Member Info for JimiHendrix

I think another, detailed and positive rns about Brockham must be on its way or in the process of being written. He wouldn’t have said the bit about believing that this opportunity will bring considerable value to shareholders if there was bad news coming.

The mms can short sell shares they don’t yet have, prob at 5-6p and then they receive them at the placing price. Might be called naked short selling... I think it happens a lot.

JT said a few months ago that they should have done it in small sections rather than the whole thing, so I take it that’s the reason. With the placing shares, I expect they have been forward sold.

*did it not didn’t it

I think in many ways they’ve made a good decision with when they’ve chosen to do this fundraise. Imagine the pain and frustration if they didn’t it days after the share price rockets on positive Brockham news. Far more people would be buying in then rather than recently, so a discounted placing at that point would cause far more pain. Also they talked about this acquisition months ago so it’s no surprise they’ve now done the fundraising for it.

This sounds like absolute rubbish, an attempt to manipulate the market downwards in my opinion. A pain for the company as they will be pressured to release yet another RNS to confirm.

I did the buy price was over 21, 21 was the sell price at that time

It’s a sell unfortunately

It’s normal for companies to need to fundraise via placings yes but Prospex need to raise more than the current mcap through a placing. I’d be concerned if they sold Italy to help fund Spain as Spain is much higher risk.

Great news but there is still huge dilution to come before Italian production to fund Spain.

Hopefully most people realise that changing the order of events is actually a good thing and not a reason to sell up! ...imagine if they were so inflexible that they always stuck to their first plan despite discovering a better method. Traders have simply spun it as a negative so they can sell and buy back 5-10% cheaper... most of them will be back in now I’m sure.

The share price didn’t respond very well to the existing Romanian successful drill.

This likely placing (for Spain) is the reason I reduced quite a considerable size holding, surely there’s going to be massive dilution and we can’t rule out some kind of shares restructure before the drill if the price is still down here or lower. Once the funding is done I will buy more again providing all other areas are going to plan.

It sounds like they’re having difficulty accessing the land in Romania for this second drill plan due to the owner wanting a ridiculous amount of money. Anybody know how much?

That’s very disappointing as I thought they had much better options for raising funds now being a producer... loans etc. This is large dilution. Now I’m concerned how they are going to raise the millions needed for Spain.

And 800k GBP placing at 0.2

Does anyone know if the long lead equipment is likely to be shipped by cargo ship or plane? Shipped could mean either but I'm thinking it's too big to fly. So I'm assuming once they have the approvals they'll go ahead and order it and have it sent by sea freight which will probably take about 4-6 weeks to arrive. So potentially 2 months until they start?

Doriemus have received the payment in shares. My expectation is they’ll be worth a lot more than 5p in a few weeks/months time.

These derampers are the ones who have been selling. Now they want to hold it back so they can get back in.

What concerns me is even after they unexpectedly found a lot of water at Balcombe they then decided to perforate such a large depth at Brockham all in one go. Surely it was highly likely they would encounter a lot of water, I think PV was living in fairyland or simply taking a gamble with it, going for big headlines rather than doing it sensibly.