Member Info for Broomfielder

My investment decisions are driven by research, fundamentals as well as an ear to the better informed posters.
For many many years, it has not produced the sort of results I was hoping for and while this has improved of late (no doubt in line with the wider market), it is pleasing that my investment here is motoring nicely.
Thank you UJO.

Despite my previously expressed unease at retaining my full holding in Clon, needless to say the recent modest increases in SP have helped greatly.
Todays more robust increase (thus far), really does give a hint of what this SP might do once Ratification is received.

With T Anderson's latest increase in his shareholding, he is clearly not just seeking greater influence within the BoD, but to guide its future direction. His nominee last month (B Timmons) was after all to 'add perspective to the Board as it seeks to develop its business'.
Whether this direction differs greatly from Ormonde's current business is of course open to speculation but with no current BoD members holding shares and no other material individual shareholder (listed), whether TA needs outright control to achieve his objectives is debatable.
The existing gold interests Orm have failed to achieve any buyers previously and whilst gold prices have firmed considerably since then, I get the impression that the current re-evaluation of these by the BoD is merely a stalling tactic to deflect attention as the power play works its way through.
As has been mentioned previously, Orm's current AIM listing coupled with its cash from its Barruecopardo debacle was always going to be an opportunity for someone with vision to exploit.
The fact that nothing by way of alternative proposals have crystallised in c5 months since the exit from Barruecopardo (albeit acknowledging the difficulties caused by Covid 19), hardly suggests a dynamic within our BoD. LTH's holders know this only too well.
When there is a vacuum you can be sure someone will soon fill it........I just wish they would get on with it!

From my experience, the biggest problem is common to most AIM stocks, and that is the real difficulty PI's have in securing reliable and detailed information about their investee co.
Its truly a world away from a FTSE presentation when management data and all kinds of financial information can be made available. As well as the chance to question senior execs.
So the kind of vacuum that AIM investors operate in tends to result in (some) people placing much too much reliance on bb opinions for example.
If we are all as naive as that, maybe its little wonder why you constantly hear of people being taken in by all sorts of scams.
As others have said, you have to at least attempt to do as much of your own research as possible allowing you then to evaluate the 'worth' of any contributions you may read on a bb.
Surprising as it may seem, there are some very informed participants if you can only just identify them.

I think that prospective investors are beginning to realise that the last 'requirement' before this share re-rates could happen in the very near future.
Amidst the Covid lockdown and embargo on travel, I admit to having voiced doubts whether I could continue to justify Clon as one of my larger investments but a lot of strong and sensible contributions on this bb reinforced my own research. Those contributors have my thanks.
I am now actually considering a further top up to lower my average sp before it rises much further.
All the best.

If we believe that the UK has basically got to revert to what it is/was good at, then manufacturing and heavy industry has to play its part.
For too long these areas were abandoned to other countries' subsidised entities which over time were allowed to eclipse the UK's former areas of success.
As we emerge from the Covid induced shutdown of our economy when allied to the increased risk of a no deal Brexit, it provides the Powers that be of a once-in-a-lifetime opportunity to really do something different. Lets face it, they have little alternative.
Rightly there will be focus on the sexier elements of the economy such as biochemistry, hi tech etc., but there is a place for the INFA's of this world, and I think this is finally being recognised.
Jobs and industry across the country have to be diversfied in order that we don't become over dependent on certain sectors or countries (via raw material supplies or components etc).
As islands, you would think it common sense we should be building and repairing ships and other maritime capex. instead of always relying on others.
So I believe this time around, INFA will get the support of Gov funds. Timing as they say is everything and whilst noone would have chosen to launch in the midst of a global pandemic, this could actually be their deliverance.
Apologies.....it wasn't meant to sound like a political broadcast.

And, to be fair, it is justified given the position Boil has won for itself.
Not only that, the transparency of the value to our Co and potentially the very short timescale in which a deal can be done here, for me, really sets this opportunity apart.
I've been involved on and off with this Co for many years (in its previous guises etc), but this latest opportunity is in an altogether different league to what has gone before IMO.
All the best.
B

I accept it may be futile, but I hope everyone will be raising issues to be aired at the forthcoming AGM. Theres little point in venting concerns on this or any other BB without at least making the effort to put your questions to the BoD.
C'mon, lets surprise ourselves and create some waves. Who knows where it may lead?
Maria Bravo at Rur is coordinating matters.
All the best.
B

I think people are beginning to realise this is not just another 'pump and dump' stock, but one which has a very good story to tell.....and it shouldn't take long for it to really start producing a very juicy newsline.

I have voted against Coveney's rapacious remuneration and I have raised questions (for the virtual AGM) about forecast liquidity / cash position of Rur at end June.
I have also sought to clarify the BoD's intentions on Interim and Final Dividends (at the appropriate junctures for payment etc), provided Rur's cash position is deemed sufficient to meet actual / projected overheads.
I suppose you have to pose the questions etc....
B

I think as others have said, its fairly rare in AIM to get a PI's checklist boasting informed and capable management, where shareholders are kept updated and where there is no debt with (hopefully) minimal risk of dilution on the immediate horizon.
When these are allied to imminent income generating assets, it significantly moves the investment in a relatively small oil explorer into a different category for me. One where there is a substantial reduction in risk coupled with the potential for incremental growth in SP through successful working of its assets.
The only area where I am not as clear (and I don't know if others can help here), is on medium term strategy - does UJO move away from exploration to become more of a producer or whether disposal of certain income producing assets are seen as a way achieving greater shareholder value and/or releasing capital for further acquisitions for exploration..
B

Can't disagree with that Shatter....and as if the Covid tornado and all its effects weren't hard enough to deal with, I don't think anyone knows just how difficult it will be if we add Brexit to the mix.
Coupled with the increased protectionism EU and many countries will be adopting, the UK's economy looks as if it will face its biggest challenge since WW2.
It might help if we had a genuine leader among us (irrespective of what party etc).
B

Thanks everyone for such a helpful and constructive exchange of views here. It does make refreshing change from other bb pages etc.
I must admit to wavering a bit in my holding, being substantially down on the current SP and I had hoped to reduce my exposure here a bit leaving the rest long term.
However, your helpful remarks reinforce my own research and I guess I have to become more patient! That isn't coming with (my) age, I hasten to add.
Rgds.
B

Ashmark - I really hope you are correct on employment etc. I fear that we haven't yet seen the true unemployment figs and won't do, until the Gov furlough scheme runs through.
That, and that fact that most jobs seem to be shed once any recovery starts, could still bite many yet. I hate to be so pessimistic, but can't avoid all the signs etc.
As for the clamour for Banks to support the economy witnessed earlier in the Pandemic, you can see the start of the results now when the majority of Gov Guaranteed lending will never be repaid according to reports, nor, it seems was ever the intention to repay (even according to many of the borrowers).
Its not often Banks are shielded from this type of exposure (although their other bad debts will increase hugely), but its always the story you hear about lending - everyones an expert and much more should always be loaned out with the Banks not supporting people/companies etc.
Just don't ever ask for your loans to be repaid - thats just ridiculous etc.
Never a headline you will ever see in many newspapers etc.
B

Optimist - Well, if the profit for the current year should be quite healthy (if we 'set aside' the subjective issues such as asset write downs and currency provisions etc) and I am not disagreeing with you, could it just be possible that the BoD might declare a modest Dividend?
It would no doubt take some pressure off the Directors and the ridiculous salaries they pay themselves especially if they allude to further/greater distributions in future.
It would also serve the Admin of our largest shareholder, ST. An entity that would normally have been placed in liquidation long ago, so there may just be a chance of funds being distributed which would justify ST's Administration continuing.
If I am being honest, I think I am writing this more in hope than anything else.
Rgds.
B

...for at least the short term.
The 'leaky ship' has been patched up with £ notes from the successful placing and the SP is now positively responding.
Now the shenanigans are out of the way, we can get back to assessing the progress of our Investee Co. and it appears to be motoring strongly.
B

The nature of Infa's business and the types of deal it will have to stitch together, do not lend themselves to a quick payback.
That may dissuade the 'get rich quick' brigade from getting too excited and thereby act as a drag on the SP's upward trend in the short term.
However, this business has a clearly focussed plan and it will exploit both the assets and resources this country has sadly neglected over recent decades. With the Gov looking to grow the UK economy post Covid-19 lockdown, this will in fact act as a boost to our BoD's overall gameplan.
B

Yes, Academy, consolidation (in a Corporate sense), in an area of proven resource is not unexpected.
Its normal and thats why so many GGP investors are probably even today, pinching themselves to see if they really have bought a winning lottery ticket.
I think they have, but only patience will reward the genuine investor here as we never can predict the timing etc.
B

Its no great surprise that when a Company's SP goes into reverse (and in AVCT's case), a very sharp reverse, that just like so many other Companies, its bb descends into chaos and general back-stabbing.
Rather shows human nature up to be what it is unfortunately...........even when we are all supposedly investing in a Company which could just benefit humanity as a whole.
B

The picture outlined in the 2019 FY accounts along with supplemental comments outline the long suspected game plan of our major shareholder Sterling Trust now in Administration as much as it does our BoD's dynamic strategy.
Once the Share capital reduction scheme is completed, RUR could then become an income source via payment of dividends (or share buy back).
The success of this scheme is however wholly dependent on the unstable economics of Argentina which could yet undermine these plans (as could any business Interuption to EdS which has of course happened previously).
The cost of conversion from Argentine Pesos to US $ and presumably £ is punitive (40% was mentioned and this could increase with the Pesos further devaluation).
There is also the Exchange Control limitation on repatriation of funds - this could effectively limit the sums permitted to taken out of the country etc. never mind the cost.
On top of that, EdS will shortly (from September) face reduction in its income as a consequence of payment for its energy switching from US$ to Arg Peso. There is also likely to be a Tariff reduction in the sum per unit bought by CAMMESA which is also struggling for liquidity as part of the Gov.
However, post year end events refer to £774k in transit (to RUR)....but that may have to go toward the still high £1.2m (at last count) for Admin and General Overheads.
At least there is a prospect that it will be possible in future for shareholders to see a benefit if the delicate house of cards that is Rur's Business model holds together. Further deterioration in Argentina's economy and a drastic reduction arising from September's Tariff review could blow everything seriously off course however, quite apart from depending on EdS turbine keeping working.
Finally, you could almost be cynical and suggest that some of our written down assets which have proved impossible to sell thus far, might just become saleable now that a pathway for funds flow from EdS to Patagonia Energy and on to Rur is not only documented but perfectly legal post capital restructure.........perish the thought that could occur!
Make of things what you will.....
B