Member Info for Miner1

Thanks aiminvestor.

I tried to pretend I didn't lose much, but the truth is I lost quite a lot, but not nearly as much as many seem to have.

I put the cash into Ithaca which has been shooting up and pays 11% dividends.

Good luck to all who kept their nerve and didn't sell. I hope it works out well for you

Has MET1 gone bust? Has it stopped trading?

I am relieved for myself because I had a fairly big stake in MET1 before I sold. At the same time I feel sorry for everyone who has been caught out by whatever has happened. I don't know what has happened. Can someone enlighten me

I'm sorry about MET1. It really seemed to be something good

That it's beginning to come off the bottom

And had to stop?

Or has it?

There are no open short positions on record at the moment

James . are all your buys the reason why the sp keeps dropping?

I think it's been ignored

MegRS300

I can't fault your maths but I think I would have probably lost a lot more had I stayed. I'm not relying totally on the dividends on my MET1 cash. I've moved cash around to maximise my dividends and I've bought into a company that I has been doing very well for me recently. I hope my plan works.

All my shares are in ISAs. I've been adding the maximum annual amount to that pot regularly for years so it's now worth a reasonably sum, especially when you add in the increases in share values. If I cash in any dividends it's all tax free income. The same goes if I sell any shares to spend the money on anything. It's tax free. There's no capital gains tax. It's the beauty shares ISAs

Thanks 4PetesSake. I hope I won't. If I'd stayed I'd have lost more than I did. I've shifted other money around to cover the loss as best I can and I'm hoping that my new investment will perform in future as well as it has in the past.

You seem sceptical.

You don't know what funds I have to invest or have invested to be able to cover my losses in MET1,

or that there is an oil company that pays 11% in dividends

I have invested in an oil company that pays 11% in dividends

LTI

I've just sold my MET1 shares for 4.6p.

I sold at a loss because I originally bought them at just under 6.5p. I was never one of those who bought at 50p and watched while their shares dropped tremendously in value. They have my condolences.

I may buy back in at some time. If it actually turns out to be a real company doing good business rather than the scam it currently appears to be. I still like the story, provided it's not a fairy tale.

In the meantime, I've put my cash into an oil company that pays 11% in dividends, so I should recoup my loss on MET1 by the end of next month.

In dividends alone.

Puzzled Pete.

Many thanks for your explanation.

Fortunately for me I bought in at just under 6.5p. I've now sold at 4.6p, making a loss that I can absorb.

I've reinvested the cash in an oil company that pays 11% dividends so I expect to recoup my loss on MET1 by the end of next month in dividends alone.

If MET1 turns into a decent investment I might buy back in at some point

Cheers

Could it drop to 2p, or 0.2p, or even 0p in the next week or so?

Slow learner,

Speaking for myself, I greatly appreciate your efforts to inform us and improve our understanding of what is going on.

Very Many Thanks

LTI

The closing sell price is 4.35p and the buy price is 4.4p. Does that men in your parlance the prices are actually 0.435p and 0.44p?

I don't understand why that should be the case.

LTI.

I accept what you say. There is a lot I don't know and I'm always ready to learn, even though I'm in my 9th decade on this planet.

Your substitution of 0.04p for 4p foxed me. I have difficulty in understanding that because, as far as I know ,the market takes just about everything into account in setting a share price.

Incidentally, I have said several times on this board that charts are purely historical statements that can only tell us what has happened and can't tell us what is going to happen next. However, I have great regard for trends because, in many instances, established trends tend to continue into the future., unless something happens to disrupt them. That is why I sometimes say, "Follow the trend".

Thanks msuk.int.

I can't say I understood the graph

It seems I need to go to lessons to learn about the more technical aspects of investing

PP.

"The chart shows the share price now. But behind each share is only 1/10th what was there beforfe the scam - ogfffset by the tiny £3.4m raised - equalt to 0.4p per share"

Right! Let me think about this. The chart shows the share price now. Surely, that depends on what the market knows, including the facts behind the price?

Hence each share is now priced at around 4p, not 0.4p. My dealer's site currently has the price as 4.42p sell and 4.5p buy with a midprice of 4.46p which is what my dealer's chart shows. If that doesn't take account of recent events, perhaps I need to find myself a new dealer? And the same might apply to everyone else. We all need to find ourselves new dealers who will sell us the shares at .04p a share. Who do you suggest?