The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
That why Paul J bought 10%. There must be a deal in the offing
easy double figures on any renewal deal. been ages. must be something around the corner #mariokart
Some under the radar purchases over the last couple of days and I am adding a few more here and there. Something is defo stiring.
about to watch Skyscraper in 3D
such a low no. of shares in issue and Griffin are minted. only need to announce some new coal project and this will go off.
Interesting that Salmon Gums is right next door to THOR - the link being Paul Johnson who was buying SRO recently and now owns 10%. he also owns 5% of THOR
Join the dots.....
This will move very quick, I managed to get a few more. You may need to buy smaller chunks
all crashed. can't even login into website.
I've been trying to buy at 6p all day. can't buy any. now its up to 7p.
In the bank jan18. Reckon we are less than cash now
He's going to have to do some serious ramping to drop 10% on the market. More likely to create a self fulfilling deal. He was buying at between 4-7p. We are trading around cash value now. I'm happy to sit back to see what unfolds. I think we can agree there will be corporate action, it's just a waiting game
Wait until it's sub 1m mkt cap and when PJ can ramp it up so he can sell out. Then get out quick.
100k trade was delayed as most larger trades are. I took the opportunity to pick up another 50k. Bargain. When this pops it could rise significantly. If you have researched you will see the opportunity. Stick in the bottom draw and await for fireworks
Not in here yet but was going to pull the trigger on a small speculation today until the large fall without news. I can see the 100000 sell but that came after the fall, anybody have any ideas? Will be sitting on sidelines until I can bottom out but this did look a decent long term speculative buy so would like to get in
May pick up 25k ish, as a punt
Ive also been looking at SRO. But cannot believe there is not a catch. Ie they will probably need to raise a load of cash and with current SP this could mean massive dilution. Hence the SP may remaining low Any views
Market cap after you strip the cash out is �200k. No debt. Nai/DYOR
GFM was as low as 10p in 2008/9 and again in 2016. It is now 135p. SRO have the same directors and are not taking a salary out of SRO so it is in their interests to get the sp back up considerably. Nai/DYOR
"To enable the Company to retain enough working capital to be able evaluate available projects, the directors have agreed to forgo their directors' fees or consultancy fees until a project is successfully acquired by the Company. The directors remain fully committed to ensuring such a transaction occurs." https://www.investegate.co.uk/spitfire-oil-limited--sro-/rns/preliminary-results/201712061022445523Y/ Also, this is interesting from the same RNS: Operations The Salmon Gums Lignite Project remains on hold. In September 2017 Spitfire Oil Pty Limited applied for a renewal of the retention licence over the Salmon Gums Tenements for a further five years. New regulations were introduced and became effective from 1 December 2013, requiring inter alia a JORC resource report under the 2012 rules, which has been prepared and submitted to the Western Australia Department of Mines and Petroleum. Whilst the directors believe the application for a new retention licence is fully compliant and are confident that a new retention licence will be granted, to date a new retention licence has yet to be granted. --- So if/when a retention licence is granted it will coincide with a JORC resource being announced ! Nai/DYOR
Part 2/2 Please do some research yourselves. Don't just take my word for anything as I'm just a PI and not authorised to give investment advice. SRO are a punt and at £1.5m cap they are very illiquid so can move very fast in both directions. The current spread of 1p is wide and often when you see that MMS are on the defensive and don't have much stock. I've had my eye on them for a while and missed the last spike up to 13p but I'd be looking at much more than 13p if Salmon Gums is ever developed and there is always the potential news on the new assets/acquisition. I prefer to buy shares when nobody else wants them as that is when they tend to be the cheapest. I wouldn't put the house on them and as always with AIM shares there is a chance you'll lose all of your money though so do your own research, then research some more. I've bought 25k at 6.5p. Nai/DYOR
SRO Current sp 6p Current cash A$ 2,671,088m = £1.5m Shares in issue 25m. 6p per share of cash and no debt. Downside limited because of cash protection of 100% of current market cap ? Came to market in 2007 at a difficult time and just before the world markets went into free fall and the oil price collapsed. Listed at 60p with a £25m market cap. Went as high as 110p. Resource when they came to market was 200m barrels of oil equivalent. Resource now is 330-420m barrels of oil equivalent. www.investegate.co.uk/spitfire-oil-limited--sro-/rns/resource-update/200907160700127325V/ Here is the potential game changer: www.hellenicshippingnews.com/japan-accord-to-boost-brown-coal-lng/ SRO Salmon Gums asset is in Western Australia ! SRO have already produced oil from this asset and they could get up to 20,000 barrels of oil per day. www.investegate.co.uk/spitfire-oil-limited--sro-/rns/first-oil-production-from-new/200901120700074018L/ You read that right - 20,000 barrels of oil per day. Spitfire raised funds in July 2007. The Company estimates capital expenditure on the project up to fully operational capacity at around $1.3 billion (in 2008 dollar value). Its projected operational expenditure is $18/bbl of oil produced, with a breakeven oil price (generating a 9% return on capital) of $40/bbl. A$40 = US $31 Current oil price $62 So $31 profit per barrel x 20,000 barrels a day = $620,000 profit a day. X 365 days = $226,300,000 (£164m). You'd have to assume days when it isn't on stream for maintenance etc but even a conservative figure is eye watering compared to the current market cap. SRO have lodged a renewal of the licence and said this in the most recent rns: Chairman's Statement Chairman Mladen Ninkov commented, "The internal process of renewing the retention licence over the Salmon Gums Project has been completed and all the relevant documentation, including a revised JORC Statement in compliance with revised requirements, lodged. A new retention licence is expected to be issued in the near future. Otherwise, as the case has been for some significant time now, the directors continue to investigate, approach, evaluate and negotiate new projects and acquisition opportunities to revitalize the Company. Needless to say, for all the reasons outlined in previous communications, this is a monumental task when attractive assets are involved. The Company is determined to see this task completed to its successful conclusion." www.investegate.co.uk/spitfire-oil-limited--sro-/rns/half-year-report/201802200700033261F/ New licence issued 'in the near future'. Also, they are looking at adding other assets into the company also, although they've been saying that for a while. Paul Johnson owns 10% of the company and will be actively looking to increase shareholder value imo. Please do some research yourselves. Don't just take my word for anyt
Why? Read guer inv. That's why.
Results of the twitter votes... Of the 53 votes counted, 38% voted for fintech development of some kind. Hope the BoD has that on their radar .... L.
Good to se this starting to move again. Almost all buys again today L
So, put a vote on Twitter with some business sectors on just to see what people would most like to see SRO look Into during 2018. I picked the following sectors; (obviously there are many others, but these seem to be in vogue at present) 1) stay in oil and gas 2) fintech - blockchain type development 3) fintech - crypto currency (ie miniing) 4) mineral resources - EV related ( ie. copper cobalt, lithium, nickel Link is here hopefully https://twitter.com/wyld3c4rd/status/946706324674564097?ref_src=twcamp%5Eshare%7Ctwsrc%5Eios%7Ctwgr%5Ecom.apple.mobilenotes.SharingExtension If you fell like adding your vote, or commenting, feel free Predictably, fintech blockchain is leading the way, closely followed by EV mineral resource development, But, will it stay that way? L.