Member Info for havealot

Fairdealer20

'..... completely Independant Examination of the Company's affairs,'

ANSWER: We have auditors currently doing this!

whatwhatkid

'....when the company doesn’t even have a finance department ?'

Answer: We are dealing with a small mining company, not an international conglomerate.

We are getting such inane comments on this board it is unbelievable.

saluc

'These allegations come from a few people who are desperate to blame someone else for their own poorly timed investment. '

Agree entirely the fact that they only post on this one company suggests they have put all their funds into this one share. Who with any sense would do this with a small mining company.

The fee was $1m not '£'s. However what most holders fear is more dilution and further delays. I think this is what is holding the SP back.

They still have to find customers for our oil of course. Something QED have found difficult to date.Not wishing to put a damper on things but after 10 years....

There is more damage done from the continual sniping from the sidelines in IMO.

I only hope that the losers accept the result and sell their shares and move on. Then whoever is left running the company get on with the job in hand.

I would have thought Rollins would have been better served concentrating on his day job at Beacon Energy. Their shareholders are voicing much of the same criticism of their board as is being voiced here.

This will not be going under, just massive dilution of existing shareholders by the takeover group. They themselves will be OK because of massive options and salaries they ultimately award themselves. The losers will be existing shareholders. Do NOT let them walk off with YOUR assets. This is a social media driven campaign to take over this company cheaply. Vote against.

I do not normally get 'admin' posts informing of company events. most unusual! Thre was no admin post informing of TGR presentation.

I have been investing in small UK companies for over 40 years and I have had some real 'dogs' during this time.However I have NEVER experienced a company and its management receive so much denigration before. Many of those voicing criticism are only commenting on this one company. Which surprises me somewhat. These posters are either (1) inexperienced investors who have put all their savings into TGR (very risky strategy in any case) or (2) the accounts are 'false' have been set up specifically to attack TGR.

Many of the criticism are unsubstantiated and very superficial especially as many small growing companies are struggling for cash at the moment but are not suffering attacks like TGR. If I was a conspiracy theorist I would believe there are competitors or other outside forces acting against all shareholders interests and trying to drive the company under. What is it about TGR which is causing such coordinated and virulent attacks because as far as I can see no smoking gun has been revealed. I am very suspicious over the whole episode.

Why am I getting an 'Admin' post dated 03 June 2024 09:00 referencing the Q&A meeting at the head of my chat page all the time. Anyone else experiencing this issue. I have never had anything like this before.

For the life of me I cannot see what the objective of the buy back was back was! Without any prospect of orders the share price was always going to drift down. There is no way a small buy back programme was going to support the share price for any length of time, if this was the intention. I think they were badly advised and have realised there is no point in throwing good money after bad. Most shareholders expected a special dividend payment not what eventually transpired. Once again the board have succeeded in shafting shareholders.

Re the video. So they are going to raise £5m bridging finance. Under present market conditions this will cost 15% interest. They are proposing increasing margins by bringing work inhouse. To do this they will need to recruit technicians locally, this will take time even if the expertise is available. A management structure will take time to implement meanwhile who is going to run operations on the ground. Completely unrealistic plan in my opinion.

The share price will rise when promised targets are met. I am not talking car or truck numbers, but cash flow. What most long term shareholders fear is dilution. Many companies do well without LTH's gaining any benefit whatsoever.

Obviously this information has leaked. Explains the rise in share price over the last week.

They are still burning cash. Until this company becomes cash flow positive there will be no significant increase in share price. For years now we shareholders have been promised progress which has simply not materialised. The market remembers missed targets and does not accept promises from this company anymore. It has been dilution after dilution with lack of cost discipline. If Paul does not understand these simple market factors he should not be CEO. But I am sure he does understand but will not concede his past mistakes. He has after all made a good living on the back of us LTH's.

We can all imagine complex Creative Accounting in some circumstances but not realistic given the limited resources at TGR's disposal.

As I understand it, VAT is paid on TGR's purchases, capital items etc. Under some circumstances this is reclaimable. Nothing to do with Panagraf. Another red herring being promulgated.

We still have no plan from the takeover group as to how they plan to raise capital. If they had a plan would you not think they would reveal it before the vote. This is because costs will escalate with the change in management leaving their only option to massively dilute the existing shareholders whilst paying themselves huge salaries followed by share options. You have been warned.

Of course what he does not say is where the working capital is to come from. all we get is a history lesson.

Corporate governance is an issue going forward. No one denies this, but the urgent priority with this company is keeping the show on the road. This means conserving cash, raising working capital and recruitment of a suitably qualified CFO. Many issues being brought up are a distraction at the present time. There are two options for shareholders. The first is to allow management to work their way out of the problem which means slowing output and growth to a level which can be supported by existing capital and cutting expenditure accordingly. This has been Shishir's policy over the last 12 months. Alternatively a massive dilution to raise more capital possibly all but wiping out existing shareholders. The takeover group will involve the latter, no doubt about that. There is no magic bullet here, but it should be possible to continue in a reduced capacity and still remain viable until VAT refunds are received or the economic and company situation gradually improves. Unfortunately it is difficult to get out of the swamp when fighting off predators at the same time and this is what is being forced on the company because of the opportunistic actions of the FTG group. All shareholders should reject the proposals outright.