Member Info for LGO-fan

Why would it be to catch traders out? What info is the RNS that makes you say that?

Not sure what traders have to do with the recent slump in SP. We have Schroders and most likely our contractors paid in shares to thank for that, IMHO. Traders like up and down SP movement. this has only gone down for months.

or are they simply converting their stock opinions into shares; i.e. they get their fees paid in cash and get the shares.

Brasso makes a good point re Directors fees: the announced in September they would no longer take fees in shares as of Jan 2020; but now they announce the contrary. Is that to give us more confidence? Not sure this is all very “clean”. Can they just make these changes because it suited them? Should they not get shareholder approval for these changes?

It could suggest they are confident in what they are doing but find it a bit strange to revert so closetafter the September RNS. What am I missing?

hmmm.....so so far we have an RNS with literally nothing new we care about and a corporate presentation we cannot download. All going well then!!

can’t seem to download the 2020 doc from the website with my iphone...anyone else having this issue?

not really. Middle cruse noise is a bit ambiguous: LC was the big prize, so are they starting to manage expectations? LK concerting his options is a logical move : nothing earth shattering. The rest are little snippets with little updates. Need to check if there is more on the corporate site but this update is a bit “lukewarm”

All good arguments but the sp came down since Schroders came on board, so the increase in pi's didn't make up for the dilution caused. And don't forget, it wasn't needed according to the CFO. Fact is we are now in a pickle from a sp POV.

Hmmm...my post seems to have been deleted....trying again...

I was very vocal (and against) the equity raise to bring Schroders on board. Couple of observations:
1. The CFO has announced online, a week or so before, that they didn't need to raise equity. They didn't need the cash
2. A week later, the RNS drops - share price gets diluted, and drops, with the promise they were in it for the long run
3. Now they have been selling for months, caused the SP to crash to pretty much all time low under LK.

Clearly there weren't the long term player LK hoped, it wasn't needed according to the CFO, and clearly it has back fired massively. This one is on LK. It wasn't needed, it was all too soon and now we are paying the price for it.

The next "cornerstone investor" can jolly well buy shares on the open market like the rest of us, IMHO

Carillion...got out of that one at 200p...best thing I ever did :-)

would you not say that anything communicated prior to the RTO announcement is now on hold?

You clearly are saying they are not doing a good job on the PR-front at all :-)

I quite agree.

Well, they made $27k profit on it :-)

it’s a waiting game. That’s all it is. It’s frustrating but it is what it is.

If we hadn’t brought Schroders on board, we (a) wouldn’t have had the share dilution and (b) we wouldn’t see the massive sell-off and ditto drop in sp. We are pretty much at an all-time low since Lk joined. Schroders always was a vanity project. Feeling big, when you really at small. Always goes TU

*wouldn’t

I would say that a deal is done, because it isn’t until all i are dotted and t’s are crossed. More precisely I got the impression that the asserts hadn’t been sold yet. Think that is the tricky bit.

I have the same concern: too many pi's have lost money because of "jam tomorrow"...so a lot of pi's will look for actual delivery. That's just the normal consequence of AIM shenanigans from the past; IMHO

It will take the time it takes. The new BOD has quite a challenge: they are effectively rebuilding the company from pretty much ground zero. If it works, it will have nothing to do with Mayan at all. A new BOD, a new team, new strategy, new assets. Kudos to them if it works out. Selling 3rd generation assets will take a bit of time. They had to announce and suspend the sp: can you imagine they would have started selling the assets without shareholders knowing?! Apart from breaking all sorts of rules, this BB would be in uproar.

I don't enjoy this waiting game as the next guy, but TINA I'am afraid.

hard to tell. Assuming they sell 0.5mn at a time that is 12 sales. If 250k then its 24 sales. You need someone to buy each time you wan to sell. Not sure how easy that is this climate

hard to know, is it.

"As or right now, there isn’t much to report other than we’re working on the year end audit, ensuring we meet the requirements of the MOU (asset divestment in order to have cash for RTO) and conduct due diligence on the proposed assets to drop into the company. Divestment of oil and gas assets is also a long process that involves marketing, showing the assets, due diligence, agreements and only when the authorities allow the transfer, does closing occur."

Neon is absolutely right. Though I have to say, this is one of the areas where the company could have explained things a bit better. That line referring to "tops of larger sand packages", gets overlooked time and time again. Also noticed it on that other BB.

Look, now that I managed to single-handedly crash the SP, have made the worlds biggest top-up, and the worlds lowest entry price.... all according to Lord Neon....let's all be happy again ...

This saffron well is either a failure or is sooooo massive that LK is all over it, and has no time for anything else. Who knows, but he could have delegated some coms to his new NCEO and keep us better informed.