The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
A raise was no surprise but not at 100%. How will they sustain a £10mil Mcap to keep this at 1p?
Why do they need £5mil? OpEx was just under £2mil for the year and that included Bleepa development and new hires .... proper shafted.
I have been critical of casp lately, so I'll end the week on something positive-ish. It's AIM 25th birthday soon and HL have a good article on what to invest in.
https://www.hl.co.uk/news/articles/25-years-of-aim-three-tips-to-help-achieve-investing-success
Point 3 is where CASP fits the bill.
"AIM is well suited to family owned businesses because of the inheritance tax rules that apply. However, that can work to the advantage of outside investors too.
The desire to pass the business onto the next generation often means family owned companies are conservatively run while managers take a long term view. That can mean little or even no debt, and a relatively high level of investment.
These companies aren’t going to “shoot the lights out”, and aren’t the kind of company you usually think of when talking about AIM. However, over the long term we think high quality companies should deliver good returns. We find a surprising number of family owned companies that fit the bill."
acid will unclog that ... the deeps can wait .... toilets need sorting first.
Whats your prediction Fidelio?
https://www.bicotender.ru/tender163215525.html
Looks like Clive has blocked the toilets again with a solid. Contracts out for 700 000,00 KZT.
Any takers?
Haha blame Belles for that. I assumed he picked the duo after our intials.
Maybe he'd like to clarify who's who.
#ODX Boom :)
Belles, that made me laugh ... honestly If I could work this share I would ramp it and exit.
That fact is I have no material to work with and Costello wants nothing to do with it.
Give me something positive to tweet that's not a blatant lie and has a bit more content than 'BOOM', 'NT to Buy' etc.
I'll retweet it.
We are at the mercy of the BoD in the hope they'll let us play again. We are locked in/out for now.
coffe .. yes ... can't wait to see how they spin it.
uncertain ... I never said they did. We were already down before covid hit the fan. The drop from 5/4p to 2p wasn't their fault directly. Negative sentiment and seller was already there and covid just added fuel to that. PI's got mugged and those who know the game made some gains from 2p to 6p. Even they didn't want to see 1p as some cheeky sod could take a big chunk of the free float and threaten the family's control on casp.
Kalmyrzayev started dumping in sept 19. Every rise followed by steady decline.
You can see the same pattern after the 2017 merger when dosbol started dumping and Kairat pawned his shares.
All facts no conspiracy.
They'll let this back up now for the boat deal to conclude.
Tony it makes it easy to do these acquisitions.
They announce the acquisition at 12p, investors think wow ..someone wants casp shares at a premium. Clive releases positive statements like A5 flowing etc. We all buy in to the con.
The forward selling then starts and news/oil flow stops. The price is driven down to 4p or 2p (helped by covid). They buy back some of the shares lifting the price to 6p and concluded the deal. Oil/news flow starts again for the next acquisition .
Also they don't need a high sp to pay dividends. Their first target is £680mil MCap @ just 17p. That's 4billion shares in issue.
Money to be made and lost here until they don't want to play with us anymore, or they just change the rules of the game.
Exciting times.
I've got 47% in my notes ... they are currently on 44.25% ... The boat will give Aibek 2.5% more.
Unless there is a mistake on the website and the 44.25% is the post "boat deal" figure. But then Aibek should have considerably more shares than his sister.
Also, Aibek may opt take on some of the 40% from the other holder ... something to watch out for as they won't RNS that.
There is a precedent for this as Oraz Snr took an extra 4mil x 2 from Raushan & Kairat as they transfered into CASP.
I can see why they'd want to do that.
Coffee I think you might be right about the boat shares being forward sold. Reading through the T&Cs again the boat is done deal. Question is, will Aibek hold on to his 90mil. If he does then Oraz family egdes even closer to 51% holding if he doesn't then you have to ask why at 4p.
CC, Yup. They've pulled that stunt three times now.
I hope this goes to double digits but it wont change my view on Clive.
The next item on their agenda is the CE. 160mil shares to be issued by 30 June 2020. Looking forward to seeing the share register that day. Have they been forward sold?
I think lots of big news is coming as they will reveal the end game. All the pieces are in place.
GL.
KumKuat ... you nailed it in your opening sentence.
Clive can write off 300, 600 or 1500 bopd with a stroke of a pen. You could be flowing oil one day and mud the next.
That's not acceptable from 100 mil mcap company.
It's currently 3.9265 to sell and 3.995 to buy .... no idea what's going on.
Oraz was a 50% stock holder in Dosbol's Munai company. He no longer has that holding as of end of May.
So these background deals are still going on ... at our expense.
Kinda getting sick of these chess games ... time to deliver those 10,000 barrels a day.
Has anyone looked into Abiek Oraz? We've taken on his boat .. what else does he own?
Rooky
It's their history that Tom is struggling to shake off.
- poor performance and tons of dilution under previous CEO and previous flagship product Texrad
- major shareholder snapped and publicly trashed FDBK and crashed sp by selling.
- bloated BoD and head count.
FDBK is well know to many investors who will now need hard numbers on revene to come back in properly.
Current investors can look past the history and are betting on Tom. Fair to say, he's doing much better than his predecessor.
Early door sellers will regret it. Not worth selling at 1p IMHO. FDBK is very difficult to buy once the sentiment turns positive.
I think Tom will look to monetize Bleepa before September. If he reins in the cash burn then they should be able to last until then. Another trust or first payment for bleepa is what I'm looking for now.
Someone was saying how the competition was on Sky ... well Tom will be on at 9:30.
https://twitter.com/FBKmed/status/1267366560357912576
I think you can watch a live feed on youtube.