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I'm a lot more relaxed here now that i've reduced my position by 50% when at 9.3...and invested it in GGP which has now doubled within weeks...so will leave it now for at least 12 months maybe 18 but such a slow burner it tasks my patience a tad.....hopefully good update tomorrow...
Gets to 8.5 and I'm gone such a dreary long game.. . executive salaries and director board members receiving big remuneration...shareholders in the dark all the time...mugs are we., Bye soon.. keep your faith..good luck.you will need some...lol...
Savannah Energy PLC - Niger and Nigeria-focused energy company - For 2019, reported widened pretax loss of USD105.4 million from USD24.6 million the year before, on maiden revenue of USD17.8 million, which comprises USD16.9 million in gas sales and around USD900,000 of liquids sales. Total average production up 32% at 17,200 barrels of oil per day from 13,000 boepd.
Yeah I agree, Seplat SP didn't change much on far better results than SAVE so wasn't expecting much with all the debt we hold..Thinking I'll sell 50% of holding when it hits 8.5 then other 50% whenever it hits 9.5+ with small loss as really seems AK and cronies more interested in slow mover for shareholders and continued high salaries and bonuses for themselves...better short term opportunities elsewhere...
GT's own audits not so good...what chance for our company being accurate....
https://www.accountancydaily.co/aqi-2020-grant-thornton-branded-unacceptable-despite-increased-scrutiny
24 June....Despite the logistical challenges presented by Covid-19, the Company is pleased to confirm that the audit process is currently being finalised.
Why didn't they just say extension for posting results within next 3 months due to auditors COVID-19 restrictions...RNS will pre- empt results posting with confirmation of date....
But keeping investors on the hook then leaving it... if it happens to the last day of July is tantamount to physiological abuse of PI's... institutional investor's wouldn't stand for this treatment...worth just getting out of this investment just to relieve the stress on one's wellbeing....treating us with contempt methinks...
I too thinking of taking a 20% haircut here if nothing positive posted by tomorrow 3pm...as will only be a negative after that....Was in here for at least another 18 months but even with a 20% haircut there are other excellent companies at low SP's just now with huge cash reserves for future growth...Here's hoping for all our wealth...
1. Why state results delayed till July with no firm date?
2. How can niger based Seplat company get 2020 1/2 yearly results out but Save cant even get 2019 annual results out.
3. It suits AK to be in the closed period nominee to investors.
4. CEO's usually on rolling contracts of employment renewed on performance...how does AK keep being employed?
5. Is there some kind of skullduggery going on whereby company taken over at low market cap and asset stripped by AK and other covert persons...
Ah think ah can smell sh..e
AK posts results 4:29 pm on Friday...buggers off to Spain for karate weekend comp on cheap Ryanair flight..on return he self quarantines for 2 weeks on full salary..all the negative waves over results dies down...then sneaks back under the wire...to naturally underperform again....Aye....
Looks like a properly run company...who post their results on time for excellent investor relations...thiscisvtheir 2020 1/2 yearly results....SAVE haven't even got their 2019 annual results signed off...never mind 2020 1/2 yearly...ffs
June 24th...SAVE now expects to report its 2019 Annual Results in July 2020, rather than 24 June 2020 as previously notified. This is due to the impact of the Covid-19 lockdown in Savannah's countries of operation on the ability of the Company's auditors to access all required information on a timely basis. Despite the logistical challenges presented by Covid-19, the Company is pleased to confirm that the audit process is currently being finalised........
Aye..........a few days left in July 20.....Investors not too pleased that finalising the said audit has taken all of July...
35 days on from 24 June..AK & Board of directors certainly taking this to the wire of their scheduled postponement of posting results..5 weeks and they still haven't got it signed off...as the legend Marvin said, 'What's going on'...
Monday 5/1
Tuesday 2/1
Wednesday 11/10
Thursday 1/2
Friday 1/1000
Thats ma book based on covid-19 extension rules...and of course AK's & his covert associate's blogs...lol...here we go...