Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Agree - Think you missed the non transferable Warrants @ 2p?
Have to theorise from the “market soundings” statement that ETX have seen the draft Kenyan JORK report and were happy to issue £1m and they also believe the Warrants can reach 2p.
Kenya - Migori can start to drill $ 800,000 and the price goes up for any perspective purchaser.
5 projects can make/transform this Company - will Andrew Bell deliver one of them this time ?.
AGM today - let’s see what was voted for
Totally agree - the Warrants will need to be at 1p to be worth converting - do the new investors believe that the company can get there in a short period of time - I’ll take the 100% SP increase and the company gets additional capital of £850,000 when the Warrants are exercised.- who loses ?
Better question would be, what’s Matt going to use the money for and why would it someone invest at full market price if there wasn’t a plan.
The other alternative doesn’t stack up - “ hi, can we invest in your company at full price so you can pay yourself more ? “ Can’t see that - the new investors either want something or believe they know something about NTOGs future.
Can't believe you two ( Helpful and MM) are still bickering on here - once again Mr Magic please think before you post
The Warrants bring in cash to the company - I've not looked but it should be around £645,000 !!
The warrants are good news for the company and for cash flow and despite the dilution very good for shareholders
Once again I drop into this board to find war rages between helpful and magic.
Why can we not agree that the shareholder value is increasing, that there are numerous projects that could pay off , but , the value of those project depends upon delivery by AB .........who obviously needs further help around him and more ongoing oversight.
Mr Majic, please don't let helpful reel you in ...... as you trip yourself up regularly by being overly passionate/ angry in your reply
In this instance - Rasa Vaitkute is a SHE not a he ...... She has been with RRR for 13 years and no RNS was needed when she started employment, probably from school looking at her LinkedIn profile. Why didn't you check before posting your last post?
Can we have a quitter day tomorrow please you two ?
Sleep well........... if your not already!
Guys can we call it a draw today. (Helpful v Majic)
Let's agree
The CLN holders will NOT convert until at least 0.9p - there's no point as there's no profit at 0.6p
Yes, If they do all convert the new shares WILL dilute existing holders BUT
Majic - The market cap will not remain the same (as stated below) as the Company no longer owes £873,000 in loan notes and interest - so the book value of the Company increases by ...................... £873,000. ....................Good for all shareholders, especially as the Achilles heel of this company is cash flow
Let's further agree that the company is doing well - chart wise the sp has increased over 1yr, 3mth,1mth 1week and 1 day - not bad in a Covid environment
So, a company with no revenue, ongoing regulatory costs; ongoing oilfield liabilities, Directors not taking salaries, a fire sale of assets to keep the lights on I can see all that - but why change Brokers?
Novum have been the Companies Broker for years so why change to Peterhouse?
Simon - not sure if your taking the p!ss but you seem to have missed the 1k at the end of the data?
https://www.google.co.uk/search?q=BBL/D/1K&ie=UTF-8&oe=UTF-8&hl=en-gb&client=safari
So just 400,000 barrels per day - everyday ??
Guys, I asked Ritchieboy what he thought of Attis (not Mayan) and as far as I can see from my research (and his reply) the assets are good (even if a bit old), the Attis drilling and maintenance side of the company is an excellent asset for creating ongoing monthly maintenance revenue while additionally refurbishing and increasing the value of our existing assets, the company makes circa $300,000 pm making it look on paper "cash flow neutral" and the company will soon be in a position to raise external revenue rather than constant placing. Thom will no doubt be taking control of the company as time passes ........ so the future is very very bright.
Looking at yesterday's SP meltdown - if someone needs to sell 10m shares then the SP will fall !
The only sticking point is, was yesterdays CPR delayed because it was good news or bad, are the assets better than thought or worse, was there a new target area discovered for Thom to drill as I'm sure he's getting frustrated at constantly reworking old wells ? A question that will be answered (hopefully with good news) in the next few weeks.
If I was a betting man (obviously I am as I hold a lot of this stock) then the 3rd party analysis is not to satisfy shareholders needs but to put the company in a position to raise external capital to release Thoms team to do their thing without the need for a placing !
We LTHs need to understand Mayan (and all its baggage) is dead and we need to get behind this, our new Co - so let's stop the personal attacks and look forward to what's coming .
Long live Attis ............but ............DYOR as this is just a dump of my thoughts.
Ritchieboy, as you are the only one qualified to assess where this company currently is and where it will be going , could you bullet point where you think Attis is (not Mayan) and where it is heading
Sorry to ask but it might return peace and sense to this board and stabilise the SP for the LTHs such as yourself.
Stuy - I'm very heavily invested here - can you detail what you think will drive the share rise you predict ?
The price will only rise on RSN - what info do you think is on its way - there is no sentiment/goodwill value in this share so it will need to be hard fact to start the price rise .
Stalin - what was your total cost £sd and what platform provider - I still have mine to do so interested
IMHO,
You have a £3.5m market cap company owning a potential £100m mine with several other assets still to be exploited. So yes you could say it's undervalued !!
The problem is we don't appear to be running a business with NORMAL turnover, income and expenditure we instead appear to be running a shop - We buy assets in and then sell them ..... if we can !!
The issue here for me is that when/if we sell something the money is already committed to the next purchase - so there is no income to shareholders and no cash flow for the company .
We need Bell to break this repeating cycle or we as LTH will need to sell all the assets and then liquidate the company to get a return.
Don't panic if you see a big sell appearing as I've just bed and ISA'd my wife's £20,000 holding
Thank you to Lloyds who did this for £100 TOTAL cost.
Interactive Investor seem to think it's ok to just say "we'll sell in the market and buy back at the best price we can find" - so potentially leaving me exposed to a maximum £4,000 bid offer spread !!!!
Quite a difference in service levels this morning !!!
Ok Helpful .... I'll play.
When will a deal for Musonoi be done? - definitely before the next capital raise. There are once again so many outstanding projects that will require initial capital injection that they will need to pre funded from sale of existing assets .... before (we) all LTHs get diluted to death.
How much should the deal be for? Being honest I have no idea what the value dirt in the ground is ...... but I do know that the first deal (even if done below market value) unlocks the complete value of all the other assets RRR own ........ The priority should be to protect future shareholders interest even if slightly detrimental in the short term.
So how about thinking along the lines of : The market cap is £3.6m - so let's return 3 times (£10m) to shareholders and then provide AB with £5m working capital to give him a fighting chance to deliver a second deal at FULL value. So, to answer your question - my flag packet numbers indicate you need £15m for Musonoi !!!
If AB could deliver a quick sale on that or any profitable item (without habitually buying anything else) then he would regain the respect of the market and the SP might once again be measured on potential asset value rather being undervalued when measured on "AB value."
There is a chance here for all to win and for AB to go from Zero back to Hero.
IMHO
Surely the play this time is to allow the major RGM shareholders to drive this company into the ground and then for RRR to pick up the assets on or just before liquidation.
Why would RRR shareholders want to rescue another company when we already have so much to correct ourselves
If the major RGM shareholders refuse to fund the business and exercise their power to stop others doing so - there are only two outcomes. Sell current assets and die slowly or don't and die quickly.
Like here the major shareholders wanted Bell out, he did not want the fight so resigned as CEO/Chairman and then the two 'pencilled in' replacements ....... walked away.
As an RRR and RGM shareholder I'm currently really conflicted as to how I feel about RGMs survival.
Do we want the directors to be able to issue 80% more shares (367,155,500) therefore being able to raise £14,686,220 ?
Resolution 9 then appears to ask that that we remove the need to ask the major shareholders permission to issue.
8. Directors’ authority to allot shares
That the Directors be generally and unconditionally authorised pursuant to section 551 of the Companies Act 2006 (Act) to issue and allot ordinary shares of £0.002 each in the share capital of the Company (Ordinary Shares) or grant rights to subscribe for or to convert any security into Ordinary Shares (Rights) (such Ordinary Shares and Rights being Relevant Securities) up to an aggregate nominal amount of £734,311
If we all believe in this company, if we want it to conclude its review of operations (and then directors) if we care about delivering value for shareholders at the expense of shorters, then PLEASE PLEASE write to the chairman....
PLEASE SUSPEND MAYAN SHARES .... until the review is complete.
Only then will there be peace on this BB and will we be able to move forward together