Member Info for knee

It is trading below cash with a proven 25 million bls discovery given no value. if the seismic is insufficient to justify another well being drilled then it will still trade below its cash value.
any good news.....mind the gap

The company received the share placing at a price of 7.2p. last week. It is now 25-30% lower which makes the placing look good. Is the company allowed to buy back any shares at these levels and make a profit?

Plenty of upside potential

Cloudy with possible rain

If it resumes without too many associated costs.

Looks like the share price is still on a downward trend.

more sold than bought ........

The new NED will be conflicted on the new investments with his fund. It does not look like very good governance.

I guess NL will have agreed in advance with the new brokers to hold off calling the EGM until the new investors have got their shares. It will give them 40%+ of the enlarged company and the new broker may have agreed with NL to vote in favour of NL rather than remove him.

I have invested in AIM long enough to have made a number of good investments, a few bad investments, two fantastic investments and also couple of disasters. A market, however imperfect, is made up of buyers and sellers. If buyers value on hype, poor research and hope and sellers value on detailed research then it likely that the buyers will take out the sellers and the market is then even less perfect. What the buyers do once they have distorted the market is up to them and the market regulators. Birdseye, not unsurprisingly,you are wrong about my position: I suggest you concentrate on your booming snake oil sales business.

Even at this level it has a market cap of just over a million pounds. It does have about half of this in cash and no business. So the lack of a business is worth half a million pounds. There is the winning combination of PH and Beaumont Cornish in the background which inspires as much confidence as the current board who have destroyed shareholder value steadily over the last two years. The ex CEO has walked off with all the assets for a pound and still owns 10% + of this shell. Until a new board is appointed , an undervalued asset reversed in and investors given a detailed plan the valuation needs to be realistic. I suspect that if an RTO is found then it will involve a fund raising and that is likely to be at a discount to the then share price. If the price goes up then a fund raise may be coming so holders may like to sell into this "rally". Another risk is if the ex CEO decides to sell some shares. He has never cared about shareholders other than himself so far so why not sell.......

It was be most odd to announce a RTO before the EGM to eject the crappy Italian assets and management. The CEO having managed a freefall in share price for investors walks away with 100% of the assets. No doubt he will rub salt into shareholders' wounds by getting a massive write off on the loans. He also has 14% of the company which he will no longer control. What's the betting he sells out onto the market as he will know a RTO will see a share price decrease.

If �6mill is required then the chances are that it will be done at a discount to the current market share price even if it is a very attractive RTO target. A listed shell has a value of course. Some say it is �300-500k. If you add on the cash held then it goes up to �900k-�1mill . That is two thirds of the current market cap. I would not be surprised to see P&D merchants peddling their wares in the time before economic reality bites.

It is good to see all the dead wood being thrown away. The cash left in the bank is what we need to focus on. Nothing can happen if shareholders vote against getting rid of the Italian liabilities ( management and business). With the decks cleared then a RTO can be announced in due course. Whether that is this year or not does not really matter. Assuming all goes to plan I estimate that the cash in the bank when the RTO is announced will be �400-450K. That will be the only asset of the company. Thus the market capital needs to be compared to that. At present it is 3 or 3.5 times higher. The excess is the "goodwill/expectations" of the RTO. If the share price is too high then the RTO is less attractive for the assets coming into the Company. Any funding a RTO requires has been done at a discount to its announcement price. I can find no exceptions to this general view.

The long suffering shareholders have been treated very badly by the current board so the sooner they go the better. It is galling that the destruction of shareholder value was caused by the CEO and he will get the assets for next to nothing. So he ends up happy. A fantastic RTO would push the SP upwards however can the gruesome twosome of Peterhouse and Beaumont Cornish attract big name directors and an undervalued RTO project that does not dilute the current shareholders of CGP? I agree that if they can then the SP will be off to the races. So the success is a direct function of Peterhouse's RTO.

I hope you are correct on a 6 month view. However given that we know very little at present to 20 bag from here is asking a great deal. The new shareholders control the company and given the trading volumes they do not look very sticky. We need to get rid of these spin merchants and get the SP at a sensible level for the RTO. The RTO is key to success. If the SP is too high then other shells will be more attractively priced. The sale to the soon to exit CEO needs shareholder approval. So far we know very little about the potential disposal. Will the government credits in dispute go with the disposal? Has the loan from the Italian bank gone into the CVA? If not will these secured loans go with the disposal? Until these terms are known shareholders will not know if it is the best deal for the company. Any competing bid will not be able to access information for some time. The disposal price should represent fair value which the broker and NOMAD will have to agree to without the benefit of a competitive bidding process. No doubt there will be legal fees, brokers additional fees and NOMADs additional fees which will eat into the cash balance. Then the RTO can be announced with the proposed funding which may depress the then current market price. It is interesting to note that RTO fundings are always at a discount to current share prices.

�550k raised at 0.25p. When debts and ongoing costs are taken account of I suspect the actual cash held will be significantly lower than the amount raised. There will be substantial legal costs to deal with CVA, sale of business, etc. Given the likely quality of the shareholders bought in at this Management Give Up financing, they are likely to sell and realise a quick profit. These should be trading closer to the issue price but some PI may like the idea of a cash shell trading at 3 or 4 times the amount of cash held. There has been no mention of any RTO company or sector so no clarity on the future. Froth or multiple froth at this stage.

With some moderate good news this should start to move upwards. The downside is now limited in the short term. It seems stable with little trading volume. Company needs to sort out its PR/IR activity.

First there was Peterhouse and now there is Beaumont Cornish, the Gruesome Twosome that strikes fear into investors. No doubt a fund raise at a substantial discount to dilute existing shareholders is now very likely. History has a nasty habit of repeating. Beware..........

Shareholders are shafted yet again. The new shareholders that Peterhouse bring in will own 80% of the Company. It is in effect a shell company with a listing. The CEO will buy the industrial assets for peanuts, assisted by Peterhouse no doubt. Don't pity the bank lender!!Given the shafting that shareholders get it is pleasing to note directors are taking some pain for once. The combination of Peterhouse and Beaumont Cornish is a great worry given their "colourful" background and the mess they created at Nyota Minerals. I hope Tom W will now take an interest in CGP to protect longstanding and much abused shareholders.