Member Info for Crocqman

You told us it was 'about to blow' back on 14/11.

Safe to say you don't know anything

Volume is tiny, as it has been for weeks and months other than one day.

I see no evidence to suggest a large seller, or anyone selling in decent quantities (buying too).

If there is a big seller, it will take months to offload any meaningful position at these levels.

Seems more like the usual scaremongering to me and traders looking for some action

Loads of buying activity? In the last 3 weeks, this has not broken 0.10% volume in daily trading and currently today, volume is less than 0.05% of shares in issue.

Trading has only broken 1% of shares in issue (barely at that) in the last 7 months (on an RNS drilling result release in August) and you have to go back to May last year when there was any real sign of interest/volume over a 2 week period.

I see no signs of large orders being filled, nor loads of buying activity, or the SP being held back.

I'm sure we are all keen on next news and what the next 3 months could well bring in terms of progress, funding, etc, but, for me, there is no evidence of any action out of the ordinary going on at present. Interest/trading seems to be more on a reactive basis once news has landed, rather than prior to news, imo

I will be more concerned if we do not get anything tomorrow, although they will need to make an announcement on the agreed deadline for producing the long awaited accounts.

Another extension would be the worst possible result.

I have not been following the situation over there, but personally, I'm more interested that the staff and local community are ok and being looked after by the company and ensuring the site is as secure as can be, than constantly moaning about Shishir and how long the share has been suspended.

KBW,

So, who else do you think Mits would have been able to grab the extra shares they wanted from, the open market?

This would have been a strategic decision by them looking at the bigger picture.

I guess if you want to see the bad in everything though, you will find it

The inference from the update relating to the extension was that it is the treatment of certain items and not the actual production of the figures that is the reason for the delay.

I'm sure they don't need a full team of auditors to be on hand if that is the case.

Not sure what substance the daily messages from you both is really achieving, maybe save it for if the deadline is not met.

Not sure relisting at this quiet period of the year is in anyone's interests, the new year would be better, imo

Things must be improving here. In recent days, you repeatedly told us it was going to 1p and also that folk should wait and buy sub-2p. Now your target is 2p.

I take that as a positive. Tks

Companies like this will often talk about dividends as a carrot for investors. But rarely, if ever, pay one.

It would be much more in the companies interest to utilise any spare cash, when it is prudent to do so, for a share buy-back program to massively reduce the number of shares in issue which could potentially hold the growth back in the future.

Historically, consolidation is not the answer as small caps often lose mcap when they do this, imo

They would need to be granted another extension if they are not going to make the EOY deadline.

The last update suggested that they were all but complete.

Expecting the deadline to be kept otherwise any goodwill from recent positive news will be lost

Yes, positive news. Steps being taken, at last and some experienced oversight.

Hopefully this bodes well for delivery of accounts by year end deadline date and financing news is hot on its heels.

SP action on relisting will be interesting, but without further news, especially on funding and debt commitments, not expecting much of a movement. Need some financial stability to restore some confidence. A CFO with suitable experience will be an important addition.

A long way to go, but it's an update

Typical, just as I sold out another share at a big loss for CGT purposes expecting this not to happen until next year. At least I will finally be able to realise this and use the money elsewhere

Good luck all.

I have decided to sell out today, mainly to reduce my CGT exposure for this tax year from a potential 4-figure tax amount to a much lower one.

A 99% loss which I realistically was only ever going to partially recover, so it was only a matter of time before I did this and the new CGT bands have forced my hand which is probably a good thing to extinguish the hope held here for too long.

I have been a supporter of the tech, but there is little else to get behind now, imo, so better to duck and accept a poor investment decision.

It is an easy decision as to what to do with the sale proceeds. The trading fees for my sale were 48% of the share value, so the remaining £13 will be left to cover platform fees, or maybe a one-day London ULEZ zone charge :-)

C'est la vie

I wouldn't say he's left it close. The extension was granted until 31/12, so still almost a whole month until their agreed deadline.

Given most of these small cap companies do not release their accounts until the last possible day, I would not be that surprised if it did not arrive until the last minute despite the noted lateness. Personally, I would ensure it is released prior to the Christmas market close so that the suspension can be lifted for first trading off the new year.

While there is much that is still opaque, and questionable, the last couple of updates have at least given useful information of what is going on, which (for me anyway) suggests there is reason for optimism if the known issues can be resolved. Not throwing in the towel here yet

The AGM agenda was provided. There was no additional AOB, or anything else to warrant discussion.

We have already been told (27/9 RNS) that the proposed acquisition has been delayed with expected completion not until Q1 2025.

We may get news of due diligence, legals, regulatory approvals, etc in due course, but none of this was part of the AGM, so would not have been discussed, as confirmed by today's announcement seeing as nothing else was added.

It's just the way that it is, not to say that we couldn't get an update at any time though.

Of course something more tangible would be good, it has been a long enough wait

What's to know?

The AGM and proxy voting form were posted online on 08/11 and the RNS today confirms all resolutions were passed.

Nothing else would have been discussed, so all is already known.

It's a case of waiting some more. Again

Sorry, but regardless of government policy, or targets, there is no chance that the UK will be plunged into darkness on a regular basis. Unnecessary scaremongering to suggest this.

It is also highly unlikely that offshore/onshore production will be maxed out by any UK government, not this one or any in the future. Policy may well change and be more flexible, but no one will move away from looking to alternative sources and go headlong into an oil/gas-centric stance granting licences to anyone and everyone. This would represent a seismic shift and no government, imo, would have the cojones to do this

Couerdelion,

Going by past experience elsewhere, the market will likely drop this today because of the delay in ASX listing and ignore the other news.

Also going by past experience, the ASX listing will have little or no impact in SP when it happens.

Sad, but likely outcome.

I am not counting on the listing to make a difference, the consolidation won't have a positive impact either, indeed it effectively caused a drop yesterday.

It is all down to getting the application/consent sorted, production and improving prices and happy to wait on these.

1-2 year timeline for me here. Down on my investment, but won't be averaging down at any price

True, but they will get their end of day prices from an overnight feed from whoever is their price provider and so will likely not correct until tomorrow, even if the delayed price has been changed correctly from a different feed

Not down to LSE to change info received from a 3rd party source, it's up to shareholders to be aware of what is going on with shares they hold an interest in

Sometimes it takes an extra day to reflect at the custodian for the for the correct price and holding as systems may need an overnight feed to update. Could look wrong for a day or two