Member Info for G_G_G

What's your theory Stas?

DM, I agree Glen is a good diversified bet on the future due to their exposure to battery metals. I also agree on your RMM points, but I was never there for anything other than the turnaround story and making a quick buck. I get these smaller bets right and wrong almost in equal measure, which is bl@@dy annoying. On your energy point, I have no idea what you're talking about.

Tony, there's no way I'm wrong on what you've previously stated. The BP sp is 20% lower today versus what you were quoting 21 years ago. And they've paid in the past 21 years a dividend of circa 4.5%. So how you can compare their sp 21 years ago and say it's 20% lower and i3e is the better investment as a consequence makes zero sense. Otherwise you have to compare our sp at 120p a few years ago. And you need to include compounded, reinvested dividends for both companies in this time. I'd of course rather have my money here at the moment, but that doesn't change the fact that BP has done better than what you're claiming. And to my original post, an investor's money would be 50-100% greater now if they reinvested their BP dividends in that 21 year period. Work out the compound rate on 4.5% reinvested for 21 years and it will help you estimate what £1000 pounds invested back then is worth now. I do however agree that BP's sp won't do all that much over the next decade or two as it will remain an income stock.

As for BBs, I'm not sure what your position happens to be. It would however seem the company shares the same position as me in general. They just don't see the value in a £5-10m buy-back from IIs when we're valued at less than 20p versus putting it into production. I have no idea what the poo and gas will do over the longer-term so not sure what would be the better investment over a 3-5 year period. But in the short-term a small, targeted buy-back now would imo certainly be the stronger option for the sp. Either way I'm fine with what they're doing providing they're focused on closing the value gap to our peers in other ways. To that end I don't see them doing anything. And the fact our Q4 results are late again doesn't help. AIMHO GLA

Nonegspleeze, if you were in Rambler at the same time then you'd know the reasons why I felt mgt were making the wrong decision on changing reporting. You'll also know it was only a few die-hard rampers that filtered me, not that I give a f@ck about someone doing such a thing. Always amuses me when someone says 'filtered' as if they think it's really going to have an impact on the person disagreeing with their pov. I got that investment wrong in the end and did £70k on it. Having said that I did get my assessment right, and my losses were limited greatly compared what could have happened. Those following the rampers with an alternate viewpoint are all but wiped out right now. Point being that listening to a negative viewpoint on an investment can be quite helpful, especially if that person is a decent sized PI. As for this investment, you'll probably remember from Rambler that I got into an argument with another poster as I said that I was going to sell down my holding when in a decent profit and move back to here. I'm more than satisfied with many of the decisions made by mgt here. But I'm not happy with their lack of commitment to addressing the yawning valuation gap amongst our peers. And their tardiness when it comes to reporting or getting the important things right like their forecasts. Given I've put more of my own money into this company than Majid, I think I'm quite entitled to being having an opinion (good or bad) on what mgt have / have not been doing. And I certainly wouldn't say that I've been ripping the @ss out of this company given I'm continuing to invest my dividends here. I just think mgt can do better to fix the sp, without having to do or spend all that much. AIMHO GLA

Very interesting on the technicals Stas. I wish I had more money to throw in here. As for the Q4 results, perhaps they will help. Perhaps not. We'll only know when we get them, which one would hope to be this month given they've already missed their deadline. And as you've said the yield is getting silly now, which is all the more reason for them to start talking about it when the Q4 results finally land.

Tony your post last week about buy-backs isn't quite accurate. I've said doing buy-backs in any real volume in my experience does f'all, and I'd be disappointed if they did them. I put this down to investors riding the BB wave before they dump at first sign of the money drying up. They also cost an immense amount to do in any real volume, as the company is effectively driving up the price and paying more for every share they buy over that period of time. So given the choices between increasing production, dividend, or doing bb's, I argued for divi and production increases, and the good thing (for me) is mgt agreed with this pov. And we're all getting a better income as a result, whish is great. Having said this I am in favor of strategic buy-backs i.e. when the sp is at such a ridiculous low due to major player(s) selling off. In these circumstances the company gets to pick up a significant chunk of shares at a significant discount to fair value, and far lower than if they were buying on the open market. So potentially a good investment decision depending on how under-valued the company happens to be, like us now. It's good to see some data that addresses the effectiveness buy backs all the same, rather than just my opinon / experience.

Also, I'm not going to run the numbers on BP as I don't have to. You've pulled BP's previous all-time high from 21 years ago then compared to now (BP is 20% lower now), and then compared to i3e. Just to keep with your sp comparison then you should also compare i3e to its all-time high less than 5 years ago of 120p. You can add the divi yield for the past 2 years, but it ain't going to get us back to 120p. As for BP, I said that if you reinvested the dividend (circa 4.5% yield over that 21 years) then you'd be comfortably in profit. And for BP you'd be at least 50% higher than current sp fwiw.

Anyway, the sp here is a joke compared to peer value, and in my opinion mgt can do more to help close the gap especially with some PR around good Q4 results, production gains, some of those Waipiti wells, or even a strategic buy-back. Hopefully some news soon. AIMHO GLA

UK investors had bought in but then left when mgt released two fairly substantial financial misses, an uninspiring f/o partner, plus an exploration miss. The issue is they haven't released a lot of good news except for the dividend increase. Just imagine if they hadn't done that... They've done simply nowhere near enough PR for the market to understand they can get a +10% guaranteed yield by dropping their money into a company with next to zero risk and modest to good growth potential. We've a great story, but they're not telling it to anyone, which should have been a priority after the successive bad news pieces and weakness in commodity prices. They need to do better on this front, or they need to buy-back some shares. Such a move will get investor's attention if they're unwilling to do some legwork on the PR front. Hopefully Q4 guidance met, alongside a decent reserves upgrade to help stop the rot. AIMHO GLA

Tony, if you include divis over that period of time (let alone reinvesting them) I think the BP investment would have made considerable money. But all of this doesn't change the fact that we're grossly under-valued versus Canadian peers on just about every commercial metric one can think of. If we were at or even near the industry average I wouldn't be complaining about the value disconnect. But we're miles off, plus we don't have geo-political risk like the very few others who are valued on similar metrics. And I simply don't buy us being a 'new company' as to why we're under-valued by the market. All that means is mgt needs to get off their @sses more than the average to sell our name and story. Instead they've done bugger all and then try to pass off responsibility for the issue by saying it's due to being 'new' to the market. And it's also not all down to IIs selling as we've been under-valued by some distance before they started offloading. This is a mgt and they need to start making some moves to fix it. If the can't be bothered with the PR side of things then do a strategic, targeted buy-back of II loose shares and cancel them. The case for buy-backs at 20p is pretty strong. And they better hit their numbers for Q4. If it's another miss we're going to be in the teens for sometime. AIMHO GLA

Disappointing mgt have missed their own timings yet again. Continually missing such things is bl@@dy annoying as the market will mark you down for such things and it's then harder to push upwards when (if) they finally deliver some good news. If they miss their targets again then senior mgt need to have a good hard look at where the fault lies, and at themselves, and consider whether the party(ies) are worth their salary. Finally, whose job is it to generate some publicity to help close the yawning (and growing) valuation gap versus our peers? If there isn't a person responsible they need to put it in someone's annual objectives. If there is, well they need to look at that person as well. Complete joke that a company with so many good news stories is unable to generate any news. And of course there's the paid publicity option, like having your video in the side bar of lse like Petro Matad have at the moment. There's a huge number of eyeballs that see these vids every day. These things will close the valuation gap, and cost next to nothing. If they agree we're not on investor radars, well then put us on radars. How the f@ck do I know about a joke company and their constant failures like 88e, yet not i3e...? Send some emails if you agree. I'll be doing the same. It's simply not good enough and yes the dividend is great, but not if your value is going backwards at a greater rate for no reason other than mgt can't get of their @sses and et the little things right. AIMHO GLA

Crwys, sorry to hear you've had surgery and do hope it went well. I'm a little confused on your point regarding the new CFO - Are you suggesting this points toward an asset disposal or t/o? Ryan has always been on the books so in my mind we're paying less overall for staff and replacing one experienced person with another.

As for the income, yes I'm sitting here for the same reasons. It's wonderful to be getting paid each month to sit on my backside. But it doesn't change the fact they need to hit or exceed their targets in the next updates. These sorts of things need to be spot on moving forward. With a bit of momentum and our IIs slowing / ceasing their selling we can start to move back toward a semi-reasonable valuation around 30p. But they need to hit their numbers and push our very investable story for that momentum to begin. AIMHO GLA

Big old 1m trade earlier today. Really looking forward to the day these IIs finalise whatever the hell they're doing.

Joe, Jezzoo, yes there is fair criticism of mgt when it comes to shareholder comms, sharing things of value with the market, and doing the big and small things right (like hitting numbers, timings, and generating publicity). I'm not ok with their lax approach to such things, as we all know of mgt who make a real effort to sell their company to the investment community can result in it being over-valued by significant margins versus the average. If you consider that we're undervalued by 75% versus our Canadian peers then with a bit of effort mgt could quite easily close this gap and we would still only be considered 'fair value'. It's also incredibly frustrating to see a mgt team regularly talking about our value disconnect and doing little to change the situation. And when you then consider that one of the reasons we're down here is people are ignoring the fundamentals because when they have heard of recently it's been to announce a commercial miss (x2), or an exploration miss. There's lots of good news with i3e, it's just that mgt do f'all to publicize it. Hopefully they can go near their reporting timings by releasing them this week. And more importantly they need to hit (or exceed) their bl@@dy numbers. If the latter then I want to see them start pushing the story. We get another big fat monthly divi paid end of play today, yet few on lse has even heard of us, let alone our brilliant story and fundamentals. Bonkers. AIMHO GLA

Sorry forgot to say thanks Dreamboat for the response.

Can someone confirm if I've got this right:

- Straight merger where they receive 20% of the value of Solgold as an entity equating to 15 Solg shares for every CNR share
And
- Solg have the right to pay for 20% (of that 20%) of the consideration in cash, equating to 4% of Solg shares in issue

Can someone confirm this is correct? If so a few questions:
- Is there a set price that Solg can elect to buy the 20% (of 20%)?
- Does CNR come with any assets?
- Someone has mentioned previously Solg own a % of CNR, how much do they own?

Thanks for your help (to anyone who responds).

Folks is someone able to provide a run-down of the merger deal with Cornerstone? Or point me in the direction of where it's stated. Thanks in advance for any help.

Wonder when we will get the Q4 results. Hopefully a surprise to the upside this time. If they disappoint like the last two financial updates it ain't going to be pretty, even with a 10% yield. Mgt simply must deliver from now. And ideally provide a bit of unexpected cheer. Amazing the difference in sp of beating forecast by even 5% versus missing it by the same amount. Can't be long now. GLA

The 17k at 19.977 was mine earlier today (not a sell). And another 15k at 20p just now. That's all my ISA divi money reinvested for this month. Looking forward to next payment day. GLA

Quick question as I'm too lazy to dig around for this - what are they paying for CGP's 15% i.e. how is the deal structured?

Let's hope they hit their bl@@dy numbers this time. I don't even want to think about another miss when we're now at 20p. Mgt need to show they're on top of everything and deliver or exceed their most recent Q4 & 2022 FY forecasts.

Thanks Tony. V.interesting looking at Canadian comparisons. VET looks like a good investment but has a couple of obvious issues namely; 1. European WFT, and 2. Net Debt. Although their net debt is chunky it's still quite low compared to the amount of cash being thrown off. I'm unsure much tax they can write off, but $250m has been mentioned as the addition to their tax bill which is a fairly hefty kick in the teeth. Having said this roughly 2/3rds of their production comes from Nth America so the majority of cashflow is protected. I'm guessing the WFT is why the company appears so under-valued - I wonder is Shubham has allowed for this in his calculations...?

PTAL we have of course discussed on the board previously. This is the only other O&G play I'd be willing to make right now. If they can get the transportation working well enough to transport +13.5kbopd, and Brent stays above $80, they have at least 50% upside even allowing for significant geo-political risk downgrade. Reckon the market is waiting to see if they can achieve the transportation number before re-rating the stock. Production is absolutely no problem.

Based on everything I've seen we're comfortably the most under-valued, safe investment in Canada. We've got a massive divi yield, which is guaranteed for the year. Safe jurisdiction. Reliable, low risk production. No debt. No WFT concerns. And we have huge amounts of blue-sky with our acreage. I'd personally like to see the company take out a bit of debt to get the drill bit turning more at the moment. Either that or announce they've bought 50m shares from these f@cking IIs and cancel them. The impact of this last point would be immediate and I do believe would send the sp soaring as the market know the selling will significantly decline, plus holders would get an extra +4% on our divi yield, which would take us to .178p per month. Anyway, another ex-divi this week to keep us all happy whilst we await their next move. AIMHO GLA

Some pretty big late printed trades today...