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I am failing to see how we have been robbed as some are saying. They have valued the asset at 25 million and issued shares at 12 pence. If we are buying scrap and the ship/boat didn't look like scrap to me and it has a useful purpose at some point in the future for somebody it is an assett. However if the board are just conning us PIs and issuing shares for rubbish with no value surely the share price reduces. If the share price reduced to 8 pence then that vessel becomes worth 16 million so the BOD and the seller must be confident that the share price is going to increase. If the share price increased to 24 pence and the seller off loaded his shares he gets 50 million for his vessel. Great who gives a **** if the share price has increased to 24pence. The only way the seller wins is if he can either sell his shares for 12 pence or greater. I don't see the problem or perhaps I am looking at it wrong but I don't think so.
Hi George, I hope you are well. I haven't posted for a long time. Realistically when would you expect a deep to flow. A5 still has 200 metres to go and they haven't given us any metres per day figures to go off. They have been preparing A8 for weeks now and not got there, I know it could be relatively imminent but I would guess not for a week or two. So if they complete A5 side track this week looking at the clean up period for A8 that won't flow until at least the end of October. My view is to not expect too much until end of October or even into early November. What are your thoughts?
Thank you for the explanation. That makes it a lot clearer although it hardly seems a level playing field but I suppose life isn't always fair especially when money is involved. I hope you are right and the seller has now finished.
Adrianz, hopefully you can explain because what I don't understand is how is the seller managing to get so close to the purchase price when if Joe public sells we only get 5p. The matched seller is always getting way over the bid. I am confused how it works.
Can anyone explain in layman's language please.
Hi George, are you actually saying nothing is happening in reality because they have run out of cash? I thought I was doing ok buying back in at 6.16. Wish I had kept the money in the bank. This is reminding me painfully of BMR which was full of promises. All turned out to be lies and MA couldn't be prosecuted because he had Alzheimer's disease. Couldn't make it up. At the moment the only thing keeping this alive is the shallows and I am starting to wonder if they are producing what they say.
Yeah I know this is to stagnant for T trading but I bought some a few days before I had to sell so have a decent few paid for which I will leave for six months or so and hope this year is the year. You never know lol.
I had to sell 150000 T20 a week ago and the MM would only take 100000 at 6.1 so had to pay for the 50000 left over but on the same day he told the stock broker he would sell him 750000 at 6.16 so I would say we have a big seller in the background. I agree with Richy all these 6.16 trades are buys and my 100000 sell never showed up on here. The only bonus for me was I bought some a few days earlier at which I would hope this is rock bottom but you never know. It is Caspian.
Still look in everyday hoping for some progress. Not actually in, sold probably eight months ago. Same old twaddle though isn't it. After one drill and two side tracks they can still mysteriously find metal objects in A5 after a successful side track. It's still remarkable how some think they are going to remove a metal object in a few weeks when it has taken years up until now. It has taken since xmas to actually achieve nothing on A5. I sincerely hope it comes good soon.
Dave I always call CC George because I am sure he is one of the George aliases that FK kept having banned for no reason other than not agreeing with him. If I am wrong CC please correct me.
No, not at the moment. Got fed up after the xmas / January RNSs. Waiting for the next RNS and if it's good will jump in but we will have to see. Just thinking the other day that I can't believe it's a year since Clive went on his PR campaign with two hopefully three deeps flowing by xmas and still we wait. Surely it must happen one day. Still keep an eye on the board most days but been a bit of a damp squid lately.
When I read the presentation I concluded that it was only the shallows they were getting the production licence for in June/July and that the deeps were much later in the year not in June. Also I think fizzy said correctly that originally they said the test couldn't be done open hole because the results couldn't be attributed to the reserves. They also said that's why they were side tracking 801 because there was no point testing open hole with the pipe stuck for that reason and now they have said they are testing A5 open hole so more confusion and contradictions.
The calm before the storm lol. I don't think anyone is expecting anything until after the 24th hence why so quiet.