The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Fort, Add, nit so long ago, I mentioned my concerned about a placing at 3p to Bob, and he replied that he has the 157m shares which could be placed with a strategic investor. That should remove the need for a low SP raise. Hence, I am not inclined at this stage to believe that the Cornerstone guys will pocket these shares.
Noboa trying to clean up mining sector
https://twitter.com/presidencia_ec/status/1780334499894538600?s=46&t=XX3-iZapJ1HaXMFlnE7nKQ
“OFFICIAL STATEMENT
General Secretariat of Communication of the Presidency
April 16, 2024
MINISTER ROBERTO LUQUE TAKES CHARGE OF THE MINISTRY OF ENERGY AND MINES
The problems of the energy sector in Ecuador in recent years are not due to the lack of technical proposals, but rather to the lack of firmness to combat corruption and incapacity in the sector.
For this reason, President Daniel Noboa Azin, through Executive Decree No. 222, entrusts the Ministry of Energy and Mines to Roberto Luque, who currently serves as head of the Ministry of Transportation and Public Works (MTOP).
Minister Luque's mission is to lead Ecuador's energy sector with the capacity and firmness necessary to fight against the corruption that has established itself in this important sector”
Fort, I won't disagree with you on that one. It's very odd.
Addicknt,
I really hope so. But how else do you explain the CEO's pony £5k buy?
Fort, "Well...it stinks if it happens and guess we'll have to wait and see". Precisely, it hasn't happened and there's no evidence to suggest it may. So what's the point of getting excited about something which hasn't happened?
I agree that it would be good if the shares end up in the hands of someone like Barrick. However, my guess is Caldwell would prefer not to sell those shares and to seek alternative finance options.
HfH,
My guess is that Scott is keeping his power dry for another event. I wonder what that could be? Perhaps he and Bob are keeping some cash ready to buy up the CGP shares they used to own but gave away in the merger for a cheap price which has been enabled by themselves.
157m CGP shares owned by all shareholders about to go back to teh former owners at half the price??
Stinks doesn't it. Well... it stinks if it happens and guess we'll have to wait and see.
Quite frankly, I think insiders should be banned from participating in any purchase of those CGP shares and that they should go (if they need to be sold at all) to a new investor that strengthens the shareholder list... someone like FMG or Barrick would do nicely.
And for the record... I don't think they have enough cash to see out May nevermind June. The June forecast for when cash dried up to zero was made September 2023.
Now... I wonder what newboy Mr Liu is making of all this lol!
Hfh.
I wonder how two of your posts tie in with recent share DEALING, and your claim to be 100% correct with your inside info.
Your March post.
"in this case I concur with 1984, it is 100% certain executives are in receipt of materially price sensitive information not in the public domain, so cannot trade. The said price sensitive information relates to various financial offers and will be released in the near future and will have a very positive impact on the SP, in my opinion."
Or your earlier in the year post, that news of a finance deal is imminent.
However, it's good to see some of you are waking up to the fact that solg is a s" "t show, and despite posters wishfully pleading the opposite.
NOTHINGS CHANGED
It's not like you to sound so doubtful HfH!!!
Perhaps a timely email to solg to see if they can shed any light on what exactly is going on. Nothing Scott The Rocks Caldwell does surprise me. In fact, the current confusion is exactly what I expect from an inept buffoon who is trying to punch above his weight.
I regard these buys as clear evidence that there is no bid and that we will be stuck here for the foreseeable with this buffoon gorging himself at the trough. They should not be able to buy if a corporate event was imminent.
I've taken my time whilst trying to make sense of the recent Director share purchases and personally I've come to the conclusion they were absolutely ludicrous.
Firstly you have Scott, who memory serves has about 14.5m in share options, who has already shown his faith buying £91k's worth less than 6 months ago buying just over £5k's worth, despite doing a recent interview saying he couldn't be because he's in a close/blackout period. Then you have Chris, who I understand it has received all the financial offers to shore up the balance sheet, buying not a lot more than Scott, but also having 9 million share options. He must, in my opinion be in a close period due to the fact a financial deal simply must be completed I would guess if not now then next month.
So why did they make such insignificant purchases? Was Scott being disingenuous when saying he couldn't purchase or being disingenuous when saying they would shore up the balance sheet, which let's face it HAS to be done by June.
ANY Director purchase i have seen has always been viewed as a sign of confidence, except these. There was absolutely no point, no need, they are at best disruptive and confusing, at least in my mind.
As for the future despite what others say, I see real progress. Nothing has changed in my view. They will get non dilutive finance to shore up the balance sheet. They will sign the Exploitation Agreement and the IPA and they will continue to derisk Cascabel adding value at every milestone until an acceptable offer comes in, and we'll also get the strategic review detailing what non core assets will be divested, at least in my opinion.
BUT if the above does happen, I can't see any explanation as to why that wouldn't be deemed insider trading. Nothing makes sense as to why they would buy that pultry amount at this particular time. As for a code, really? Next you'll be telling me a purchase of 1 means an RNS is coming lol.
All I can do is wait for an explanation, maybe there's a good one that I'm unaware of??