Member Info for NickRubens

What happened to Polo Resources stock exchange listing and where are they getting their money from these days?

"fossil fuels will be around for a few more years to come"

Plastics, paints, solvents and many more items come from crude oil. Can't see how the transition to green can happen as it's being subsidised anyway, showing how inefficient cost wise it is at replacing fossil fuel energy. If the future is totally green then only a few wealthy people will be able to afford energy IMO. Countries like Bangladesh would already prosper if they got their vast coal reserves mined and burning away, but i don't know what the stumbling block is over there?

Would like to think someonecan sense something is coming, perhaps Iraq news on Western Desert Block or more likely the Merjan oil-field.

Haven't kept up on much news here as I've grown old holding this stock, though did get fed up at Clontarf and sold, wondering if I should revisit there but no Iraq interests in that company, just the Ghanaian ratification saga, though they added a Lithium project a few years ago

Seems to be a fair bit of volume today. Looks like some biggish sales to me? We're in a terrible bear market which does reflect real economic difficulties in the real economy, such as extraordinary food and energy price rises and interest rates have only risen to 5.25%, not anywhere near real price increases.

It's difficult to know if many shares are cheap or if it's only a matter of time before many of them go to zero ( especially AIM and smaller company stocks).

Lots of announcements over what looks like nothing much important really?

In my experience it would seem that AIM companies ( and also main market) make more money taking shareholders money from them, rather than making profitable money selling their products or services.

I don't know what to think about Music Magpie, keep looking at it , but then see all the garbage I already own and wonder if I'll just be adding to a load of awful stocks that I bought expecting recovery that never happened and sitting on 99.9% losses at best. Can't sell as broker commission is more than the value of them, so I just wait for administration etc.

If I could ask HedgeHogarth, what are the expectations for the full year results?

"This was floated just 2 years ago at 200p a share. "

Dropped in value by nearly 95% then?

In general, who 'buys' these flotations? Who 'sells' on these flotations? From that we can work out who the winners really are perhaps?

Is there a sell being worked for someone? Larger than usual size? Painful to see this SP decline, though I've experienced many share price drops myself and all the way to zero.

Meaningful and necessary profits are one of the most difficult aspects of a business to achieve and many companies will string along shareholders and banks to keep going.

Where is this going medium term and can it survive (hopefully prosper) without a fund raise down the line?

From what I can gather, he's implementing cost cutting savings? The company is still forecast to make around £95m operating profit this year. I've added a few shares at this level, looks cheap though not sure what will re-rate them, though increasing turnover/profitability would help at operational level rather than always cost cutting which can't go on forever. Bit of a punt as a takeover is possible also.

Bought 10000 shares a few minutes ago as I expect Christmas will be busy,as I can't think of anywhere else for the usual last minute rush for low price interesting and good range of products/gift ideas as usually found in the works stores. To me this could be potentially similar to CARD in terms of recovery but needs post christmas momentum and ideas also.

DYOR though, I'm going to be optimistic as I just bought a few and may add on momentum or even sell on fear I got it wrong.

I keep looking in at this company and it's clearly struggling but surviving and limping along. Talk of hoping or suggesting financial year 2025 will bring in more blue chip customer orders when markets are expected to recover.

I think the 'market' was hoping for better and I don't know what needs to be done to turn this around to what looked like better days. Listed company since 1988?

I've been looking at this but never bought as alot of what I have bought is equally painfully dissolving away in value and with each continued drop in SP I have said to myself 'it's even better value now, so I'll hold' and I've held many until zero (suspension-administration). ie I struggle with cutting losses.

No words of hope, but just to say we're all most likely in the same boat irrespective of which shares we own. My only tactic that has saved me from even more losses is I've been lucky a few times with some SP gains in a matter of days and I've sold (takes courage to sell in seas of blue). If BWNG make decent profits and can grow these profits, then this SP matters not as that reality will bring a huge SP gain, but how are they doing in this tough retail environment is what one needs to ask and research and are there any debts that need servicing?

"Taxation of £4.7 million and Dutch windfall taxation of £2.4 million"

"Due to aggressive taxation imposed by the Dutch Government on gas production during the period, the Group suffered a tax liability of £5.8 million partially offset by £1.1 million movement in deferred tax (2022: £4.7 million) plus an additional £2.4 million windfall tax liability. The imposition of this windfall tax reflects the high quality of the assets in the Netherlands and the strong operating margins achieved."

Is this good?

Moniman "I think it was probably a mistake. Maybe BT were chasing for an unpaid phone bill and the message got mixed up?"

lol but it actually does sound more plausible!

Caesar - They own Tano 2a block in Ghana, 60& CLON, 30% PET. Been waiting on ratification for a very long time!

One week in early talks, and just week later not intending to make an offer. I wonder exactly what was discussed and concluded so quickly.

Interest in PET also and price risen last few days, so maybe it's the Tano block 'ratification' due ( years ago I know) news or speculation of news coming.

Clon moving also recently, so have to guess maybe Tano block happening at last? I know it's hard to believe, but if we get a ratification ( after all these years) then it's going to be big news for sure and the market will react favourabley.

Yes cheers Fleccy, I hear you, it is as you say up to now at least, and yes criminals like to use it, so perhaps you could say it's a currency backed by 'criminal activity' and I don't know who I mistrust the most? the government and BofE or the other? :-)

Fleccy, "even if it went to $100,000 I'd still argue it's worthless." Isn't that contradictory though?

I know where you are coming from, however you can't un invent Bitcoin now as a kind of storage vehicle and perhaps a 'confidence currency' for when FIAT currencies are forever devaluing against real things themselves. It's also almost like prices of art and a type of digital art in itself, though not sure there is anything to see?

I suppose FIAT currencies now will now need to continue issuing a higher interest rate for holding it.