Member Info for partridge

What has happened today? Do you know? I hope new investors haven't been reeled in.

RRR have sold a million shares.
RRR sold a million shares last week.
Today RRR received just 2.5p per share. That is less than the 2.75p placing price of only 2 months ago.
Today, only 2 months after the 2.75p placing, the company has had to agree a partial release of lock in of 7,789,091 shares owned by the major investors.
Today no price was given for the placing of those shares. RRR receipt of 2.5p would be a good indicator.
Today no name of who the shares were placed with was given. No TR-1 will be issued for those shares. I'll let you into a little secret; the new investors will want to remain anonymous. There is a pool of 7,789,091 shares, bought cheaply, that small shareholders will have to compete with. If you bought today at 3.5p they bought today at 2.5p or less. A 40% advantage.
Today large shareholders have sold. The company was pressurised to allow them to sell. Why? Two months ago everything was rosy. Best buddies. Haven't they heard of peaky blinders and Southport? The sure thing. Kerching, kerching ,kerching. Haven't they heard of the world class Mambare asset? Two months ago RGM had a 50% share. Is that still true?

Something isn't right. Today should be a warning.

The last time someone gave the nod that a few million shares were going to be sold a concerted effort was made to pump the share. And look what has happened today. Do people like being manipulated? Be careful not to buy too many of these shares. A couple of million and you will be down at 2.5p. No mates rates for the naive investor.

There is persistent selling going on here. A need to get rid of a lot of shares. No amount of bottom fishing and bargain hunting is going to stop the fall. Choose your price at which to get locked in carefully.

Concentrate on what is going to happen, I will. Discussions in Australia :

" the partner had already initiated legal proceedings against the Company which resulted in the Company receiving a letter late on 20th December informing it of the proceedings".

Shareholders will be informed by end of first quarter about what is going to happen with Mambare. RGM came back with its tail between its legs and told to explore " various alternative JV structures, including a re-framed JV arrangement ". Expect a minority role at Mambare at best and probably the need for cash. The company will know there is no joy down under. It will assuage shareholders with talk of peekers in exotic places like Southport. The IRR on these will be swamped by the need to raise cash and issue new shares. Shareholders will not be told this until it is too late. The company needs to raise the share price. It needs your money or the situational will be unmanageable. It cannot release the poor Mambare news until you spend your cash.

Sorry. No idea who is selling. People are still buying. Got to hope it is the 60,000,000 rather than the cornerstone investor (180,000,000+). I favour the former. Today was a high turnover. I think it will fall further.

https://charts.moneyam.com/Chart.aspx?Provider=EODIntra&Code=CORO&Size=620&Skin=BlueWhite&Type=2&Scale=0&Span=YEAR1&MA=&OVER=&IND=VOLMA;&COMP=&XCycle=&XFormat=&Layout=2Line;Default;Price;HisDate&SV=0

There could be 60,000,000 of these babies to go. Been in 500,000 lots all day. Now 2,000,000. The gloves are off.

Why would a company take shares at 2.3p and sell them at 1.3p? Madness? Or is it that they believe the asset is not worth the price it was sold at? Milo Minderbinder eat your heart out.

Sorry wrong chart.

https://charts.moneyam.com/Chart.aspx?Provider=EODIntra&Code=CASP&Size=620&Skin=BlueWhite&Type=2&Scale=0&Span=YEAR10&MA=200;50;&OVER=&IND=&COMP=&XCycle=&XFormat=&Layout=2Line;Default;Price;HisDate&SV=0

https://charts.moneyam.com/Chart.aspx?Provider=EODIntra&Code=RGM&Size=620&Skin=BlueWhite&Type=2&Scale=0&Span=YEAR10&MA=&OVER=&IND=&COMP=&XCycle=&XFormat=&Layout=2Line;Default;Price;HisDate&SV=0

Crucial time for the share chart. Back up to 12p or down to 4p?

Thanks for the consolidation lesson. It really helped. The £2,000 reduced to £1 was based on a share price of 9p+ in 2010 to a share price of 0.0275p in 2019 with the 1 : 20 consolidation inbetween. Plus the 3-food increase in issued shares. No wonder long term shareholders cannot sell and move on. Dealing costs would mean they are paying to be rid of their shares. Only more of the same to come.

https://charts.moneyam.com/Chart.aspx?Provider=EODIntra&Code=RGM&Size=620&Skin=BlueWhite&Type=2&Scale=0&Span=YEAR10&MA=&OVER=&IND=&COMP=&XCycle=&XFormat=&Layout=2Line;Default;Price;HisDate&SV=0

Wouldn't surprise if Brian was taking advantage of the rise. And today is the day when Mr JJ leaves the sinking ship, cash in hand, RSU shares to be sold. And they will be. We will be informed later. Save on multiple RNS's. Can " at arms length" Mr Parsons resist temptation? It would not surprise if he was included in any RNS. Nothing untoward. How can this happen? The compromised, conflict of interest, Marco Fumagalli, is in charge. Anything can happen.

You don't have to look too hard. Press Sou Broker Ratings above.

February 14th is the day the exclusivity agreement ends. News is not necessarily due on that day.

https://charts.moneyam.com/Chart.aspx?Provider=EODIntra&Code=SOU&Size=620&Skin=BlueWhite&Type=2&Scale=0&Span=YEAR1&MA=200;50;&OVER=AreaBB;&IND=&COMP=&XCycle=&XFormat=&Layout=2Line;Default;Price;HisDate&SV=0

BOOM! Just for you Mr JTF. First time in 3 years this share has broken upwards through the top of the Bollies. First time it has broken through the 50 week mva. Target 6p. Ain't this share great.

Interesting consolidation figures:

2000 shares consolidated to 1 (currently) share

Or every £2,000 reduced to £1

What's the opposite of B.........OOM! No wonder the management take shareholders for fools.

I tried to answer a question rather than trying to bully. I think I referenced the example quite clearly. How did it mislead? What you may do is correct my statement by giving a legitimate cost of sales figures. Base it on company figures please. You might want to refer to past result statements.

What's the problem? It is an example from company records. Sales,cost of sales and revenue from sales. Exfoliate for yourselves. Sorry, extrapolate for yourselves.

When there is a clause to prevent selling of shares there is a strong likelihood those shares are going to be sold asap. 60,900,000 shares were issued as part of Duyung aquisition. The sale of these shares prevented until after the 2019 drilling campaign. Tick tock. The value of these shares is dropping rapidly. Itchy fingers. There might be many more that need selling.

https://www.lse.co.uk/rns/CORO/coro-energy-plc-first-completion-of-duyung-psc-acquisition-mt86rm9ow33sh2p.html

Jameseuk, naughty, naughty, naughty. Don't ask such questions. You'll be told to go back to school to replenish your lacking education. In the latest final results the $8.8 million of sales was reduced by $8.2 million of cost of sales to give a revenue of $0.6 million. That's before administration costs.

Was that a 500,000 delayed sale. I wonder who is selling. Boom indeed. Some back scratching going on. Allowed a mate to get out above the 2.75p placing price. Why are people in the know selling? Back to your positions tomorrow and the day after. Got to pump the price up. Your money is required to give to someone else. I'm really panicking. I hear on the grapevine someone has turned a light on in Southport.