Member Info for itsawrap

"they don't care if they convert at 0.3 or 1p if they spin them " I disagree, if they convert the remaining £7m at say a 30p average, percentage wise there's a lot more upside for them as they know how retail investors behave. they know that once all the CLNs have been converted investors will breathe a big sigh of relief and pile in spiking the sp. They also know that some good news from Colorado or TZ will strengthen the sp making their conversion less profitable so they'll be watching the market very carefully - my guess is a conversion next week

The claims of a 10 bagger are fantasy imo. the CLN conversions will result in 9bn to 10bn shares which means the investors will be holding up to 4bn shares and looking for a circa 20% profit so every time the sp perks up, shares will be sold holding it back for months.

The placing stands, the Resolution to issue warrants was withdrawn - no reason given.

The $500k RSA has paid out about $100k May-Aug, obviously it wont continue at that rate (unless poo rises) but it does seem like a very good investment for the counterparty. If Europa considers another RSA, I hope it is offered to shareholders.

It wont be pretty - Wressle dropped to 266 bpd in June (May 313 bpd) RSA payment about $24'800

It looks as though the market isnt allowing the bid to drop below 5p which is the par value of the shares

10p? I hope so but what do you see as the catalyst for the sp doubling?

Https://va.mite.gov.it/it-IT/Oggetti/Documentazione/10561/15652#collapse

Procedure status: CTVIA opinion issued, MiC opinion pending

Imo the only hope for shareholders is a takeover bid. Cash currently worth about 30p per share reducing by 1p - 1.5p per month. What's a loss making business worth over and above cash when they struggle to win contracts and build revenue?

The Interims will be published in a couple of weeks - I suspect we will be close to an H1 loss due to revenue of about £1.2m

Unfortunately Bramhill's reckless investments in Oklahoma - and the recent placing - have killed any chance of UJO raising sufficient capex for WN. A company cannot issue new shares below par value which in the case of UJO is 5p - well done Brammers, a masterclass is how to squander $24m revenue from a flagship project (Wressle).

Advn says 1 week vwap is 0.4668 and will fall again today, next conversion could be circa 0.35, or less if the sp keep falling this week, hold on to your hats

Do you ever read the crap you write before you post it?

Kedd - 33 bpd which matches the Kedd RNS (May 15 bpd)

Wressle - 266 bpd down from 313 bpd in May

My guess is that by the time the conversions are done, there will be 9bn-10bn shares in issue with an sp of circa 0.25p, mcap circa £25m, for me that's the time to pile in

Geseppe, Heid has a point, if Colle Santo goes ahead it should be very good for RBD's (and therefore Rathlin's) financials, in which case West Newton has a much better chance of proceeding this century

Imo the investment case is looking iffy. The placing raised £2m gross but that's all earmarked for OK so where does that leave cash after we have paid Reach, maybe £1m-£1.5m? Moccasin performing well compared to the other OK dribblers, Kedd back on-line and Wressle holding up well, poo steady as is gbp/usd, best guess revenue of $250k-$300k per month. Revenue less G&A will not be enough to fund further capex in OK or Kedd or WN or Penystone or Bisc so it's hard to see where growth will come from unless one of the H2 wells in OK is a corker

What I find odd is that all the documents I read were concerned about gas extraction destabilising the dam and/or causing landslides - yet they dont seem to be concerned that a dam that was built in the 1960s, was built in an area at high risk of moderate earthquakes, that fact is quietly ignored

Https://www.abruzzolive.tv/emergenzambiente/trivelle-sul-lago-di-bomba-per-il-ministero-si-pu-procedere-con-l-estrazione-del-gas-it37864.html

a legal challenge could be on the horizon

What I find odd about all the anti Colle Santo rhetoric is that the Bomba dam was built in the 1960s in an area that is at high risk of medium size earthquakes. I would be more worried about that than gas extraction.