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People were saying it was worth a punt at 4p, then 3p, then 2p. etc..
AS is a fast declining asset and they can't get the money from it currently in USD. I think you're getting a little carried away with your valuation of it.
Pretends to be shocked. The world's greatest oil resource and people aren't interested. More jam tomorrow in the RNS as usual though.
I await the UOG tinted glasses brigade to come on here soon and tell us how honest Brian is, that he's doing a great job and earning his ever increasing salary and that his statement sounds really positive. After all, I'm sure it's not his job to put a positive spin on everything.
The Dog Father. Are you there?
Can't say this fills me with joy. A discount placing for just $4m. Feels like a sticking plaster.
It's very concerning. I don't have much hope of these resources ever being brought to production stage. Everything that has happened so far just mirrors lots of other junior miners on the AIM market who just exist for years before eventually winding it up.
I'm sure people will point out the value of resources etc.. Well, if you can't get the money to develop them or the value of them drops then they're useless.
I hope I'm wrong as I have a decent amount of cash in this company.
They won't be told jono. It's all still looking promising when you're wearing those UOG tinted glasses. Ignore you pointing out that they have held this license for years and all of a sudden they need to do more technical work on it and the fact that they can't get cash out of Egypt and the production is declining.
I see no green ticks anymore so I'm assuming TDF/FFD has finally stopped trying to ramp this slowly dying company.
My thoughts exactly. Those Telegram groups are terrible. As you say, if you don't follow the narrative of everything being rosy you'll be out before you know it. Surrounding yourself with people who will tell you what you want and never touch on anything else is a very dangerous game. You're not going to get the full story of a stock from a telegram group.
There is a decline in production. We all know that and as far as I'm aware, they're currently not doing anything to stop it. The next spud was supposed to be September. Then they said October. Now it looks like it won't be October either.
For balance. I will say the financials were not as bad as I thought. They weren't good, but I thought they would be worse
The problem with UOG is that for a long long time, it's been jam tomorrow. Nothing of note has happened. Any good news has been outweighed by bad news. And all the time, Brian is still taking a massive wage, regardless of the lack of progress over the years.
I doubt that. More like 15p at the end of the day.
You mean capital letters don't influence the share price? scmdcyp and his rampy friends will be disappointed to learn this.
Thought the same myself sham. Although I feel for genuine holders, I'm loving the thought of the horrible scalpers panicking because this just continues to fall while they're shouting that it will be back to 40p in the next 5 minutes.
Ha ha. In your rampy dreams
They're not though are they Tyre? Otherwise this wouldn't be down 15%. Try ramping somewhere else.
I guess it didn't need the news to go below 1p.
It's not going to make good reading and I'm sure the SP will drop below 1p after people see the money is drying up.
Of all the trash posted on the LSE forums, me saying I've written off my investment is one of the most stupid? I'm fortunate enough to be able to leave this money in IRON. I've come to the acceptance that there is very little chance I'll see any profit but I'm happy to leave it in here on the off chance that this does come good.
The drill that all the fan boys told us will be in September also doesn't look to be happening. Surely something would have been mentioned about it by now if it were going ahead on time. But as me and you have said Jono. Where are they going to get the money to do it without asset sales? It certainly isn't the supposed cash cow that is Egypt.
Is it. I hold here but have written off my investment.
Investors lining their own pockets with high rate loans as well as arrangement fees and warrants as part of it.
As another poster. Everything is always a few weeks away until the next set back
The most telling thing though is the lack of numbers. I have NEVER seen another reason for companies not to out numbers in their RNS unless they don't want you to know them because they are poor
Agreed Dicko. It's not a good sign that there's a leak like this. Clearly every man in the know loaded up yesterday and have/had offloaded this morning for a quick profit. Very frustrating.
"I don't disagree with people saying Jamacia would be game changing"
I said that. I don't think it will happen but if it did it would be huge if terms were favourable.
If I thought there were something positive about this company then I would say so.
Egypt - Can't pay for itself. They need to sell assets to fund drills
Maria - Sale to quattro will fall through soon (IMO) and I can't see anyone buying it anytime after that as any buyer is going to want to do their own DD before even making an offer.
Jamacia - Never going to happen in my opinion. If someone big wanted it then they will just wait until the license expires and do it all themselves.
Then you have BL taking a massive salary. For what? UOG just own a stake in Egypt, they are the not operator. So BL has been raking it in for years and all he has accomplished is to keep the SP on a downward trend and sell off some small (2 I think) assets.