t want to and will wait if needs be.
Probably doesn’t suit traders and people who are sitting on losses of course which my intuition suggest you possibly are. Makes sense to me how your tact changes due to your emotions of wanting to get back in the green.
Jimmy I don’t believe we have raised three times for sand jetting, I believe sand jetting has been much more recent and talked about late last year.
Paul has also explained why mou1 hasn’t been tested yet and that it has actually worked out very well for us that we didn’t. It took a long time to understand the data from mou1 and now they feel sand jetting is the way forward and has worked out for the best for a number of reasons.
Claims of you fear that the board are stringing shareholders along for more dilution instead of cash flow is nonsense.
Paul is the biggest shareholder and beyond that he cares about real investors and the people that support him and the company. He will do what is best, what he can and what he is allowed to do.
You’re clearly a sensible and knowledgeable chap but it is becoming very clear what side of the fence you’re on.
Ford707
It may be that getting them to align perfectly is difficult, hence getting on with one and accelerating the other is advisable.
Otherwise we face an interminable wait for stars outwith the company's control to align or hold Sandjet kit for 3 months while waiting for the rig.
Fwiw I think BoD will be receiving kit for Sandjet already and in process of procuring remainder to test the intervals in May.
Oh, it's a great deal worse than tedious.....
- I think exasperating came next....& We're not even in infuriating anymore.....
GRH,
I note your view that testing has never been urgent.
I think after nearly three years since mou 1 and three fundraisings to carry out sand jet perforation it does look as if you are correct.
I know that it’s been indicated by many on this bb that there is a fear of a take over bid when flow testing occurs.
I have not seen any justification for that view. Indeed , if flow testing occurred successfully it would justify the board of directors looking for a higher price and they can then defend a higher valuation and create competition for the asset, if that’s what they want.
My fear is that continued delayed sand jet flow testing is just used as the basis for further equity dilution rather than go for cashflow generation to sustain exploration drilling.
Jimmy
Do you think that it is possible that we want operations to align together as much as possible. It has been discussed here before and for good reasons imo.
When we get posters coming in late in the day without having the understanding that lth’s have it does become tiring.
All for new investors and all for discussion but we clearly have the traders union here, people that have been here a while but were expecting it to happen overnight.
Then we seem to have others who’s emotions take over and they change tact from optimistic and patient to then impatient.
Let’s not talk about the others who clearly want to keep prd down for other reasons.
Every single missed timeline, hold up or change of plan has been clearly articulated by the company.
Those that are constantly going on and on clearly don’t believe what the board have said or they just do not get it.
Don’t believe the board then you really shouldn’t be invested, I wouldn’t be.
If you don’t get it then get out or take note of the truly generous and knowledgeable posters on here.
Summing up, turn it in for goodness sake it is getting really tedious!
Tritoretire
I'm glad also there is no debt. However, if timescales are open ended then it leads potentially serious delays. A bit of pressure can be good to achieve results.
Not ridiculous to suggest with scarcity of Sandjet equipment and demand for the rig getting access to them aligned represents challenges and as a result perhaps better just to get on with one and accelerate other as best as able.
Apols for spamming the bb - phone kept changing format leading to posting before finished.
Tritoretire
I'm glad also there is no debt. However, if timescales are open ended then it leads potentially serious delays. A bit of pressure can be good to achieve results.
Not ridiculous to suggest with scarcity of Sandjet equipment and demand for the rig getting access to them aligned represents cha
Tritoretire
I'm glad also there is no debt. However, if timescales are open ended then it leads potentially serious delays. A bit of pressure can be good to achieve results.
Not ridiculous to suggest with s
IJwT
No disrepect but that’s why I’m glad that we have no debt - Zero.
Just maybe there’s a big picture at play.
O&W
BoD has been clear that MOU-5 is funded.
Would add to my earlier post that is ASAP was desired timeline in Nov, then if not urgent it is certainly significantly overdue and time to get a move on.
That means doing Sandjet whether we have rig or not.
Will CM be another delayed part of the story, given that cash flow back in the Jan operations update was expected to flow through in H2 after work overs get started in Q2, thereby funding MOU-5 drilling?
GRH
No worries, appreciate some of us may disagree but easy to do so cordially.
My frustration is the time lapse and it is shared by many and a cause of SP drift. Still invested as maintain risk worth reward. There is an opportunity cost to holding and we ant be expected to wait interminably.
Regardless of SV-101 availability, Sandjet needs to be executed soonest and in line with timelines previously advised.
In my deals I've seen CEO and CFO of different LevFin companies (significantly larger than PRD) pay with their jobs for missed targets in the last 3-4 months. Not suggesting this should happen with PG but he does need to adhere to timelines as clearly aligning the activities is problematic and cam lead to serious delays. Appreciating the potential benefit in doing so all the same.
Thanks IJWT
The part you quote was item 5 in a longer post...explaining what I thought would be announced
If you read that post and mark it against what we have heard subsequently...I think you will agree it was reasonably accurate
The reason I took iss with you is your word 'urgently'
It is your word...not mine
It has never been my belief nor understanding that testing is in any way ' urgent'
Indeed, if you read my other posts, you will see that I believe much is being done to try to ensure that several important events almost coincide
Thank you
ATB
G2
Thebold
I think you seriously mistake what is or isn't actionable.
GRH
8 Nov'23 @ 19.42
I now hope to hear or testing ASAP so.pwrhaps not urgently required bur ASAP indicates urgency in my mind. Perhaps you had a different context meaning with use of ASAP.
Not intending to slight you with posts, there is more value to the discussion on the bb with you on it than off it.
Cheers
Ijwt,
His legal team will be contacting you, the messiah will not tolerate anyone misquoting him ….LOL..ROMCL.
Ijwt
you have stated the following
'GRH might call it small stuff but he was posting last September to say flow testing is urgently required '
I might be old but my memory is not normally deficient
Would you please remind me of my post in which I allegedly said that
OR...failing which
Explain your recent error
I wouldn't mention it
But I regret it is not the only example of misquoting me
Thank you
Off to do serious mowing
Regards
G2