Member Info for gordon1237

Asx means nothing. 0.001 seems to be their minimum movement which gives a 33% rise to 0.004. If it is back down to 0.003 that will be a 25%
fall. Also a piddling 3 million volume.

It is more likely that I will win the lottery tonight than us seeing 0.3 today. By the way I don't have any tickets. Lol.

It certainly shows how low expectations have become when people get excited at the prospects of 0.17p when not so long ago Beadle was being derided for suggesting it might go below 0.2p.

Nice to see something positive for a change. The company don't have much cash but this is being paid for in shares. It is actually a pretty small deal, only about £50k cash equivalent. Interesting to see how the market reacts. Hard to see a massive rise. Gla

Wasn't there talk, once a settlement is agreed, of a farm in/out (shake it all about), giving away part of Cambay in exchange for cash.

As you say everything hinges on a settlement and what we get out of it. Could be anything from great to bugger all.

I would have thought that if Cambay is settled before October they wouldn't need the placing. Not short term just to survive anyway. Gla.

Kabaa. Not outlandish at all I'm afraid. As our American friends would say, you do the math. I am making an assumption that the continuing rate of cash burn will average the same as the last 3 months. If you know of any reason why this is wrong I will stand corrected.
Cash reserves at end of March were $1.275m (assume USD as no A prefix). At end of June $0.4m. So an average burn of $0.29m a month. So that makes it approximately $0.11m left by end of July. Add the placing of £0.34m or $0.40m gives $0.51m. So by end of August about $0.22m left. That means the cash could run out even before they have to pay the deferred loan back on1st October.
A lot if assumptions and approximations there I know, but it demonstrates how precarious the position is.

If there is no settlement before 1st October they will definitely need another placing with more dilution making it even harder for us to ever get our money back.

Nice of you to take one for the team. Lol.

Let's hope they last long enough for that to happen.

I have no doubt it is true that the plans are well advanced just as they were 3 months ago. It's putting the plans into action that's the problem. That can't possibly happen until the dispute is settled. Even then further finance and/or a new partner would be needed.

Lol. I'd be happy with 0.6p. Even that seems like a massive long shot.

That's about as likely as me living long enough to take a tourist trip to Mars. Lol. Gla.

PS your figure of 300k also gives a 99% reduction.

Yuri, who said anything about 40 million for one share? You said $40 million for 244 million shares. Assuming that's right it works out at about 14p a share. About 100 times today's price. Hence a 99% loss. To put it the other way round they need a 10000 % increase to get their money back. LMAO.

be an act of

Not sure what you are on about Chesh. The 99% reduction was a simple calculation based on Yuri's figures. Whatever the rns says you would have to be bonkers not to be hacked off about that. All of those have for a fraction of the company put in many times what the whole thing is now worth.
I agree with Yuri about salaries. In fact I would say it would an act of good faith for the likes of Joe to work for nothing for a while.

I think they might be slightly irritated at seeing an investment decline by 99%.

Another 10% dilution whilst telling us the same old tedious story. Well whoop a bloody doo!