The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Just read that excellent article which sums up where we are. If your thinking of adding, selling or holding its well worth a read. Must say its breathed a bit of confidence back into this for me, wish I was buying this at 5p not 20p!
One thing I want to say is about AM and his comms. Now I`ve been invested here for a while its absolutely true to say his comms is awful in that I don`t think he has anyone to control him. All comms about next month whatever a JV, more oil etc , etc are fantastically optimistic and smack of ego and boasting. Lets be honest the world is full of these.
The difference here is though that he may just deliver the timeline is marching on, jv updates have continued and more oil is on the horizon. As ever with this type of share he could turn round tomorrow like ODX and more recently those robbers at NNN and say its all off and all been a pile of ****. That type of thought though in my mind on balance is more reflective of those other companies and the high risk strategy that is involved investing here. Another good point made this morning in that these two - AM and the CFO , I don`t know anything about him except he can`t be doing a good job if he`s letting a company sitting on a massive JV and millions og $`s of oil nearly run out of money and therefore trashing the SP . I`d be firing him. With the AGM coming up soon we`ll hopefully find out soon enough but more boringly might have to put up with the inevietable can kicking scenario. Although even having said that if I`d have ****** up the SP I`d want to something good to say to shareholders pretty quickly. We shall see.
The problem with this share is that that not many have much confidence in the CEO. To be fair over the last year we have had much news that should have boosted the price substantially from say 30p to 60p. CUDA, oil discovery, RS report, JV possibility, continuing JV progress, large director buys, even if you believe it consolidation and name change ready for a NASDAQ listing.
All the former are factual events that have occurred and the SP halved. Another 80% came off when the buffons couldn`t manage the debt properly and whoever wrote that RNS should be sacked.
So where does it leave us punters ?
Instead of the SP increasing on each good event as mentioned above its clear that the market has absolutely no confidence in COPL until we can actually show them the money in the form of a JV or/and increased production. This has been very, very unfortunate to say the least and most comapnies like this fail to produce any type of good news for years.
I`m of the opinion that actually the JV might happen (positive thinking, COPL was approached and the RNS `s have indicated that progress is ongoing and getting to the end stage) issue is that the BOD have failed to look after the SP by handling the financial issues. Thats why we are at 5 p and even with a 4 bagger I`ll only break even. And so will Art with the shares he`s bought!
Excellent post. I`ve often wondered and it was one of the reasons that I invested with UBS, lawyers etc all working to supposedly close the deal that never was. (And despite stuff from the BOD about other people have sold stuff they`ve taken so long now before and after the war. I don`t really believe this will ever go ahead. Like most of us I live in hope but thats it.
Undoubtedly all the advisors and BOD have been paid for delivering f*** all. Its a shambles and needs to stop. Lets be honest if someone down the pub told you about their £thousand special delivery they were about to receive and 8 years later they hadn`t they would be marked down as a right bulls****** or a fool. Lets have a statement from the BOD talking about where we are up to with sale if at all. Why it hasn`t happened and what are the chances of it happening in the next 6 months. This continual NDA stuff over 8 years is relevant when its relevant but not after this length of time when the owners of the company ie us want answers.
The truth of it is , is that any consolidation (and we had one not so long ago) is a smoke and mirrors effort to make £5 look better than 5p or 50p or 0.0005 with the accompanying consolidation. AM can do what he wants if he delivers the goods on the SP but he hasn`t and its gone massively backwards and therefore weve got a crisis of confidence in him and a massive one since the 65% drop. If we had confidence in the company and were told what the reason was and knew that AM knew what he was doing I wouldn`t bat an eyelid. However my view is tell us why this is needed and if you need it because its anything to do with JV or corporate investors deliver them first, tell us and then do it. Or do it all on the same day. Rodgering the SP once more is absolutely not acceptable and we need to know why. In fact if we were large shareholders you would be on the phone asking why, particularly after what happened last time. AM treat us with some respect, we want to come with you on this journey but you need to treat us with some respect.
A few interesting points here I've got £20k here at an average of 22p and have written several times about the unacceptable SP, decimation . (No doubt the BOD would say we had to inform the market but equally they have done f*** all to correct it.) That leaves a number of issues even a 4 bagger would put me even instead of nearer 80p. It also shows to me how little the BOD care for the investors here and good corporate management in putting a little effort into protecting this. After all a few well written carefully crafted bits of news would be helpful.
My second and less obvious point but has been touched on this morning is that whether there will be good news here at all. I think for many here and is for most a function of the human condition is the thought that positive things can happen (in this case a JV) despite much evidence to the contrary. The main pointer here is that despite all the pre announcements about an imminent JV it is extremely common for the sort of CEO s on AIM to say that things didn't work out and back to square one. Two other recent s***shows I've been invested in are ODX, 90p to 3p and Eurasia 40 p to 5 p supposed sale of assets still going on.
In fact it you were talking to your pessimistic self youd make comments like "How copl, going , did it get those Nigerian licences? , surely not another placing, now it's relisted at the SP can only move upwards, Ryder Scott report that should make great news another 50% upwards move, JV talks brilliant thanks for advising me to put the kids inheritance in this !"
Of course none of these things have happened, why? Because most people think this company is a load of hot air run by a charlatan, and will believe it when they see it.
I wake every morning looking for the great JV news and I believe it will come but I'm not so sure whether that's based on my God I need this to come true, Arthur told us it would come true, I deserve a bit of luck, simple belief in a positive outcome . Of course looking at what's gone on before logically your be pretty doubtful !
Good point MD, but as has been said before even if we get a five bagge r like mirriad we'll only be at 25p not ******* 80p to a £1 where we should have been . What ever happens to the SP, if it all does go well the starting point is so low that a lot of our profits will have been decimated. It takes most of the pleasure (and m oney) out of this holding!
The truth of this is that the BOD mig by have been awful with their comms. But if they can't sell the f+++++ because of the war then the're isn't much room for manoevre. I'm averaging 22 p so I'm just going to wait. Lots of people on here are understandably bed wetters. But what are we meant to do except wait. Could be next month cou
ld be two years could be never. At some point this idiocy will finish and then we'll see what happens!
Thought I'd come on her to see if there was any opinions on EUR shares, with it being a EUR board. Looked back 3 pages to find not one word about the share, but various opinions about the war which you could hear down your local. Any chance of anyone putting anything up about the share rather than how much p utin spends in Lidl every week?
I feel want to believe here that we are on the verge here of something half decent. Certainly being made unnecessarily complex (certainly in his poor communications) by Art.
However if you look at the recent facts there seems to be much news that implicates some type of (if you'll excuse the expression) happy ending.
We were approached by the JV partner AM himself has bought a lot of shares personally at a high price. (Whatever people say about he can just grant himself more ,which he can. Why bother sticking in £200 grand as he did recently to turn it into 50k . Why would the legal firm take payment in shares (He'll would freeze over before th ey lost money) Why would a household name like spreadex by 3% of the company. Plus the Ryder Scott report.
It certainly didn't sound to good to be true because we've all been let down by the BOD and how they've managed the SP. Also think where we were a month ago with many on here believing we were going bust!
Also I do believe we are on the verge of excellent news because the news is now coming thick and fast other s more knowledgeable than us like the lawyers have seen all the papers and had permission from A M to buy shares. I'm not 100% sure of the change in name of the share consolidation but they again seem to fit into the idea of projecting a company image of more gravitas and Certainly the lawyers and spreade x won't want their money being tied up in this for years like us mugs. and
If I hadn't seen the failing of your chair nonsense and all the jv is next week stuff it would hold more conviction. Though that's to do with obviously the sort of person he is is boasting about stuff that hasn't happened yet. Of course if this does go ahead than all that silly nonsense will stop when announcements have to run by a PR department and someone at Exxon or whoever will phone up AM and approve what he does and doesn't say.
My Mrs says every week how that Canadian oil share doing and I say just wait you've got to be patient. I don't know whether I think o r hope the above is true but for all the reasons above I'm beginning to think it might actually be true!
Caveat no doubt like some others on here I invested in odx, a covid testmaking company who told us that they had secured a £50 to £370 million contract with the government. We all waited and waited for 18 months and in the end the govt never drew on the contact and it turned out that they didn't even had to order the £50 million lower estimate. Needless to say the BOD sold their shares at 90p before the news when the rest of us got back next to f all.
Nothing's in the bag before you've sold the shares !
Whilst things seem to be lining up here lawyers taking shares expressed , jv, etc. Am failing to get excited about a possible 7p sp. Should be 50p. Trashed by the BOD. Even a 10 bagger would only be 50p. Should have been £5. A lot of us should have been making big money here not breaking even if we 're lucky!
Truth of this is , it's being badly organised. Two placings in quick succession shows lack of planning and contempt for shareholders. This should be financed by bridging loans, bank finance as if the orders are guaranteed then so will payment. This could of been done with out holding down the S P and screwing the shareholders.
On the plus side there's apparently massive orders in the pipeline and a special dividend in the pipeline ( promised 6 months ago!)
I don't think the next six months will be seminal for the company but it will be for my confidence in the BO D and whether they are the sort of people that carry through their promises . AIM as we all know is jam packed with dreamers, liars and bull****ters. I hope the BOD of T EK, don't turn into a combination of any of them.
So one thing needs to be achieved in the short term is large orders with decent clients for microsalt. That should boost the S P and perhaps the placing can be forgiven.
As for the special dividend I think thats a load of the usual s+++ just thrown out on a wim. What I would prefer is it's just announced and paid.
If we don't get SP boosting orders in the next few months then they'll have spent our money for nothing.
I've dealt with lawyers all my life. Underneath the veneer of we 're here to represent you rubbish most of them want to lengthen the job out as long as they can and deep down all of them from the bloke above the butchers to large corporate firms are only interested in their own fees. Anyone of them that will take payment in shares believe me won't lose out and for us punters this should be taken as a sure sign that we are on to something big/decent.
Only problem is that the S P is so low. Even a four bagge r from here will make the lawyers a fortune and get many of us to break even. There was no need to trash the s p to this level and a decent M D wouldn't have let it happen . That will still be true even if this ends up at a pound when it really should be £2.50!
Big, big problem here with the way the sp has been trashed. There are many people on here with averages in the 20s and 30s. the way events are described in RNS s is poor to say the least and my kids could write them more favourably.
Add to that the MM stance that took the S P down from 16p and left it there despite the problem of going bust seemingly solved.
The massive issue for me here is that even a four bagger let's say on in jv news still leaves many underwater. A four bagger from 16 p puts everyone in profit. Whe n you stand back and look at the way the sp has been managed by the company it's atrocious and every effort should have been made to get this back to the mid 20s before any if news.
That actually means a decent RNS once a month . Rather than nothing, a s***show , then an average one. Don't see why this type of communication is so hard when it's actually easy if managed properly with some thought!
As usual holders being mugged off. The last RNS 16p to 6p. That's now corrected zero movement in the SP. A right shambles.
Dusterhater said before should be at 50p if not 70p, compared to where we were and where we are now. Finances to be sorted 8p jv with Exxon 10p no doubt!
That's not true is it t their only income has been this £95k which will pay wages for a few months. You only need to look at the dismal previous RNS s to see that. Purely a directors lifestyle company , another placing due up. Lord knows wh y people even find this.
Ha ha, it's me again . Well , well , we couldn't have been more wrong £95 k in the bank! Seriously I can't remember the last time they actually banked any money though I do remember team badminton, big hitters and fortune 500 talks . The good thing about this share is at least I know this is a hopeless load of guff.
exactly! The other thing is why say it, if you can`t be sure it will be done under your remit. If it was me I wouldn`t even mention it I`d just RNS it and pay it. That`s delivering not we might, hopefully and in the fullness of time.
Two interesting pieces from JD and QD. I thought that tek was slightly different from most of the charlatans on AIM but the amount of continual placings and this latest one is starting to suggest otherwise. I think we all understand that new companies need capital to grow but equally at some point they need to start to deliver. We not so long ago heard about the payment of special dividends so I hope that isn`t a load of b/s . As usual the so called "working capital" will be used to fund unjustifiable salaries, which I don`t mind as long as the BOD delivers SP growth and this case the promised special dividend. Neither of which look very likely at the moment as the SP is less than halve the 40p it was a while ago. This year I`m fully expect (I won`t be holding my breath this is AIM !) the BOD to deliver a 50p plus SP and the SD. There is still much promise in this business and its an excellent idea but equally I`m sick of all the chat, placings and promises and wish the BOD would just do what they said rather than the opposite!