Member Info for Moleinahole

Cheesie this is a slow burner. The main dynamic is a low number of tightly held shares so it can move up on low volume with light volume. However, most holders are here for 2 years time or beyond. So this is an important additional step on that 2 year journey. It shouldn't drop the price! But it's an important step in the right direction.

Why bomb worth more dissolved than trading.......

Sefton resources....unhelpful predictive texting!and NWOG?

In suggest you look into who they are. This looks like the same associates involved in section but it may be a coincidence of course......if so share prophets will be onto this.

Today's RNS is the final nail in the coffin on that one then. With no production and no ongoing exploration they need to sell up. Question is whether thye have the acumen to get any sort of deal for the cash and if so at what discount. Back to Sound with an offer if they have any sense.

More likely being acquired as its one less liability on the balance sheet......

100% agree with the next direction. Maybe a steady rise but I see a rise here which is why I'll take up my offer shares and try and get a few more. What I'm interested in is whether say TD waterhouse with a large number of pooled shares in the nominee get to share out the shares released - so if they have punters who don't apply the unredeemed open offer 1:20 some extra are available in a "closed pool" or whether its all on a one by one basis passed up to EMED to resolve. Decisions and I'm offline monday on a business trip to Germany which makes it even tougher.

Its going to be a case of do you over-subscribe and hope to get near what you wanted or will they match the small requests and scale back the large! Hard one when the broker wants the cash up front for what you apply for especially if you need to trade something to free up cash! Any recent experience here on an over subscribed offer from anyone?

Whats the consensus on the offer then? Only a modest holder here and I usually like to participate in placings to support the company and maintain my holdings. TD seem to be allowing transfer out of ISA to take the offer up in the trading account. The completing of the book build is v positive - and the price has risen today to reflect that. The prospects also look good and I think the management have done an OK job here (we could easily have been wiped out completely). Will take the 1 for 20 but wondering now how over-subscribed this may be and if so how they would scale back? May need to raid the piggy bank to fund or sell something else.

The value destruction here has been monumental. Your view will depend on your entry point. I noticed the extra target that kosmos have identified. Either way the company is now 100% reliant on kosmos and to keep the licence look at the small print on the licence around exploration drilling. With low oil price and lack of infrastructure off Ireland this is a longer term play. I hope that this does result in a rerate at some point I have left a very small holding. I reckon their days in the oil business is numbered and they will be taken over IMO.

That's about right. But look at the bit about Fyne and Erne they look dead no mention of the partner on fyne have they thrown in the towel with the low oil price? Still burning cash at 800k a quarter. The revaluation is a windfall and dresses up the numbers. They are simply waiting on Ireland now. Can't see they could buy anyone and they threw away the SOU offer what a monumental error that could turn out to be. So the strategy is to wait for an offer and hope skelig comes good when kosmos do it for them.

I have had a skim through the release now. The open offer is a tough one - unless the share price moves substantially to increase the premium on offer - its a pretty mean offer ( there's no rights to sell or warrants as a reward for loyalty). You could participate if you want to support the company - but they don't seem to need the money from the offer - the big 4 have stumped up. As its now pretty much equity funded the dillution effect seems pretty significant. Its probably a necessary evil the way its been done - but the small holders were never going to do well once the large players got hold of this. Smarter guys than me will be able to crunch the numbers to see where we will end up - which is surely now tied in with the profitability of the operation. Debt free with guaranteed off-take is a big plus. Its now very much at the mercy of the copper market but with an additional large stake holder in place that should ensure that the interests of the offtakers is not over-baring. As with alot of these complex deals its difficult to see where the share price will end up as there are a number of factors in play. Higher than here is my guess but not as high as it could have been. The additional placing will also be a good barometer of what other instititutions make of it. Lets see where she settles tomorrow - the big 4 look to have done very well out of it and the PI's if you hold long enough may get to share in some of the profits down the line.

Usual jam tomorrow and the new strategy of let someone else do the work. It may come good before the cash runs out but not due to the managements efforts. Fyne does not sound like it is moving and skelig waiting on kosmos. Given the oil price one would think the offshore activity will take a while to progress. With hind sight they were. right about the commodity swap hedging but the timing was out by a year which has really destroyed value. Combined with the bad luck on the drills in the past they really are taking the mickey running up the general expenses. Hard to see how they could buy and develop an asset prior to further reduction in skelig interest. I would not vote to re elect anyone on the board. I still hold my original destroyed investment here.

Or a consolidation and rights at the same time? Either way alot of money needed however you frame it but not in the context of the assets in hand. One would hope a rights issue open to all. The prospect of that with 3 big sharks in the water is enough to put off PI's after the drop post license of the last year. That combined with the overal global economics - the resources sectors have taken a proper battering. Its hardly surprising that people arn't queing up. Then you have what's happenned to shareholders in some other miners recently. I don't think that's the case here - but the general environment is enough to supress the share price I would suggest.

Alberto alluded to this earlier in the week so the good news is that it seems to be the better of the potential reasons for the RNS this week. Complex tricky negotiations with the three parties. Hopefully share price can start to recover well done to anyone brave enough to have added this week could prove to be a great trade. They are obviously doing well this the mine work and this should be the moment momentum changed.

Tracylied - you could be right its very hard to tell whether the decimated share price is PI driven or the big 3 pushing it down. It may be that the low price suits them even if they are not actively doing it. Either way we know when we should expect the next announcement - but he is not giving much away. Maybe we are already in a period where an average price is being calculated to fix a deal price and this is a hint?

That's a hard one to read. They are either very close to the deal and just did not quite get it over the line so wanted to advise everyone (presumably they do not want to be seen to breach and covenants or trade with an uncovered operational cash deficit (although not really insolvent) hence the announcement in next week?). Very hard one. But it does sound like the 3 main investors are expecting alot hence the current decimated share price. We can't do anything and have to trust our leader is doing the best he can for all shareholders.

Steel I think the wider problem is the inability of growing companies to access finance from banks or other traditional sources post the 2008 credit crunch. In spite of QE it is not happening and has not helped those lower down the tree. That is what is leaving so many companies on aim so vulnerable to what has happened here. Given the involvement of IFC here it is particularly dissapponting. Combined with the decline in demand for raw materials from the downturn we have fallen into the clutches of redbird. I'm out like other large holders and invested and doing well on other targets.

So sorry for you my friend and at 33p I also weighed up the exit and like you trusted the board would reward in the long run. This one just did not work out. I do think the organised shorting of this share did irreparable damage and bares some responsibility for the current situation. As Mr Spock would say LLAP.

Well I decided to sell the ones I had left in the ISA yesterday - final straw for me was that I would no longer be in control of when the deal would go through and it is certain you could not hold in an ISA. So tha'ts it. Like the others who have held for many years this feels terrible - but since selling and re-investing and having already recouped a good amount with the left-overs I feel better already inspite of a 50% loss on this last tranche - that as its in an ISA I can never get back to offset. I had hoped I was investing in a company with some morals about it that was helping develop Mozambique and its people in partnership with IFC. About a year ago something with the company changed and ever since then I have been watching with growing trepidation the fate of small companies in the iron ore sector. They lost their way and I don't think they have ever recovered from the organised shorting attack from 2 year ago which left them totally reliant on Redbird. It is a real concern to me that long term investors are left in tatters while the fast money prospers on AIM. I do no believe that is a healthy market to foster long term growth and value. My loss is 250,000 shares worth at average of 19p which are now all in the Redbird bag. I personally would have continued to support fund raisings in the future. Redbird simply does not seem to want even large PI investors to participate. We are not really welcome at the top table for this one!