Member Info for PatShare

@ antlev - thanks, yes honest, just not very lucky! Not yet anyway, will keep trying though. One day....

@ mannnan - 10p, brilliant. Where IS he? Who cares?!

Selling below a penny this morning (target achieved TF), but still a load of very small buys on the board, what is that all about?

I managed to lose a few £'s here - twice! Not my finest moments but then I've not had many of those yet, still learning the ropes and trying to find a strategy that works.

All a bit half-baked, much like the ready meals available here :-)

Interesting to see that some are still buying in, not sure what they're expecting to happen when this de-lists on 22nd?

Some very odd i.e. small quantities too, very odd.

@ Truthfactory predicted 1p prior to de-list, looks like he might be right.

@ Latorre1690 @ Skippysb01

Thanks, yes that does make more sense now, I knew I was missing something.

I think we'd all still like to know what they were doing about getting another rig between the unsuccessful drill in 2021 and Russia invading Ukraine at the end of Feb '22 though - if they'd had a rig lined up before the Russia/Ukraine conflict then the fund raise post-AGM would have been easy, or easier at least.

Hindsight again, it's a real pain in the .... !!

Well I don't know, this all seems very odd to me....

The fundraise/issue of 200,000,000 shares was approved at the last AGM and advised on 14th March. The SP prior to that was 10.4p then fell back to 8.4p on 14/03 when the news came out. The SP then recovered to 11.52p on 18th April and was still a healthy 10.8p on 6th June.

Why didn't DM & Co try to do the fundraise then when even a 25% discount to 10.8p would have netted them £16 million?

Or am I missing something or just not understanding the nature of AIM exploration company fundraising?

Probably.

They haven't approved or begun the 'further buyback' yet, when they do it will be RNS'ed then further RNS updates as the buyback progresses, at least that's what happened last time.

I have nothing spare to invest here at the moment but if another holding comes good (BIG IF!) then I might be able to sell something to have another dabble here. Only time will tell.

Watching with interest though.

I still agree with you TF despite my novice investor mishap.

Cottage pie in the face anyone?

..... are the gift that keeps on giving!

Magmanus & neil are genius because they manage to be both brilliantly hilarious and yet frustratingly annoying at the same time!

@ magmanus - I may be a terrible investor (no, I mean SERIOUSLY terrible) but I am rather good at English and being able to type coherently. What's your excuse?

Thanks guys.

Hi TF, I don't feel so bad here now about only losing a few quid, has almost been worth it for the entertainment value alone.

Now posters starting to shout 'fraud' and 'corruption' - hilarious. What did they expect?

Hopefully the Asset Matching facility will provide a lifeline to some here, for others hopefully not, deserve all they get .

Or maybe not, guessed that wrong too!

Mental note to self - don't give up day job!!

FWIW, surely all the results of the AGM will be notified by RNS in the morning, and not before then?

Good luck to anyone left holding here tomorrow, what the future holds for this is uncertain, and that's for sure!

Hi Leedsman, thanks, nice to know my updates were appreciated.

Nothing to report yet, they still need to obtain shareholder approval before they go ahead with the further buyback, if indeed they decide to.
I'm no longer invested here but keeping an eye as I find this particular stock quite interesting, and seemingly safer than most. Whether I'll do the updates again if they do go ahead will depend on how busy I am at work, we'll see.
I may re-invest if they do as that should hopefully push up the SP and could make a few quid here with any luck.
Cheers, Pat.

@ blubay - can I just ask, why do you say 'cash balance is as expected, in the region of $10m' when the RNS clearly says they only (only? get me) have $4.9M left in the bank?
Or have I missed something?

As something of a novice can someone tell me how anyone knows how many 'available shares are out there' please?
I keep reading comments like this on various boards and just wonder how anybody is able to see what is or isn't available in the marketplace.
Anybody?

Morning Bergcarls
I agree, probably about as safe as it gets, certainly compared to other companies I've gambled my money with :-)
20p sounds about right from memory although we still don't know what came of their CTH investment, still invested or took the 750p that was on offer? If they did it would have boosted the coffers a fair bit.
If you are saying they want to buy shares back - effectively at a discount to current NAV - does that mean DBay/LDG believe there is a much greater future value to this than anyone else thinks?
Hmm.... Interesting.

*LDG are loaning £15.9M to TopCo.

DBay loaning? What was I thinking?

Hmm... does that mean TopCo would have to pay LDG interest on the 'loan'? Probably.

OK, now I've read it a few times and done some digging..... I'm still none the wiser really!

The way I read it, DBay are initially loaning £15.9M to Synsion TopCo, the private holding company of the Synsion Group formed by DBay, which TopCo will then invest in SQLI, the pan-euro digi business, that in turn is already 72.3% owned by the Synsion Group and thus DBay.

The initial loan will be converted into an 11.1% equity stake in TopCo then subsequently a 9% stake in SQLI, thereby increasing Synsion Group holding in SQLI to 81.3%.

I'm certainly no expert but the waters seem very muddy here, or is that just me?

Regarding the proposed buyback, not sure about that either; I can't recall exactly what happened last time, but I do know it didn't really achieve its objective of closing the discount to NAV, although it did a bit but then fell back as we all saw. There can't be any guarantee it would work this time either, although I suppose any lift in SP would give holders the opportunity to exit at a fair price, again. Or a few brave souls might make some money during this period.

I don't think I will be one of them as I have nothing to invest right now but will keep watching with interest in any case.

I think what I've learnt is not to trust anybody, just stick with my own belief and it'll either be right or wrong.
Whether Truthfactory is a con-artist or not we will never truly know, I still can't blame HIM for MY decision to sell, I was already getting jittery about my tiny holding anyway.

Every day a school day, as they say. Learn and move on.

Good luck all, and hey, let's be careful out there.