Member Info for MrMagic

Heart10_5 - "but do you feel there will be another placing to keep the co afloat until revenue comes in , your buy of 15.5m got hammered by a 30odd mil sell and a few others . To invest here is very HIGH RISK" Those sells have been happening since end of June as someone (or a group) with many shares steadily exits. Regs here don't want to talk about why someone would be so desperate to bail out at this juncture with all this so-called great news imminent. They just harp on about buys, not sells. I believe that seller to be highly significant but each to their own. Don't expect an answer regarding your views on placings, another no no topic for the rampsters. Common sense imo tells you another will be forthcoming and personally I believe that's why the seller or sellers have been steadily exiting. The annual report shows the massive gap between Revenue and Outgoings. The money has to come from somewhere and a few barrels of oil from LM#20 isn't going to bridge that gap. DYOR.

Massive volume ? lols A tiny % of the total share issue. I note another 25m quietly exited (@ 0.028p) Crew fooling no-one here imo.

32,535,371 sold for 0.028p. What's the betting it is the same 30m bought first thing this morning? Seems there are either people out there constantly hoping that each piece of "jam tomorrow" news will create a quick spike, or perhaps they are just trying to generate buying momentum where there is none to speak of. Rampsters continue to flood the board with news articles and sound bites but none of it, not one iota can hide the issue of Revenue vs Expenses. The last Annual Report is a must read for the facts: http://www.northcoteenergy.com/wp-content/uploads/Northcote-Energy-Annual-Report-and-Financial-Statements-2015.pdf

Figures from Annual Report Revenue - $841,000 vs Other Administrative Expenses - $4,3m Key Management Remunerations - $808,000 How is that gap going to be filled this year? Anyone? Jam tomorrow does not pay today's bills sadly.

50 million ! lols. So a full half a percent (0.5%) of the total 10 billion shares in issue ! £15,000's worth ! Markets not impressed with today's news then

Honest view, it's future potential not actual, so at this stage, just more "jam tomorrow". A Letter Of Intent is not a binding contract, it's not a contract at all, it just sets out the groundwork for further negotiations. So, at face value, yes, it has the potential for those negotiations to take place and for there ultimately to be a concrete deal/contract. That would be great news ! What the terms of such a contract would be though, can only be revealed once the contract has been negotiated and agreed which will be some time way into the future. That in part, imo, is why the markets won't and aren't reacting to this news. None of the vital info investors would want are there yet such as costs, revenues, deal terms etc etc. Instead the RNS contains a lot of typical "AIM speak" such as: "It is intended that" "it believes that" "have the potential to" "we believe it will" "if successful, we believe it will" I'm not down playing the opportunity at all, just highlighting that it is just an LOI and there is a long journey or distance to be travelled before any tangible cash rolls in from that opportunity as per the RNS: "Progression from LOI to a legally binding contract is subject to the completion and full commissioning of the Facility and all appropriate permits being in place" In the meantime then, we are back to grass roots reality here. A reality which I posted about last night and to which no-one has answered my question. The Annual Report (to Dec 2015) stated Revenue as $841,000. It also stated "Other Administrative Expenses" as $4,300,000. That's a massive gap between revenue and some of the outgoings/expenses. How is that gap going to be filled this year? It is this reality which keeps the share suppressed imo. It is this reality which leads people to expect massive dilution and placings. The company has already diluted shareholders massively this year, increasing share issue from 6bn to 10bn with discounted placings, and seen the SP plummet from 0.1p to 0.03p. The last placing was over 3 months ago. The markets I suspect have a view of what is coming.

How does one quote the future exactly?!!! Not hard to predict it though. Company showed a $6m loss for the year as at Dec 31st 2015. Has already increased share issue since then from circa 6bn to 10bn, SP tanked from circa 0.1p to 0.03p. In the Annual Report revenue was stated as $841,000, Other Admin Expenses stated as $4.3m. That's a rather large gap to fill wouldn't you say? No ramping or deramping here, just cold hard facts from the report. How do you propose the company will fill that size of gap THIS YEAR? Genuine question.

"The gas at SC is worth a multiple of our market cap" Based on test results . . . . lols take with a pinch of salt imo. Current MCAP is approx. £3m but that will likely drop on the next placing imo. "Other Admin Expenses" for year ending Dec 2015 were $4.3m or £3.2m so those kind of costs as well as salaries/remunerations have to be covered before you can start talking about real profit or value for shareholders imo. I would wait for actual gas production figures (as well as all costs) before making any assumptions and if those go the way of LM#20 actual production figures then we won't find out what they are this side of Christmas !

earlier today. 2,898 shares sold for 84p. Rumour has it the seller decided to buy a first class postage stamp so he could actually get something delivered with his money !

Keep asking him Labratt. He's simply peddling rumours and hoping that if he says it often enough, people will come to believe it. These are desperate tactics for stock promoting. A company should stand on its own through its fundamentals. The "wink wink nudge nudge" brigade show themselves to be the least confident of all the "investors" here. Had they one iota of confidence in the fundamentals they would sit back and watch the success stories roll in, not be on a BB 24x7 posting 10-20 sound bites per day ! LSE Admin should be all over this shameful rumour mongering.

Orslega - "I have been asking further questions about Shoats Creek after last weeks RNS; I am getting answers but I cannot post them here because of LSE rules" This is a rather meaningless statement TBH. The company can not tell you anything that would be deemed price-sensitive. So anything you have been told is not price sensitive and thus largely immaterial imo.

Wasting your time with Orslega, can't be taken seriously imo. Anyone constantly perpetuating rumours comes across as rather desperate and does the company a disservice imo. As you have noticed he won't tackle the real issues or talk about overheads vs income, admin expenses, salaries and the like. Very strange for any genuine investor.

"Lots riding on their ability to deliver something tangible" The SP won't go anywhere imo until the company cuts its costs. Anything tangible delivered by way of cash will just be viewed as going towards admin expenses, salaries and the like. Last year (to Dec 31st 2015) it expended over $5m in remunerations and "Other Administrative Expenses" or about £3.7m. MCAP is currently about £3m. Instead of waiting for some project to deliver value, people should be looking for an announcement of company wide cost cutting measures imo.

Rachelsdad - "If I didn't know I would guess he was on a bonus for every de-ramp he make" lols you might want to think that one through. Shares like this don't need to be deramped, they deramp themselves purely on performance, on lack of income, on CEO actions, mass dilution and SP decimation. The charts and facts don't lie. Who would pay money to deramp an AIM diluter? It would be like paying someone to go and convince the public that they are paying too much in taxes, utterly pointless. I rather think your focus should be on those relentlessly promoting the share, averaging 10-20 posts per day, every day. What kind of employer would be happy for their employees to sit there watching share chats boards and news sites all day? Hmmm

"..Sometimes difficult decisions have to be made " lols You mean like : "where are we going to get $808,000 from for management remunerations?" "where are we going to get $4.3m from for Other Administrative Expenses?" I'm sorry but you can't be taken seriously. If devastating placings HAVE to be done, then the company is not being run well at all, and certainly not for the benefit of shareholders imo. The March placing raised £450,000 via issue of 1.4 billion shares at a 33% discount to the SP. The key management remunerations alone last year were $808,000 or circa £611,000. So that placing could have been avoided totally just by curtailing those remunerations until such time as the company was able to turn a profit. Yep, must have been a really difficult decision to shaft the shareholders instead of the management.

Blingy - "I think all can agree that the company is now going through a change in both direction and board members" The only change I would want to see is drastic cut in costs, overheads, salaries and administration. I haven't seen much in the RNSs concerning that, just project after project, well after well, most of it "jam tomorrow" and not much in the way of RNS detail concerning real bottom line revenue. All the waffle about possible BoD changes, gas tie ins and future deals isn't going to change fortunes here imo. They can throw out all the PR they like, but if they go to the confetti printing machine and issue another 1.5 billion shares whilst still expending $millions in admin expenses and $00,000s in management remunerations then it will simply destroy sentiment further and keep investors away.

What difference does it make to NCT what the SP is when they drop the next share issue Peckham? In March the SP was trading at 0.06p, then dropped to 0.0475p and then NCT announced a 33% discounted placing at 0.0315p. So long as they get the funds, they clearly don't care what happens to the SP imo.

"25,000,000 shares looks to be about £7500 at 0.03p" At bid price (the only price that matters) of 0.027p they are worth £6750. He's already stated he has lost the equivalent of 30m at current SP which is approx. £9000 and that his current 25m are 70% down so that equates to another £23,000 invested. All told it sounds like he has put approx. £30,000 in here and now has just 25m left worth around £6,750-£7,000 . . . .if my maths are good. It's a crappy deal whichever way you look at it and yes, there is always some emotional attachment to shares that you've been in for some time and put a lot of cash into. What doesn't help people in such situations is relentless ramping of those kind of shares because it just gives people a false hope that a company or CEO will suddenly change its spots.. I've been in that situation and in the end just thought, sod it, I will just leave what's left in the share until it's worth nothing at all, in my mind it is already written off. As you say £7,000 is a reasonable sum of money to many and perhaps could be used in other shares to try and claw back some of his losses. He would need a 3 bagger somewhere though to recover the whole investment.

I would imagine Spikeyj, that like so many people who have been done over on AIM, he is so far down that it just makes no sense to sell out for the pittance that is left. You may as well leave it gathering dust. This does 2 things. One it leaves the faint outside chance that one day an AIM company might turn around and let you get a little more of your money back and two, by holding your shares you reduce the volume out there that is available for trade. A share price needs volume and if a company treats its shareholders poorly and dilutes their holdings then if everyone sitting at a significant loss just hangs onto their shares and refuses to sell, then the share starts to stagnate. Andrew Bell of RRR nicknamed such people "Stale bulls". Some companies typically just keep issuing more shares in the hope that "new blood" will come in to pick up the reins so that they can then "rinse repeat" the whole dilution process and keep pulling funds in. The more they do that though, the lower the SP drops on each dilution and hence the term "death spiral".

"their entire post would appear to have little validity." On the contrary, a review/analysis of how far this share has fallen and how many billions of shares continue to be added is extremely pertinent and appropriate at this juncture. The company has high overheads as clearly indicated in the "must read" Final Results recently posted. Key management remunerations are also high ($808k last year). Investors sitting on huge losses likely need a miracle to recover the position and the problem is that the $millions needed for "Other Administrative Expenses" and the management remunerations have to be covered before you even start to think about profit that creates "cash in the bank". It is imo a fools errand at the moment and imo will only change if the company drastically removes those overheads, curtails salaries, slashes costs right the way through and puts any available monies towards revenue generating ventures. There is no doubt in my personal mind that a another placing is coming but that is my personal view which could be wrong, but which is based on yesterday's RNS and my observation of the seller (or sellers) rapidly exiting in the past month at low sell prices some of which were around 0.026p levels. Add to that the relentless promoting here, silly rhetoric, sound bites and basic ramping 101 terminology and I don't need any further convincing. The March placing was done at circa 33% discount to the prevailing SP. Worth considering what a 30% discount would be to current SP and what that would do to the SP going forward. Imo it would see the SP go sub 0.02p. In the end you have to DYOR. Ignore the twaddle on these BBs, be disciplined to only go by the official info released via RNSs and other formal media and never ever believe that a leopard will suddenly change its spots. On the other hand if you feel lucky then by all means follow the ramping 101 merchants cos there's "something brewing", a "re-rate is coming", the "train is about to leave", have a "cheeky top-up", the "buys are disguised as sells - naughty MMs", it's gonna fly, it has multibag written all over it . . . . . GL whatever you decide