The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
The single blurry US flag backdrop represents without doubt all the "changes" that (as per Amit and the CTAG website) "shareholders will be aware of".
As to what it means? Make of it what you will... but IMO it's very reminiscent of the infamous countdown clock that was the most insignificant damp squib of all time. Anyhow, ten more days until the next of an endless series of cankicking lines in the sand is reached and passed.
PS the "muppets" looking to dissuade others from legal action back in the day 7 years ago were in the majority not muppets at all. They just had a very different agenda (and still do) from that held by genuine PIs.
Brokerman/Gold Bullion, anyone?
IMO there was enough clear evidence (primarily completely untrue info issued via RNS) to mount a legal case, but as had been said, against the Nomad, rather than the company, solely because the former was UK-registered and therefore far easier to launch an action against). But that ship sailed going on 7 years ago.
The chances of ever finding Amit or a CTAG-related legal entity with any worthwhile assets in a jurisdiction that would make it feasible to take action against is minuscule.
...aaaaand it's a cankick. No surprise there then.
It's perhaps worth looking in detail at the latest short announcement, which as we all know reads thus:-
"The Company had received confirmation from the buyer that it’s DaaP sale announcement will take place by end of week 16th October.
Shareholders will be aware of changes made to the Company’s website ahead of the announcement."
Several things are odd in that first sentence.
Firstly, "The Company HAD received..." A typo for "has"? Or alternatively a correct use of "had", except that tense would presuppose that said confirmation no longer applies?
Secondly, a typical know-nothing 11 plus clanger with "it's" instead of "its".
Finally, it's not the buyer that is due to make any announcement of sale... the buyer would announce its purchase and the seller its sale.
Not that Amit's credibility could be any more shot full of holes than it already is, but yet again, a two line announcement that is full of very basic schoolboy errors has been released, making this seem (if possible) even more cack-handed.
Oh and of course there's that massively significant implementation of a new backdrop... as has been said, shades of countdown clock.
Don't waste your breath, pactrol. BV is incapable of explaining any real-world fact.
He lives in a self-created and utterly bizarre universe where the SP being at a 52 week low is wonderful news, where taking borrowing on at rates of 27%+ per annum is a stroke of genius, where agreeing to give a lender 8% of all gross field revenues in perpetuity is just fantastic and where ever-increasing accumulated losses are something to be pursued with maximum effort.
One wonders if he's related to Liz Truss?
I find the "accumulating losses are just wonderful" claim to be both increasingly bizarre and increasingly desperate.
"HITS, you should just say "Junior Loan" ...
Why should I just say that. BV? News flash... despite all your attempts to the contrary, you don't get to control the dialogue.
Here's a fact for you. As the Sep 28th RNS revealed, that first £3 million junior loan cost ANGS just short of £406,000 for the six months it was in place. That's equivalent to an annualised interest rate of 27.1%. Nobody in their right mind could pretend that was cheap borrowing.
As ever, the levels of intellect and maturity you display are quite staggering, BV...
It's not that complicated (and no, the shares due to be given to Kemexon are ordinary shares and therefore should be counted, even if separately agreed to be locked in for a period). For the answer, all you need to do is to look at what the RNS of Sep 28th stated:-
"Application will be made to the London Stock Exchange for admission of the New Shares following the holding of a General Meeting to increase the authorities of the Directors to issue and allot the New Shares, details of which will be circulated shortly. It is expected that admission will become effective and dealings in the New Shares will commence within seven days of the holding and passing of the resolutions necessary to obtain authorities to effect the Transaction."
ANGS has apparently run out of current authority to issue enough extra new shares to satisfy the 516 million owed to Kemexon in lieu of repaying the first £3m junior Wonga loan (inc fees and interest). It therefore needs to hold an EGM in order to obtain that authority by majority vote and it hasn't done that yet.
As and when it does, it'll be obliged to RNS any resolutions passed at said EGM.
Excellent news in the last few days? Hardly - it's actually and precisely no new news. As per the RNS:-
The alleged global refinancing is still not complete, but is still in progress (no change there then)
The connection of the permanent flowline is still not complete, but is still on revised (end Oct) schedule (no change there then either - and further bear in mind that the new flowline won't add anything to produceable volumes, but will reduce production costs to some extent).
Current average production levels of 2.6m therms a month are within the realms of previously advised estimates (ANGS had previously stated 90-95k therms a day, which equates to 2.7 to 2.85m therms a month, so current production is actually lower than this, but not significantly - so yet again no change there then either).
Things that already well-known and already announced don't change the price of cocoa. I remain of the opinion that the only thing liable to get the SP moving in an upwards direction is news that the very necessary global refinancing package has been agreed, providing that the terms of such aren't too onerous.
The Weald? Of zero significance.
Turkey? Of zero significance.
Sando desperately needs a new pompom to wave... and here it is.
Well, Malcy and Flagstaff have had an incredible effect, clearly.... as a new 52 week low is hit.
Agreed. I'm not sure what's more amusing though... the entirely fallacious claim that "the funding's been done" (errr no... as the RNS categorically and clearly states, it's still being worked on) or the equally bizarre claim that the SP is going to double in "the next few days".
I swear you used to get a more adept class of ramper back in the day. Mind you, I suppose that the existing crop has precious little to work with?
You have to admire Ocebot's persistence. Thanking "love for hire" Malcy for his positive comment (as everyone knows, he's a mere rent-a-mouth, who will gush whatever anyone pays him to gush). And then thanking ANGS's own PR company, Flagstaff, for posting this piece of utter irrelevance. .. priceless.
Mind you, two pieces of puff from Flagstaff in 24 hours... that's more than they've done in the last six months. Probably because there's been literally nothing that's been positively spinnable over that period - but as they've just re-realised, if there's no actual good news, one can always employ the likes of Malcy to make some up.
Given that the SP remains at a 52 week low (fact), one wonders what these points of delivery which will cause an upward movement will actually be?
The market already knows what SFBY is capable of outputting. That's 90-95k therms a day (okay so over the recent couple of weeks, daily production has been substantially below that, but hopefully the very recently fixed compressor will get things back to those levels).
The market already knows what the hedge commitments are. Those aren't going to change.
The price of gas maybe? Well, it's softening, with winter pricing hardly setting the world on fire.
Nope, it's got to be all about debt, liabilities, cashflow and replacement financing, That's the only thing left that could make a positive difference in the short- to mid-term. Everything else is - as Donald Rumsfeld might have put it - pretty much already a known known.
Well, at least we got an explanation (presumably true, but this is ANGS after all - and sadly, not everything it states in RNSes turns out to be true) for the recent falls in average daily production levels. It'll be interesting to see if production volumes now get back to the 90-95k therms per day.
More (though only very mildly) interesting is why anyone genuine is continuing to wave pompoms for this at least to date unrelenting fiasco.
For one, it can make no difference to any outcome and secondly, let's face it, those having shall we say a less than glowingly positive outlook on CTAG have (again to date, at least) got all the actual real-world facts on their side.
I'm personally predicting yet another cankick - and one not necessarily even announced this week. However, despite the literal mountains of hard historic evidence supporting that prediction, it is within the bounds of possibility (just) that it's wrong.
Four days to go till the next instalment in this apparently never-ending B grade soap opera...
BV as I have said many times, I (thankfully) own no ANGS shares at this time.
Re following advice, I hope for your sake that you've not been following your own, because you've been screaming "Amazing buy!" for too many months to remember... certainly that was your monotone cheerleaders' litany all the way from 2.7p downwards.
Although if your previous statements are to be believed (admittedly always a real reach with anything you post), you have been, hence you're underwater even if averaging down. Which probably explains your increasing and (as always) irrational feverishness trying to polish the unpolishable.
Spot on, OBZ. Like most AIM pipedream-spinning stocks, this share is blindingly obviously one to only consider short-term trading (as its entire history helpfully demonstrates - it's the poster child antithesis of a long-term value-generative hold).
However and as you well know, to do that and have the opportunity of making a worthwhile return, one does need three things:-
a) the proverbial balls of steel, to one extent or another
b) the capacity to literally constantly monitor to get one's timing exactly right
c) a completely dispassionate, objective and thus realistic outlook on the stock.
Why didn't they wait until they'd secured new global refinancing? You know the answers, OP.
The first "junior" short-term Wonga loan had already been extended to its allowable maximum timescale and thus £3.4 million needed repaying by today. ANGS obviously didn't have that amount of spare cash available, so as you say, instead effectively carried out yet another and very low cost private placing with those holding literally all the cards.
That new global refinancing does seem to be a whole lot trickier to secure than ANGS has implied...