Member Info for partridge

Yeah, right. The clock is ticking. End of the first quarter for the Mambare update. That's the flagship if I remember correctly. For what it's worth I think it will be delayed. That's Mr Parsons MO. The legal proceedings, the exploration of an alternative JV structure, probably a minority interest. Mr Parsons will leave the bad news hanging until any news is acceptable. Current market conditions make anything other than hard cash acceptable as collateral. A cash raise must be imminent. Not good timing. That's the problem when you trade in bluster. The cold wind of reality blows it all away. Desperate times. The doctor will prescribe a ramp. Self isolate, sit on your hands and keep your money in your pocket.

It's OK. I think everyone realises in a bear market worthless shares are impossible to sell without collapsing the share price. It will only get worse. The doctor needs to prescribe another Twitter ramp. A sale today might appear very astute in a fortnight. Or Smiffy could buy more based on a rumour someone overheard in a email sent by someone in..............

As an alternative view I would say that nothing changes at Ascent. Don't under estimate what is going on today: a collapse in the oil price ( not unusual but very large) but at the same time a word downturn and subsequent fall in demand for commodities due to corona virus. There is a lot of uncertainty. Mr Parsons is not one for hard work. The assets in Slovenia are problematic. Next door to Italy where all new exploration is ceasing. Maybe Slovenia next. Slovenia is not a good place to be. Mr Parsons has brought with him Leonardo Salvadori from Coro Italy. Together they will find a way to get out of Slovenia. What has been happening at Ascent for the past 15 years will continue to happen. More cash raises in placing and loans with eye watering interest rates and second class assets. Mr Parsons knows what to do. Don't believe the publicity machine on Twitter or blogs or interviews or news stories. It is being developed on an industrial scale at Ascent, Regency Mines, Coro and Echo. And at Sound Energy, although any trade has been deleted there. For obvious reasons. Mr Parsons likes to clean up. Now is the time to be in cash. Keep your money for yourself

Don't know what inspires me most: the double negative from the Mesiah or your trading history. Feel free to wipe the smile off my face. I really hope you make oodles of money. The lesson from your success appears to be : lose loads of money and then make it back again and start all over again. You are a seasoned investor. A new investor might take on the lesson that if you are only going to get back to where you started ,why start? Heads and brick walls come to mind. Best of luck.

You accuse people like myself as having multiple identities. Are you sure you're not Dickbat?

For new investors the £1,000,000 loan RNS'd in March 2017 has a 12% coupon. So interest of £120,000 a year. £360,000 paid in interest in three years. In today's zero interest rate climate it is certainly worth hanging on to it. But Greenbury, the original providers, didn't think so as the loan is now with "Spartan". I wonder if that loan was moved on with a nice profit? Don't forget the " 5% commitment fee" as well. Uhhmmm! Nice.

Couldn't get much better. But wait. Don't forget " Greenberry is to be granted 1,538,461,538 warrants, with 113,078,411 warrants granted at the time of Admission and 1,425,383,127 warrants following approval from the Company's shareholders". Even after the 1 : 25 consolidation that's over 60,000,000 shares. And a warrant price of 3p. I wonder if they went the same way as the loan? But don't worry there was a six month lock in. Where there's a lock in there is a will to sell. Of course shareholders approved.

This RNS contains everything that is wrong with this company and every other Parsons/Fumagalli company. Incestuous relationships between all involved. Echo, Sound, Coro and soon to be Nuog, Recency Mines and Ascent Resources. Their failure is written in the smallprint. Not for the management but the small shareholder. That loan could have fetched millions.

https://www.investegate.co.uk/independentresources--echo-/rns/board-changes-investment-open-offer---name-change/201703060700095455Y/

https://www.guerillainvesting.co.uk/2017/11/30/ascent-resources-clive-blames-6-week-shag-6-years-failure/

https://www.guerillainvesting.co.uk/2017/11/30/ascent-resources-clive-blames-6-week-shag-6-years-failure/

So the figures you are quoting are in the next annual results or the one after that?

And the cash in hand is falling inspite of all the sales. Suggests costs of sales and administration fees are too high. $1.4million is not much when drilling. It is not difficult to see why the loan was not paid back - £1 million is the same as the cash in hand. Leaving zilch for paying salaries. The company will need to raise cash.

Was it because I mentioned the two recent cash raises by the new management?
Was it because I mentioned the two people parachuted in by C4 Energy are shareholders in C4 Energy, the holder of the debt in Nuog?
Was it because I mentioned that one of the new men used to head up Aminex where the share price was eroded over his tenure?
Was it because I mentioned that one of the new men is CFO at Coro, where Mr Parsons, the chairman, is a director of C4 Energy?
Was it because I mentioned that the director of Novum Securities, Mr Charles Brook-Partridge, took a 3%+ holding in Nuog and sold just 3 days later? Exactly like two other people.

Be careful. It is new shareholders whose money is required. These people pay themselves very well.

That's a gross figure. What is the net figure to the company? Where do you get your figures for current expenditure and administration costs? Could you post them?

The fervour of early morning has dissipated. Where are the people who've heard rumours? Were you sucked in? Someone has probably made a little money. Is it really worth it? Seedy. Some people should be ashamed of themselves. Stop trying to get the naive investor to bail you out. Man up, and sort out your own mistakes. There is another cash raise on the way. More dilution. More decline in the share price. There is no value or substance in this company. Unless you are on the BOD gravytrain.

Tweets being retweeted. Just what the doctor ordered. Or is that Mr Parsons? There is a need to get the share price up before dumping the bad news bomb. Don't let yourself become a long term holder. Your money should stay in your pocket or it will end up in theirs.

Look in the annual results for administration costs investing genius. And those fingers in pies are listed under liabilities. Where do you do your research?

It is a company with no revenue and £2,000 a day administration expenses. Probably £3,000 a day now that Mr Parsons is on board. They have legal proceedings taken against them by their JV partner in Australia and need to find millions to rescue that deal and be involved in its progression(if any). It needs to fund its "plug in" in downtown Southport. The shares have no collateral as payment because they are falling in price (50% fall since December). Only saving grace is the stake in Curzon and the stake in RRR. How are they doing? That's why some might consider a cash raise imminent. Add on the fact that large holders want to sell shares at the nearest opportunity ( lock in ends March) and you might get a hint of desperation on the cash front.

Hhhmm. You're probably correct. The wrong interpretation could lead you, or others, to lose money. I offer an opinion as to why you are wrong. My posting history is there for everyone to read. There's nothing hidden.

Be careful about assigning any significance to the large 2,600,000 transactions as it looks like someone rolling over a 20 day settlement period.

The " issue of 39,958,443 new Ordinary Shares in the Company " and the end of the 3 month " lock in" of 50% of those shares in part payment of the acquisition, could be weighing on the share price. When there is a lock in there usually is an inclination to sell.

Don't mention elephants. This one is a white elephant which can be lit up when it's dark. Cheap energy from the peaky blinder in Southport. Take your mind off the JV and legal proceedings and the looming " discussions include exploring various alternative JV structures, including a re-framed JV arrangement". There could well be an imminent cash raise and a reduced stake in Mambare. The latest "lock in" of shares held by the large shareholder is ending in March. There is a propensity to sell.