Member Info for PaulJ8520

For info.

I just tried to buy 6000 shares the normal way and it wouldn't execute but after doing a fill or kill order it went through. I'm with HL

Won't let me buy

Anglo American, Rio Tinto, Newmont... I don't think we are in that sort of league. Maybe in about 5 years, hopefully!

Am I reading this correctly?

Lots of problems during December but ECHO's net daily production increased to 1,522 boepd... and now the issues are resolved.

Are we thinking we are now producing more?

Oct 2022

Well dbh... according to the RNS on 13th Oct 2002, the financial issues were resolved; "Martin Hull, Echo's Chief Executive Officer, commented: "This is a very significant moment for Echo Energy. It marks the successful culmination of efforts over recent years to restructure the balance sheet and overcome the financial constraints that have been holding the company back."

Obviously he was not being reflective of the truth then!

It speaks volumes about Lomb-Odier, how investors should avoid them like the plague for sitting back and not calling for an Extortionary General meeting to remove Hull and Parsons.

LO - useless in my opinion, seriously damages their reputation.

Aren't we due a quarterly update this week?

Why would anyone post so many times if they don't hold shares in the company? What is the motive or fascination? To be so determined to put forward a view they are not personally invested in?

In my view this is very strange behaviour.

"think he knows what he is doing"... that could mean anything, including nefarious activity.

We need an extraordinary general meeting to remove Parsons and Martin.

With the current production levels there should be ample profit, but with these two at the helm, there is mention of restricted cashflow... I wonder why?

Clears obstruction to EPC and Financing resolution

I can't see them getting $356 per ton (or tonne) from £35. I just think the board and management have done a really good job getting this company to where it is today and had the right management skills to do so. Now I feel is the time for them to step aside and let others who are more skilled at getting deals over the line which attract current coal prices.

5000 tons per month at current global price gives revenue over $21M per year.

Giving their coal away at a c. 90% discount to today's price... great business acumen... got to love the board for that.

When you add a Billion and a half shares to the existing 185 million (The Scheme proposed by the Company), the market cap will look significantly different, or the price will collapse.

Also there has been a reduction in daily boe/d.

Perhaps it would help if there were non-execs on board???

I don't see institutional investors... can II Services Nominees and HL Nominees ask for a representative to join the board given they both have over 13%?

I agree that it does appear the two-man team are a little out of their depth!

Same thing came from Minister of Mines in 2020. All hype and nothing else.

https://www.lse.co.uk/rns/KP2/correspondence-received-from-minister-of-mines-aymvl8ofjnr6exv.html

I expect people were spreading scare stories back them as well.

SpArmada... its a gamble. If creditors get 90%, then the rest get 10% of a company producing in excess of 15K boe per day with a $550M debt.

Otherwise the creditors own 99.99% and the rest is worth c.£77,000

That's how I see it.

Usual caveats

The company's 2021 financial results said:

" The Directors prepared a cash flow forecast for the period ending 31 December 2023, which indicates that the Group will have sufficient liquidity to meet its working capital requirements to the end of the going concern period (March 2023)."

HL usually transfer my 'redundant' shares from my ISA to my fund and share account saying the shares can't be held in an ISA (8PG as an example).

"they will also want a minimum of 40% interest in the whole thing !"

Total fabricated nonsense, not based on any fact at all. Typical deramping rubbish.

https://www.lse.co.uk/rns/KP2/mou-to-arrange-full-financing-of-kola-construction-mvbt9962q7i3ukt.html