Member Info for LUCAIN

Notable that only one of them (the smallest) paid more than 1806. So that may be the ceiling for the moment.

As for talk of a takeover, remember the CEO holds 52%. So it can't happen without him, for sure. Also he is probably irreplaceable, given the nature of the company's business.

Just this: while everything is going very well at present, the company would be vulnerable to any slowdown in trading, given the present MC.

Market cap here now over 300 million. Net assets as in last RNS, around 50 million (mainly cash).

Probably more by now, but it still puts a high value on hope and expectation.

Does that worry you at all?

Thanks for posting Winnifrith. Apart from being spiteful and uninformative, it's borderline illiterate. Just a rant.

For those of us who don't subscribe, could someone kindly summarise what he says?

I presume it wasn't favourable.

I think we may assume the NOMAD insisted on yesterday's RNS.

It should not have been a complete surprise, I know a poster here a few weeks ago noted that the fall in share price might prevent the final Riverfort payment.

It is a shambles, but spare a thought for the founders. Most of us have lost some money, but they are watching their life's work go up in smoke.

A query, if you will. You have pointed out the close links at board level between Helium-1 and Orcadian Energy; and I see the 'supportive investors' who put up the recent private placing money are all involved in Orcadian.

So there is clearly a link. But is this link, and the progress at Helium-1, any advantage to Orcadian as a company, or to its shareholders in general, as matters stand?

For clarification14 Dec 2023 17:02

It would appear that some of my recent posts have ‘agitated’ a few people so let me clarify a few things.

Firstly I was responding to a comment by IsleworthSpy (who I respect) that until 2016 BMN was regarded as an iron ore miner. I provided factual supporting evidence that from 2013 onwards vanadium was increasingly present in the Company’s plans. That was also confirmed in a number of conversations that I had with Fortune during the period 2013 to 2017. At no point did I refer to more recent years or make a general defence of Fortune.

Second, I pointed out that had BMN stayed with iron ore and not pursued vanadium including the purchase of Vametco then the many shareholders who either took large profits in 2018 or had that opportunity to do so but did not take it (including me) would never have had that chance to profit. This is factually true.

Third, I took out my original stake in 2017 giving me more or less free shares. This is true. However I would have been far better off had I waited until 2018 and done the same or sold out in 2018. I did not do either. No one to blame but myself for bad decisions. Not once will any of you have seen me complain about this. My responsibility.

Next point. Like many I bought more shares on the way down in the 40’s 30’s and 20’s. With hindsight not the greatest of decisions and that increased my average (still in single figures though.) Again not once have I complained. My decision to buy. My responsibility. Perhaps the fact that my fight with cancer began on 01 January 2019 (Happy New Year) might have clouded my judgement but suddenly money was less important to me. While the share price was falling I underwent major surgery followed by a long period of recovery and then very unpleasant chemotherapy lasting most of that year. It certainly changed my priorities. However like most I am significantly underwater and share the same concerns as many reading this.

Finally since Craig took over I have bought more in the 2’s and 3’s in order to reduce my average and in the hope that he is able to restore the company fortunes. Sadly as my cancer advances and taking into account the time forecasts that some have posted here it seems increasingly likely that I will not live long enough to benefit from this. Again you will not read of complaints from me. That’s life (irony)

If people wish to hurl insults my way that is their problem not mine. Life is too short for me to waste time on these nasty people.

I have never written anything about BMN that I did not believe to be true at the time nor will I.

Best wishes to Su if you see these messages. We will miss him .

I think part of the problem may be that the big banks are gradually pulling out of the oil-gas sector. Look at what happened to Touchstone - excellent drilling results (mostly gas), shot up, then shot back most of the way the next day. High finance doesn't want to know about hydrocarbons. (By the way, Touchstone is offshore Trinidad, next to another company we could all name).

Unfortunately the share price is not irrelevant, far from it. It's what you get if you want to sell, or have to sell.

It is hard to correlate the optimistic view of posters such as KeithOz, who are clearly well-informed, with today's share price slump. Do the sellers dance to a different drum?

Market very nervous this morning, as if someone is expecting a placing. Unlikely at this level, I wd say.

Do you know a chap called Olderandwiser? Are you related? No? Both invested here, I think. Just a coincidence?

It's astonishing the hostility to an intelligent post. Some people just want to hear huzzaa!

Somebody certainly thinks these are a sell at around 3.20

Not sure why people are getting excited. TB has effectively moved a bunch of shares from one pocket to another. Don't know why, but don't see that it makes much difference. He still controls the shares either way, no?

Your good sense, balance and logical approach is much appreciated.

You may not be right in the end - though I think you will - but in either case it is hard to find fault with your reasoning. And your patience.

Don't get carried away. News has been due for a long time now. One day it will arrive; it may (or may not) be good.

One thing is certain: If, for any reason, flow test results when eventually released are disappointing, our learned friends at the Bar will have a busy and profitable day.