Member Info for jk400

...and only about 6-8 weeks away from H1 results - the first time we'll see what the full effect of the "transformative" 100% (vs 51%/85%) ownership has made to the bottom line. DYOR!

Firstly a thank you in advance to FK1 and the 3 wise men for this service for those of us not able to get to the AGM. Re the second boiler, that has already been commissioned. Would this have alleviated the problem in May/June? From the Justin Waite puff piece the other day, it sounds like there is always some downtime built in to the schedule in high season for routine maintanance. Does the secondary boiler, and associated gubbins, allow the mill to then run continuously? In other words, just switch to the secondary production line. Secondly, in the notice of the AGM (27 June), resolution 8 "authorises the board to make market purchases of up to...approximately 5% of the Company’s issued ordinary shares...so that they can more readily take advantage of possible opportunities." Hopefully, there will be more clarity on this point as the document seems a bit vague as to how/when/if this authority will be used. Thirdly, any news re special dividends? This has been mentioned previously, although Norpalm may have affected this. Fourthly, the leaking of news the day before RNS's. Finally, newsflow and lack of RNS's for significant periods allowing the SP to wander downwards. Hopefully more regular updates though with Guitry and Norpalm moving forward. Thanks again.

This confused me last time, but for anybody interested - look on the Dekeloil website, click on Investors and then Circulars and Notices. There were 3 x PDF's posted on the 5th July relating to this.

Available on audioboom.

Thanks cjgoldsmith. So from that, it's either a hangover from last weeks news because Justin Waite has been on holiday, or further news planned for this week?

We seem to have some nice buying this morning at these prices, which is good to see.

Tricky, the devil is often in the detail re DKL and it's always worth waiting for the accompanying puff piece(s) with any RNS. Plus, allowing the market to settle. That applies equally for both positive as well as less positive news, e.g. anyone who bought at 15p+ on the morning of the Q1 results. I think FK1 was also caught out on a spike last year from memory, circa 17p. I think we may see more selling in the short term. Not necessarily for any fundamental reason, other than they are sitting on large percentage losses. Our 'real' floor has always been around 10p, i.e. square one. Things could have been even worse had it not been for gatherer guy topping up. (I think this may be the opposite of a blessing in disguise though - it may be the original dumper stocking up again). The value will out here eventually, as it has done briefly on spikes several times. Remember, although the mill had a problem in peak season for a month, as mentioned earlier our net profit for H1 should still be more-or-less 100% up on last year based on today's figures, now that we own the whole lot. I'd say thing's could have been a hell of a lot worse. The board have already commissioned a second boiler and associated gubbins as redundancy. It will be interesting to find out whether (had this already been operational) whether this would have prevented/alleviated any downtime? We do desperately need news on expansion though, and more importantly how it's going to be paid for.

A mixed bag which needs to be digested, but mildly positive all things considered. I would have liked to see more made of the fact that you can pretty much halve the 2016 figures for comparison as we now own 100% versus 51% this time last year.

Some very nice gathering again this afternoon ahead of tomorrow.

Cheers both. I haven't received anything in the post either Phil (!) lol

On the plus side we're in a position, with the SP being where it is, whereby long term holders - who have been patient and followed the story of DKL - are being rewarded with a divi. We don't have a large percentage of short term profit takers who've just come in off the back of positive news, instantly being rewarded at the expense of those who have been here for a while, investing at similar SP levels, despite much higher risk. It actually couldn't have worked out much better from this point of view. There might be a odd shareholder who hasn't been around long, of course - but they will be breaking even at best in terms of the current SP. My general point is looking on the bright side of this ridiculously low SP, we have one positive. Now, we really need the board to get a grip with well known issues and for us to see the SP moving back in the right direction. What we do not want to see is any sort of deal re Norpalm whereby issuing of more shares in lieu at circa 13.25p is reported to the market as a positive versus the current SP. It would not be a positive, for me and many it would be very much a negative. Now expecting Q2 results early next week, from previous modus operandi in terms of RNS's.

Looks like some gathering in bulk has been occurring today at these bargain basement prices, ahead of results (tomorrow)? Excellent.

Evening rugs, indeed. I certainly won't be bailing out at the moment though, currently sitting on an 8k paper loss. I believe this stock should realistically be around 15p - 20p based on current fundamentals, with plenty of growth to come soon. Looking forward to the Q2 results now urgently.

Totalnew, we have our two major sellers in the background who stopped this taking off after the Q1 results / Midas article. We also have some sellers who've bailed out on the back of that undoubtedly, looking as they are, at a circa 25% loss. As philpot correctly pointed out, we are somewhat reliant on constant newsflow via RNS's. The Norpalm situation is taking up a lot of the boards time, so we have a distinct lack of LJM puff pieces at the moment to raise investor sentiment. If Norpalm can be financed without any further dilution, that will be a major positive. Q2 news in the coming days - we are hoping this to be very positive indeed if Q1 is anything to go by.

It's worth taking a look at the "Circulars and Notices" in the Investors section of www.dekeloil.com In the "Notice of AGM 2017" from 28 June 2017, i.e. yesterday - resolutions 7 and 8 are of particular interest. Resolution 7 states "As part of this authority, the resolution seeks authorisation to grant future options to subscribe for up 2.5% of total shares on issue amounting to 7,399,894 ordinary shares, to the directors, officers, employees, consultants and advisers of the Company and its subsidiaries." - so more issuing of shares in lieu! Resolution 8 though is much more interesting. "This resolution authorises the board to make market purchases of up to 14,799,789 ordinary shares (representing approximately 5% of the Company’s issued ordinary shares as at 27 June 2017.........Shares so purchased may be cancelled or held as treasury shares. The authority will expire at the end of the next Annual General Meeting of the Company or 18 months from the passing of the resolution, whichever is the earlier. The directors intend to seek renewal of this authority at subsequent Annual General Meetings.......... "The directors intend to exercise this right only when, in light of the market conditions prevailing at the time and taking into account all relevant factors (for example, the effect on earnings per share), they believe that such purchases are in the best interests of the Company and shareholders generally.......The directors do not have any present intention of exercising the authorities conferred by this resolution but they consider it desirable that the authorities are in place so that they can more readily take advantage of possible opportunities.

Not a proper puff piece, but gets a mention here: https://audioboom.com/posts/6057889-nic-s-charts-today-are-dekeloil-dkl-infrastrata-infa-providence-resources-pvr

Thanks both. Yes phil, that is what I was expecting, just the usual box ticking exercise from my broker online. The RNS seemed to suggest though that something would be arriving by post! (I'll get my coat...).

I am somewhat confused re the section "circular together with scrip dividend election forms are expected to be posted on 3 July 2017 to all eligible DekelOil shareholders". I have my account set to just automatically reinvest dividends, so how/why does this line appear to suggest something other than what 'usually' happens is about to happen next week?

At last, now let's start moving back in the right direction.

Whatever is going on, we need clarity urgently. The SP has dropped 20% in as many days and dumper dude 1/2/buckle my shoe is not responsible this time. Why have we not heard anything about the Divi / AGM? The RNS of the 23rd May said "notice of Annual General Meeting [would be made] week commencing 5 June 2017", yet still nothing. The RNS of the 17th January said that the company "is pleased to announce the adoption of a progressive dividend policy and, in line with this, its intention to pay a maiden dividend in H1 2017". There are 4 days left of H1 2017!! Still no divi.