Member Info for legache

Roxi,

You baited me. Let me explain how this goes. I have long experience of similar situations.

Individual / Institution X aquire 30% - normally as cheaply as possible using all expertise at their disposal to grind the price down to lows as possible as funds managhers and PI's bail. Offer is triggered and is never anywhewre near market / book value for the assets. Predictor X wants to make money after all! Shareholders vote, but then most don't bother. Predator X gets firm private on the cheap. Seen this recently with SDX, and several others over the years.

Its too risk for me hold too many of these shares for this reason. The closer Tyrus [and people acting in concert] get to 30% the lower my holding goes.

It will probably happen here... but i hope not.

roxi,

if revenue exceeds 400 million, then what is your estimate for the other side of the book? another loss is going to be a kick in the teeth.

i'd look into the costs of half a lager, not ****tails, it seems more fitting by my estimation.

my view is the tyrus will get 30% and soon and then they'll take it on the cheap, just at the point where we'd be expecting a big tick up in the share price. i've swum with these private equity t*ats before, i know their game. the pi cannot win.

Bottom line is the drill was a success and although cost a little more than hoped payback will be short.

Comparing costs to current market cap is a completely bogus comparison

Good news, the a cost over run. They always manage to make good news sound bad. Overall, pleased that rates will be higher although guidance on how much higher would be insightful

Pi's taking up some of the shares then... Tyrus also tantalizingly close to the takeover threshold...

And given some recent posts on this board, that's quite something....

I take a more cautious view. Iran will have to negotiate. It's the only card they have. Conflicts will end in negotiations. This one will as america will never put boots on the ground. I cannot see oil over 100 bucks. Either way, JSE is a beneficiary.

Nm

Theoretically, from tomorrow onwards. Of course, just because they can doesn't mean they will.

They also now have approval to repurchase shares. Good news.

2% of holders voted against the approval of the accounts. Almost 8 million shares!

We've noticed!

There 541M shares in issue, so that represents less than 1%. To reach the 30%, Tyrus, assuming it is them, will need PI's to sell another 8 million or so shares. Their broker is playing a blinder IMO.

Brokers must have played a blinder here!

Another 650k this morning. Something is up. IMO

Lots of big buys over the last few days. Something may be coming. It's always us plebs that are the last to know!

Yes. I highly doubt if that's their game though.

Bid back on 23p, now, my order is filled!

Bid moved to 24p, nothing on the ask. MM's short of shares.

Cannot buy in any size at ask price. Put a limit order in and trust my broker can look after me.