Member Info for DonkeyOatey

Sorry for the rant. Rather a bad day at the office, feeling undervalued for my administrative contribution towards the world's largest pest control entity. Hot AF in the office as well (no surprise since it's all full height windows and the AC is still not repaired.) Been reading the infantile snivelings of a group of shareholder turkeys voting for Christmas in several other firms I follow on LSE, didn't put me in the best mood. Why do PIs twist themselves into knots trying to convince themselves that there's a really clever manipulation being pulled by a BoD, and it's all for the benefit of shareholders, rather than just accepting the simple, obvious fact that they are getting shafted?! (That was totally non-jog related, for the avoidance of doubt by the simple and/or soft. Just utterly dismayed at some of the absolute septic tank content I read on other aim companies' boards. -sigh-)

I don't believe the bod are corrupt either, especially Rawlinson who has far too much to lose reputationaly from being part of any fraud. But I do believe that the bod started out believing this was worth a lot more than it currently is, and at a time when the backdrop for Pd especially was much better. But I believe that they must by now realise that their previous plans simply aren't realistic, and they're just looking to salvage whatever they can from this dumpster fire of an investment.

"We get 20% of whatever we find and it costs us nothing to get that."

I'm sorry, Steve, but that is rather factually inaccurate, to put it mildly! During that whole period of getting usd15m and all the Anglo drilling time, you will have a bunch of vastly overpaid "executives" feeding off most of that 15m and hanging around to keep issuing themselves easy options just in case Anglo actually find something of value.

As usual, shareholders will be left with the dregs. The market is starting to wake up to what a no-win proposition this actually is, hence the share price is in the process of moving to a more realistic valuation. Still has a long way down to go yet, imo.

"All that said I’m genuinely surprised at the frothing support on here for voting YES to all resolutions."

I believe you provided the explanation yourself very clearly, just two lines later.

"Although had NN decided to make a cheeky offer of 12p a share I wouldn’t want that made public."

It speaks volumes about aim pi psychology and the reasons most lose money when someone can post such nonsense that a 300% premium to the share price would be considered by anyone as "a cheeky offer." Either that, or you've a tremendous sense of humour, in which case I salute you!

I forgot to say that the final insult, as Victor Meldrew would've said (and, no, I'm not going to reference being overtaken by two men pushing a broken down Transit) will be if he then gets a pay raise for that old aim chestnut of "delivering shareholder value." And before anyone comments, it doesn't normally require the delivery of any actual shareholder value on aim in order to use that little beauty to justify a lifestyle, ooops my slip, I meant salary, raise.

I really wish an investor would ask Turkey why he thinks he is qualified to continue running Kav?? Thus far he's delivered shareholder value destruction galore, dilutive raises, and now it's no longer a case of promising jam tomorrow, instead it is "Well, we are looking to source an exciting selection of used marmalade tins in the hope that one can be polished up and re-presented to shareholders as a jamjar with a stuck lid, which we then anticipate being able to formulate a plan to open and see if there is actually any jam inside! All done whilst generously remunerated by your good selves for our strenuous efforts at prizing open an old marmalade tin which self identifies as a jamjar."

Repurposing the office as a greenhouse has done wonders for the environment, and is well on the way to sourcing carbon free tomatoes, since they are now madly growing in their little tubs on the windowsill where I used to keep my binoculars, ready at a moment's notice to stand on my chair and peer towards the border. It's amazing how quickly they grow actually. But on Jog, yes the morons running the country couldn't have done a better job of screwing up the NS if they'd tried (we know this because every time they actually try to do something, they fail so spectacularly that it is worthy of television comedy.) Perhaps next there will be a windfall tax on Amazon who've been coining it in since before covid, or perhaps Tesco, Sainsbury and asda for their massive profits on food necessities (Just think of it, Mssrs Sunakhunt, you could use the money to pay people's weekly shopping bills), and if you then tax the petrol stations with a nice 75% wft you could then pay people's petrol bills! I wonder who we should hit to pay for the sacred cow we call the NHS? Oh of course, how could I forget, tax everyone for that! At this rate though, the gvmt can save on the petrol bills because the way things are going, most people won't even bother going to work, why should they bother? Stay home, gvmt's paying after all (as though gvmts actually have any money of their own!) But I've digressed again, mea culpa, mea Maxima culpa. I didn't think jog were going with tie backs, anyhow, I had understood they were going to hook up to the enormous as-yet-unbuilt windfarm in the area (because nothing involving gvmt permitting ever runs massively behind schedule. What could possibly go wrong?) I wonder if we should just vote to prorogue parliament. Perhaps BoJo had it right after all. Everything they touch turns to sheet, so perhaps just leaving all of the MP jobs sede vacante would result in a better run country? As embarrassing as the CINOs are, I dread to think what state the country will be after a period of LIEbour. Oh well, I've just looked through the binoculars and it seems they're coming for me. So I'm going to head back to my padded cell and take my meds. Nurse!...

Well, for better or worse (better I hope) I have finished amassing 6.1m POW shares. Just haven't been able to help myself, topping up every week sometimes three times in a week. So now if they would please get the share price to a new all time high I will be able to retire with dignity. But since I have a further year or two of employment affliction, it doesn't need to be today. Next week will do fine ;-) On a serious note though, I'm happy to hold these for three or four years, since I expect the listed investments to eventually get traded away in better markets to fund exploration of the wholly owned uranium acreage. Exciting times to be a junior resource investor with so many incredible bargains in the market. As the Oracle of Omaha says, "Buy when there's blood on the exchange floor!"

Legal, uranium is at the starting gun of another boom. But, that aside, all of POWs spin outs are doing huge amounts of work, and any one of them could do amazing things anytime. Albeit we would only own 60pc of such success, still it would be transformational to our value.

Sorry, Mr Upham, when onthe6 told me that your Cal's were.right and I was wrong, I just assumed I was ignoring some rule for calculating these things, since I have no background in finance whatsoever! Always looking to learn something which might help me to accurately understand the value of a company. (Makes a nice change to have some real numbers validating an aim company, since most other companies I've been following and investigating either have a bunch of assets with no external numbers involved, or just have the most absurd valuations for lottery ticket chances of delivering, it makes my eyes water!)

Can I give you a hypothetical, and to be clear this isn't re jog. But imagine for a second that jog2, I shall call it, had no oil just highly prospective licences, and neo offered 10m in cash support to jog2 over 5 years, and would spend 70m exploring with a free carry to jog2 for all the exploration drilling, and jog2 retains 30pc and neo 70pc (assuming discovery.) Would it be accurate to value jog2's 30pc in the joint exploration as 3/7ths of the total of the 80m that neo was willing to spend on the licence area? (Just trying to do a rough calculation of another company I am looking at.) Or would you want to apply some extra discount because there's nothing discovered yet?

Spikeyj we don't actually know the JN gave zero notice. We only know that EUA gave shareholders zero notice of his departure!

Well you said the 608.9m figure is correct, so presumably you know why! So could you just explain why it is not necessary to include neos own 50% share of the $25m to get to FDP? Doesn't seem like a big ask, since you're so convinced that I'm wrong in thinking it needs to be included! It would just be nice to understand why some amounts are left out of this total cost for total benefit calculation.

Onthr6, if so, can you explain to me why it isn't necessary to include neos own 50% share of the funding cost ($25m) in the $608.9m calculation for what they are paying for half of Buchan's oil?

Solo, chill buddy! They're presenting to wealthy Americans in Boca Raton soon at Rick rules investor conference, and have this Saudi group helping introduce them to hnw investors in Arabia. But you do realize that once the buying starts, the share price will rise and then a whole lot of warrants will kick in. But people always seem.to ignore that warrants provide a lot of funding directly into the business, so are not necessarily a bad thing.

S99 the pow team are not short of project offers! I suspect it is more that an in country agency might be able to also connect local hnw financing partners to buy in. That would absolutely be something worth paying. Imagine a Saudi 10m mkt cap listing, pow keeps say 55% and Saudi investors buy the other 45% of the shares. Now that would be a win!

Without wishing to be pedantic, Mr Upham, your $608.9m is actually under by $12.5m, since you have only accounted for Neo carrying JOG's 50% share of the costs of getting Buchan to FDP. Surely they will need to add into that 608.9m their own 50% share?

Exactly, manager at EY, then partner at HLB. For obvious reasons, absolutely nobody moves from EY, a top accounting firm, to a second tier firm like HLB if they are on track for partnership at EY. I would expect he was "encouraged" to seek opportunities to broaden his skill set outside EY, it's pretty common in accounting and law for those who don't quite make it to partnership at the magic circle firms to then seek partnership at the silver circle firms. It's no criticism of him or his abilities, since making it that far up the latter at EY is testimony to his technical skills. In fact, a partner at Slaughter & May once said to me, when discussing a case being handled against us by a partner at Mills & Reeve (Norwich, out in the sticks) "Don't get complacent about this, just because they're a small firm out in the sticks, xyz is one of the smartest, shrewdest contract lawyers in the corporate world." Let's hope it's the same with our former HLB partner.

He was never a partner at EY, only at the second tier group HLB. It will be interesting to see if he finds his certification in fraud examination useful whilst he is CEO.

If this concentrate isn't sold soon, they are going to be in deep sheet with their cashflow. The loss has widened, and the annual costs have risen (although hopefully JNs departure will reduce that, for now - incidentally I do recall someone said last week that JN would be outta here, but I seem to recall a bunch of the long and strong crowd poopooed that!) Hopefully a quick sale in the coming 12m before cash becomes a problem, 5p will do very nicely for the sale, thank you very much, although I appreciate it may be a little optimistic.

I'm extremely interested about the accounts situation though, but it will be interesting to see what happens in the future. After all, having even top international accounting firms didn't protect investors in other aim failures like quindell and Juridica. Hopefully this can all play out after a sale is secured in the coming year or two.