Member Info for Cavity

It was obvious when AM showed no inclination to explain why he needed the consolidation that he knew he already had enough votes and that once again he could just treat shareholders with utter contempt! Ash regarding any football analogies well yes the salary increases are football style ,but football managers are paid on results and in this case our CEO would have been sacked months ago!

Anything positive you would like to add. Do you think a JV is still on the cards?

I honestly think the rampers and de-rampers should call a truce until after the AGM. No message on here is having the slightest effect on the SP, as it is completely and utterly controlled by the bondholders and their continual wish to sell their shares! We really need news of a JV.

Every RNS is just an excuse to offload more confetti shares and hence further drops in the SP

I see he Artemi5 (Art) hinted we may get news on Monday,but then probably forgot the Canadian market was shut on Monday!!

Who to trust on a bulletin board-- positive posts are they management, family or friends of the company and negative posters are they deliberately trying to drop the SP. Having bought shares in this company at 35p I know where my feelings are at the moment. However ,if I had recently purchased at 5p I would probably like to read a more positive assessment.

What I do know is that all the companies that I have held in the past and had a consolidation it has never benefitted the shareholders and so for me to vote NO to that resolution is a no brainer- it would be like Turkeys voting for Christmas!

I will give him until the AGM! I do think Artemi5 recent posts - today and on the 13,14th May are quite informative , but the problem is even if they are ART or a close acquaintance his word has mean't diddly squat so far!

Very interesting - I reckon you could be spot on there!

I have sent an email to my broker to ask them to vote No to the consolidation. However , the lack of any explanation from AM to me says he already knows can get it passed!

More like Trump everyday-now all we need is the fake news!

Why put out news of ability to consolidate without any proper explanation from the company! Just leads to more speculation and guesswork and yet again shareholders kept in the dark! I have never known a consolidation to benefit shareholders so that together with a total distrust of AM and his motives give me great concern that yet again the financial acumen of this board are not aligned in our best interests!

Thanks for the posts Stas20 especially the helpful one on the bonds . ( This was the bond deal that “ was a great deal that the shareholders just don’t get “ . I think we got it all right!!!

When we have a sideways day I am more than happy to see large sell trades crop up because at least it means we are churning through some of these bonds. It is incredibly confusing as to how long it will be to get rid of the remaining bonds if the main bondholder is barely selling any! I could do with someone more knowledgeable than myself to tell me ,but would I be right in saying we have about another 70 million to churn through if Anavio do not sell any! It may be when the constant supply stops that any good news will at last be reflected in the SP!

2.5 million sell from Friday

I do agree about paying off the bonds. At the moment until these confetti shares are gone it really doesn't matter how the market reacts to any extent because either way we just have more shares to sell. A great JV is what is needed to provide real confidence to the market and provide funds to repay the bonds!

On the 21st of November I wrote "about time he under promised and over delivered because at the moment I feel I'm being played". Since then absolutely nothing he has said or done has made me change my mind! He was hopeful that JV talks would be concluded by the end of October -indeed we had "we're going to contact them in the morning to speed things up"- well 5 months later here we are! The SP on its knees, shares being sold like confetti and any trust with long term shareholders completely evaporated. The JV company supposedly contacted us and in that time we have seen {imo an orchestrated drop} the SP now at 5.75 p- About time for them with their NDA's to put up or shut up! If this field is so good surely other companies will want to be involved _(certainly if our illustrious leader is to be believed) . Many shareholders have lost a lot of money and whilst we should all take responsibility for our actions an awful lot of blame should be laid at Art's door with his ridiculous pronouncements and total lack of foresight. !I live in hope that just for once Art can play a straight bat and restore some credibility and show leadership his daughter can be proud of!

100% agree Victorcobra and what I said a week ago.This ridiculous financing prevents any sustained rise and it amazes me when some people say we have 50 buys one after another and the pesky MM'S won't let it rise! Well the reason is they have millions of shares to sell. We need a decent JV and at least that may allow us to break out of this trading range!

Well now we have entered the 4p range and this continual drop goes on!The only thing that will stop this is news of a JV or RBL. There are just too many shares /warrants readily being sold to stop this slide. Even if there is signs of increased production it may trigger a penny rise ,but it will immediately be sold into. What it will give from a positive point of view is that given time the company can be a success ,but this finance arrangement AM and his sidekick have put together is a complete disaster! Thank you to some of the more knowledgeable posters because unless you have a degree in accounting these financial arrangements are well beyond the average layman shareholder. The treatment and explanations afforded long term shareholders are a disgrace and board members having to act like Sherlock Homes to give their take on what is going on is testament to the diabolical PR! Oh for a decent takeover or largeJV where AM can concentrate on the oil and we have someone who knows how to communicate with his shareholders!

At 9.10 this morning mcadder posted an article today from Mark Watson-Mitchell- in it he mentioned the quote from AM about intended RBL. It may be a play on words ,but to me that tells me that they intend to RBL ,but they may not do it now. Why not just say towards the RBL. For goodness sake how long has he been talking about an RBL- one was a favoured bank months ago! On the bright side maybe theJV is going to be so good it will nullify at the moment any need for an RBL until a better arrangement can be negotiated!

" this funding supports the company to an intended RBL" -Seems as if the RBL is not imminent from that comment from AM this morning! We just seem to be going round and round in circles!! We need that JV its the only thing that will see a rise in SP. The question is are the talks still progressing-- I know he's supposed to let us know ,but his communication skills are not his greatest asset!!

This is getting absolutely ridiculous and I do agree that he seems to want the SP as low as possible.These bondholder deals have been highly questionable and totally killed the SP. He must be running out of excuses, but the problem is no-one believes a word he says! I reckon on Monday if it follows previous weeks we will have a run on 4p and for some of us whose average is closer to 25p that is a disaster! What really upsets me is he doesn't seem to care a jolt for his shareholders and these juvenile off the cuff remarks "game changer, strap yourselves in ,JV possibly by end of October" have deliberately overinflated the true position of the company !