The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
"Is this fishy..?"
"All negative news is out of the way..."
Wow, we really are delusional aren't we? I mean in the most polite way possible we need to remove the rose tinted glasses here.
News was leaked, not acceptable, and as much as I pray we genuinely don't have any more negative news I'm sorry but I can just see us suffering huge dilution.
If MB wants to look after shareholder interest then he can do that by informing us NOW of the company's cash position, confirming that we are indeed fully funded to Heron oil and that revenue from Heron will cover future expenditure. Confirm that we will not be raising via a share placement and at worst create a proper open offer available to all, PIs included with the option to exercise warrants later - thus showing a huge degree of faith in an underlying minimum future value of the share price.
We still have silence, after what was an obvious news leak and market abuse. It is not good enough.
Nothing I write is advice, it is all opinion and my human right to vent accordingly...
On the one hand I am somewhat relieved we are sat back at the mid 4p range, but I am still utterly fuming about how people are trying to suggest things are all great and rosy and ok. They are not ok.
News was clearly leaked last Friday, that is wholly unacceptable and completely scandalous. How many PIs have had their shares literally stolen by the price action this morning? Not ok. This should raise eyebrows for any of us who are genuinely "invested" in this company.
I want nothing more than for MB to pull his finger out and deliver value to us PIs who have supported him and the company for years. I would be over the moon to see this above 20p with NO CAPITAL RAISE, but these last few trading days just seem to confirm that any CEO cannot be trusted and as such I absolutely expect a humongous capital raise and horrific dilution to us.
The same crap happened over and over with RKH until people became so infuriated they created a large enough group to be taken seriously by the board. The result of which meant that, yes, a capital raise took place, but PIs got a slice of the pie, with warrants to exercise. I hope MB is listening, because that would be a much better show of solidarity with us. I hold my breath...
Halifax are quoting 3.7p to 4.0p currently, so that's something. Not such a massive paper loss to mull over for many of us.
Still completely unacceptable that news was obviously leaked last week, allowing all the "mates" to sell out at 5p to buy back sub 3p. Scandal and for that alone CEO should resign
Big disclaimer, nothing I write is in anyway advice, it is all just my feelings being shared as opinion only and right now I am not a happy investor.
As I said in my previous post, all I wanted was for this to be good news as I am personally invested. I am absolutely devastated by the news, as this is now going to take an absolute hammering. Again, I hope I'm wrong, but chances are this is plummeting. And yes, I do still envisage a capital raise now so double sucker punch.
All companies can be forgiven for a negative result, that's not what makes me cross.
What's really unacceptable and unsettling is there was clearly a news leak of this end of last week. That is completely unacceptable, but like I said in my last post. I've seen this time, time and time again.
I do believe in Heron's potential, but for pity sake how hard is it for a company to be run properly and admirably. Like I said, any CEO these days just wants to ensure the continuation of their own salary at the expense of anyone else.
I tried to express concerns last week and I was shot down and insulted by the idiots on this board. For those who lurk and read, I did try to warn you.
Again, opinion only based on observations. Do what you see fit
I am invested here, average at 5.8p, so I want nothing more than for this to rocket up to 50p+ and to make a pretty penny, but alas I am hugely frustrated with 1. The poor SP performance off the LP news and 2. This ridiculous nonsense from so many here that we are in for a straight easy ride up.
I wish we were, but experience from this share, RKH and others is telling. I can easily foresee a capital raise now we have LP in place. I don't want this and I feel personally the risk of selling to buy in lower in too great, in case my gut feeling is wrong, but a big dose of reality checking reminds me that if I were CEO of one of these companies my first job would be to ensure the life of the company and my own salary. Right now, a capital raise of say 3p circa 350 million shares would raise £10 million. That puts the business, the CEO, the board, the Heron workflow, the exploration drills, the BS dealing with Mongolian land laws all at the back of the mind and takes any heat away. It also represents approximately a 25% dilution, thus the 5p - 6p range sets a new floor at actually being 4p. The mcap would remain around £60 - £70 million, and then from there we start to get all the news flow and progress knowing we are FULLY funded for years to come until we have true and regular cash flow.
I've seen it time, time and time again, so it wouldn't surprise me one bit and that's why at my 5.8p average I won't be jumping for joy until this has all been acknowledged and answered by the board. Again it's not what I want, I want zero dilution, but I just can't see it being the case and perhaps that's the reason for the ridiculous non-existent SP performance, as the market and big boys all expect this type of action to follow?
It's all ifs, buts and maybe, all in my humble opinion. Nothing here is advice, it's just my humble opinion