Member Info for Mambamentality

* £0.2086 and £0.2370

Priced moved above the 50 day moving average (£20.86p) which is one of the best buy signals. RSI above 50 is a good indication too. I doubled my investment here. If the SP moves above £23.70p it would gather bullish momentum.

Actually the Twitter post has some significance. As you know we have secured applications for some part of ANZA which need to be converted to granted licenses. There had been some doubts about the willingness of the past administration to grant licenses. However, it was thought that the new Governor of the Antioquia region was to revitalise the Concession-permitting process which can be seen happening by the drilling permits given to our neighbours of the Guintär, Niverengo and Margaritas (GNM) project which area located in the Anza mining district.

It should be too long until we receive drilling news or concession news and hopefully some news in relation to the acquisition of new projects. Once the current campaign is completed we can also expect a decision as to whether our JV partners decide to take a formal decision to assume operational control of the Anzá Project.

Agree the share price does not reflect the results and work which has been carried out since the beginning of drilling back in October last year. The placing price back in November 2020, was 17 pence per Placing Share thus pretty good value at this price. With the price of gold continuing to rise we should see money put back into gold stocks soon.

Given that the company is fully funded and with at least 7 holes to report and 5 rigs currently operating we should see some good news soon and a re-rate in the share price.

It looks like we will see 38p pretty soon and a strong support has formed at 30p.

There is no risk of coup as the police and military forces are with the government. A pre-agreement has already been reached.

https://www.reuters.com/world/americas/colombia-government-strike-committee-meet-again-amid-protests-confirmed-deaths-2021-05-24/

Interesting to see the reaction from Kodal minerals' shareholders to the coup at Mali compared to shareholders here. For the moment I am out until the political situation is settled.

The chart is looking pretty good too. Bullish reversal if we manage to finish above the 20 day moving average at 78.98p. If that is the case we could see 90p pretty soon.

During the interview at the Sunday Roast Cerrone said that the trial was to start at any time from now to the Summer. Patients will be added as they become available. Good news they have been able to start now.

If Tiziana shows proof of concept in just one indication the company would be a multi-billion company and being the only one being able to do it nasally or orally would be as Cerrone says the crown Jewel specially for a form of MS that currently has no effective treatment.

Dr. Howard Weiner, Robert Kroc Professor of Neurology at Harvard Medical School said, "Nasally administered anti-CD3 is an exciting, novel approach that has the ability to provide safe treatment for a form of MS that currently has no effective treatment. We are excited to examine this first-in-class approach to treat patients with SPMS for whom no effective treatment option is currently available."

Dr. Tanuja Chitnis, Professor of Neurology at Harvard Medical School and senior neurologist at the BWH, adds, "Effective and targeted treatments for progressive MS are urgently needed. Nasal Foralumab could revolutionize treatment for this disabling form of disease.

I tried to get 5K the whole morning in HL and gave up. I submitted a kill or fill order and it was filled at 8.5p. Really strange not being able to buy for such a long time which in my experience could mean that market makers want some shares at lower prices. Good results considering the market cap of the company and with plenty of results to follow and with the gold price ticking up it seems like a good time to buy/hold.

At the Shareholder Plan Meeting the Company will seek approval of the Restructuring Plan from Shareholders. In order to be approved by the Shareholders, the Restructuring Plan will require the support of 75% (by value) of the Shareholders present (virtually) or by proxy and voting at the Shareholder Plan Meeting. Each Shareholder shall have one vote for each share held by such Shareholder.

Thus, if not accepted by a special majority the plan will not passed which seems to be what most shareholder wish to do. I guess CA will be of paramount importance to provide evidence that to oppose the current plan. But, most importantly to provide a working plan which the company agrees to implement (if that is possible) given that according to the company:
"Shareholders and Bondholders are reminded that in the event the Restructuring Plan is not approved at one or more of the plan meetings, or if it is so approved but not sanctioned by the Court, the Restructuring will not be capable of being implemented. In that scenario, it is likely that there would be a controlled wind-down of the Group's operations followed by an insolvent liquidation of the Company".

As I thought one thing was reported here and another happened during the hearing. No much difference. The directions the company sought were given for what I can see. The only relevant part seems to be the opportunity for shareholder who want to oppose the sanction of the restructuring plan to file evidence in opposition. I guess that would happen in any event in most cases.

Any Scheme Creditor is entitled to attend the Scheme Convening Hearing to make representations to the Court, or to instruct counsel to attend the Scheme Convening Hearing and to make representations to the Court on his or her behalf.

I wonder if people providing information of the hearing are really attending it as they need to be a scheme creditor or a relevant party and a videoconferencing link should have been provided to such parties directly by the Court following a formal request. I do not think this is a public hearing were anyone can attend.

It is clear people really do not understand what is supposed to happen today in the convening hearing. Expecting a removal of directors today is completely wrong. That is to be decided in an extraordinary general meeting. I can see little difference even if the said removal of directors take place as that would not affect in principle the re-structuring plan. They are attempting to remove executive directors and gain more votes in the board of directors by appointing two other directors. If they were changing the CEO then that would be a complete different thing. CA fund previously requested that both the Chairman and the Senior Independent Director resigned immediately. They refused to do so.
What would be the best outcome from this Convening Hearing?
The convening hearing provides an opportunity for the proponents of the scheme to seek the court's approval to a proposed course of action. This approach provides creditors who are opponents of the scheme with an opportunity to seek to have it halted at an early stage, and before the level of support is tested. Thus, this would be the best outcome for shareholders but I am not sure if any creditors oppose the scheme as they seem to benefit from it.
Faced with an insolvent liquidation as the alternative to the scheme, there is already considerable commercial pressure to have the scheme approved. That pressure increases as the board has already secured 69% of bond holders approval and they require 75%. The Convening Hearing is for the purposes of seeking an order making certain directions in relation to the Restructuring Plan including permission to convene a single meeting of Bondholders for the purpose of considering and, if thought fit, approving the Restructuring Plan.Earlier in May, Hurricane Energy said it was set to agree a debt-for-equity swap that will leave bondholders with the bulk of the company. Hurricane has around £165m worth of bonds which are due for repayment next year, so directors have agreed in principle to a deal that will see bondholders exchange much the debt owed to them for 95% of the shares in the company.
The deal would see existing shareholders almost wiped out, but directors said there was no other way of keeping the company afloat. A deal struck with a 69% majority of the group’s convertible bond holders will see some US$50mln of the total US$230mln debt swapped for new shares in the company.
But the plan appears to offer little more than a stay of execution.
Even if it goes through, Hurricane’s board does not expect the firm’s only producing field, Lancaster, to receive further investment.
Production from Lancaster would stop in February 2024, with Hurricane’s operations wound down by year-end.
Analysts said the end was in sight for Hurricane, which was set up to develop fractured basement reservoirs west of Shetland.
This is not financial advice DYOR. This is more of a gamble than an investment at this point.

“The Chinese position on cryptocurrencies is clear from the beginning: trading and usage of cryptocurrencies are simply forbidden,” said Swissquote senior analyst Ipek Ozkardeskaya. “Therefore, the news is nothing ‘new’, but given that crypto-traders are too sensitive to negative news nowadays, it adds to the downside pressure on cryptocurrencies.”
"On the other hand, the Indian government is reportedly considering forming a fresh panel to study the possibility of regulating cryptocurrency in the country amid some suggestions that an outright ban is an outdated view".

Good time to get into crypto and miners.

This is the fist time Bitcoin has been oversold with an RSI of 25 since 12 March 2020. The 200 Moving average at $39,200 will act as a strong resistance. Thus, I bought today back crypto and took a position here.

Not sure what is the excitement as this does not change the situation the company is at the moment. members representing at least 5% of such of the paid-up capital of the company as carries the right of voting at general meetings of the company (excluding any paid-up capital held as treasury shares)can call a general meeting.

However, in order to remove a director an ordinary resolution needs to be passed ie, it must be supported by more than 50% of the shareholders who are eligible to vote.

Directors must act in accordance with their statutory and fiduciary duties, including the duty to promote the success of the company for the benefit of its shareholders. Where shareholders feel this is not the case and the relevant director(s) refuse to leave voluntarily, shareholders may wish to consider removing them.

The position can be complicated if the director in question is also a shareholder or employee of the company, as this may give rise to arguments of unfair prejudice or unfair dismissal. Extra care should be taken in these circumstances to mitigate either the risk of claims against the company or separate shareholder claims.

Thus, even if the directors are removed by ordinary resolution that does not mean that they will decide to act as the fund wants them to do. Difficult situation.

RSI moving above 55 with moving averages moving north too. if we manage to close above 19.25, we could see 24p next. Looking good in expectation of further results which I believe could produce better results (not that past results were not good) as the first drilling at this campaign has produce valuable guidance with respect to the nature and distribution of the mineralisation at APTA which should have permitted the current drilling to be more efficiently targeted. I added more yesterday and today.

Yes. it seems commencement of phase III is late. From the March RNS: "MGC Pharma has received Ethics Committee approvals from Rambam Health Care Campus, Haifa and Nazareth Hospital EMMS in Israel, for the Phase III clinical trial to be undertaken on patients diagnosed with COVID-19".

Thus, part of the clinical trial is to be conducted in Israel, India and Brazil. Israel is going through a tense situation at the moment so not sure if that could have caused some delay. We will need to wait for an update as to commencement of the trial.

Interesting statement from the Managing Director".
""We are delighted that the SIPO recognises the unique formulation of CimetrA, something we believe will be transformational in the treatment of COVID-19 as well as numerous other conditions. The submission of this patent application is an important next step in bringing CimetrA to market in multiple jurisdictions and ultimately treating people and patients on a global scale whilst Phase III trials for the IMP continue”, MGC co-founder and managing director Roby Zomer said in a statement".