Member Info for icemax

It looks to be the tipping point for one or more of the institutional backers. I guess they must have risk-based models that tell them that's what's left in the exploratory bucket doesn't added up to good value on the basis of chance. And what we seem to banked are a number of small possible tie-ins, with no clear path to monetarisation.

On the plus side, most of us here are so much underwater that it can't get much worse. Have to say, my anger at being misled a strategy has up to now been quelled by hope. Pretty miffed off now!

Selling already in at 40p I'm afraid

To add, I had been struggling to square this circle myself, as MAAS lent Cloud Dubbo $24.5k earlier this year, yet that alone, I think wouldn't have covered the TR1 unless it was used for some kind of off-book transfer reconciliation.

Same. I'm guessing it's book transfers within linked entities and then, hey presto, you have 'new investors' (read, bucket shops).

Not sure what you are referring to, Bizzell and Carneige have lent / arranged finance to this company for years via Bizzell Capital, the Cloud Dubbo jobbie was simply a shuffling of money, from one connected company to another.

Ah, the days of watching icemax to see if it was leaving the port, and quickly turning another trade. What a wonderful share BPC was.

These small companies have very interesting backgrounds, don’t you think?

BPC/CEG have a very long association with Bizzell Capital Partners Pty Ltd., who act on behalf of entities associated with Mr. Stephen Bizzell and Mr. Mark Carnegie.

These guys are financers. Confuse them with being ‘investors’ at you peril.

Bizzell Capital had a major role in the last round of financing, in which a very large (indeed) amount of shares were issued the consolidation at a penny, underwritten by Bizzell Capital.

Doing the figures, the cost of the shares to Bizzell Capital was a touch over 0.8p.

As the share price has dipped over the last 6 months, we’ve had a flurry of ‘investments’.

These include MHCNZ Trustees Ltd, jointly owned by Carnegie. It was incorporated 6 months ago.

They also include Rookharp Capital PTY limited, investors in MASS Group Holdings.

The chairman of MAAS Group Holdings is… Stephen Bizzell.

MAAS Group Holdings is based in Dubbo, NSW. Coincidently, so are Choice Investments (Dubbo) PTY LTD.

In their latest accounts, MAAS Group Holding declared Choice Investments (Dubbo) Pty Ltd as an indebted company to MAAS Group Holdings.

I think the bottom line on the accounts is that liabilities are currently over twice the size of the cash remaining from the refinancing, and the company is still loss-making (burning around $2m opex per year after profits). This, with litigation waiting in the wings. They need to get the litigation sorted for good or bad and get on the next subscription/share consolidation. This is needed to set them themselves up for exploiting the Uruguay licence.

Hi Investor81, as you have directed a question for me, then as I bow out: I wasn't in fact pointing my finger at you, as it would be difficult to catch such posts in-between the automated posts from the Earl. Regards cash position, as the last set of accounts are 15 mths out of date, any working would have to be based on ignorance and assumption. Hopefully S/H will have somewhat more (but not fully) up-to-date financials this week.

in4cedros, thanks, I did actually reflect more fully on your post after my follow-up, and I hear you. I of course wish best for long suffering shareholders, and hope they have an opportunity to exit at a price that at least gives them some respite. And so, as much as I despise the sort of ramping we see here - and have seen in the past - I will indeed take a step back, and limit myself to hopefully constructive thoughts, beginning with whatever the financials may bring. atb.

Ah well, given that I walked away with 40k from bpc/ceg, that wouldn't be me :-).

2 days to go.

Ps those saying you are ramping - why are they constantly bashing if not Invested? What are their motives?

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To at least save you from yourselves. Good advice on cutting down the ramping though, as since EoA started the SP has just kept slowly dropping.

2 days to go.

So much effort for such little reward.

2 days to go.

Must have been an exhausting day for the new guys, with very little to show for it. Do they work through the evening, or just paid 8 to 4.30?

Really good question that - why are these companies without names from the same part of the world as Mr Bizzel, who got caught with the mother of all share overhangs? How much did Mr Bizzel pay for his diluted shares? 0.85p.

Makes yer think, doesn't it?

We do care! We are waiting on how much debt they have, what their liabilities are, their plans for the litigation, whether the currents assets are now in profit and whether there are any funds to take forward other assets. Pigs in poke, and all that.

And are you really not aware that with the exception of one fund, all of the fund shareholders are financing houses? Have you asked yourself why, despite all this propping up of the share it hasn't risen?

The whole history of oilers and miners on AIM is to have at least one 'pot of gold' resource at which to sell dreams.

Are you really not aware that the last reported financial status (including SP feed) was 15 months ago?

lol, what cash? Where?

It's already done a 10 bagger, it did a x10 dilution down to 3.5p, and then a 3 bagger down to where it is now. Another 10 bagger would take it down to 0.1p. This despite at least 3 attempts at pump and dump since it got to these levels.

Re-financing ahoy!

Just added another 5m shares.
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I see Mr Bizzel thanked you kindly by releasing 5.2m shares at 0.815.

All auzzie mates in the same pile.