Member Info for G_G_G

Not yet Tony, but will have a listen this evening. Been v.busy with work believe it or not. From the rns I imagine it was very positive as the results are there in black and white. Divi was solid and will be a monster in 6 months time. We just need to get past the over-hang, which I still believe will require the f/o. Otherwise we'll stay in this 'two steps forward, 1 step back' cycle until those shares are rinsed and we hit blue-sky. Impossible to lose with this stock from here, which isn't something you get to say all too often when investing. Providing we break the 16.5p 12 month high and stay there before the end of the year I'll be a very happy man (yes I am a man guys).

Hands up fellas, my name isn't Gennady Golovkin. Although I am a ggg.

Yes wolf, but it's also 1 month after the initial deadline. And Covid isn't something new to the area. They really don't have any excuses for delays to the financing so there's no point trying to manufacture one with Covid. My previous posts are pointing to the sp being punished harder if they try to do this, as it will not only be a clear display of incompetence, but a blow to confidence and trust in mgt. If financing is to be delayed they should have owned it rather than trying to hide behind Covid. Anyway, we won't know what course of action they have taken (if any) until they issue the financing rns this week. Best to wait and see what they're made of before any further judgement.

Agree Blue-square. If they're thinking a couple of 'softening' Covid rns are a way of delivering their bad news they really are amateurish as the market sees right through such things and has less trust / confidence in them moving forward. Far better to be up-front and honest as quickly as possible i.e. if they thought the financing would slip yet again they should come out and say it as soon as they know, rather than doing what all poorly run companies do and leave it to deadline day, or sometimes after. It simply points to them being AIM amateurs. There's also the degree of gutlessness to such behavior as well. When a company gives a profit warning well in advance it gives more confidence to shareholders than companies who surprise them at interims. Anyway hopefully they can deliver on this overdue milestone by their new timings. Huge amount of potential in this company, especially at this sp, but it does need mgt to do better than what they've been doing of late. GLA

Not great of the company to delay its interims. Even worse that it happened just after I topped up :)

They way I see it they really do need to hit their financing timeline now, especially given its already 1 month overdue. They cannot use Covid for all / any delays to the timings they have provided. They still need to deliver on their words if they want credibility and trust in the market. Better to land the financing and miss (slightly) the timings on your production goals than the other way around. Only financing will allow them to improve the production profile, and if they're running at full capacity a couple of months later than expected then it's a miss but one can say they got there in the end and although the sp wont be as high as it could have been, it will be a lot higher than what it is now. Let's see if they deliver the financing, because any delays to this will look quite tardy and amateurish, which aren't sp appreciative qualities when judging management. GLA

That was me who picked up the 65k at 22p. Sitting on close to 200k now at 22.1p. Hopefully finance news lands this week and the quick climb back to 30p can begin. I wouldn't expect too far beyond that until some production figures are released though. The money de-risks the project, which is the nearest major milestone, but they still need to show they can deliver on their stated production targets. GLA

Not quite the fireworks we were all hoping for. Lots of PI trading happening by the looks of things, which again isn't a bad thing when you're trying to clear an over-hang. Divi was expected. I was hoping they would be more generous for H1 given the dilution we've all recently experienced but they still hit my lower expectation for H1 payout and quite welcomed. Looks good for a circa 0.5p April payment given today's results. Although that is 7 months away.

Tony, agree with your note regarding fcf and NOI being lower than expected and a better understanding of their costs and peer group comparison on these multiples is warranted. Obviously I disagree with you on using a degree of debt mix on Cenovus acquisition as I'm more concerned with sp appreciation and higher divis for the modest debt increase.

I'm unable to make the call but the other things I'd question are:
- H2 gas hedging prices - they appear low to me
- Estimate / target for the Serenity f/o to be completed. We've previously heard Q3, so I'm guessing now Q4 but it would be nice to understand their target (month) f/o completion and drill dates
- What is their target H2 NOI and fcf
- What is their target H2 divi payout
- Canada exploration plans - how many drills planned for the remainder of the year

Well I just bought 75k & 50k in the low 22's. Been keeping an eye on this stock for a while now and figure it's close to as cheap as it'll get. The selling today offered a good entry, although the absolute bottom looks to be 20p. It'll be pretty poor form if they back out on their financing deadline this late in the day. I just re-read the financing rns and it's pretty definitive that it's going ahead. Timing is the question. Looks good for a re-rate after the recent 27p run.

Sorry didn't realize it's the same amount of shares. My guess is it's a transfer from a Barbados to Guernsey account, or something like that. Wonder when Hanno is going to pop up with some form of statement.

Wow not sure wtf is going on here. Then again no-one knows wtf is going on here regardless of Xi and any of his promises. Who has soaked up that amount of shares? Can't imagine Hanno breaking into his offshore trust fund. I can only think of SF as being a potential buyer, but surely he would have bought them in the recent bargain basement raise if he wanted more ownership...? Whoever bought them knows more than us that's for sure. Plot thickens. What a drama.

Thanks Rocket. I've had a pretty good run of late so although it hurts I'll get over it. To be honest I feel surprisingly relieved to have pulled the plug. I really would lose my mind if I was continuing to wake up every day to check whether anything has actually happened. As extrader has pointed out, we're not going to get any real clarity on this for sometime. And given Hanno has been hiding our head post EPC contract signing, I doubt he's about to stick it above the parapet now. So more questions, silence and confusion no doubt to ensue. So many lessons to be learned from this one. Good luck folks.

I'm out. Surprised I managed to get 1.75m away today at about 1.3p average. Those 250 / 500k trades have been mine this morning. I've thought about getting out of this company so many times over the past 6 months but always believed Hanno would deliver on those milestones in H1 and expected to profit. Following the long drawn out silence I then never wanted to crystalize my losses. In the end this dog has taken about £65k from me. Truly sorry to those people I've mentioned this company to before. It was always a binary play. But the mgt and general environment (including Moz) have a nasty stink. I also believe Hanno, like most trust fund babies who haven't earned their position, is completely out of his depth. You could never rely on a single word that came out of his mouth. And now he's gone to saying nothing for months on end, only to say nothing when he finally delivers a major milestone. I'm truly lost for words when it comes to how he's managed this company over the years. So that's it for me. It's never the smartest thing to sell on emotion but even if the sp goes to 4p tomorrow I'm glad to be out of this one. Very expensive and valuable lesson learned. Sad thing for me is had I put the £110k that was in here into my other 2 x AIM stocks I'd have close to £1m in AIM right now. Thankfully they're doing very well, but can't help thinking what could have been. That £110 would be worth at least £250k, rather than £45k. Good luck to those with the cojones to stay in.

I'm hoping EDM and Moz are taking a good hard look at themselves right now as well. As critical as I've been of Hanno's stewardship, judgement and foresight, he isn't responsible for the hold-ups. Appears Moz gov.t has scored an own goal on their electrification program and this part of Africa will remain in the dark ages for a while longer.

Still nothing from Hanno and co. I wonder if they're now going to make some sort of statement about the coal project or keep hiding behind the usual rubbish. Turns out doing some PR on the EPC wouldn't have made any difference to what Xi has just said anyway. Dare I say now is the time to provide some sort of clarity and information on the 'green' side of the business.

Ok, one more post.

Tony, I think if you go back through my posts I've been fairly consistent in saying +50m shares. And imo I doubt we're even half way though that number. I think a lot of buying and selling has been done by PIs so not necessarily rebalancing the II books. Just my opinion and I have no way of proving this to be the case. Agree on all your other points. My point about the f/o is it will create a new higher base i.e. a quick re-rate. Without it I too expect we should be back above 15p for all the reasons you've mentioned. That's 3 months though.

DOPW, mate you need to relax. If your average is above current sp then I'd suggest you average down for all the reasons mentioned in my previous posts. Up to you, it's your money. As most know I'm incredibly f@cked off with the way mgt paid for the recent acquisition. But this hasn't stopped me from buying a couple of hundred k more shares. If one of my other AIM stocks wasn't such a basket case I'd be looking to buy another 500k or so here. The sp disconnect is ridiculous, but with each report the market will see the numbers in black and white and trust will be built. Hopefully they're looking at some form of debt instrument as we type so they don't do another massive raise to fund another acquisition. Really can't see them doing this before we hit 20p so for now things can only go up. I know you got spiked before they did the raise, which sucks. But you can lower your average if you choose to do so.

DOPW, the company is worth +20p all day on current knowns and current market multiples. The reason we're not at this level is because 360m shares were printed recently at 11p. Look at the 12 month chart. The trajectory will remain like this (modest incline), unless they do things to increase the gradient. This would include drilling a lot more wells. Or buying back 50-100m shares. Obviously poo and gas is helping, but this shouldn't be relied on by mgt. When the f/o lands it will give us a spike to a new higher base. The sp will jump around a bit but I'd expect it to add a couple of pennies to our base when it settles, and the slow rise will then continue. The rise will then steepen as we approach and begin f/o drilling, which always occurs. In other words you're going to have to be patient. And if you have spare cash it's one of the biggest no-brainers I've ever seen. Just f'ing annoying they printed so many shares. Anyway, enough from me. I have to get back to work.

Couldn't agree more Pirate. Simple fact is we now have to wait for excess raise shares to be churned. And this is likely to happen multiple times. So imo we'll be waiting months to slowly creep above 15p and stay there, or until the f/o lands. The fundamentals etc. are incredibly strong and cannot be disputed, but mgt broke the legs of the sp and it's only now at the point that it's ready to start walking again. Let's hope mgt really play up the numbers in the results, and more importantly forward guidance. I'd also like to see them commit to a lot more drilling. Not the odd well here and there, but a +15 well drilling program over the next 6 months. They're not going to move the needle all that much with a few results like the recent ones. I'd also like them to be generous on the first half yearly divi payout. Happy for the second payout to be less, but we need to shift shares so weighting a little more in the first 6 months would no doubt attract more investors. Finally, they should do a share buy-back if they're not going to be drilling a lot more wells in the coming months. The sp is slightly above raise price so if they're not spending the money on drilling they should buy-back some of the 360m shares they printed and handed to IIs.

Tell you what, if gas prices continue in this manner, which they should for the next 12 months, then we're going to be receiving a number of very big dividends next year. And can expect very strong value growth once the placing shares are rinsed. Expecting the results and forward guidance to give us a nice boost past 13p. However we'll still have the remaining issue of the placing shares being flipped. I think we have quite a while to go on current volumes. The f/o is the key to getting us past 15p and on our way to a more respectable 20p. Of course a t/o offer would be even better. I'd rather take a guaranteed 20-25p now than having to wait another 12 months. With forecast poo and gas they must be on a few radars right now. Once the hedges expire the gas side of the business is going to be be throwing off a ton of cash.

Always keeping an eye on this stock. Great contrarian investment at 20p. Now it's a steal. Fwiw I believe the reason it's being shunned is sector combined with perceived country risk. It matters not where the islamists are operating if the market thinks they're too close. It matters not whether the new government (Mali + Guinea) are better than the last bunch of corrupt pr!cks, so long as the market has question marks over what the new guys are going to do next. Anyway, I need another investment to come off and then I'll chuck some money in here. The financials here must be the best in the sector.

Looking healthier gentlemen and ladies. I've been saying it would be a long slog due to the overhang, however the sp is starting to consolidate nicely 0.1p at a time. Telegraph article definitely helped to shift some shares into other hands. The sp has been struggling to break 11.8p so hopefully the run up to news will leave it in the rearview for good. Having said this, it could also be the funds have stopped selling for a reason. Last time it was due to the mega-raise. This time...? Perhaps they're waiting for the financials to land. Alternative would be the f/o, which cannot be far away.