Member Info for HawaiifiveO

Something has altered Bird'd mind about Moz Gold because at the AGM he made many 'excuses' for them and said he would not chase them over money owed.

Has something come into being that he now believes they do have assets that he can pursue, who knows, as pointed out XTR may be in for an unexpected cash deposit.

Also of note I have, over the weekend, seen firm letters to clients of Beaufort informing them their cash and existing portfolios will be available through Share Centre this week, meaning they can buy and sell stock for the 1st time since March.

I believe that may be relevant to XTR which was a popular Beaufort stock, worth remembering the last placing which their clients took part in was at 2.85p a share, I cannot see many selling out sub 1p therefore but I do expect to see some folk average down.

You say a few on here want to bring the BOD down, bloody right some of us do, complete failures the lot of them, Carver, a man with vested interests, Hutchinson, a man who has waffled on for years about permits, accepting the unacceptable, allowing the Slovenians to run rings around him for 5 years whilst drawing a fat salary, he should have pursued legal action years ago.

As for the other two, the non exec's, waxwork dummies comes to mind.

Shareholders have every right to be angry, why allow them a single penny more to waste on salaries, vote NO to the dilution.

It is dam clear who will get the shares if this wretched BOD manage to secure enough votes to dilute yet again, they have delivered nothing for an age.

The people who will get the shares will be 'market participants' that means the likes of Hendo's (or whatever they call themselves these days) Probably folk who are short and will use the placing stock to close, just about every City bod you can think of.

It matters not if they use Primary Bid or not, Hutchinson is deluded to think using that platform allows Joe Public in, most likely Carver has told him as such though.

Make no mistake as soon as they get authority they will place, that is a given, Hutchinso will probably go back to full time and full salary etc etc.

I sincerely hope folk realize that Hutchinson has no guts to take on anyone, he is too 'nice' The Minister will walk rings around him, Hutchinson HAS to give them an ultimatum and stand by it. Give us our permits within ONE MONTH or we go to the Euro Court and will discredit Slovenia via media as high risk foreign investment address.

Let us see how this plays out but I suspect by this time next week the scenario will be the same, wait, wait and wait!

The share price is now down over 50% since the start of the year, who would have thought that in January.

Broker targets 15p+

It all started to go wrong with delays and the inaction of the BOD to try to find a sticky hands buyer for Lombard O 9% stake.

Where is the bottom one wonders? £32m market cap.

I will be attending the meeting and will be voting NO to the resolutions.

The reason is I have no confidence in Colin Hutchinson to fight for the permits, basically he is too laid back and not hard nosed enough. I want to see an ultimatum given to the Slovenians, award us the permits we deserve within one month or face legal action, then proceed via every means possible to discredit Slovenia as a investment proposition.

I believe Ascent could sue to the tune in excess of £100m given the significant gas reserves in the field let alone taking account of the £40m already invested.

As the interviewer points out there are almost certainly outside influences (Russia, Croatia, Slovenia themselves - all mentioned in the podcast) that may be working the system for their own eventual gains.

Assuming there is no conclusion to the meetings that will should take place next week does anyone really expect the matter to change in 2-3-4 months following this supposed review by the Minister. In the meantime every city spiv will be shorting the shares knowing they will be able to cover via placings which shareholders have given the BOD permission to carry out.

The matter is woeful, Hutchinson & Co should have adopted a far more aggressive stance an age ago, but why should they worry, they have no skin in the game and have been taking handsome salaries, they cannot even conclude a trade sale of £40m for a project with a supposed NPV of circa £200m (Hutchinson's valuation)

I can see Carver licking his lips in anticipation of another heavily discounted funding via the wretched Primary Bid. Why cant Henderson (or whatever they call themselves) stump up £500k at 1p a share, after all they only made £10m profit out of their convertible loan to AST.

The matter is shambolic.

It is highly unprofessional and wreckless of the Minister to issue his 'statement' - knowingly causing havoc to the permit process, let alone the damage caused to Ascent, and the proceed to go on holiday for 2 weeks.

This is more ammunition for the BOD of AST to use in any court action.

I agree

There is considerable speculation from certain commentators that this type of operation is used by entities to close underlying shorts in the stock, no different to what they do in a placing.

It is not true that ALL shareholders get the opportunity to buy in such raising's because it is suggested the big boys bombard and front run the raise, officially any investment over £50k has to be company approved but do you really think the BOD will worry over who gets the shares.

I make the point that Hutchinson talks rubbish (I could put in a stronger format) to suggest that PB is for the benefit of shareholders, he is totally deluded of course.

I will be voting against the proposals (attending in person) unless there is clear definition of how much money will be raised and precisely what it will be used for, I would also want to restrict the BOD from raising more cash without shareholder approval.

I have no confidence in Hutchinson to get the Slovenians to award the permits, I have no confidence in Carver and the other Non Execs are no more that waxworks.

I want to see an ultimatum given by AST to the authorities, award the permits within X month(s) or we will be seeking significant damages through then courts. As per my post this morning I would suggest AST have fair grounds for damages in excess of Euros 100m

Last week this hit .61p can now be bought for .44

Very possible they will sell the Dalafin project to Iamgold who have said in as many words their Boto gold mine (next door) will be built. They also said they feel confident they can increase the resource by 2m ounces, that can only be done by acquiring ORR's Dalafin.

In my view there is no way the Slovenians are going to issue permits.

My view is AST should give them a ultimatum, namely award us the permits within 1 month of the ultimatum or we will take you to the European Court.

In my view the days of being 'nice' are long gone, I would suggest AST cold easily pursue damages IRO 100m Euros due to the excessively long delays and broken promises, let alone the already spent 50m Euros.

Frankly the losses here are now so severe what have we all got to lose, Carver will be licking his lips now with his 'ability' to raise even more cash allowing his chums in at rock bottom levels.

I will be attending the meeting and will not hold back my thoughts.

It is very clear from that podcast there should have been a lot more going on so one does wonder what changed the processes, he talked about 2 or 3 new contractors for the alluvial's, it suggests there was demand and local interest in picking up a contract to work the ground.

I have no idea why none of this has come to fruition but it does make you wonder if the new appointments were not put in place until XTR can extract better terms for the alluvial's, note the recent improved terms RNS.

It seems clear he favours Omnia to deliver the hard rock, I wonder if a deal has been thrashed out by now and news is imminent.

In general I feel now is as good as anytime to add here or buy back in, the summer slumber has depressed the SP but with news due and the Beaufort cash hitting the market this month it looks a fair investment propositionfrom these low levels.

DYOR

Worth a listen again (starts from 15 mins in)

https://audioboom.com/posts/6909008-versarien-vrs-xtract-resources-xtr-and-malcy-on-echo-rose-trin-eco-eme

jessell

With the greatest respect you strike me as a rather silly fellow, did you not know that most of the junior mining sector has been marked down between 40%-75% this year.

That my dear chap is a FACT, Xtract is no different, the question is, if you wish to make money is buying back (or adding) at the right time.

Many folks believe that time is rapidly approaching, more-so that the much delayed Beaufort return monies will finally be whisking their way back to investors on or around the 12th November.

Edit

Should read Slovenia of course.

So according to local media Slovakia uses 1 billion cubic feet of gas per year and AST has 12bcf

Obviously on that basis AST has 12 years supply of gas for Slovakia but it seems they do not want it due to environmental issues, of course this is a nonsense.

This really has turned into a complete mess, it is a bit like these African countries starved of electricity but they stop every effort by outside parties to build power plants.

It is clear there are huge levels of corruption, in respect of AST I strongly suspect Russian involvement, I think Colin has done the right thing re the Euro Court threat.

Another thing, does anyone find it strange that all this is happening right on top of Slovakian Bank Holidays with both the Environmental Minister and Sophie Honey from the British Chamber of Commerce both taking extended holidays. It stinks.

There are few shares to be had at these levels, it is 'at best' currently for only £1k of stock, when the Beaufort money returns just watch this move.

Looks like the market makers are already on the defensive.

My understanding is that all clients of Beaufort will have their cash back next month, I believe from around 10th November.

There are a number of private XTR groups operating on Twitter, quite a few people are saying they intend to average down in a sector that has been trashed since they were locked in in March.

XTR was well followed by Beaufort clients, it is also worth noting that the yesterday's RNS was the most heavily followed on V.. Markets. This indicates that XTR is very much on investors radars.

The shares have fallen 76% since January, well overdone, I expect to see a recovery, the fall has been on low volume so it is obvious that any volume kick will push this up dis-proportionally.

Now is the time to buy/add in my view more-so as there seems to be RNS activity with suggestions of more to come.

A great opportunity to buy at wholesale prices IMO.

There is a clear will among certain 'commentators' in the junior resource space Twitter world to see Ascent to fail.

Certain individuals find it strange that these commentators who are supposed to be champions of the private investor wish ill on a company whose stock is majorly held by the same private investors.

In the murky world of AIM it is well know that syndicates operate in both bull and bear form, the problem is it seems the bear format seem to be exceptionally more well organised and aggressive than the bull side.

The question remains why are these supposed PI champions so determined to trash AST ??

JDAU

Colin clearly said he expected the new alluvial contractors would be in place by August on the last Vox podcast.

At the AGM he muttered something about improving the terms of the contracts, perhaps the delay in appointing these contractors by August was due to him seeking improved terms in general.

Regarding the share price I noticed on Twitter a chart of 45 junior mining stocks, only 5 were up and the average fall from 1st Jan was IRO 45%-55%, some stocks were down 70%, ironically some of the heaviest falls were former Beaufort associated companies. Beaufort money is expected to be returned next month.

I have taken some off the table today selling out at significant loss, the markets are unsettled and cash preservation is key, who knows where this could go given the lousy sentiment not withstanding the circa 70m shares Lombard may dump.

I am hugely disappointed, the inability and willingness of the BOD to identify the 9% seller and deal with it by finding a sticky home for the stock has cost shareholders dear.

I will continue to hold a position (in hope there is an an approach) but want to see a turn in the markets before committing valuable cash, no doubt it may bounce but the clear trend is down IMO.