Member Info for LONGWAIT

'if Graham gets the deal done we could be in a worse position.'

Don't you mean a better position?

It just seems strange that, with practically every company I'm invested in here, there are comments to the effect that the promised or expected production won't happen, the expected finance won't materialise, the valuation of the company is much less then everyone seems to think, the prospects are dismal compared with what most investors think, the recent recovery in share price will not happen again, and so on and so on and so on.

With a massive supply shortage on the horizon, lack of exploration investment, lack of investment in proven undeveloped resources, and apparently a bull market in oil, it just seems difficult to believe all the supposedly-wise heads on LSE who say it's all going to go wrong.

"I think worth mentioning, as you perhaps aware, the company has a history of reports showing more resources over the years. Each expensive and followed usually by a price increase which seeps away, as we have seen twice recently. "

Had I known that, I would have sold at 10p, but looking at the chart, it seems that the last time it reached that level was eight years ago.

That suggests something out of the ordinary.

Could POQ announce that he is selling the company - or its interest in the project - for the same price as was reached on the day the moratorium was lifted (slightly more when you take into account the dilution that has occurred since)?

I do recall a higher price of 28 p, which I think was reached in May 2017.

Have we really gone through all this just to see the price get back up to where it was when the moratorium was lifted?

'I bet there are some pished off investors who have been moaning and sold out this week.'

I refer you to my reply of half past midnight yesterday.

'Get the sp to 25p and I can tell the wife.....'

Get the SP to 25p and I can buy a wife.

'We had nothing but good news, big buys yesterday and the SP keeps dropping? They wanna drop it 50% from its spike? 25p?
What games are these?'

The same games as the ones that drove the price to 45 p (or if you are right - 50 p)!
I've been here for nearly 7 years and I've seen this happen with many companies that were absurdly undervalued, had fantastic assets or reserves, and were sure to go through the roof.
Those things did not stop the price from collapsing after having soared.
No-one knows where the bottom is; it could be bottoming out now or it could be further down.
One thing I can tell you is that most people who deal in such shares are here to take profits and are not interested in making investments.

'We had nothing but good news, big buys yesterday and the SP keeps dropping? They wanna drop it 50% from its spike? 25p?
What games are these?'

The same games as the ones that sent the price to 45p (or 50p if you are right)!
I've been on this forum for nearly 7 years and I've seen this happen dozens of times.
I have invested in many companies which were absurdly undervalued and had fantastic assets or reserves but that didn't stop the price from soaring and then collapsing.
The price could be bottoming out now or it could have further to fall.
One thing I have learned is that most people here are here to take profits and not hold investments.

I just came across this report:

https://www.proactiveinvestors.com.au/companies/news/48037/anglesey-mining-shares-rise-as-lim-ups-resource-estimate-by-a-third-57252.html

'Anglesey Mining (LON:AYM) shares advanced as its 15.3% owned associate LIM reported a 33% increase in its mineral resource...

Anglesey shares rose 7.81% to stand at 8.625p.'

Then I checked the date of the article.

Thu 23 May 2013.

Déjà vu?

It looks as though this share price is manipulated.

It rose to about 2.75p on an excellent RNS, then collapsed to about 1.45p for no apparent reason, before soaring to 10p, collapsing to about 5p, rising to about 7p on what seemed to be a good RNS, before slumping to 4.35p.

Or does someone else have a better explanation?

If a company without any income does not raise cash, there is endless speculation that it will run out of money and then either go to the wall or succumb to a low bid.

If, on other hand, it does raise cash, it is accused of ineptitude as a result of dilution of share holdings.

Can you imagine the comments on this board, as the countdown to zero cash reserves would have progressed, in the absence of a placing ?

If so, newtofo, why are investors treating FOG as if it were anathema, and if we are indeed just one well result away from proving the concept, does that mean that the share price is just one result away from exploding?

If the drill is successful and yet investors continue to shun the shares, they will be a remarkable bargain.

So he didn't say anything about needing to raise money to keep the lights on?

Thanks for letting us know.

Don't forget to let us know if any more 5p corrections occur.

To my mind, there is something strange about announcing that one is adding to one's holdings, selling one's entire holding four days later, and then completely rubbishing the company every time one comments on it.

Here is a selection of comments posted today on advfn.
I have the impression that none of these posters has any interest in the company, other than in its failure.

Institutions appear uninterested and the BOD are relying on PIs to stump up in order that the company can survive.
(kakapo1 8.40)

accelerated bookbuild haha. This company is going nowhere.
(wolfsonshaz 8:44)

Why are the directors buying a paltry £60,000 worth of shares?
That's because there aren't no takers for the s*** they are showboating.
(wolfsonshaz 9:19)

For obvious reasons the BOD have to keep the ship aloft.
PIs need to read the signs before their losses escalate.
(kakapo1 9:45)

Some people are so thick it beggars belief. What the hell are the thick skulls doing buying at this price the share price is only going to get hammered below the placing price ...
(jtsouthern146 11:40)

This will drop like a ton of stone ... A lot of fingers burnt here
(wolfsonshaz 13:45)

I have just had a look, PC, and the pick of the comments is timed at 8.40, the gist of which is that the BOD couldn't get the placing underwritten because no-one would be interested in buying the shares.

The sociopaths there seem to be managing quite well, even without bones698's encouragement.

The fact that the price fell to 163 p just before the placing price of 165 p was announced suggests that the placing proposal was not the only thing to have been leaked.

Obviously, all the people who rushed to buy at 165, thus pushing the price up to 180, don't believe the vampire kitten's nonsense about the value of the shares.

It's already a multi-bag!

It was 0.6p last April, even though the company was profitable - a sure sign of the irrationality of the markets.

I really wanted to buy at 0.75 p, but told myself I'd already bought enough at inflated prices.

Maybe all of us who have overpaid will finally have all patience rewarded.

'JOG is worth exactly 162.5p per share as that is what people are willing to pay for it.'

(Alibro)

If I believed that, I wouldn't invest in any company.