Member Info for granto

he was always likely to sell so better now than later. No idea why but it's not in keeping with his CEO and directors who are buying. Eastern Europe is not in good shape so maybe he needs his cash for something else. He has created a buying vacuum and the SP is now temporarily discounted . If a II bailed out I would be alarmed but not a private investor . GLA

finally got to read the proposal fully. It's a very good deal for all parties and very fair . I have read all the fine print and all bases are covered . Capex and operational Costs are in line with expectations . I think exciting times lie ahead . It would be nice to have some Profit and loss projections !! Please ?

KULCZYK is the private investment vehicle of a Polish entrepreneur of the same name. I personally see his selling off of his shares as excellent news as it will increase the number of shareholders and increase the free float. we may see a temporary drop as the market absorbs his shares. After that it is likely we will have new II onboard .

I read their accounts several months back and it was clear they did not have the money, had no finance in place. and really were just trying to disrupt the sale to delay the mine opening and keeping the market for themselves locally . the only thing is they should have made an offer of 10p to really throw the cat into the room. I think the BoD should have made the new approach public. we were never told a price per share was offered.

will return here and give my comments. Like you Spin I traded in and out and that helped me, but still down 20%. not too bad considering

I have only read over it, It is broadly as expected and predicted by posters here. It's a fair deal in todays market but a blow to long term holders.

TR, I left Afren bb because it was eating away at my soul. I sold 90% of my remaining portfolio there and invested most of it here when the SP was at 119, and 123, and I told fellow posters on Afren that this was the only share I felt comfortable 'tipping'. A few followed me. so here we are nearly 50p higher. I always intended buying back into Afren as we approach the EGM and AR time. I got all my Afren losses back here and also on Richland Resources . So I am fortunate. Glad you are here too.

daily tick up…

still here, disaster, Glad I avoided the crash from 2.50 when you mocked those that flagged this one as a bad buy.

This time 18 months ago this company was in danger of bankruptcy, the timing of the Oil India deal was very fortunate , however, the downturn in Oil prices has hit everyone. I have lost here like many of us. I am here for another year I guess.

Duster is a long term negative poster here but not without knowledge, even if Duster seldom has balance he is worth a listen to. clearly PTR is far from dead and is breaking new ground in exploration, drilling, piping, Siesmic 3d studies, and all things growing companies do. Debt free exploration companies with producing assets are rare on AIM, add in a free carry on a $45million drilling programme and all of a sudden the years ahead do not look so bleak. The RF economy is down 2% this year….yeah thats not a disaster. Up to you

totally agree, I think this is all about Rhea. However if it is a success they may have an appetite for more elsewhere on the license, with the cost of moving the rig being reduced due to being on location. However I think Rhea will be the only wells here. Not for me at this price, bit hopefully if it drops I can take some.

we all know that junior resource stock with little or no income burn through their cash faster than you can blink . Cash here is a depleting asset - the question is how can we turn our licenses into producers before the cash runs out . Don't get hung up on the cash - nice to have but that's it.

I am interested in hearing more of what you have to say, because so far you have shown you have some interest here but what you are writing lacks weight. I am new here and really cannot comment either way. I bought a small slice last week to add to my Celtic Sea portfolio, so I suggest of you are going to have a kick at this at least show some calculations and insight. otherwise , you are a troll.

your glass was in danger of falling off the table completely - the Ophir deal was more than fair. A good merger I think and the market likes it . Your glass is half full but hey it could have emptied completely - all O&G companies are down . No quick growth here , maybe you need a faster risk ? Tullow ?

Warning! Rockazoni & Boxian Today 13:51I noticed the Rockazoni and Boxian have practically identical grammar and language formation, I strongly suspected they are one and the same poster. I decided to check to their posting history of the various companies they like to post on. Guess what ? Rockozoni top 3 most commented on companies are NBR AFC and GSR Boxian's top 3 most commented on companies are NBR AFC and would you believe GSR. and to add the the mathematical amazement for anyone thinking this could be a fluke. Both posters also recently posted on ARMS, AUCT, CHLA, and many more. both posters use identical grammar and sentence formations and style. I am convinced they are the same person I ask u all to go to each other last posts and report that post.

Lately this has just ticked up daily - for a few weeks !

yep and if Kinsale's development rig strikes it's expected gas on Lansdownes Midleton I think that rig may stay in the Celtic sea.

I ran some new ideas and figures past myself, without referring to my last calculations. I came up with a similar deal/ here goes. I think a fair deal would be a 66.6% to 33.3% split. I see Oaktree putting in €25m cash equity into the project in exchange for that 50%, However I see them paying $8.3m cash directly to Ormonde for an additional 16.6%. based on a company value of $50m and $500k for each percent bought. the JV partnership borrows €25m to €30m to build the mine. plus a €500,000 a year Management fee paid to Ormonde Mining. an agreed €3m feasibility fund for the mines extension pencilled in with Oaktree taking the tab The mine should produce €20m operating profit a year. take away €5m for debt repayments. leaving €15m a year, with ORM getting 33.3% or roughly €5m of that and a management fee. but retaining the company's other assets. These are worth several million on their own. so what have we got? I think Ormonde's share producing profit of €5m a year will value the company tungsten mine at a minimum of €25m, add on the Cash of $8.3m less the Short Term loan = $6.3m (€5m) Plus the value of the external assets , say €3m Total value = $33m or £26m. Or a value of 5.47p a share. Yep a lot different from my last calculation, but this is mainly due to me valuing the company's mine at only 5 times its profits. In reality it could be 7, 8, 9 10, times . But playing safe. either way Fair Value assuming we get a fair deal out of Oaktree, and they gave a generous offer of Pulse Electronics. 5.47p a share is my safety target price.

I ran some new ideas and figures past myself, without referring to my last calculations. I came up with a similar deal/ here goes. I think a fair deal would be a 66.6% to 33.3% split. I see Oaktree putting in €25m cash equity into the project in exchange for that 50%, However I see them paying $7.5m cash directly to Ormonde for an additional 16.6%. based on a company value of $50m and $500k for each percent bought. the JV partnership borrows €25m to €30m to build the mine. plus a €500,000 a year Management fee paid to Ormonde Mining. an agreed €3m feasibility fund for the mines extension pencilled in with Oaktree taking the tab The mine should produce €20m operating profit a year. take away €5m for debt repayments. leaving €15m a year, with ORM getting 33.3% or roughly €5m of that and a management fee. but retaining the company's other assets. These are worth several million on their own. so what have we got? I think Ormonde's share producing profit of €5m a year will value the company tungsten mine at a minimum of €25m, add on the Cash of $7.5m less the Short Term loan = $5m (€4m) Plus the value of the external assets , say €3m Total value = $32m or £26m. Or a value of 5.47p a share. Yep a lot different from my last calculation, but this is mainly due to me valuing the company's mine at only 5 times its profits. In reality it could be 7, 8, 9 10, times . But playing safe. either way Fair Value assuming we get a fair deal out of Oaktree, and they gave a generous offer of Pulse Electronics. 5.47p a share is my safety target price.