Member Info for JiffyBag

Another point, when you think about it, if the majority of shareholders are in private hands, that leaves less room for manipulation and organisations like JPM to short the share price as PI's would if finance was secured be unwilling to react?
Not 100% sure, but that maybe a consideration most particularly for this project with it's projected profitabilty etc.

Jazz,

Exactly, acid test...try it and see, only the BOD's do not obviously want to 'Try' , that is the issue here.

The issue also imo, is that they the company and financiers do not wish to have a large contingent of PI's, maybe JPM's viewpoint in reality?

FFC,

FFs man, wake up and smell the coffee, your's beginning to sound like JR!

KOH,

Freedom of information act?

Jack,

'Straight from sxx website. However I don’t believe they are taking into account the extra willingness of PIs to invest in a raise if it’s the last option for them.'

True, but my theory FWIW, is that $600m dollars could be raised by existing PI's and II's to complete the shafts then once that part of the project had been de-risked the balance of funds would become available. This is something that I am amazed at as to why the BOD's have not pushed this idea. Then again, given the recent press and Aussie connections, I am not surprised at all.

Tex,

Fair enough, see your point, but we really need to understand (as is our right I firmly believe) to know and understand the difference between your likely events and what may have actually taken place.

What I want to know and see evidence of is the seeking of finance to complete the shafts, and evidence as to why a Rights Issue has not been put forward to shareholders, before a 'Proposed Offer' is the most likely option to be reccomended /accepted!

Tex,

The way I see it is this:

So far to date, we have had zero news about raising new finance in order to complete the shafts, yes? ie, the company should have at the very least come out and stated what has been tried and why it failed that needs to be demonstrated not assumed.

We have now moved from a SR RNS, over a long period of silence to a sudden Proposed Takeover, with no information in between for shareholders.

Then we learn of a 9 month period discussions etc whilst shareholders are un aware of what strategy has been sought. Yes we were led to believe of strategic partner but not a strategic takeover.

What I want to know and see is evidence of seeking finance to complete the shafts, and evidence as to why a Rights has not been put forward to shareholders before a 'Proposed Offer' is most likely to be accepted!

Tex: 'Is this the same CF who is recommending selling the company for 5.5p? Clearly he doesn’t have any other offers on the table.'
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That may well be true re offers, but clearly we do not know that yet do we?

Further, we do not know what actions have been taken and reactions to such to secure financing for completion of the shafts, and we do not know why the company has not considered a rights issue or consulted shareholders to complete the most high risk element of the whole project.

Why throw the towel in now?

What we do know is, the company are more concerned about saving employee jobs over and above the interests of shareholders, IMHO.

Achille/Yash,

Paid my subs, site did not request further details etc, so far only received confirmation of payment, await further details etc.

Think this will mushroom hopefully once Panorama bite and the DT publish SH's concerns :O)

Absolutely Haggis,

Come back to HUR in 2 years and all will remember this as a pure abberation in the story of how Hurricane Energy proved the commercial viability of Fractured Basement plays on the UKCS.

What we might well be seeing now is an attack in order to bring the price down for a lowball takeover?

In my mind and IMHO those whom have a great interest in joining us next door as recently aired on EV?

It happens, does it not? again IMHO

'Another target- Buzz – neighbours BP’s Clair field, where a third phase is currently being considered after first oil at the Clair Ridge mega-project in November 2018. Mr Szwedzicki said Spark is testing the “tipping point” where investors will decide to partner-up.'

https://www.energyvoice.com/oilandgas/north-sea/217403/spark-exploration-targets-deal-on-billion-barrel-west-of-shetland-licences/

Look at what has happened with SXX, the Aussies are ruthless, we need to stand on the Ramparts and pour boiling pitch on them !

Time for the BOD's to wake up!

WW,

'I'm as frustrated as most here with the supposed well minded and undeniably knowledgable posters on various platforms (TLF, Twitter etc) pointing out (rightly or not) the 'risk' but I question their actual motives even if they are unwittingly so derived. '

Absolutely, when at the same time they claim to be still invested? does not add up does it?
Which begs the queston, why try and trash your own investment in such a public manner?

To me there is another dimension to all of this, namely in the paid service of a shorter perhaps?

'Most, if not all of them seem to me, intent on building, and/or attempting to cement their reputations as trusted experts by coming down on one side of the fence rather than the other but more often than not they do so in an oblique/vague fashion as to allow deniability in future should they be wrong. I don't think it's market manipulation or they are working to some sort of pay master instruction or strategy. '

Agree 100%.

"I could be wrong' is the forever caveat/get out of Jail clause, very cunning.

Bottom line is this, the company are legally bound to issue ANY price sensitive information, and yes I know this AIM, but the directors are putting their own knecks on the line if they are found to be deceiving/lying.

I do not think for one second that this is the case at all, despite others postings.

https://www.thisismoney.co.uk/money/diyinvesting/article-7583825/Keeping-track-director-dealing-pay-heres-whos-buying-shares.html

AK,

'I may be in a minority of one here, but I feel very happy that the CFO has not personally held any shares other than those the company has allocated to him. Keeps him 'impartial' to whatever the f***in 'market' is up to.'

Why should a director, even a CFO, be questionable of holding shares in the company that they work for?

Yes I understand your point, allocated and all that, but if I was CFO, and I knew I could make money if the company was sound and had good prospects, I would buy, surely you would too?

Interesting thought, but I would suggest that in the main, most Financial directors that have an interest and knowledge of their own companies will invest, maybe that in itself for HUR is a question for further thought?

FFS, Stobie, get your cheque book out!!! :O)

their modus of operandi is

Tex,

'How do you think it will play out?'

I think that J Curve and his band of Merry BOD's will captitulate, to our cost, there modus of operandi is survival, ours is also survival but from a totally different perspective.

I do think however that alternative viable solutions are available, but are not being sought not progressed as ought to be.

IMHO I think we should:

1. Freeze everything, just for now , shut down all operations until market conditions change/ joint partner/ whatever (Not takeover Aussie Buddy partner's etc) as and when finance can and would be obtained to complete shafts. We must have enough cash left to do that.
2. Secure sufficient finance to complete the Shafts and then that in itself will change the dynamics of risk for the whole project.
3. Completion of the shafts would attract further investment imo, as they are the main risk element. Having said that, does it not raise a question in your own mind that AA think this project as all fairly basic and less risky than many assume?
4. The bottom line is that we are being played by both AA and SM management IMO. and that is why ShareSoc are a valuable addition in defending SH's rights.

Tex,
'But aren’t you interested to know the details of all these conversations?'
Quite frankly no, simply because as I have said so many times, 'Time is of the Essence'.

Has it not occurred to you that, AA are rushing and pushing this deal through with the help of J Curve et al?

We have the final say after gathering all of the necessary information.

Tex,

FFS, Calm down, or are you a shorter, then that would explain your reaction to Yash.

The simple fact is that Sh's in SXX have a right to defend their investment and impending loss should the deal carry through. SH's also have the right to question and defend their position as 'OWNERS' of the mine, the BOD's are OUR Employees. We not they have the final say after gathering all of the necessary information.

Well done Yash, please keep us posted as you think fit.

Daltry,

'Nothing has changed. It(HUR), is as stated by Dr. T on 13th Dec RNS.
Nothing has changed. This share is clearly being manipulated. '

Will Dr T be doing an interview to state same? he wouldn't know anyway would he?

Best course of action to support confidence is for A.Stobie to buy some shares. :O)

Get your cheque book out Alastair, you know it makes sense. :O)