Member Info for MrMagic

"guessing"? How long has LM20 been producing? Why are you having to guess?

lols. I see 9 paltry trades today that's all, and 3 of those are under £350 ! Sounds to me like a bunch of unscrupulous posters desperately trying to generate momentum. I personally believe an RNS is coming due to the "7" code trade I highlighted yesterday. I doubt the news will be game changing so I haven't bothered to clean out all the jam jars because of course the jam is only ever needed tomorrow !

Yep, 4 years ago I was much less savvy about boiler rooms and BB crews. So what?

"I don't" Obviously. Why then do you persist in making statements about who is and who is not a shareholder when you have no way of knowing? I don't declare my positions on public BBs, there is no need to do so and I would deem it foolish for anyone to do so. My holdings are my business, no-one else's.

Orslega, on what basis do you claim to know whether any poster is or is not a shareholder? The truth is you have no idea.

And believing that a company that engages in discounted placings won't keep on diluting, is like a man who stands in a bucket and tries to pull himslf up by the handle.

The fact that 8 months down the line you are having to ask that question instead of having sales figures tells you all you need to know imo.

Anger and frustration are entirely justified by holders who were hit by the 2 huge discounted placings. Management should not feel that they can continually get away with such practices. The company should exist for the benefit of its shareholders, if not, it should delist and become a private entity. Sadly AIM is awash with BODs who don't care one jot for shareholders and see them as a money making machine to be perpetually milked. I hope NCT does not turn out to be one of those.

Some believe in MM trade signals. I note the 7000 trade this morning.

"why would anyone pay nearly £0.25M at a 30% premium for 6% of the company?" Rampers on the RRR board said the same things about various "significant investors" and they all came to nothing. Danial Sklan once owned 10-11% of RRR which was dutifully declared. He also struck a private deal in regards to the original Ivory Coast project. Years later the SP has been diluted to oblivion via "death spiral financing" and 2 capital reorganisations have been done in the space of 12 months. There were others, who declared holdings above 3%. All have come and gone. The latest, the greatly touted Paul Johnson of MTR bought just over 3% and then shortly afterward the next discounted placing came along and presumably diluted his holding below 3%. The moral of the story is that in companies that dilute, the appearance of "significant shareholders" seems to mean diddly squat. It's one of the few cases where one does not "follow the money" but rather one follows the stady increase in total share issue and where the funds raised actually go to, imo.

Orslega - "There are some very large buys at both placings trades" There have equally been many large sells too but I note you don't mention those. 25m @ 0.032p 20m @ 0.0263p 33m @ 0.0265p 33@ @ 0.027p The drop in share price is not imo AIM lethargy. It is due to the fact that once a company makes the decision to issue billions of shares at significantly lower price to the prevailing SP, thereby shafting existing holders, you destroy sentiment, you destroy trust and loyalty and you effectively kill volume of trades. It's a game changer. It turns a share, imo, from being an investment proposition to being just a city boy traders share which will be spiked before each subsequent placing. Heck the shares are now worth less than 3/100ths of a penny !! The promoting of one project/venture after another, as labrat points out, is absolutely typical of BB pundits of AIM shares. They just hop from one speculative bit of jam to the next, conveniently ignoring and brushing under the carpet all the previously ramped speculations which fell by the wayside and failed to realise any value for shareholders. Few are fooled these days by this rinse-repeat cycle.

Orslega - "MMs looking for a bit more action....but holders pretty much sitting on hands waiting for news (sensible imo) .just £3K worth traded today" lols ever the maker of excuses Orslega. There is no volume which is imo because the last 2 discounted placings have killed this share. I would guess that PIs are now fearful in case they are holding when the next one falls. Some holders who sat through the placings will imo be hugely down so it's just not worth them selling, they will sit tight in the hope that a spike or other event occurs to let them out with something. I note also you persist with your "wink wink nudge nudge", jam tomorrow comments. e.g. "there will be a far more interesting initiative to get your teeth into soon" "wait till he gets the news I think is coming," "no worries, the decks will be cleared pretty soon" Jam jam jam jam, placing, jam jam jam . . . .

"If they can get 60/80 bopd from LM19 plus some gas for circa $60/$80k that is a better bet than spending circa $800k for 200 bopd and some gas." So again, why did they plan to drill LM21/22 BEFORE doing LM19 in the first place?

If LM 19 were so good why didn't the company plan to re-open it way back when LM21/22 were announced? Why plan to go to the trouble and expense of drilling 2 new wells BEFORE reopening a well like LM19? Our attentions are being diverted towards LM19 and away from the delays with LM21/22.

"do you not think at some point a company could have sufficient revenues after investing the funds raised in previous placings in its business plans? " Hmmmm let's recap March 23rd "Northcote Energy . . . has raised £450,000 via the issue of 1,428,571,429 . . . shares . . . the proceeds of the Placing will be used for general WORKING CAPITAL purposes and to fund certain growth initiatives" April 20th "a placing of 1,587,301,587 . . . shares . . . to raise gross proceeds of £500,000 . . . which will be used to complete the Mayan Drilling Fluids remediation plant while retaining adequate WORKING CAPITAL . . ." One thing I have learned quickly on AIM and that is that shareholders never get any tangible value from money spent on working capital.

Jackal - "We are undervalued, all history aside. I've air ed my views on the dissatisfaction of the dilution and for now I'm happy to leave it there unless more comes." How can you be "happy" while ever that discounted dilution cloud hangs over the proceedings? It can't be ignored. It won't conveniently go away. One has to address the issue head on, accept why it has been done and then look to see if revenue streams are being created to prevent the need for further dilution and share value destruction. Until detailed revenue figures are published, who now can believe that there won't be more dilution? As for value, I think the regular crew on every AIM BB I read reckons their stock is undervalued. Trouble is most of those stocks are regularly issuing shares like throwing confetti at a wedding and the reg's just refuse every time to factor the massively increasing share issue into their valuations. No surprise there of course. Paid Brokers equally conveniently choose not to factor in the future share issues in their sensational Broker Reports with their fantastical future target SPs, targets which of course never materialise because of that glaring omission. Beware imo, anyone who offers a stock valuation by totting up the value of each asset or investment but who doesn't then factor in how many more shares there will be in issue by the time those asset values are realised. Jackal - "it will be some cannot move passed the past and that is dangerous if they are looking to recoup paper losses." More dangerous to ignore the past and believe that the past will not repeat itself. On AIM stocks the dilutive aspect seems to repeat with monotonous regularity ! The maths is simple. Either a company has sufficient revenue streams to meet its outgoings or it doesn't. If it doesn't you have to expect that it will issue shares.

"Is it a buy or a sell ?" Who cares? It's statistically insignificant. 0.25% of the total share issue.

John8833 - "Yes but I now realise the rise in sp is not because of a leak but due to orchestrated buying by a group,of rampers." That would be my guess too but it's pure speculation. An abject failure by any measure though. Just 17 trades today and 5 of those were under £1000. For a company with over 10 Billion shares in issue the volume is pitiful. Dilution has killed this imo.

Just look at the crew working this like a set of working girls ! So utterly predictable what is going on

Jackal - " there is no way we can be valued at below £3m. The reason for that is due to the dillution and putting everyone off from investing. The RP alone is worth more to NCT than £3m I would have thought?" Ah but there's the rub ! It's only what YOU think. The reality can not be ignored and it is worth a million views of ordinary punters and trumps every time the "jam tomorrow" rhetoric of the BB crews. If the company were worth what you "think" it is, then why are there not large investors queuing at the door to hand over cash in exchange for a share of the company? Why is NCT going to the likes of Cornhill to perform discounted placings which the BOD surely know will decimate the value of existing shareholder's holdings? That's the reality. Investment via Cornhill at discount. Everything you personally think the company is worth is irrelevant imo. Ignoring the reality is a sure way to lose lots of money imo.