Member Info for johnpwh

Yep still here!
Only just noticed this. Why increase the offer that was already agreed by the puppet Board of Directors? I assume institutional investors have made it clear that they wouldn't support it. Will a measly 4% increase in the bid really make a difference?
I think we are supposed to be convinced that the BOD are good chaps and that we should support the Americans taking over our provisions for the UK elderly. Bizarrely it wont change my mind

Hi daltry, hope you are well.
Long time since I looked on here. Funny how its changed. For a couple or three years I looked at this board everyday, posting reasonably regularly, and saw the same knowledgeable crowd posting. Now its totally new people all hoping for a miracle! In my opinion there is no miracle. Trice was no conman, no Bernie Madoff type. He was simply completely and utterly deluded and mistaken. His only real crime as I see it was that beyond a certain point his pride wouldn't let him admit that he had got the whole situation catastrophically wrong. He must have known that early this year if not before. Certainly before the Capital Markets Day presentation in April when he stood and lied and lied and lied. I blame the competent person system, which I assumed would be like an independent auditor with the relevant experience to judge and if necessary challenge Trices claims. It rubber stamped Trices beliefs, presumably for a fat fee. That, and his puppet BOD, failed shareholders. The old guard who posted here really understood this company, or at least the fiction that was the story given them. But the story wasn't true, full stop. If it were Trice would have challenged the new BODs findings. There is little oil. very little compared to what was predicted. There are Bondholders due for payment in 2022 - you cant see them deferring repayment as the oil dries so will want the company assets leaving nothing worthwhile left for equity holders. This is a caretaker BOD, here to root out the truth and preside over an orderly run down. If that is their purpose then why would they hold other than nominal amounts of equity? Who could expect them too, they are just doing a not very pleasant job? They have been honest about what they think is the truth here. Bit of a scandal really even if it wasn't an intentional rip off. The result is the same, this company is in final run off. My advice to anyone here is think carefully before pledging any more money.

robgifc
Are you referring to me when you are saying you can spot a shorter? If so you should get yourself down to Specsavers as you clearly can't see the nose in front of your face. I have never shorted a share in my life and don't expect to.
I wasn't planning to post again here again on this board but what I have read this morning has surprised me. These boards cease to be useful in my opinion when you end up with a group of holders patting each other on the back on every rise and delivering nothing but positive spin on every bit of news, be it good or bad. I have been investing, mostly successfully, for nearly 40 years. My advice is welcome a contrarian view, even if after consideration you can justify dismissing it. Keep an open mind even though the investment may excite you. Good luck with all your investments

I decided to throw the towel in at 8 o'clock. With EVs on the horizon (will cars still be coveted or just another disposable white good?), a world where Covid will be an influence for longer than some think, uneasy that F1 will be more than an expensive sideshow, lots of financing and a very competent but probably self interested management ...... I just decided that I don't know which way this is pointed. I cant gauge it, so felt like gambling rather than investing
Thanks for the conversations, excellent posters on here. Good luck and seasons greetings
John

Shame that Racing Point are retaining their least talented driver because he is the bosses son and replacing a clearly very talented driver with a has been who has lost interest and is just driving to enhance his retirement fund. Its no good AM spending tens of millions if they are not going to have driver who are either incapable of, or no longer interested in, winning races.

Yes, its quite slow when dangling upside down

Doyezee
Agree with what you say. 2 things that may influence AML tomorrow is the continued lack of knowing whether or not a Brexit trade deal can be negotiated. The other would be a good showing of Strolls cars in the Grands Prix.
To put the Brexit fiasco/ charade into context, more time has elapsed since the Brexit referendum in 2016 than between the declaration of War in 1914 and the signing of the Armistice in 1918. How rubbish are the politicians on both sides - and they still are talking

That seems to be the indication. But sadly of course the value of your holding wont!

Dates are at thebottom of the RNS. 11th December is the record date I think

I don't take middle ground. i go for facts

I sometimes am amazed by people posting on these boards. Such naivety when they are probably investing thousands of pounds that they have worked very hard for. Such people should stick to their local building society. On Monday this share will react to overall market conditions, unexpected company specific news or consensus about future company prospects in response to World events. it wont suddenly react to something that has been known about for days or weeks.

Nice steady build here. Better than wild swings, I think the gradual build is preferable. More potential investors may get the message, maybe even a write up in one of the papers? Who knows

Ash, Cornish. Ask any long termers like Van, Paul280i, DJ and indeed Ash and you will find I was once almost AAUs biggest enthusiast on this board. A lot of that was built on trust of the BOD, but somehow since this proposal reducing AAU to a minor partner I no longer feel that way. I worry about the strength of the majority shareholder. As they said in one of the Peaky Blinders series (the one with the Changretta mafia storyline)......Big f***s Small!

Precisely my thoughts Ash. I think some think Ozaltin are going to merrily write cheques for the Salinbas processing plant and everything else out of the goodness of their hearts until gold is being produced. The wording in various RNS' haven't really been helpful in dispelling that assumption

Cornish
The RNS of 29th September includes "...both Ariana and Proccea shareholdings will be protected within the Joint Venture by being non-dilutive and free-carried...". What is your interpretation of this as I am not sure.

Hello fellow John
Depends on how you look at it, and whether 'over 20months' has an impact since the JV structure should have changed within that time.
The basis of this sale has been known for several years, and noted previously in several presentations, as 3 times the costs AAU incurred in getting the prospects to this stage (I assume that includes licence costs, digging bloody great holes in the ground etc.). Note that it is being sold into the current incarnation of the JV, which at present is owned 50% by.....AAU. So the my cynical view is that AAU is netting $1m, because $1m of the $2m is being provided by itself by its 50% interest in the JV. So going forward it has given away 76.5% of a significant asset for £750k (since going forward AAUs interest in the JV is 23.5% from memory, and these assets will not be exploited until the new structure is in place ). Good value? Up to you to decide, but it hasn't lit the SP up.

Some great posts and links here. Thank you
John

Thanks mrc. Obviously strengthening oil prices, easing of lock down and as you say a cold winter will help. More home working will also, I would have thought, increase energy consumption - after all a factory or office block consumes much the same power if full of people or pared down to a minimum. Also Johnsons green initiatives will help renewables, maybe helped by the Scottish Parliament on top?

So chaps, with Brent at $48 where does anyone see Parkmead going in the next 3 months?

Sad to see the lack of interest here. I will vote against this deal because I object to these greedy Wall St. types coming to the UK and asset stripping UK companies (albeit UK companies run by self interested BODs). I think any counter bid would have surfaced by now.