Member Info for partridge

I don't think the YA and Riverfort stranglehold on the debt here will sit comfortably with C4Energy. They will not want to be doing the mainpart of the work for the benefit of a third party. The £831,000 raised recently was a gross figure and net, was less than £800,000. Mr Parsons does not come cheap and his compensation will be eating into that figure daily. The recent final results for the year ending June 2019 shows little cash and lots of costs. More cash burn. With the ongoing trip to Australia to try and sort out the pending court case more costs will emerge. Expect a new cash raise in the spring and an attempt by C4Energy to get a stranglehold on that debt.

Both the new guys, parachuted in from C4Energy, are shareholders in C4Energy but not Nuog. Perhaps investors should follow their lead and reduce shareholdings in Nuog to zero and instead become shareholders in C4Energy.

Sorry. The two new guys are shareholders of C4Energy and not directors. That honour is reserved for Mr Parsons and Marco Fumagalli. My bad.

Remember the cash raised each time is the gross figure. So the £500,000 and £420,000 might only be £450,000 and £380,000 net. No details are given. Don't worry your pretty little heads. And the two new directors who are parachuted in from C4Energy, a company in which they are both directors, will not come cheap. Maybe a compensation of £1,000 per day. That's £60,000 already. That cash is dwindling fast.

Nonsense. 10 trades today. Total value less than £9,000. Your post might be misleading naive investors.

I don't think the 13th January 2020 placing is material to the Sound share price. What will be interesting is any names attached to the subsequent TR-1, if there is one. Revealing the quality of person the company has been dealing with. Both recent cash raises have been anonymous. Will there be a name attached this time of are shareholders still being led up the garden path?

" an additional 530,030,036 shares (the "Subscription Shares"), representing obligations of £145,758.30, have been issued to Red Rock Resources Plc in full extinguishment of outstanding obligations".

I'd be surprised if these shares were not sold in the near future. Cash in hand must be of more use to Red Rock Resources plc than shares. Why the loyalty? Gambling on the future of an unreconstructed model with plenty of uncertainty. Take the cash on the table and look after your own shareholders. That's your function.

No grey area. Price sensitive information is price sensitive information and needs to be reported to shareholders as soon as possible. You must be thinking of horse racing.

I think you are confusing the closed period and price sensitive information. I think you can deal in the closed period, with permission, but you cannot deal at any time when in possession of price sensitive information. That applies to everyone whether CEO or teaboy or however you received the information. Such information as the law suit instigated by the JV partner which was only revealed at the meeting on 23rd December 2019.

I think the aim of C4Energy is to acquire the debt of the company. Not delete but acquire. As has happened at Nuog. Was it Greenberry at Sound Energy,Echo Energy and Coro? I suppose there is a common thread between these companies. Perhaps, the debt of a company is where a fortune is to be made. YA PN II Ltd and Riverfort Global Capital appear to think so. As well as RGM, they are involved with such luminaries as AAOG and Angus Energy (and others). The interesting point is that since the cash raise/debt restructure here there has been no RNS stating that C4Energy has bought any shares. Debt is good. Shares is not good.

Then why do it? You're probably right though. That would also explain why the CEO buys his shares at the 2.75p issue price rather than market price and why no other directors have bought shares and why wiley institutions are filling their boots and why there is a need to delete negative posts by the bucketful and why the CEO is going down under to prevent a court case escalating. All good in my opinion.

I think someone is missing the point of " locked in". It is done for what benefit? Because management realise that the share price is going to fall and is trying to prevent a flood onto the market. "Locked in" should come with a wealth warning. It is saying " these people didn't want these shares and are going to dump them as soon as possible". Expect the expected.

In the 2nd October 2019 RNS the statement : "The subscribers of the Proposed Placing have been introduced by representatives of C4" . Expect no different this time. If I said how I think they will make a profit then this post would be removed.

https://www.guerillainvesting.co.uk/2019/10/23/nuog-hans-christian-andersen-the-emperors-nu-clothes/

You might take notice of: " If by now you haven’t worked out the implications then let me spell it out. You’re starting a race with a handicap. You can never beat the corporate flippers because they have a 50% head start with access to the news flow. If today you were 20% down on your stake bought at 0.075p they would still be 30% up. It’s a race you can never win".

Mr Parsons repeatedly said that production (of gas) was not in his DNA. Discovery and development for the small players, leaving production and bringing to market for those with deeper pockets. In the spirit of rinse and repeat he will be intending to do the same with Mambare. Talking about potential. "The big boys looking over the fence to see what we are doing". This is the future for RGM shareholders. A mixture of hope and hype.

I suppose for your punt to work there are plenty of failed bets from last Thursday and Friday. Enjoy your trade.

The 2nd October 2019 RNS raised £500,000 for "short term general working capital purposes". Today, another £420,000 is raised in order to "strengthen the Company's balance sheet and liquidity position". How much are these people paying themselves? Do you know? Is the cash burn £500,000 every quarter? For a shell company. Startling! Pass me a sour grape someone.

Would the shares have been issued at a lower price? There are likely many more shares to be issued here. What happens next time? A lower issue price? People won't get fooled twice will they? Bear that in mind before getting suckered in here. I know. I will be accused of sucking lemons. So what?

Sorry, my bad. There were so many noughts involved I think I went number blind.

Over a decade of involvement with the flagship Mambare. And how is the development going. The pilot plant has been tested on the one ton a day scale:

" The DNi process has been tested for over a year at 1 ton per day test plant scale proving its commerciality and preparing for its use at Mambare and other lateritic deposits ".

And " processing operating costs of US$2.00 to $3.00/lb" estimared.

And " Planned DNi Process commercial plant to produce up to 10-20,000 tonnes per annum of nickel in concentrate".

Small amounts. At $7/lb is it commercial. I thought Mr Parsons would go looking for a second rate asset to introduce here and tout it as world class. Now I'm not too sure. I think it is already here. No outside interest for 10 years. Can you here the waves crashing?

That guy on here complaining about the bitterness. Where is it all coming from? I get it now. It is the taste in the mouth after the likes of all the shenanigans of the past few days. Well spotted!