Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Kashdog - I agree. Someone must believe in AST, as the share price has increased 10% in the past week!
SP usually increases on release of positive information concerning the company. I have heard no positive news in the past couple of years, let alone the past week. That is a 520% per annum return.
Pinguser5 - Exactly!! The phrase "expected imminent completion of the damages-based agreement with Enyo Law" is just another carefully worded phrase that causes the reader to believe something is actually happening on the legal front.
It should be a good indication of the health and dealings of AST if a lawyer doesn't want anything to do with them.
Kashdog - My belief is that the large trades are done between two larger shareholders to keep the share price propped up artificially. One shareholder puts a higher than reasonable asking price on an offer, and another shareholder places a high spread buying price on their offer. The shares are sold to the buyer at a price that is higher than it should be.
Conrad02 - I am not sure which RNS you are reading, but it is clear that it is not the same one the rest of us are reading. The RNS saying nothing of any successes in Slovenia, Cuba or Peru. Geoenergo is owed a lot of money from past years operations, and I would imagine that they are holding back a good portion of any revenue generated by Pg10 to help cover those debts.
The truth will come out when the balance sheets are released (not sure when that will be) and the bank accounts will tell the tale.
So, at least 5 trades today of 100,000 per trade. Something seems a little fishy. Is it just shares moving back and forth between certain connected shareholders to manipulate the share price? I find it difficult to believe any investor would purchase AST shares at this point. Their track record has been horrible, any revenue generated is immediately spent, and there are no plans for any future operations. They have no assets, are delinquent on bill payments, have broken the terms of the JV agreement and are totally lacking any ambition to grow the company. There is nothing to make AST look attractive to even the most inexperienced investor. Yet, a couple of days ago there were some very large trades that drove the SP up to nearly 4.20.
I understand people selling AST, I just can't understand who they are selling to. IMHO / DYOR
kenj - There are issues with one of the wells and those issues need to be repaired by AST. If Geoenergo had not extended the JV agreement, then AST would be gone and Geoenergo would have had to pay the repair costs. Made sense to give AST more time to do the repair.
It looks like Parsons is very busy. 4 times 150,000 per year = 600,000 per year salary. Nice gig if one can get it!
https://www.echoenergyplc.com/about-us/our-team/board-of-directors/
https://www.coroenergyplc.com/about-us/the-team/
https://www.corcelplc.com/strategy-mission-statement-responsibility/board-of-directors/
It is no wonder that they have no time to properly address issues with AST!
patrick842 - I agree.
I know a lot here jump on Colin for what went on during his term and some have reason. But Colin didn't have the control he should have as CEO and his hands got tied at times.
He did realize early that as an oil and gas company you can't **** off the government agencies that control the permits.
But by that time he was leaving and JB wasn't as wise to that fact. It was a snowball rolling downhill by that time and it just got worse.
Up until a couple of years ago there was a chance to continue operations but the BOD decided not to. Instead they decided to use the lawsuit, and possibility of the windfall, as the driving force for the share price.
Now they just relax, produce enough from Pg-10 to pay salaries, and put their feet up.
Blazinl - I can't explain it. Most times a rise in share price indicates investors think things are getting better for the company, usually due to an RNS or some other announcement by the BOD. But there has been none. So it is either gamblers who just toss a coin on what to buy or someone knows something the rest of us don't.
Patrick842 - I posted on here how much AST would win from the Slovenian government when the BOD first started talking about the law suit! They will get nothing! Diddly squat! Zippo!
The mining law, before the recent changes, allowed fracturing within certain limits, which would have served AST well, if they had followed them instead of fighting with and insulting the Slovenians. All they had to do was conduct an EIA and they could have been drilling and fracking and producing and making large sums of money.
Ascent management has done all the damage, and been paid very well for doing it.
As per RNS: "withhold 25% of their salaries and fees until the funding arrangement with Enyo Law LLP has completed."
This does not mean the BOD are taking a pay cut. This means just what it says, 25% of their salary and fees (whatever "fees" are) will be given to them as a lump sum when funding for Enyo is secured (I thought Enyo was taking this case on a "no win - no fee basis?).
The reason they are not getting paid from the JV partner account is the fact that AST owes the JV partner fees that have not been paid for many months / years. This is most likely the reason for the 25% salary and fee withholding.
More double talk.
If AST had have done the EIA in 2017, when they we supposed to be doing it, and worked to get a blanket fracking approval for Petisovci, they would be in good shape now. But they didn't do a thing, except talk for the past 5 years, and now it is too late. There are still things that AST can do in Slovenia to increase production but it seems they refuse to do them. That is too bad.
Disciple13 - Directors salaries should be reasonable (maybe 70,000 or less) and they should have bonuses tied to the share price. Then you would see action and everybody would win! The higher the share price, the higher the bonuses. Business is all about motivation!!
itsallamess - It is not the tool that is stuck in the well that is stopping AST from producing Pg11. It is the fact that the BOD have decided to pay salaries instead of purchasing gas separation and compression equipment. If they had made the purchases, things would look much brighter right now!
kenj - You have hit the nail right on the head! It is just more "selective (deceiving) wording from the BOD! I don't believe there is anything happening with AST at the moment, that could lead to an increase in the generation of revenue. That is the big issue - No revenue - No company.