Member Info for Castaway

Who is this "good friend" WatchMaverick? Don't you mean a shareholder asked him? - cannot see a "good friend" posting it can you?, that would be well dodgy!

The way the RomGov works means they are not concerned about legal action - as we know the legal system in Rom is extremely long winded with endless appeals possible - it is not likely we would ever go down that route and it would be a last resort. Look at Gabriel Resources suing them for $bns over Rosia Montana - it will take years to go through the process and cost $millions

FWIW - looks like there was a seller in Canada and the MM's here tried to mirror it - it didn't work

.75 per pair of socks is a decent price IMO Seriously it was all over the place - someone still selling but not below .75 ish - looks good for next week I hope 1.5-2p is on soon

George - I am sure they change their tactics on new info - WTF do us blind investors actually know - have faith in the management or sell - I would if I lose it and I still may depending on what occurs in the future - basically none of us know do we? - it's a matter of faith in the management and if yours has gone then why hold?

Ducatti - this is a new type of play - they thought horizontal was worth a go - jesus, this is going to take time - it's an early stage gas/oil play I think your expectations are too high - the AIM market is highly volatile on very little actual financial substance being involved it is all speculation - look at 88e Mosman UKOG etc. they all go high low high - IMO PANR will get to a quid fairly soon.

No - it is not this is one of the better ones - I could write a book on shit AIM shares ;-)

I do Ducatti and IMO you are being too harsh - anyway we will see, they have serious hydrocarbons in the ground and they need to work out how to get them out, if it was that easy it would have been done ages ago wouldn't it but easy oil/gas is gone and now it's harder.

bucket list is out for 2018 - Very positive about ECO - he reckons T/O within a year! https://www.youtube.com/watch?v=cRaqXOzK0_Y

Mct, it could still hit 9 or 10p - but the BoD are naive or worse taking on this funding deal - they may know how to run a business (except Madden who has done F'all for 12 years) but they are either stupid or bent to get a death spiral.

Setanta - these CLN deals follow a certain path and this looks to be a classic: 1) deal announced 2) forward selling starts 3) the funder announces they have converted their CLN's - maybe not all, but some. 4) the company realise they have made a big mistake and cancel the deal 5) the funder eventually fully converts, gets out and stops the selling 6) the s/p recovers somewhat 4 and 5 could be in reverse If I thought I would not get my average of 2p back I would have sold by now - I may not, but I think I will get close to it and if the company pulls it's finger out and gets a good contract or two I may even make money. If you are still holding now it's a question of patience and averaging down if you feel it's worth it.

Well I agree they won't take it to the wire but even so they have 2 trading weeks from today - they won't finish selling them for a while though which is the downward pressure on the s/p I think about 150 mil traded last week and even if the did double their 20% allocation that is only 60 mil shs if they converted at the lowest close price on the bid under .7p? then they have 215 mil shs to dump so about 150 mil left on daily volume like todays, it's going to take some time unfortunately!

They have 20 working days if they sell them on a T20, so plenty of time - if they started on the 28th Feb when the CLN deal was announced they have until 28th of March to deliver.

It will be for a while as the forward selling continues and at the current daily volume it will go on for some time. I don't see why this week is important - wait till they have finished selling or we get some good news.

Placing with maybe an open offer to existing shareholders - it will be preferable to a death spiral. The death spiral funding just forces the s/p down and down a placing is over and done with. If they can get some of these mystical contracts then the placing could be done at a decent s/p - I just hope this is not a sham and there is some substance to it. The way they have gone about funding the company with the stupid acquisition placing at .65p and the even more stupid death spiral does not inspire me with confidence - but let's see.

I think we will tom after the first load of shs are sold from the LN conversion and after the company (hopefully) announce they are not issuing any more. It could be a couple of weeks though depending on if there is any positive news about contracts - we need high volume to get all the forward selling out of the way. Once this stops we should get back to 2p I hope

I think there will only be one tranche of CLN's - all the feedback suggests the BoD have learnt what a death spiral is. It's a terrible shame that this is allowed and that Brokers actively promote this type of scam funding and that AIM BoD directors are naive enough to fall for it - as we (the PI's) have such a small percentage of the voting rights there is f'all we can do about it but I hope the directors learn from this debacle. In another couple of weeks things should look better, the forward selling will have been completed the LN's converted and EQT will announce an end to the deal - I have seen it all before and tis written in stone!

Setanta in my experience a company is sold this type of deal by their broker - I am pretty sure they will have been told that the investor is in for the long term and will support the BoD, as soon as they sign on the dotted line the death spiral begins - this is why this type of deal is usually a one off with some dodgy firm you have never heard of i.e. Bercheva Opportunities Limited and usually ends prematurely. It does not necessarily mean the company is in dire financial straits - the way this deal was sold they probably thought it would be beneficial to all - I know for a fact that Northland sold a similar deal to a company I was invested in in 2016 and their BoD believed it to be good.

Setanta I do not want to be negative about EQT but unfortunately I cannot see any positives going forward until this CLN finance deal is terminated. If you study any deal of this nature (or have been invested in a company which has had one), you will have known that the LN holder always forward sells their shares, otherwise they would make no money. I have no doubt that shortly we will get an RNS that the LN's have been converted - they have a choice of the lowest s/p of the previous 10 days to base the conversion price on, so they can pick the lowest, so far it's .75p. I am not speculating - this is fact and will happen 100%. If they only needed a short term deal why go for �7.5 mil spread over the year to December? I have witnessed one of these CLN deals (in another AIM co.) whilst being in touch with the CEO at the time it was happening and discussing it with them on a weekly basis and based on what I learnt about that deal, I believe EQT has been sold this as (and indeed saw it as) a great finance deal from a supportive investor - that is how they are sold and Northland who presumably set this up, set the deal up for the company I am referring to. This deal does not affect the long term prospects of EQT but it will destroy the share price and will cause massive dilution until it is stopped. I believe this type of deal is almost criminal it is designed to rob investors in a company, I can see no merit it in it whatsoever except to line the "investors" pocket - they will have punted (borrowed more like) �1.35 mil for a month and will probably make 50% - do the maths say they convert at .75p - they get 200 mil shs and 100 mil warrants. say they sell for an average of .9 - they receive �1.8 mil back on the shs and have 100 mil warrants exercisable at .94p for 5 years. In reality they will make more as they have sold some as high as 2.5p. So conservatively they have 100 mil wnts for free and 1.8-1.35 mil = �450 grand profit in less than a month - they can do this another 4 times this year. Northland get 5% commision for kindly setting up this deal that's �75 grand Even if the "investor" only does one tranche they and Northland have made a killing at our expense, because us, the shareholders are paying probably (eventually after warrant conversion) 2mil plus so our company receive �1.35 mil - 75 grand = �1.27 mil Another concern is this re the warrants - from the RNS " The Warrants have adjustment and anti-dilution provisions in the event of certain changes to the Company's share capital and issues of Ordinary Shares at below the relevant exercise price unless the Investor has been offered a pro rata right to participate in such issue." That looks bad as well but without detail who knows - looks like they get a cheaper exercise price as the dilution continues. This must stop after the first tranche - please email the company!

I agree Jimzi and it's the company that has to ask the investors permission to issue CLN's with the s/p below 1p - this is indeed the worst deal on AIM I have ever seen, the icing on the cake is the warrants!!! 1 for 2 shs issued - what possessed the BoD to agree to this, it beggars belief!