Member Info for MartyPoppins

OK. So I am back to where I started.....Intetesting but pointless roller coaster ride so far.

If investors think this share is suffering, have a look at IPF. Down to 90p today (off top of my head, from a year high of about 250p). Yield is currently a ridiculous 13% assuming no cut!!!! Investors expecting Polish and Mexican businesses will collapse ????? No idea, but since basically ALL of this company's earnings are in FX, any collapse in sterling will boost reported results considerably. Truly blood in the streets here ATM - still trying to figure out why.

One of my more significant holdings (GNK) has just gotten taken over at a 50% premium. The Big Boys owning SLE should stop p***ing about (as with this '10% of holdings' lark etc.), offer minority holders a similar premium and we can finally all go home happy (or, for some, less miserable). The huge losses suffered by LTHs are unrecoverable - any remaining LTHs should be happy to finally take the bullet, get out of the share, and leave Nigeria (a place they never intended to be in.....) behind forever.

The only issue would then be what share everyone should move to so that they can continue squabbling?

Still zero interest in this company despite the price trend for gold, a fully-funded drilling programme in an excellent jurisdiction, and significant backing from both Sprott and AngloGold. Bizarre - investors happy to gamble on SAGA and MTRO but not this.

Opened up the AAOG board to see if sensible views were being taken on the company and its propects. Alas, investors still expecting a 500%+ rise in SP despite past events. Investors can hope, but history tends to repeat itself - especially with the same person in charge. When we see a change in senior management (eg. to one able to pick a drilling company that can perform basic duties, in a market where reputable competent drilling companies are willing to work for almost nothing) we might see a change in share performance.

Have averaged down a few times but no more - this is turning into a money pit and management have lost so much credibility there will soon be no buyers on good news.

AdoubleUK,

When it comes to foreigners, Africa is a place for young and not old people. It's the law of the jungle there - you look vulnerable or weak, you will get eaten. Lived and worked in Africa for over 10 years across about 15 countries (including long months at Port Gentil providing services to Shell. Back in 1992 - another life!!!!). But no plans to go back. Africa at 56 is not the same as Africa at 29. You might have had a great time back then, but it would not be the same if you returned.....So just enjoy your retirement.

Muddy Waters is famous for destroying firms. It desroyed Noble in Singapore, accusing the company of 'accounting irregularities'. Noble hired PwC to do a detailed review of its manner of accounting and no irregularities. Nevertheless the company went into liquidation. MW later produced a short report on a US mining company saying that the mind face was about to collapse (.......difficult to say given they had never visited the mine !!!) and the company was about to run out of funds. The share price eventually fell by about 70% but the MW report proved to be false - nothing collapsed and the mining company is still in business. However the shareprice is still a fraction of prior levels.

MW is the worst of the worst.

The past is the past, but to present a previously-£4 share moving from the 20's to the 30's as a sign of strength is insane. It's more a case of management trying to haul themselves back into the boat - any boat. Good luck for those who bottom-fished at 23p, but that comprised about 1% of the PIs. As shown by the lack of number of posters on this board, most investors gave up on this share long ago - and so, it's as if LSE donated a private LSE discussion board to about 12 investors (or even non-investors - who cares....?) carefully divided into 6 anti-SLE posters (long term holders) and 6 pro-SLE posters (more recent holders). A case of WWI again - the trenches are dug and so, despite frequent skirmishes, we all move nowhere.

I have now bought 2 tranches since the collapse. The company certainly has issues and risk, but a 'cheap' (up for discussion if FRES is cheap - 'cheaper than last week' might be appropriate) PM play in the sector is difficult to find ATM. Despite the seemingly good economic figures in the US, the world market is very jittery and Trump continues to kill any potential upswing with every tweet he writes. Time for gold and silver to shine perhaps?

Legacy issues include a lengthy suspension from trading due to management's inability to comply with even the most basic of AIM requirements. As long as this management team remains in place there, will always be a high level of risk. The fact that they moved to Nigeria - basically the only environment in which they feel comfortable doing business - speaks volumes about their modus operandi.

I have my sell trade instruction firmly in place at breakeven. It was previously only a few pence away from market price - howeve, as Mr Kuti has noted, the gap between current price and desired selling price gets larger with each passing day.

".....this company has a well balanced risk/reward ratio compared to 90% of its piers (sic)...."

At what price? If at the current price, what were the 300 posts endlessly pushing the share at 10p?

CJ,

Contrary to Eroton's MD, the OF acolytes here have already decided that losses of 20-30% are immaterial to operations, so that finding an alternative route is (to them) a non-issue. They prefer to concentrate on the Very Important Matter of whether or not you hold shares in the company.

It's disappointing that, just as other PM stocks begin to finally rise nicely, FRES collapses. A number of PM stocks have now become expensive (see the US markets especially, with PM shares exploding upwards) so that it is difficult to find a reasonably entry, especially given that the price rises are based on commmodity prices that can turn downwards in an instant. LT, the FRES collapse might provide a rare exception - the current price will provide a reasonable purchase point and should be expected to rise if silver continues its upwards momentum long term. A rising tide (price of silver) lifts all boats and FRES now has a lot higher to rise just to get back to the same levels of its peers.

A,
Fair enough - if you say that a loss ratio of 20-30% together with a lack of infrastructure is wholly unimportant to opeations, then they must be wholly unimportant. I did suspect that Mr Emafo was talking through his hat when he expressed concern - these local MD's really are rubbish, aren't they?

"I'm not interested in 50% gains...." That's to 7.5p!!!!!!!! Why would anyone who has been invested here for more than a month and has more than half a brain be happy with a price of 7.5p? People here now proclaiming victory as the 'bottom has been reached'. Typical goldfish memory to ignore the prior price collapses and pretend that everything starts from today. It's the same company and same (mis) management team with the same inefficiencies, same lack of trust, same lack of communication and same enormous admin and remuneration costs. New investors might do OK but I hope long term investors have not been averaging down with each (frequent) price fall. Anyone who has more than 1% of their share portfolio in AAOG is a lunatic.

Given the MD of Eroton is so negative, who needs shorts? Perhaps PR is not their strong point.

BYS,

Not sure I agree with you ('NO classic recovery stocks') - the market is really twitchy ATM and some stocks are collapsing on little information ( mild downward guidance, or even 'results as expected'). In many cases, fundamentals remain fine and/or investors immediately realise there has been a massive over correction. Just in recent times I've had at least 4 shares bounce back 60 to 300 (...)%. On the less stable ones that are driven by sentiment until actual physical success (O&G, biotech) the most important factor is knowing when to sell - ie. a 40%, 50% or 60% gain is fine, you don't need wait for 100%......

In the case of STAF if I buy in at 120, while getting to 240 would be fantasic, a rise to 170 is also fine, and I would take at least SOME profit at that level (how much would depend on company progress but usually about 50% of the holding) - the first thing to learn about AIM : Greed is not good.

J1,

Still in 2 minds about EVE - mznagement is doing almost all the right things it seems (shame about revenue) but at the end of the day - overpriced mattresses?? Anyway, you don't go from being a hugely loss-making company to a profitable company in one year (especially with revenue not increasing for 6 months) so yes, funding will probably be required within 12-16 months (if not sooner).

PT53,

Thanks - normally I'm told that I'm a clueless ****......