Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
@ Spikeyj
You are just going to go on all night aren't you?
I understand you are upset that your investment here is showing a loss, but this is the position now. What's done is done.
Look at your investment, if you genuinely believe it is going to get worse from here then sell up and move on.
They have done.
https://ir.q4europe.com/Solutions/mxoil2019tf/4000/newsArticle.aspx?storyid=14205788
https://ir.q4europe.com/Solutions/mxoil2019tf/4000/newsArticle.aspx?storyid=14296480https://ir.q4europe.com/Solutions/mxoil2019tf/4000/newsArticle.aspx?storyid=14335396
Do Your Own Research.
They've done at least 2 placings between then and now, one to the sheik which brought in around £800,000, and one via Primary Bid.
Seeing as they aren't in Carey Street, I can only presume they have settled,/partly settled or arranged terms.
@ Spikeyj,
You do realise you are quoting from the Final accounts to December 2018.
ADM Energy plc (AIM: ADME), an oil and gas investing company quoted on AIM, announces its audited full year results for the year ended 31 December 2018.
As each lifting is producing circa £600,000 net profit to ADME, I ain't too worried.
@ gilogilo,
How can you possibly be invested here if you don't know how the company earns money?
Go to ADM Energy's web site and read the Announcements for 2019.
Skip the 'Price Monitoring Extension ones'.
http://admenergyplc.com/investors.html
Yes the sheik left, and with a profit, but his £534,000 went into keeping the company afloat, and it enabled the later placing at 16p to raise £500,000.
The company has used the proceeds of the liftings to date to pay off the debt, and is going to be cash flow positive from Q1 2020.
So the outlook going forward is sunny, we have a ~6.4% interest in
P1 proven reserves 82.4 mmboe.
P2 proven + Probable 138.2 mmboe
P3 Proven, Probable and Possible 220.8 mmboe
Cash already pouring in but being used to pay project level debt.
From the 13th lifting, which is anticipated in Q1 2020, the Aje investment is anticipated to generate material free cash flow for the Company assuming continued stable production and no change to capital or operational expenditure at project level.
Well you lot were all confident after the placing @ 16p a fortnight ago. Now because the Sheik is dumping his shares you've all turned into doom and gloom merchants.
The stock is less than half the price it was a fortnight ago, with no real change to the business as far as I can see.
It is possible the sheik has reasons to sell other than an undisclosed problem with the business.
In at 7.125
14 automatic trades at 16:29:54. Looks like an attempt to bring the price down to me.
Why would they do that I wonder?
You're correct, they don't particularly want to flow a deep well, and they haven't got the infrastructure in place to move the oil from more than one deep.
Wait for the pipeline to be put in, then all of a sudden 4 or 5 deeps will start flowing and a production licence will magically appear.
Well supposedly legal action was started months ago although not progressed for 2 weeks RNS 24/5/2019.
Should this legal action be in court by now?
Courts publish lists of upcoming cases, does anyone know how to find out what cases are coming up involving SML.
Both showing good growing results. Things in the East will probably settle down and a deal worked out, it is what both sides want , all this is just posturing in an attempt to get a better deal.
Seems more to do with the trade between USA and China to me.
Are these not the Prismatic Supercaps W, S and A Footprint series available for sale on the website?
https://cap-xx-store.com/