Member Info for mogo

-AFE fell below 1p the nominal SP for placings a few weeks ago so recently changed that-the new nominal for placings is now 0.01p-this is getting into range of that ?

then it might be 80% now-anyway no matter,the main thing is the fate of that licence and who controls it in future ?

you know me-I assumed the cunning plan of the BOD was to go through the motions of being a miner in future because it was in fact impossible seeing the maths for AFE to retain independence while doing that.The new BOD seemingly believed their own hype. And didn't try near enough to get buyers.Yes they got the present II's though MP began that process.No II's were capable though of aiding mining being too small.The only jewel in the crown is the Dutwa licence rights about 60% with Safina 40% is that right ? Work has to be done in future to keep that licence though in this climate TZ might be lenient.I'd in fact expect them to take up some rights to pay for any tax liabilities.This is heading for a resolution where the II's and TZ and any outsiders including payment claimants like EW will be in the mix but not present shareholders who might regard their shares as future credits towards CG as per my post -see it..sorry being realistic isn't nice.GL m8

as regards personal effects I've said often rolling forwards CGT losses to some future time when the situation improves is a plan. QE must stop sometime though a body of opinion now says not for a good while as unemployment and austerity a la GO seem ready to continue at least till 2016 lol. So low interest rates might be stuck to though the background US T-bond rates have shot up to 2.6% in a few weeks one of the quickest changes for years.The dollar and the banks are to be preserved by the Fed at all costs even the economy.Don't assume anything is for small holders' benefit.I read many articles but don't trust most info.so prefer to look at actuality.For example what is the present interest rate ? Where is the FTSE100 index ? Cash is king though hardly any interest got-need to protect cash and earn as much as you can towards when you might get into shares at far lower prices.That's all I think I need to know,trusting no one but myself and a few others.

sorry

Agree II behaviour fairly noncholant suggests that a MCap of £1.21m does not frighten them in fact they might hope to profit from it. Internal takeover on the cards ? 1.In the fabled 17p times for example it wasn't on the table being to big proportionately to their assets most II's being medium sized. or medium/small. But it is easily possoble now. The II's external funds presumably remain but their outlay in a T/O is far diminished. 2. The BOD is in disaarray now with the CEO gone. 3. Timing might involve an EGM but awaiting maybe possible Admin. instead. Of course they themselves as large holders are liable to lose in any pence in the £ payout but they'd gain control easily then too. Present small holders would get zilch. 4. a cash shell to ride out the crisis plus getting the Dutwa licences would be the priority.See again how UK football clubs are able to go on in FA membership whiile losiing all debts with fairly the same investors.Yes some sub contracted work needed at Dutwa to retain the TZ Govt. approval. TZ might be sympatheic given present mining redundancies there e.g. ABG etc.

they'd best get a placing through on those new "0.1p nominal value shares" in case the SP catches up with that,then a placing can't be done..

-this seems mainly a trader's share these days,but what kind of traders at 100% spreads the other day ?

finally possession of the exploration licence and farm in rights is it 60% ?-appears the jewel in the crown worth winning,so maybe some plan is in view for that ? It is the trump card.

this is all my own beliefs/hopes nothing I type is gospel obviously.A liquidation.I've met cases of that with companies I've dealt with for services.They went on trading under new names,same directors,all debts written off,creditors out of pocket.A miner would lose all licences of course but might resume business from a cash shell position.All previous shareholders were cast off in these cases...

1. Without getting mathematical,if a BFS completion was found impossible at SP's of above 1p-remember it was effectively delayed or put ahead into the long grass in that timescale,it should be far more unlikely in the case of raising equity from the new £0.001 ( or 0.1p) nominal shares though of course the base SP of any new placing is as yet unknown.. Why ? Well to raise £x millions you need far more placing shares floated at lower SP's. It is more likely a new placing might involve raising capital against winding up costs,payment of pence in the pound to creditors etc. From hearing about football administrations. you need over 75% of creditors to vote for a CVA Company Voluntary Arrangement then to come out of admin. you pay them pence in the £ of debts. Otherwise a liquidation looms. In liquidations shareholders are paid back last in line after major creditors. And there are two claims -EW and the TZ Govt. so far say no more...Correct any of these if needed from my scant knowledge.. 2. Another factor is the SP- if correct here- has hit 0.2p so the nominal now of 0.1p is within range of that,making it again impossible to perform a placing if the SP was below 0.1p... 3. of course the placing should go ahead as soon as possible seeing their rule change has passed resulting in the II's getting a lot more % of the company,in fact they might be near control,then able to get BOD seats and define new policy whatever they want.An internal takeover effectively ?

perhaps a new placing will follow the subdivision ?

see 30 May-a "nice" head and shoulders to end down there ?

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! etc.

a ray of light ? See AFE Monday 09.34...GL

as said elsewhere, the FTSE really needs to slump badly as for the last few years the lion's share of the money has been diverted off AIM miners especially into general shares. The background rate of interest from US Treasuries is now rising** despite the Fed. refusing to raise rates. Housebuilding,bonds and probably the FTSE will suffer if eventual interest rate rises have the effect of the past. After a good-going fall in most shares once QE gets withdrawn we might use carefully saved cash which is king to invest in the much-reduced shares at that stage.Supposition at this stage but it has to turn sometime- (**NB. Not allowed to copy but worthwhile to dig out the official10-Year US Treasury yields chart which I will describe-From June 2012 to April 2013 it was dotting about 1.75% or so.Now it is rising hyperbolically/nearly vertically above 2.5%. Significant ? )

had a reply but least said soonest mended, or whatever..

This in no longer a comp.of how good we are at picking (virtually) better shares,it is who loses the least . Almost any share will soon be down substantially,once our QE safety net gets whipped away by the Fed. At 31.12.13 that will be almost gone .No VPF forecasts can be made on that basis. Except in R/L ,cash will be king for a while. CNE has broken out lower too. There will be good grounds for a better 2015 onwards ? Look at these potentially-JT>DGE,BP Jib-CNR,BAO mogo-AHT,SDY prar-HAS,FGP. Solid ones which might be recovering in a year or so and lasted previous pullbacks. Thanks to JT for his efforts. GL

for my 20,000th I'd like to wish you better investing soon.A slump in the FTSE seems in fact to be the best thing in the longer run.With any cash spare, we might actually pick up some better bargains than we've had for a long time.Anyway all the best ! Save that cash which will be king in the next period,for future actions.Bye to QE.GL

Seems to be disobeying the pattern since April-a reverse breakout..if a large company like this can be shredded what hope for AIM ?