Member Info for CaneToad

"Fook me another blind investor jumps in feet first asking about current prod… DYOFR."

Blind, is investing when you don't know WTF the daily production/costs are. I'm asking those... I've not invested a penny yet. I don't care if the CEO has three ears and an extra ******** if he makes money for the company. I don't yet see anything here that can't be replicated in bigger plays, such as UOG and I3E, which they offer at far greater safety, but the nano size and the fact that they're producing some revenue interest me.

Bottom line is - once certain firms arrive in the shorts list, they are not leaving until they drive the share price down to a very low level. They're the same guys on the job over at Boohoo and Asos. Th egoal is to compress the share price so low that they can then close their shorts and ride the wave up with a large long. In the meantime, prepare to be robbed!

The 'selling pressure' is a sustained attack by people who run algos to manipulate a share price with the FCA's blessing.

Somebody needs to sue the FCA; incompetent and totally unfit for purpose. Of course, if you run the same algo, you'll get a letter telling you to stop doing it or risk arrest - only certain (approved) firms are allowed to steal from private investors.

It's very simple and obvious how they do it, by using published API functions in the L2 data API for the exchange. These functions (spoofing/removal of orders etc.) were added by the exchanges, with the specific purpose of making more money for certain firms. It would make a nice BBC investigation - how people's pentions are raided by (very) fat and greedy cats.

I expect nobody here will understand a word of what I'm saying.

Fu*k me. That's small... but obvioulsy tiny means it can move fast.
What's their per barrel production cost?

Looks interesting, anybody able to confirm current production, net to NTOG?

Sure; just pointing out the crazy US stock valuations. Almost everything US is over-priced. I'm not sure MYX will support a pe of 30; I'd think it's more likely to slot into 8-15.

"Let's see the steel of those who are shorting.. "

I'm shorting the ARKK fund via put options. I don't tend to short individual stocks.

Where do we go? Like you, I'm just guessing.

Once the market believes that this is the start of the next BTC rally (on the balance of probability - I don't), miners will explode.

It's crazy when you compare MYX to some of the tech. stocks, e.g. Docusign, which produces a software utility to add a digital signature to a file. Docusign has a mkt cap of £18b and has never made a profit; P/E is 60. While MYX has several products, including a patented one for PFAS removal, which has now finished a successful trial in the USA; mkt cap is £13.5m!

Biden is allocating $10b to PFAS removal.

Clearly hardly anybody has yet heard of MYX.

"A peek at the 3 month chart shows that the SP stinks ! What is going to prevent further loss here? Why does crypto loss seem to be magnified in this share ?"

Miners of almost any commodity behave roughly like a call option on the *future* price of that commodity. So when gold dipped even a little bit from its ATH in July last year, almost all gold miners halved in price over the subsequent months. Because people believed the *future* price of gold would be much lower. They've not yet recovered. If gold was to rise 10% (a lot for gold), I'd expect gold miners to move up 20-50%, depending on how geared they are. It's a similar story for bitcoin miners. If they're not moving up with bitcoin, it's because the market doesn't see the *future* bitcoin price any higher than the current level.

That's just my view. It could be 100% wrong.

I agree, sometimes it's quite liquid and the spread drops to nearly nothing.

From what I see (maybe I'm wrong), the current production is 376 boepd. mkt cap is ~£9m. Can somebody explain why this is worth a market cap of £9m, when companies like UOG produce 2000 boepd, with only twice the market cap.

Correction. 32p in 2022. And dropping.

The chart is terrible, pointing to the share price imminently dropping back below 30p. Without some good news, I can see it re-testing the low 20's. I am very rather annoyed at the destruction of shareholder value inflicted by the management. Only a fool would not see the value destruction and not do something about it.

@GingerHippo: thanks for the info. I removed my earlier post, as I had some of the dates mixed up. Anyway, I agree, this is ridiculously cheap and they should make a nice profit this year at these prices, if they can show they're maintaining or building production levels.

The spread here is very offputting. It's not great to lose 10% of your investment within a few seconds.

This indeeds looks very cheap, with a solid upside. Does anybody know if there's any direct Russian exposure?

From what I understand, half of BP's hydrocarbon reserves are owned via their stake in Rosneft - I sold BP last week for that reason.

Hey, no need to be negative. At least they now have a map!

@Chaebol. I expect it's just following the nasdaq bounce. I really doubt that's the end of the slide. We're seeing similar action most days. Institutions dumping in large volume and retail buying the dip. Way too dangerous for me. Looks likely to be a bull trap, but good luck to all those who had the courage to enter the ring!

@poorinvestor. "Crypto has become too big to be manipulated"

So how did Nav move the entire S&P500 - which is 20x bigger than the whole of crypto? He was just on guy, self-made. To my knowledge, the exchange API's never changed after that event. C'mon, stocks are manipulated every day in clear view. I'd bet it's 10x more widespread in crypto land, because it's not even regulated.

FYI. I'm not knocking it. It is what it is.

"Nobody wants Bitcoin for any other reason then to get a sizeable return in fiat currency."

True. But that's also the only reason that 99.99% of people invest in stocks.

@poorinvestor. "Criminal gangs don't have the money to manipulate BTC"

Tell that to Navinder Sarao, who the FBI claimed, caused the Flash Crash. FYI: that's a good read. That was just one guy, sitting in his bedroom in West London. After Flash Crash, every hedge fund and their dogs are doing the same.