Member Info for EricDraven

I think he means Winnifrith. Could be wrong though.

The deferred shares will be worthless. They can't be traded can they? The 1 ordinary share out of what is currently 250 won't be, but don't forget the placing is at a 61.3% discount, so already your newly consolidated shares will be worth less. Lots of ground to make up.

All the details of the placing and so on are in the last RNS of 21 March 2017. Worth a read. Lol. Hope that helps.

No upside probably, as the new BOD doesn't even know which sector it will target going forward, and also because the placing equivalent is stated at 0.006p, which is a massive discount of 61.3% to the share price of 0.0155p, being the current sp at the time the deal was struck. Additionally, your existing shares will be diminished if the proposed consolidation occurs, at a ratio of 250:1. As in, for every 250 ordinary shares you now have, they will become 1 ordinary share and 249 deferred shares (which are then, in reality, absolutely worthless). You'll be left with a mere 1200 meaningful (guffaw) shares in your portfolio. It doesn't sound too good does it? I've been invested here for nearly seven years now and my average is 0.89p. Gives you an idea of how this share has only ever been a shower or crapola. Why would that change? Or shall I say, it won't change significantly enough for most long-term holders, for it to make any difference to our woes. Good money after bad? Yes, absolutely, if you have been in this any length of time. Good luck elsewhere I would say Tony. Only my opinion. Best Regards.

Will it Jib? Jesus! You heard from the FCA lately? Or shall I say, Chocolate Teapot Society?

The sp abyss has sunk beyond the gates of Hades. Lol. Certainly further than the Fisher Price drills, suitable for ages 3 and upwards.

That sounds good. I'm not taking up the Offer though, I won't give these charlatans any more money. Cheers Bans. Best wishes.

Oh, I didn't know you could still be entitled to do that, but I suppose it matters crucially only sbout what you held on Offer deadline day. Fair enough. To be honest though, with my average, Id have to literally buy millions more, so it isn't worth it. If you've sold the entire amount of your normal holding, good on you, at least it's currently not trading at the 0.006p equivalent of the proposed placing price, but you know the risk of buying back in matey. Lol. I wish you well, whatever you decide.

You can't sell and then take up the Offer though. Or vice-versa. You can't take up the Offer and then sell before it is implemented. As far as I'm aware anyway.

Cheers matey. I've just today voted against the BOD's proposals. There is no evidence of a plan, only one of gaining £3 million and chasing rainbows. It may have been different had they told us which sector they were thinking of exploring. Can you imagine though, a reverse takeover of a non-producing company? How likely would the BOD then be to turn that into a producing entity? And what kind of company already in production could we get for that low amount of money? Alarm bells. I'm in agreement with you. We'll never see a return on this investment and almost all long-termers won't break even. Why throw even more money at ORE now, if we're giving it to those, or acquaintances of those, who got us in this mess in the first place? I'm keeping hold of what I've got, but I'd rather this stop in its tracks than people get fleeced for another year. I'm only sorry that the FCA has not stepped in to examine this operation further, in spite of many shareholder concerns being directed its way. Best Regards anyway and good luck for the future.

So you'll be chopping this off with the sword of Damocles. Fair enough. I'm waiting until it goes high enough that the broker's fee won't leave me over 100% down. Lol. I didn't think that would be possible, but it is. Nobody already involved here will surely be willing to give these prats more of their money. By doing this cash shell thing, it buys the management a further year of potentially doing nothing before ORE is removed from AIM. Had the BOD tried to raise the same cash, or a reasonable amount, for continuing on with a proper drilling program, then it would have been curtains much sooner, in my view. Reason being, Bird has been an abject failure and well paid for it, in spite of the disguised optimism via RNS. He has been unable to source either a JV or funding from a respectable source. He could not have asked shareholders to stump up the amount required both for a solid program and for the wage bill, without putting us almost at death's door. I mean, the discount even on this cash shell nugget is unacceptable and the risk of any drilling has evaporated! Imagine the discount should any potential risk be introduced! Lol. So, there will now be a care and maintenance situation only. No more thinking about 3D imaging, defining any extents, or the deployment of drill rigs. That suits the BOD perfectly of course. Bird has simply been unable to turn this around, despite his misleading RNS releases to the contrary. It's all been too much. Why though, can't people just be honest? "I'm crap, I'm so sorry, I'm resigning." I think we know why. Anyway, six months to find and undertake a reverse takeover, or be suspended, with a further six months to find one, or the Company be delisted. A year's grace before the final pulling of the plug then, should the new BOD do nothing whatsoever. Sounds good, with what will probably be a few million quid to enjoy (because somehow the majority of votes for the cash shell idea will be"Yes"). Oh, and of course, Bird and Slowey stepping down, yet still involved in the offer and with all those shares already. Tut tut. A wonderful recirculation of funds exercise between friends, whereas obviously, we know that Bird and Slowey don't deserve to be given any further opportunities for their own gain here. Everything, and I mean everything, has been to the detriment of shareholders. The fact we are allowed to partake in this latest and probably final proposed offer is only to soften the mighty blow of the discount placing, and, of course, so we let them do as they please with greater ease, from their perspective. In actual fact, it's a mixture of the BOD continuing to take the pi55 and masking its utter ineptitude at the same time. It's not only a disgrace, but also the cheek of it demonstrates how they are still simply treating us with absolute contempt, which is all they have ever done. Expletives, yes, I believe we are entitled.

Walk away, keep your money safe. In my opinion. I've been here for nearly seven years, average of 0.89p. It has never been any good and Reynolds has been involved. This is nothing new. Best wishes.

What we have experienced is akin to legal theft. Lol. Damocles. Sorry about your long lobe. The flaps on my mangina have lengthened, if that's a comfort.

I can't recommend any shares to anyone Morv, because I've yet to have any winners. Keep the £200 and spend it on something nice. Lol.

What's a multi-bagger? Pmsl. Is that like tea-bagging? Howl.

I meant to say....the sweet smell of another Reynolds methane cloud. No apostrophe required for this pile of crapola. Lol.

Yes, but the old management had to leave after this, and now we just have new punters inhaling the sweet smell of another Reynold's methane cloud. Lol. Best of luck to you too. Cheers Mick.

In my opinion only that is.

The deal is that existing shareholders are fooked over and the inept BOD gets off lightly as it steps down. It's quite obscene, but the cash shell bull5.hit is just a way to deflect how borderline criminal their behaviour has really been.

Yes, it's a crock of ****e.