Member Info for barnetpeter

Rough estimate is that MIRI has about 17 to 18 million and no debt. It raised new cash over 60 pence last year. Current mkt cap is about 7.8 million, roughly 45 % of cash.

However City Financial hold / held 3.9 million shares and no idea how many they have dumped. Not many is my guess because this is so illiquid.

So I dont expect a quick rally and it could easily fall sharply again if CF dump more. I would definitely be a buyer of more stock if they do. Forced sellers are always a buying opp imo

looks dross...but am in for a punt at this price.

This is in effect a placing at 1.5p albeit wrapped in a different folder. The shares I have here are now at zero cost after this spike and I see this back at 1p fairly quickly. A lot of investors are still sitting on 200 per cent but that is going down daily now. Terrific stock may I add but for now it has had its run and holders should have cashed some out at 2p. Buy below 1.2 imo.

In addition, Cellulac Limited has the right to convert the loan note into new ordinary shares in the Company within 5 business days following announcement of the next corporate transaction that involves the issue of new ordinary shares in the Company (this includes an acquisition, placing or subscription for cash by the issue of shares) ("Corporate Transaction") in the period to 26 February 2021, in the event that one takes place. The exercise price will be at a price per new ordinary share equal to the higher of (i) the lowest subscription price payable per new ordinary share issued in the next Corporate Transaction and (ii) not less than 1.5p per new ordinary share.

Got 0.18 today having bought at 0.08 last month. Still well down on these and can only get my money back on these spikes. Just have a look at the long term chart and wince. Don't be too greedy here is my advice...loads of convertibles outstanding

I added today bringing my average to 3p. I reckon City Investment are out now or just about and this is the reason for the big fall; other stocks as well. My experience is that the best time to buy any stock is when there is a forced seller dumping hard. Nothing to do with the company...the seller needs cash at any price. We now need some big volume days to clear out the overhang and things will return to normal. About 5p is a fair price for these although we saw 9p recently.

Bought three times on Friday and sold three times today. Will keep the profit I made in stock; could be 1p or 5p on Friday. Who knows? This is real gamblers stuff I think....heavy stuff even for a punter like me

Dire results and 60p hit. Folk were saying this was value at a pound but they are now well down.

A further bid...at a pound maybe.....is possible but this is a mess and I could easily see 20-30p here unless management get a real grip on costs. Which currently they are not.

Atlantic CoaL ((now carbon). Delisted three years ago and the company is now booming. Unfortunately, the shares cannot be sold, the BoD have increased their renumeration packages substantially. A number of offers made for the company did not proceed and we as private investors can do nothing.

FRR can now dilute as they see fit, pay directors as they see fit, sell out for a pittance if they want. They can ignore current shareholders and basically do as they like. Not all delisted companies do this btw...... some have proved decent investments albeit many years later. Somehow I doubt FRR will be one of those.

Big discounts please! I did think MAm email tonight was poor.....

I am waiting for all the offers.....

announced today. A real shame. "New" shares sites wont offer L2 or even streaming prices.....no good for traders. So I guess AFN will attract a lot of new paying PI's. Probably why the price rallied

The deal today makes a huge difference. The company has plenty of cash and some assets but this was balanced by the long term debt. That is shown on the balance sheet. A lot of that debt was retired today so the company still have the cash and assets but now a lot less debt. The company had to issue new equity but at a huge premium. So the company value has increased by 6 million...,at least on paper. The company will book a huge gain on the yearly results. Say you have 10 million in the bank but you owe 10 million to a second bank. You have nothing in total. The second bank say to you give us 4 million in full settlement of your debt. You pay them in full,,,,you now have assets of 6 million. Very unlikely but maybe the company involved here made a huge profit last year. They have now made a big loss on this investment....offset against tax in a profitable year.

Someone knew and someone was selling this short imo. the oil may be there but mkts dont like Directors fighting and decent ones resigning .....and this dubious funding. At least volume will not be an issue....

This may well recover in time if the oil is there but who knows who the management will be?

.

"Angus Energy – sheer AIM Casino comedy with Lord Lucan unless you are a shareholder in which case a tragedy"

Lucky Lucan?

When Malcy calls this a total shambles....He is normally a big supporter of small cap oil explorers

"Angus Energy- You couldn’t make it up…

When I read the Angus announcement I thought that I was in some parallel universe, I’ve heard a lot of pony in my near 40 years in the sector but this takes the bacon. Ex Chairman, who left for a good reason as I remember, trying to sack CEO and replace him with Lord Lucan and Adam Habib which immediately prompted the resignation of Rob Shepherd (which is a very telling indeed). As for the financing and the £3m facility the less said about that the better. What a total shambles, whatever the quality of the asset this looks like being as close to uninvestable as it gets, your call…"

for the moment. Jan and Feb will be slow and full of returns I reckon. Look at G4M for a highly rated net retail stock...all the rage a year ago. Down 75 per cent over the year. Ditto WEY education...down 82 per cent over the year.

These start up sites can soar ...for a while. Keeping the sales after the big offers and competition looks at you is tough. This is high risk!

https://www.malcysblog.com/2019/01/oil-price-premier-petromatad-angus-aminex-and-finally/

Never known such a comment by Malcy. He has a huge following and is a specialist in oil.

Things must be bad for him to say this.

Raising more cash through a death spiral (that is what it is; big volume needed to clear this) but a real boardroom battle is costly and time consuming. How many will back Vonk? No idea....it might be that some of the bigger holders will vote against.

8p coming here and soon.

Funding sorted and a tiny mkt cap. BV tech is getting nearer to 70% now and will do so if and when the further loan is taken. Company expects to be cash flow positive this year.

It clearly suits all to maintain the listing. We dont know why......they could easily get agreement to delist now if they wanted. It might be they have a plan to sell DFX on in time as and when it recovers. It was 200p a year and a half ago and they might be taking a longer term view. A listing is always helpful of course but does not come cheap.

A bit of a mystery......but then I bought a load in the last placing at 8p and they soared to 34p briefly so I have some at no cost. Even bought some more below 8p. Limited free stock around and on any decent contract news we will see a real spike here.