Member Info for HeadInTheSand

BV I expected better of you. You should know it's not a matter of the simple yet fallacious A/B choice you present.

EchDelta, please stop repeating the same bare-faced lie.

In this thread you have so far stated:-

"GDR bagged from its placement level" (10:38)

and

"GDR - big placing now double placing price" (11:40)

This is a plainly obvious big fat lie., GDR raised £6m via a placing in early Sept this year. Its SP was 49p just prior to placing - and to date it hasn't got back to that level yet. So it categorically HAS NOT BAGGED.

Yanis, we know how much cash ANGS had on hand as of Mar 31st.

We also know about the extra £150k that came in after that point.

We have a good idea as to ANGS's standard G&A monthly cashburn rate (of course, leaving aside anything Saltfleetby related).

They really must have been down to fumes and weren't going to make it to possible first gas revenues, even if those started to come in from say end Mar 2022 (VERY optimistic).

Given that ANGS hasn't yet (as far as we know) drawn down anywhere near the entirety of the £12m debt facility, for George to claim that the first three reasons for this placing were Saltfleetby-related strikes me as a huge stretching of the actual truth.

"Someone wanted in huge"... ?

Hard to square that comment with the fact that ANGS failed to place c. 10% of the 130 million shares, even at heavily discounted mates rates...

It will have taken WH Ireland considerably longer than that. IMO it's pretty obvious that this latest sorry placing was worked on for some considerable time before the first of Friday's RNSes - you only need to look at activity such as:-

ANGS-issued Twitter pix on Nov right at the back end of Nov.
An "all of a sudden" warm mention from "love for hire" Malcy
Significantly increased BB activity across all boards from the primary cheerleaders over the last month
The "all of a sudden" appearance and heavy promotion of an utterly fabricated Twitter rumour.
The SP movements in the week leading up to the eventual announcement.

ANGS will have been well aware that it had pretty much run out of money to pay its G&A expenses (item 4 in what George claims the placing was for), so this placing will have been teed up for some time prior to announcement.

The surprise remains that ANGS failed to place c. 10% of the new confetti, even with a big fat discount.

Speaking of additional shares & dilution, is it it now possible for Knowe to convert £1.4 million quid of CLN into shares at 0.65p as from 17th July? That is, unless it gave its written agreement to this latest placing (we've not been told either way) or unless ANGS has paid off part or all of the CLN prior to that point.

Here are the relevant phrases from ANGS's RNSes on this subject:-

20/04/20 ANGS RNS:

"The New Loan Note is unsecured and is convertible at maturity after two years at the lower of (a) £0.01; or (b) if there is an issue of Shares or options in respect of Shares (excluding options granted to directors, managers or employees) by way of a single or directly related offer to the public with an aggregate subscription amount of £250,000 or more made without the prior written approval of the Noteholder then the price attaching to the lowest of those issues (the "Conversion Price"). "

20/10/21 ANGS RNS:

"The Note, which was otherwise convertible at 1p per ordinary share from 17 February 2022, will now only be convertible at the earliest of 17 July 2022 representing a six month extension."

It's not clear - but it could certainly do with being made so for the benefit of genuine PIs.

...and of course, when confronted with his blatant lie, multi-ID ramper EchDe.ta has nothing to say.

That's the thing with those who look to mislead deliberately... they a.aays get tripped up by reality.

Topic: GDR Good Example
Started: EchDelta, 05 Dec 2021 09:39

EchDelta

Today 09:39

GDR Good Example

Big placing in Sep 21
Share price doubled

***************************

...except that's a plain and straight-out lie.

GDR's share price before 10th Sept 21 placing? 49p. GDR's highest share price since that point? 41p.

Not really a doubling then, eh ED? And you have the front to call others' honesty into question?

Laughable.

I see multi-ID ramptastic spammer ED (aka UltimateJustice0, 3Put, Solo4Yous, Cuddothisnow, Cantrememberthis2, HelloAmora and DaveMarn, to name just a few of the IDs he posts under) is throwing accusations out in an effort to discredit those who have expressed more realistic opinions on ANGS...

Unfortunately for EchDelta, those of a less than positive opinion have been proven right time and again to be deeply wary of ANGS and its ever-broken promises..

That's a little rich from an ID who was doing his level best to help get the recent laughable placing away.

Can anyone say "colluding paid shill"?

No. It's confirmation that they couldn't even flog all the 130 million confetti shares they desperately tried to.

Yes, please do visit ADVFN and just check out the endless spamming from ED under his IDs of DaveMarn, Solo4Yous, 3Put and UltimateJustice9. Not just on the ANGS bulletin board either, but any board he could find.

Collusion much? Can anyone say "paid shill"?

Nom, either that or perhaps... just perhaps... the very recent and extremely vociferous poster isn't a genuine PI at all and has merely been here in an attempt to help get the placing away?

If so, not that he and his boiler room cronies did that well... ANGS failed to place 10% of the new confetti, even at a big fat discount. Even the equally appalling UKOG did better than this, back at end June, when the shills for hire and spamtastic rampers were in full flow over there.

The placing is without a doubt to pay for G&A expenses (primarily salaries). As can be very simply worked out from known cash as of Mar 31st, plus monies raised since vs monthly cash urn (excluding Saltfleetby), ANGS was running on fumes.

Well, unless Knowe agreed to this placing at 0.65p in writing, it now has the contractual right to convert £1.4 million quid into shares at 0.65p, come July 17th, under the latest terms of the CLN unless ANGS takes prior action.

Not that genuine PIS need any more items of bad news looming, but still, worth not forgetting.

What this placing will be used for (of course) is item 4, the last in George's list, namely:

"· Working capital and general costs."

No kidding. ANGS was down to its last knocking of cash for all non-Saltfleetby related expenses. And it couldn't even raise the £800k it wanted because even at guaranteed margin rates, the City boys wouldn't take up all 130 million shares on offer.

Or are the cheerleaders stating that George and the bord are so incompetent that, having got the costing for Saltfleetby so incredibly wrong first time around (£2.75m rising to an eye-popping £14.75m), they've got it wrong yet again, even at this allegedly very late stage to the tune of a further £750k?

GL's job seems to be the exact same as Steve S's at UKOG. Deliver nothing, but keep filling his swill trough with PI-supplied hard-earned as long as he can.

And as for ED's sneers, that's rich coming from someone who with his cronies and multiple IDs strangely seemed to be doing all he could to assist the placing.

On a completely separate subject entirely, can anyone remind me what the word "collusion" means?

"If we just look at the placings, one can see how ANGS has been constrained by its lowly share price:
prior to the Brockham RNS of 28/06/19, it raised £5.2m in 2 placings;
since that RNS, it has raised £3.65m in 5 placings (counting the additional placing with GP (Jersey) Limited as a separate placing)."

Are you for real, Ocelot??? "...ANGS has been constrained by its lowly share price"??? Words almost fail me.

Fercrissakes, ANGS IS RESPONSIBLE FOR its lowly share price! What the Hell share price would you expect for a company that:

a) has been literally zero revenue for 19+ months and counting
b) has literally never delivered on one single project, despite countless assurances it would
c) got its last "stellar asset" project so wrong that it is (so far) £12 million and 18 months over budget - and PIs are still waiting?

The ANGS lowly share price isn't some unfortunate random accident. It's a clear reflection of the levels of competence and credibility of the ANGS executive "dream team", as categorically evidenced by their achievements against assurances (or entire lack of them).

THEY are the cause. Period.

HeadInTheSand

Wed 16:56 01-12-21
So, someone has paid "loving words for hire" Malcy to mention ANGS... and an utterly unsubstantiated Twitter rumour is being trumpeted around...

A cynic might suspect that ANGS is running out of money to pay the salary bills and other non Saltfleetby-related costs. They can't use what's left of the £12m for that, remember.

I'll be watching what takes place over the next week or two with interest...

nomlungu

Wed 17:05 01-12-21
Are you suggesting that it seems as though someone might be trying to create interest for a potential placing? Surely that never happens on the well regulated, managed and policed London Stock Exchange? What would the Merlot Man say?

****************

No more needs to be said. What's gone on here is just so blatantly obvious. And as cperkin said earlier this evening:-

"Remember the names that were pumping a "buy out" whilst probably selling before the placing."

This is clear and obvious collusion - and the entire bulletin board knows exactly who has been involved.

AIM is often a cesspit, but the stench of this telegraphed and quite deliberately orchestrated fiasco reeks even more than usual.

Were ANGS involved? Make your own minds up... but I'll point out one last post from just two days ago... made by Flagstaff, ANGS's own PR agency:-

FlagStaffIR

Wed 16:45 01-12-21
https://www.malcysblog.com/2021/12/oil-price-sound-chariot-san-leon-angus-orcadian-prospex-and-finally/

Now "love for hire" Malcy doesn't do or say anything until his palm has been crossed with silver. As I said, make your own minds up.

As for the company's credibility and trustworthiness? It's through the floor.

Oktane...

"Actually HIS, he sort of does say they got it another £800k wrong:" Yes, that's what he says... but given ANGS's cash position (less than £600k as of end March this year, plus an extra £150k), that sub £750k was never going to cover them up until earliest possible first gas revenues. This is for G&A (i.e. salaries), but it would hardly have gone down well if George had come clean on that.

And Ocelot then has the gall to state:-

"I think GL has done all he can to limit the size of the raise."

Seriously??? As we've just been told, George couldn't even raise the full £800k via his bookbuild. fercrissakes. This placing was limited soley by the appetite of the city boys to take any more, even at mates' rates.

Okay, in one way, George has done all he can to limit the size of this placing... the utterly incompetent management of the company under his stewardship prevented even the placing quantity getting fully placed. Hardly concern for PIs on ANGS's part...

Utter rubbish. This is clearly for G&A (aka the dream team's fat salaries). Having already got Saltfleetby wrong by £12 million (and 18 months and counting), George can't possibly have got it wrong by a further 3/4s of a £million at this massively late stage.

Utter contempt by ANGS for the PIs who've kept them in vintage claret for all this time. What a sewer.