Member Info for Kabaa

You have received cash for your shares already?

I agree. This has just become an ultra high risk investment now and there is a reasonable chance shareholders could lose everything or the majority of their investment very quickly if things continue not to go to plan.

Clearly the real market consensus is that Topaz and duyung are not worth nearly as much as people have suggested.

Both assets are highly illiquid and would be hard to find any buyer for at short notice.

They now have £3.3m debt that will be very hard to pay if called in. It wouldn't surprise me if the shares are suspended if it is.
They now need a quick asset sale or to raise more money.
Best of luck to the board for pulling something out of the bag but people suggesting this is great positive news and to average down, well I'd be careful of them.

Crikey!
On the telegram the admjns would have you believe there would be absolutely no chance of a placing, duyung is worth 5x the market cap and underpinned the price at 7p. Also that everyone should be 'balanced' and consider averaging down.
It looks like cap in hand placing at 1.5p which is around £11m market cap + a rubbish debt restructuring.
I would expect the share price to go nowhere for this year and next.
I feel for people who got burnt on this, especially due to the ramping on the telegram group.
Good luck all.

Sorry to see so many people have lost severely on this.
I believe many were taken in the this larrat character who put himself out as a 'master investor' and an oil expert.

People on telegram seem to be upset with him and rightly so, yet they are being threatened with removed posts.

When someone comes along and shows off about being early retired and rich and saying this is an extremely low risk underpinned bet with bonanza upside, of course many people get suckered in and invest way more than they should. He puts himself out as some charitable person who devotes his spare time to helping people.
In reality many have been destroyed by this.

The fact he disappears after dire results tells a story in itself doesn't it?

You should see the telegram group. Some comments from know it all Steve:

"The share price at 10p is 'underpinned' by duyung"
"If you buy at 10p, you can derisk at 15-20p and free ride it"
"There will be no leak, the rig is in complete lockdown"
"Buys were more than sells"
"100% there will be oil there"
"£40/share upside"

Sorry for everyone's losses today. Hopefully a few of us will have learnt a lesson from this.

Unfortunately people have followed a youtuber called Steve on this who spouts absolute drivel with a lot of confidence.
Unfortunately It still seems to have not sunk in for many!

Big isa transfer there.
He must have had a lot of cash in his isa to do that.
I bet he absolutely cleans up on this!

If you look at the buys this morning, there are at least 4 twenty grand buys. Isa money coming in.
More to come imo...

People can put 20 grand new money into there isa from today.
Expect a few people will want to buy eme with that with the risk reward coming up here.
Not surprised it's off to a good start today.
CLN's could be gone any time now along with a gsa and spud coming up.
Wouldn't be surprised to see 20p very quickly.

Whoever sold it likely did not know Mike Moles was the buyer and is likely gutted to find out in the RNS.

Both rns today are very bullish signs for 2022!

Especially the massive director buy. Wow!

This company gets more exciting each month...

Some of the most pathetic results I have ever seen.
I see why they released on the last day of the month at 6:25pm!

Great deal here by IRR.

Ggp gave up 70% of haveiron for a much smaller spend.
We give up 50% for a higher spend plus have a 12 month lock in of equity investment.

Selling lithium to Tesla too.

Well done IRR. This is going to be incredibly exciting from now on...

Over £20m cash too. That is amazing and clearly the market needs more time to adjust the sp upwards significantly from here.

Same thing happened at ecr.
Price drops for weeks then discounted
Placing at 2.2p with warrants with a continued drop.
The dilution here is even bigger though.
This will unfortunately get hammered for the next few days/weeks.

Completely agree with the negative comments on here for the past few days.
With the rns of 25th January and the interviews since then to hit a placing after a 50% price drop for money we very likely don't need from a bucket shop. There is no decent explanation I can think of. The rns at the time seemed very strange and completely uneccessary.

Out of all of the placings I have ever seen in any of my holdings, this I believe is the most shocking and disappointing.

If there were a vote to remove anyone involved in this from ecr, I would vote so and I'm sure many others on this forum would too.

We have decent assets but this imo has killed sentiment for quite a while.

Too shocked for words and I like many others do not know what to do regarding buying or selling now.

I'd love a real, genuine explanation that I can actually believe but unfortunately all we can now do is speculate as to what happened like many have been doing in the last few days.

Fair enough. Your posts suddenly went from super positive to negative.

The IR guys are normally useless and don't think they even know anything most of the time.
They frequently work for many different listed companies at the same time and just relay any info in the public domain. I.e. the annual report or the prospectus.

With cbx, I'm sure we will get a few announcements between now and August as the company progresses on different fronts.
They do have 13 million quid so can get things moving much faster than the majority of companies of this size.

You compare that to a company with say £5m and strip out admin and salaries, they don't have much left to put into the business. Cbx is in a very strong position and will turn out to be more exciting over the next few months imo.

Amran.

I assume you sold out on the 29th March as that is when your posts turned from extremely positive every day to negative.

Who did you speak to in the company?
We can then verify your claim...

We have likely finished all of the end of March and tax year selling yesterday.
Market makers often smash the smaller stocks for this and take them back up in April/May.
Some of the aim shares on my watchlist got obliterated because of this.
A silly phenomena but that's what taxes make people do....

But how many has he been buying in that range?

The majority of his shares are owned at a miniscule price.

The amount of times I've seen 'xyz has no intention to sell the shares within 1 year' then only to find out after the price has collapsed that that person did actually sell shares and reported it months late!

With £35m death spiral financing too, which the financier will get 10% share cheaper on average whatever you lot pay for them also makes one wonder why on earth would you buy here until at least most of that is converted?

This has bubbled up but too many reasons this will decimate in 2021 and 2022.

I'm not sure i'd be buying even if these halved unless they are able to get more secure financing and secure revenue.

Very dangerous buying at these prices.

At 10p. 13:07pm.