RE: Price action19 May 2025 15:52
Stewart, AIM is littered with dogs (oilies and miners) that have managed to get some funding from a major, who then do nothing with the asset and eventually move on. For the major, it can be a genuine intent to do something at the outset, a speculative asset hold which they assess the area or wait and see. It's also an efficient way to offset tax.
For AIM BODs, it's a result as the payroll keeps running and the area keeps going. More often than not, though, the investments don't progress the stated ambition, and the clock runs down on the agreement while the BOD keep the carrot dangling, claim to be frustrated and want back control, only for the eternal look for a new farmout partner begins and the rinse and repeat cycle starts again!
This company has a horrendous reputation and is known for value destruction, no matter how many times it changes it's names or consolidates the shares in issue to make things look prettier to the unsuspecting.
Beware the drip-drip, it's usually a bad sign!