Member Info for Doc83

Dippfs - I don’t think we would get suspended for failing to have an AGM, but there will be some kind of penalty. However, I am confident we would have been suspended had the annual report been late - I’ve seen this a couple of times. Anyway, they got it out just in time.

Stas - previous raise in Feb 23 was scaled back to around 70%. But this time around it seems to have gone down much more positively. I've gone in for £200k so it's going to be fully taken up ;)

I reckon 10-20%. Or everyone will get £1k or the like.

"No oil refinery

But they are looking to bring producing wells online.

You better hope the PetroChina facility agreement are still intact LOL"

Yes. While this has been derisked, this is probably one of the risks right now. The refinery could be a long way off yet, so we are reliant on PC and DQE playing fair.

That too, Investor. I did put… 😉

Thanks, Stas. If there are such large orders going through, that is very positive.

Stas, are you sure the 2.25m was a buy? It was delayed reporting and traded first thing when the spread was different. I'd be very surprised if there are such lumpy buy orders going through from what must surely be PI's, given that the large investors and institutions would've bought in on the 2p raise.

Some big sells going through, including that delayed one from 08:10. Very clearly from the raise. So perhaps not so much FOMO Friday, but clearing the books for the weekend.

Looks like there's a few decent sized sells going through, presumably from the raise. This could persist for a little while before it is really able to move higher, albeit we are already 20-25% north of the 2p placing price.

"I’ve just looked back. Since august 21 . Matd have raised $16 million dollars plus this new $8.5 million !! Each placing stated it was to fully fund heron 1 completion and production .

Where the hell has that $16million gone??"

The Velocirpator drill, renewables, paying off the locals for their land, salaries...

Tommy, I can see why you’ve got this so, so wrong in recent times. Because you clearly can’t read. Once more, I said if there was no AR by 30th June there would likely be suspension. I’m pretty sure had they not released the AR by tomorrow, we would’ve been suspended.

Incredible that despite you getting it all so horribly wrong that you’re still on the offensive. Laughable in fact. And a touch sad. Classic deflection.

Jazim - I'm pretty sure that's a sell. It was 2.25-2.30p by looks of it. They've took a bit of a hit selling so much in one go.

134 posts today. But this is the one (from JJess) that summarises it nicely:

"Last AGM we were told there would be multiple p2 trials in different patient populations and infections and we had the funds to carry out all the P2 trials, fast forward 12 months and we can only muster one left field P2 trial which we can’t even fund - either we were sold a gigantic whopper or something significant undisclosed has brought us here"

We were all gleefully told by Simon Shaw something close to this at the AGM: "we are very fortunate to have the funds to be able to carry out these trials". What happened... poor financial planning/forecasting, overspending on flights to the US, Maud getting an inflated bonus... what?

They must surely be planning to hold the AGM in Pyongyang, because it will be a bloodbath.

Aeschylus & Stas20 - agree with all of that. Hence me saying “at least”. I’d be very happy with 5p+ still. It’s been a long journey.

“2.43p just paid and volume rising again”

Nothing certain in this game. But this was close at 2p. I said I expect this to rise back to at least where it was pre raise, which in new money I think is 2.87p.

JJess - agree. It looks a panicked plan. I think it’s telling that we have a number of very loyal, very long term holders selling out. And even JoeyDiamond showing concern.

Will be interesting to see what reason they give for the delayed AGM. Because the plan going forward was no reason to delay. I really do think Spacman was on the money with the going concern part - hence such an odd statement to say they’ve got a plan B (effectively shutting everything down) if plan A (raising cash) fails. Maybe this was enough to satisfy the auditors so they’d sign off on it.

Such a shame. And no contrition shown at all from RM/SNG.

“And mine: 500,000 share buy @ 11.28.35 showing as 'sell'. Happens all the time.”

LSE doesn’t know if a trade is a buy or sell. It simply assumes if the dealt price is closest to the buy/offer quote, it’s a buy. Not hugely reliable but probably most right of the time.

Tommy - is the AGM going to be late, i.e. it won’t be held before, erm, the weekend?

I'm out, all but for a token holding so that I can attend the AGM and have a beer with my pals Bob, Jint, Wigster and others.

We didn't get suspended, but it was the next worse thing. More delays, further negative changes to the trial, a "financial plan" to be undertaken, confirmation they can't afford to run said trial and will need to raise cash, most certainly to the detriment of the regular PI. And still no AGM date. I could go on.

The only reason I thought of holding on was so that I could vote the BOD out.

I'll still be posting here and watching and who knows, I could well buy back in. For those holding on, I hope this comes good and I'll be chuffed, despite potentially missing out myself. There could be some curveball platform trial or something else that could propel this. But on balance, I see this heading one way, at least until they sort out the finances.