Member Info for bluemango

We shouldn't underestimate the previous negative impact of them 'running on fumes'. Historically, having to penny-pinch on operations has clearly impacted on their ability to prove up their assets (and, this being Kazakhstan, possibly also to 'smooth the wheels' in getting the necessary approvals on a timely manner?)

But not any more - see the following:

"At the date of these financial statements the Group has cash of approximately $23 million, which is significantly in excess of the Group's financial commitments over the next 12 months"

"Accordingly, the Board for the first time in many years, no longer considers there to be a material uncertainty regarding the assessment of the Group's financial position and have adopted the going concern basis in preparing these financial statements"

Here's my copy of the original post, but with the shareholder name blanked out (which was the only bit not in the public domain)

Interesting post which I hope Adrianz won't mind me copying here. I'd just add to this, it's highly significant that the company is now, for the first time since I bought my first shares here, in a position of having enough cash to decisively develop the existing assets, in a timely manner.

Here's adrianz's post:

"I think this time KO & CC will definitely try to build value. Dividends, BB, shareholder presentations will all happen.

It's not just us who are unhappy, The ***** family have brought a claim against the company for 25mil for selling MJF without their approval.

They are unlikely to win as the sale was approved by everybody else. They only own 4%. However KO & CC won't be wanting to make enemies in their new home. I see it as a positive that ***** will be putting the pressure on KO stop effing around and deliver and give him the returns we were all promised.

***** bought at 4p so he won't be happy until it's double digits"

Strange if they got touchy about it, particularly as they highlighted it themselves in the interims and it's therefore in the public domain (apart from putting 2 and 2 together re the identity of the 'UAE' shareholder)

Fwiw I copied your post onto another site; we'll see if it gets removed from there too ...

The single word 'gullible' in this case is not in fact the counter argument you appear to believe it to be; you really need to try harder.

To the contrary; a sensible outfit seeking to incentivise key workers in shares; if they produce the goods, their reward increases and all shareholders benefit as a by-product.

Excellent.

Mrcautious, either you didn't fully read the rest of my post, or you're being deliberately obtuse.

I explained precisely why I could be happy with today's modest rise (only the first day of re-listing, after all), given the myriad of doom-mongers who have been going on for most of the suspension period, about how desperate they were to exit. And therefore the level of trader selling clearly going on today. Presumably you're also out now, along with the rest of them?

Somm, good posts, agree with all you say, including your preference for them to put all resources into proving the existing assets before pursuing new ones.

Happy with today. Bought fairly substantial amount early on.

Given we've known for the several months this was suspended, that many were desperate to get out as soon as it was relisted again (including those who never intended having their trading cash tied up and unavailable for so long) then today's performance was perfectly fine and a good start to the remainder of this year, with many potential prices drivers to come in the coming weeks.

We knew those people wanted to get out asap because they posted incessantly for the last few months telling us so!

Hopefully today has therefore 'removed' a good few stale bulls and taken on new blood.

Onwards and upwards!

Good to see you back, Somm.

Somm, you ok mate? No posts since 11th October?

Do hope you're fine and looking forward to the fun & games between now and year end.

For those applying for the basic entitlement only, are you assuming you'll get that number of shares regardless, even if the issue price ends up higher than the 'indicative' 1.1186 and therefore the originally calculated total cost becomes slightly more?

HL refer to it as a 'guaranteed entitlement' so I'm assuming the number of shares wouldn't be scaled back, you'd just ended up paying a slightly higher total cost. Anyone interpret this differently?

I've decided to do both; taken up my basic entitlement for the Open Offer, plus bought a slightly larger amount than that, in the market earlier today. Comfortable with this company and their strategy.

I reckon, taking the dividend into account (Open Offer shares probably won't qualify for the next quarter dividend of 2p as accounts will likely be credited after ex-div date), plus the indicative price which is a discount to current market price - I think the difference is negligible but might slightly favour the Open Offer (rather than buying in the market) when taking into account dealing costs.

I think we need to temper expectations short term. Casp do not exactly have a reputation for moving quickly 😄 and it could be a while before they start getting drilling results again etc.

There was also no mention of the hoped -for buybacks or special dividend, although they could still come later this year when they know where the new funds are allocated.

Finally, there are plenty of stale bulls here who will be looking to exit even on a relatively small initial spike.

Longer term, of course, the skies the limit - although we've always known that and many are now jaded by years of waiting.

Excellent news.

I'm surprised no comment yet from Gritser, who's normally so very vocal on here.

Perhaps they're still in bed and haven't seen the good news?

Yes.

Any significant updates will be RNS'd, regardless of suspension.

Lamoroma24 - special dividend looking less likely judging by Clive's comments at AGM, as their strong preference (out of the two) is buybacks. I can see why, probably the better option for long term gains, much as many of us would like a special divi ...

Nice, 300k buy reported after the close, which finally lifted the bid.

Doomsters can post what they like now, can't unsettle any more people or inadvertently persuade them to sell, as shares now suspended until shallows dosh is received ...

Gritser can be as negative as he likes, really get it out of his system and go for it! lol

CC made it crystal clear there will be no delisting from Aim. No need to keep bringing it up, it's not an issue.

Exactly, DM.

A two month suspension with price transforming news in the meantime will be just fine, thanks. Looking forward to that coiled spring prior to re-opening.

Clive's comment was just in response to a specific written question from a shareholder.

He's right to point out the large mismatch between lowly market valuation and the undeniable quality of the assets under licence; a situation partly brought about by the illiquidity in the shares, tiny free float therefore strong moves caused by small number o leveragedf traders etc.