Member Info for Craignews

Who is SD?

As I understand it, once someone holds a certain percentage, they have to declare their intentions in relation to large holding, or takeover

Could be Snowking, 2 Million would buy you a 3% holding, and enough to trigger a TR1, if all the 10 million blocks are the same buyer, there's enough of them to trigger it

Based on the amount of 10 million block buys, I'd fancy a TR1 RNS coming out soon

Dare I say 3pm today, or 7am in the morning? :-)

workshy - Hence the new CEO :-)

I disagree, considering Prem are in talks with a number of potential partners in relation to selling part of Zulu to fund the rest of the DFS, along with funding the mine, and off take agreement, and have recently appointed a new CEO (Which may be a requirement of any potential JV), it looks like news could drop anytime, and the SP will likely double again - It's all in the RNS

Laidlaw - You appear to open all your post with long time reader, first time poster - before you start trying to pull others up on their posts, first consider how many posts they have made, and how long they have been contributing, secondly, try reading the comment properly first, he never said it would break 14p, he said it would be nice. Finally, as the more experienced posters on this board will tell you, you would be amazed at what this SP can do in the space of an hour if the MM's want it to.

Ronnie, so in effect, we vote yes, suck up the pain of stumping up the extra cash, hold a bigger portion than 5%, probably similiar percentage to now if we all cough up, then we start lending, SP increases, share consolidation later, and we all still profit. Or, as the doom and gloom ones upon us say, lets tantrum, vote against it, and lose everything. I know which way I'm voting

The shareholders don't get wiped out though do they? The current shareholders will hold 5% of the shares in issue post raise, if they do not subscribe to the raise, if everyone subscribes, then the percentage is much bigger than 5%. In effect, we are having to stick our hands in pockets, down the back of the sofa etc. as shareholders, to fund redress, which is in effect what the judge indicated

I wonder if DM has binned Mitchell off? As I understand it, Mitchell were contracted to do 3 to 4 wells, with option of payment in shares for one. When we were drilling last year, there were case studies, and news updates on the Mitchell website, now all references to HE1 have been removed from their website, as if they were never there....Strange!

HUR Had 200 Million in the bank though, AMGO don't after paying back the bondholders. I'm bemused as to why they paid back early, when it wasn't due for ages, this could have been used to restart lending instead, and no dilution

You might make it back in HE1

Would have been worth around a million quid a few months ago. Feel sorry for Vinson, he owned 3% of the company when it was around 28p a share

@Khaled

I don't understand your specific kind of stupidity, but I do admire your total commitment to it :-)

Even a broken clock is right twice a day :-) But the other 22 hours, it's wrong. Either way, never argue with an idiot, they will only bring you down to their level, and beat you with experience.

Is it me being thick? My take is that they will issue 19 new shares, for every one in existence, and these will be offered to existing holders, such as us. Therefore, whatever the SP at the time of the raise, we have the option to purchase another 19 shares, for every share held - so if 50k shares owned, you could buy another 950k. This gives them funding for future lending, so even if the share price is 1p, I can massively average down from my current 10p average. If approved, once lending resumes, the SP will rise back to say 5p, so 400% increase in value of holding. If I have this right, yes there will be like a zillion shares in issue, but still good scope to average down, and still come out in profit. Not ideal for a day trader,, or those buying shares on 10 day credit but for a LTH that can sit on the holding for a year, and top up at the time of the RI, then it's not the end of the world

16:41:02 14.50 100,000 14.50k O
16:39:08 13.0345 1,100,000 143.38k O
16:35:08 11.00 135,430 14.90k UT

We closed at 11p, that was the UT

Is it just me, or did they not move into new offices earlier in the year? Surely phone upgrade would have been sorted before moving in! Sounds to me like a staff meeting at the same time as an RNS that updates the market on SoA approval, and relending

They would likely inform staff at the same time as the market, to ensure no leaks