Member Info for HungryHippo

Dino did it take you all weekend to work that out? (no wonder the dinosaurs became extinct) I'd imagine the majority of shares have already been forward sold last week on the spike so in theory shouldnt have much impact. (But this is AIM) Flyinghorse you've been here a while now so surely you know that PFP have literally no cash reseves so every few months they need to fundraiser to pay the bills and keep the lights on. I'd assume that's what this money is for too.

Is it me you're looking for ;)

Maybe the General never learnt to read or write? I could post him a pen if he cant find one.

Are you lot simple or just new to stocks? I've seen dozens of AGM RNS''s and they all just say the resolutions have passed (most don't even bother giving details of what the resolutions where) If you were expecting it to have an actual update on negotiations that was never going to happen....

Flyinghorse read previous RNS's. If he sorts out a deal he gets 25% of the company it's no secret it's in black and white and has been known for months. Obviously getting it back through the courts would have been better but since all the Moz rulings have gone against PFP I imagine they'd be happy to get the asset back any way they can.....

Bugzy you are correct. PFP could double the number of shares to give the local negotiator and the General their slice of the pie and all the Mcap would need to do is go from £2 million to £4 million on the fact we had the licence back for the sp to hold steady (and considering the asset they'd get back I think most would be looking for a mcap well above £4 million) but all speculation until an agreement is officially signed and things might fall through.

Hmmm not sure you're right. You might want to read the RNS 8th April 2016 since that's the last Moz court ruling I'm aware of? and it's not in PFP's favour.... But I believe an appeal was lodged the outcome of which is still pending.

*Conines = continues

Flyinghorse technically the Moz courts did work out who owns the mining rights.... but Pathfinder disagrees with their judgement hence the currently lodged appeal lol (although I accept your point that it's been a long time since we've even had an update on the legal front) For what it's worth my personal view is that the asset was illegally transferred and should be returned to Pathfinder but it all comes down to the courts which in Moz move glacially (unless an agreement with the General can be agreed) In the mean time cash burn conines and I've the feeling were overdue another fundraising?

4unme ,I think on a share like this where day to day volume is nearly non-existant the suggestion that people could forward sell any large quantity of share is pretty unlikely. Longandwrong, in theory HMS sands going up makes the asset more valuable but surely permits and the rights to mine have end dates that are being run down over time (they can probably be extenfed but it's still extra work) I'm not surprised the government hasn't done more, they have no backbone and always kowtow to these backwards countries and ignore any flouting of international law.

What makes you think the £200k was all one person and not a pool of smaller investors? In which case the individual holdings could easily be below reportable levels.

566822tn. The answer to your question is as well as increasing at any time the share price could fall 100% at any time if the appeal is rejected and PFP is forced to throw in the towel/runs out of money.

How longs a piece of string? Theres plenty of companies on AIM with an asset they value at £100's of millions but have market caps of £0-£50 million. Why? because it doesn't matter what your asset is potentially worth if you don't have the right permits or enough money to develop it. Back in 2011 when the market cap was £85 million the future looked bright and the company had about £11 million in cash ready to start constructing a HMS mine which has now all been spent on the litigation. Even if we were handed back the asset tomorrow we have no money to do anything with it (and new permits may be needed? although I'm unsure of that). Don't get me wrong the asset in itself has value and if we got it back the MCap would be more than the £1-2 million its been in recent times. But other than selling it, to fund any development they would need to do a big placing or get some form of loan......

We don't have a firm date for the courts ruling so if the company needs the money they can't just wait hoping news will come.

I think based on previous years accounts the cash burn was about £100k a month but that was including lawyer costs of the litigation. Since we're waiting for the courts decision that may have been reduced but based on the regularity of recent placings I'd say current cash burn is about £50-80k a month. Can it be reduced? dunno, ask the CEO. On the bright side whoever provided the £200 doesn't think it's a lost cause yet (unless they're looking for a tax write off lol)

Almost mentioned earlier I wouldn't be surprised if we were due another placing. The company has literally no money and this is the only way they can keep the lights on. That's why the court taking so long to reach a decision is so frustrating since cash burn just means more dilution over time.

Just remember even if a ruling is released soon it may not be the result that those here hope for (after all the reason we're having to appeal is because we lost the original ruling...) Atb DYOR and don't invest more than you can afford to lose since this may as well be a coin flip (but who knows the actual odds lol)

Pretty conclusive. Might I humbly suggest the 1 person out of 42 who doesnt think the BOD is to blame might have the initials GB? lol. 100% record of failure with years of time and millions of pounds wasted for duster after duster. The share price has been decimated to the point most cant even be bothered to sell up as they'll get next to nothing for their holding. Must be a nice life gambling with other peoples money and paying yourself either way.

Part 2... The man's like a reverse midas, everything he touches turns to .... ;) Although luckily I've thought of a way to tap his incredible talents by offering the big oil companies a chance to run their proposed developments past him and then if he shows interest they know not to bother as it's granted to be a duster. (The past 2 posts are meant to be tongue in cheek and abit of comedy for long suffering holders but sadly they aren't far from the truth. I've held shares since the Punt land double duster days so in the end want the company to do well but blimey there's only so much frustration a bloke can take lol)

I often wonder why RMP even still classes itself as being in the oil sector they might as well be florists. What's that I hear you say? We don't have any flowers? Sadly we don't have any oil either!! (After year and £millions spent) Actually if you look at it Bandys 100% failure rate is almost impressive. Is it natural skill or a voodoo curse that makes him have a less successful strategy for picking assets than putting a list of oil plays on a dartboard and throwing darts with your eyes closed?