RE: Non Gulf Oil21 Jun 2019 12:32
It's certainly frustrating but macro economic factors don't really play into the scenario that's unfolding.
The prospectus refers to certain 'activities / ways of conducting business' in the region, that could potentially put the company at risk. Some commented that such inclusion proved the company were not involved in such. I see it as quite the contrary and accept that any business dealings in that region, would be heavily reliant on 'inducements' etc......at all levels.
The size of the recent placing just seems to indicate that Art has no real idea of the timeframes that may be involved for resolution of the necessary issues - it could be tomorrow or much longer.
It looks like corrupt individuals and a similar system, masquerading as beauracracy, that's holding up progress.
To me, that potentially includes Shoreline themselves (their Govt. level influence should surely have borne some fruit by now). I'm not definately saying they (or even Art Millholland) have complicity in such initiatives but point out the possibility of such, within current and future developments unfolding.
What 'Corporate Actions' would entail, if further Equity raises were found to be problematic?
I'm still invested, as we may yet see a succesful resolution to the situation and if such, the Upside appreciation v Downside loss, make this a compelling hold - however, accepting the high risk also attached.
I also find Art Millholand to be less than credible in his dealings with wider shareholders, his PR statements (just prior to the Placing) being just one example of that cynical attitude he has......along with the generosity he bestows on himself regarding his own remuneration and inability to tackle overheads.
I see him as untrustworthy....imho.
Let's see what transpires however!
Atb all
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