Member Info for Montmuzard

Absolutely: there have been times in recent months where you couldn’t get a quote even for a few million, so that gives me some confidence. I have pondered reducing my exposure a bit the past few days, but decided against: I would be more gutted if I sell at a loss only for TR1s to start coming through, followed by mets results and next-stage financing, than I would be if I lost it all.

The greatest risk here is still in my view missing out on potential massive upside. Some of the options are set at nearly 40p post-consolidation, so someone has confidence that we will get there. Even a 50% dilution from there would leave us multiple bags from where we were last week, and if it’s the key to opening up the (even bigger) asset we could be on the home straight. I’m holding, and may even add some at this price to round off my stash at a clean 500 multiple.

My response to Teaye - where I noted I could seemingly sell my entire holding above the bid, so wouldn’t be surprised if we ultimately see some big trades reported after the SP has been held down here - was also removed. So I’m not surprised that a 26m buy has gone through and bet there’s more to come too!

I’ve been in touch with HL today and they have confirmed that all EUZ holdings with them are in a nominee account and will be consolidated collectively regardless of how much individual investors might hold.

I've got the same question as Steadfast: does anyone know the answer?

A couple of friends of mine invested (small amounts) here after chatting to me, and I'm really not looking forward to having a conversation with them about their shares being potentially liquidated at this low level, when part of the reason they have under £1000 is because of the drop in value. But, given they're in HL, and presumably in a nominee account, does that mean HL's shareholding is seen as one block, so everyone will get consolidated, even if they have under £1000 as an individual in their own HL pension or whatever?

FWIW, I have a decent chunk of shares at a reasonable average, so am minded to keep holding: even if there is a 50% dilution later in the year - which, let's face it, it looks like there will be - if that means we are then heading towards the endgame, it should still release multiple bags from that point. But, there's no doubt LR is drinking in the last-chance saloon now.

Sorry Grappa, always a tough decision but understandable why you've reached that conclusion. I was there with SXX last year myself, and glad I did sell out as it went to more productive places. But, the influx of deramping over the past couple of weeks and loose Nomad comments combined with large buys, only for said 'voices of reason' to suddenly disappear once they've scooped up their treasure, seems too fishy to me. My average is okay, so my paper losses at present are some way under 50% (realise that, relatively speaking, that is a fortunate position to be in). Holding for the endgame personally.

@Bobby - Possibly, but then why did we see a flood of trades today on no news, when most days it's like tumbleweed? I find it hard to believe that dozens of PIs had fill orders set at 0.0015, although I'm happy to be proven wrong. If they did, though, it shows that there's still a degree of confidence somewhere. If I had spare cash, I would be buying more at these prices.

It seems to me that dilution is off the table: impossible to see how that would happen now without a sustained rise, and that would only happen in the event of good news (which would potentially make such dilution bearable). The most interesting bit of the interview was when LR was asked about discussions/financing and you could see him think for a moment, before choosing not to answer. It seemed like he was tempted to say something or a give a clue, but can't, which makes me think something is going on.

Plus, "The Longer Game" appears to be bashing EUZ again on Twitter, which is always a good sign in my view. I have two rules when it comes to him: 1. Whatever he says, think and do the opposite. 2. If in doubt, see rule one.

So, the NOMAD hints to a PI that "dilution is inevitable", some PIs panic, the price drops, and suddenly there's a massive influx of large round-number buys. Hmmmm. There's no doubt that communication is questionable and everyone has legitimate concerns about financing, but this seems just a bit too convenient to me.

Yeah, my understanding of Sansar is that it's just a cartoony VR rendition of Shangri-La (which will be a bit weird to anyone who has wandered around there in a pickle at 5am) with the gigs screened at different places within it. So, the performances themselves will still be 2D on rendered stages within the virtual world. They're not actual VR gigs like MVR's. Agree with others that it's all good news to have this stuff running the same weekend: free publicity etc.

I don't normally buy into '1' codes, but it feels like today's price shenanigans might be signalling something.

@Untold - I hear you, but there's no worse feeling that getting twitchy, cashing out at a loss to chase something else, and then the big one drops and you're locked out. TBF, the BOD have indicated at various points that the data room is open and discussions are happening: NDAs would preclude them giving any details and that in itself is a good sign IMO.

Sorry, last post should have said @Kelso

It's just the decimal places: HL can't display hundredths of a penny on your account, only tenths. So, when the SP is between 0.017p and 0.026p it will show as 0.02p. Once it goes up to 0.027p then it will start showing as 0.03p, and so on. None of it has any bearing on the actual share price: you can test the value of your stock by doing a dummy sell which will show the precise SP. Hopefully we'll be over 0.1p before long anyway and hundredths of a penny will be a distant memory!

@Bricks - Yep, I'm increasingly suspecting that the very fact the silences are now so long indicates that they are of the comfortable variety.

That's my feeling too. It comes down to how simple those involved want the transaction to be. The London High Court ruling may not have a direct impact on those in Mozambique like the Velosos, but it would be a concern for any major: there's no way a firm like Kenmare (for example) or any other UK-registered company, or indeed any Chinese firm that has lines of finance running through London, would want to move ahead with developing the site without that being cleared up. The easiest way to clear it up is to bung PFP enough millions to satisfy its major shareholders, which, in the big scheme of things, is small beans. My guess is that this will be resolved sooner rather than later, and the outlines of the deal are probably already pretty clear to those involved in putting it together.

I'm not even getting a quote for a cheeky £300 topup.

Ha ha - I immediately put Sky news on while working and wondered what the fuss was about :-)

I'm agnostic: happy with a sale, since cash in the bank to redeploy elsewhere would be handy, but I'm definitely not in the "sale at any price" camp. I'm happy to hold if we have the chance of a JV that genuinely opened up bigger long-term value.

Happy, also, to accept the wisdom of the board that nobody is shorting EUZ. Although the post where I raised that as a possibility that may explain the appearance of our deramper seems to have mysteriously vanished. Interesting...

Obviously not advice old boy, but if I were in your position I would be looking at this as an unrivalled - and possibly quite short-lived - opportunity to get that average right down as close to a penny as possible. DYOR, GLA etc.

So essentially what we're hoping for is those 350k to be scooped up quickly, with news dropping and the MMs caught short, forcing a quick gap up to the 1.70s? Sounds good to me!

Great post Wayne. I meant to say this the other day when people were discussing potential takeover prices etc. One reason I hope there isn't a takeover any time soon, aside from believing there could be a much bigger pot of gold waiting at the distant end of the rainbow, is that I genuinely believe in what this firm is doing and am happy that my money is working to help realise it rather than just being stuck in a share I don't care about in a transactional kind of way. If it's the real success that we all hope it is, I'll take a huge amount of satisfaction from that.

So, as nice as Apple or Facebook giving me 50p/share might be, there's a large part of me that would feel a little deadened by it, and I can't imagine easily finding another company to reinvest it in that I would feel quite the same way about. I'd rather stay on the journey for now, and see where we end up.

I know you're not supposed to get emotional about shares, but I personally consider that one of the worst tendencies in the way our current economy functions is the endemic short-termism, lack of patient investment capital, and constant need to satisfy "shareholder value" instead of just building great companies over the long term.