Member Info for HawaiifiveO

As ever there are more than a few entities working the bulletin boards in an attempt to discredit Ascent and the new BOD.

The litigation suggested by the new BOD covers many areas, of course the negative bashing brigade focus on well stimulation but significant damage to shareholder value occurred via other means also. The Environment Minister posted price sensitive information on social media which resulted in shareholder loss. This was mentioned in the Legal document which appears on the AST website.

Another aspect are the material delays, breaches of protocol and EU Law, concerning the appeal process, the aforementioned delays have also resulted in significant loss of shareholder value.

For those interested readers should look at the quality of the Lawyer who is representing Ascent as well as looking at the Notice of Dispute. So there are more aspects of litigation than the stimulation of wells as the negative posters prefer to focus on.

For what it is worth I believe the new BOD will be anxious to deliver upside to long suffering shareholders, as a group their reputation is severely tarnished, they need to repair that reputation.

I am very happy to be wrong but, alas, in this case I believe I am right in as much the proposition suggested that the company needs to APPLY for CANCELLATION is only if the BOD decide to remove the listing on a voluntary basis, in this case procedures are necessary as well as the need to gain shareholder approval.

I am not close to the internals of the Action Group so maybe Les and possibly a few other folk have a bearing as to what may happen but as I see it, unless news is forthcoming early next week (Monday/Tuesday), then the listing will be removed and the company will need to go through a Re-admission Document if it is to be restored, a lengthy and costly process.

Now there are a few exceptional matters where an extension may be allowed, namely the COVID one or if the Nomad can convince the authorities that a deal is imminent.

I continue to find it exceptionally strange that a Group purporting to hold 25%+ of the equity has not, at any time, been brought to the table or informed on the situation at hand, this is truly remarkable.

The Final Results are delayed due to the financial position, a overdue quarterly update, no AGM date and some conclusion on the debt situation - all these matters have to be resolved before a listing can be restored.

I remain hopeful but am exceptionally sceptical, in the circumstances we find ourselves in history suggests there is rarely a positive outcome for the minorities. I really do hope I am wrong.

Looks like some entity (or entities) have taken a spread bet position anticipating a major move in the share price, it seems September may be a significant month for Ascent, a few rumours kicking around suggesting the same on social media - we will see.

With only 75m shares in issue it would not take much volume to move the shares disproportionally.

Does look like a breakout may be occurring, the shares have consolidated around the 50p mark for around a month in a ever increasing bullish sector & increasing gold price background.

It does look to me that someone or entity is building an under radar position in ORR, there have been a number of large stake sales over the last 3-4 months but these shares seem to have been transferred off market.

Add to the mix some largish late declared buys (circa 1m-2m) that have been appearing over recent weeks, there have also been a number of trade deletions for some reason. Strange goings on for certain.

My view is ORR is vulnerable to an approach from a more dynamic company, the asset value of ORR is simply not reflected in the valuation, for example Royalty sales and debt recovery by the company could exceed the market cap alone.

It will be interesting to see how this plays out, in my view the this is a great entry point.

Without the stupid warrants the share price would probably be 80p or 90p by now, we have the 40p ones to hit us next, conversions have started. The last warrant price was a scandal, 40p compared to the placing price of 36.5p, 9m warrants at 40p, what the heck !

It is no good Mark Child suggesting Condor is significantly undervalued to peers when he issues dilutive and share price rise quelling warrants at ludicrous strike prices. I have made this point before of course.

Maybe Jim Mellon can continue to mop up the loose stock that is continually hitting the bid, today you could sell at 50.7p but in came the selling warrant holders to take their 10p turn, you can just about get 50p right now for your shares, gold is surging ahead yet Condor sits motionless.

Everything else seem fine but Child needs to be questioned about this aspect, it's simply double speak and pointless trying to explain that the company is undervalued in presentations only to be a contributor to the same undervaluation by issuing warrant equity at farcical strike prices.

From a technical perspective this is oversold, the RSI hit 40 this morning, fallen nearly 1p from the 2.65p high reached on 27th July - this will bounce hard at some point.

Buyers returning

Twitter link to podcast

https://twitter.com/DDS_DocHoliday/status/1300449412146135046?s=20

Doc H still upbeat and suggests market over reaction to podcast.

https://soundcloud.com/doc-h-4/dlc-1-9-bull****-from-the

I have added today and yesterday, I sense a floor around current levels and suspect more upside, from a technical perspective the RSI is a neutral 55 (it was 84 when the shares hit 62p in May)

I also think Jim Mellon will continue to pick up loose stock and I believe gold could be about to go on another run up.

We had some optimism a week or so ago when 'they' wanted to know about the authenticity of the Action Group, the Nomad was fielded all the info, no news since.

Next week is a short week and the de-listing should occur on Tuesday 8th September unless there is some agreement in place on refinance and certain other matters.

Hope for the best but fearing the worst, ironically I sold down heavily on the last rise over worries about the funding situation. A deal was then done by the major shareholders acquiring the bank debt and CEO Bowden RNS'd in a positive fashion, I bought back the same tranche. I think a few would have done the same, soon after the shares were suspended.

It has been nigh impossible to buy anything meaningful below 1.3p today, if a few modest buys appear the offer goes to 1.5p and if that gets taken out who knows where the next offer price will head.

It does seem someone is in the know, news on multiple fronts is expected.

Whilst I accept the premise that Mark Child may not have much say in issuing warrants he does talk double speak, on the one hand he suggest the company is materially undervalued but on the other is happy to issue warrants at feeble strike prices which in turn halt the delivery of share price growth.

I think Jim Mellon is being used as a kind of mop, buying anything that comes onto the market either by profit taking of warrant holders forward selling for their 25%-50% profit.

I think, on balance, the shares can absorb a level of warrant selling and should move higher. It does seem the BOD want a higher share price ASAP for whatever reason.

They remove any threads where they suspect multi alias accounts are operating .

Bid price is slowly creeping up, would not be surprised if Jim Mellon is still a buyer of any loose stock.

Have to say this is being pumped across a number of platforms, Doc Holiday has just promoted it again, Sharetalk recently and Twitter - how much of the rise is a pump and how much is based on possible company changing news.

Doc has just 'promoted' ECR on Twitter

https://twitter.com/DDS_DocHoliday/status/1298566732613902341?s=20

6.5m traded by 10.30am, looks like volume is building after all.

Share-Talk are active on Twitter right now and have not responded to the earlier Tweet by Oilplayer2009 for a update - it does make you wonder what is going on.

Doc Holiday, who is well connected, implied news was imminent at ECR a day or so ago, adds more fuel to the fire, given the rumour mill I am surprised the shares are not attracting more volume and upside, if a JV with a major or mid cap is announced who knows where the price could go.

Yes I remain convinced things have moved on from the Sharetalk interview - my bet a JV deal is coming.