Member Info for pied_piper

Rebs. Except that for a long time this morning you could sell at .88 and .878

Vagabond/Sherlock. Yup, I deliberately joined years ago and have been a sleeper - just waiting for this moment. Lol. I have only commented on eme because this is such a friendly board and the others are completely dead. I assume if I keep my posts to factual comments that are in the public domain, or make it obvious where I am stating an opinion, then there isn't a problem. By the admission of some, there are newbies here and the occasional bit of help is required to learn how the market operates?

Like the person who keeps saying "It's in auction!!", for example. That is either designed to encourage others to buy because "somethings going on", or perhaps they don't understand that eme is a SETSqx/mm stock. That means there are automatically 5 auctions every day. Opening, Closing and then one at 8.50, 10.50 and 13.50 - all lasting 10 minutes. Normally nothing happens in them - for eme - but sometimes (particularly on closing) the naughty mm's use it to their advantage to give an artificial false close. Hope that helps that poster.

Stella. More often than not they close their position through a placing.

Correct Stella. Or they know they have a built in, guaranteed, exit strategy?

Amusing you think I'm brewster daveklein. Not sure what I feel about that.

I'll take that as a compliment!!

However, there's quite few people who have been saying for quite a few days now that "the churn is over", "placing shares cleared - off we go now".

I was speculating on why they keep pushing it down. Sometimes, when a company is known to be short of cash the mm's short shares and then effectively blackmail the company into a placing to allow the mm to get out at an advantageous price.

It's certainly happened to eme about 5 years ago.

Err. It was a question. That's what a "?" means.

And the mm's are very grateful. If you remember back on Monday JT71 was saying it was virtually impossible to buy anything at .115p. And yet the mm's have sold everything thrown at them, and walked it down 30% and on a dummy buy you can get 15 million now easily.

The mm's are always the first to know what's going on. Why are they happy to build up such a short position...?

Whilst there is a lack of further news, which could be weeks and weeks away, the m's will make the most of it and squeeze the life out of any weak holders.

That's what they do!

Followers of the company will know where to look, it has been mentioned in a number of Annual Reports + CLN holders will be settled from the proceeds of the sale, the eventual sale is expected to clear EME's debts + leave a significant surplus."

Again, very misleading.

They are required under the agreement with the CLN holders to apply any sale proceeds to the debt and also pay a further 15% of the gross proceeds on top, just for good measure.

Nowhere does anything issued by the company use the phrase " + leave a significant surplus."

"Fact is the Mako stake is worth many multiples of the current m/cap and EME has already stated their aim will be to sell it as soon as practical, the likely buyer will, almost certainly be Conrad."

Why is that a fact? You have no idea what a buyer might be prepared to pay. Why would Conrad buy more when they are trying to farm out? Empyrean will use their tag along option.

And be careful what you wish for. The last time Conrad bought back a percentage was from Coro and they paid circa $1m and a few shares for 15%. Empyrean out to get around $500k, on that basis.

Andy paps. Thank you for your comments. I appreciate time doesn't always do those sort of posts many favours.

At the end of the day, there seems little point arguing over this because no-one here really knows the answer or has any influence over it, so until there is significant news, I'll leave you all to it.

But I'm not afraid of nailing my colours to the mast first.

In my opinion (and excluding any other deals, share issuances etc) I don't think empyrean will get more than $30m for their share, which would only justify a share price of 0.15p. (Valuing the company at full cash value after paying off all debts and loan note holders).

I know most on here think/hope I'm wrong. If I am, sobeit. You would all have won and I haven't lost.

Gla

Interesting JT71. So, to use your net figure of circa $130m, you expect someone buying in to pay $130m up front for the privilege of earning, potentially, $130m over the next 11 years? Presumably you've never been involved in these types of deal before, or ever heard of discount rates and the like?

Please show me where I have been dishonest? I'm a shareholder here - albeit small - and I present a negative case for the value you ascribe here. By your logic I could argue you're being dishonest? It's called a discussion, however much you may disagree with another persons pov.

However hard one tries and for whatever the reason this does not pass the "smell test" at the moment. The price action is saying something is not quite right, or something is happening in the background.

Thanks for your numbers JT71. At least we're agree the Andypaps numbers were just plain wrong! Looking forward to your completing your analysis and providing what you think the discount rate that should be applied for any farminee for cash and time, for example

You obviously don't know that trades of that magnitude over the NMS can be delayed up to 2 days - from memory? That's what it used to be although happy to be corrected.

Go to the London Stock Exchange website. Plumb in Eme in the search part. Go to trades and then 15.. for Friday. That's where it is.

LSE website, to my knowledge, is the only site that puts delayed trades in their rightful place.

Except the 22 million is from Friday and looks like a sale...

So no comment on the Andypap numbers being wrong then.

I'll leave it there.

15 million available at 0.985 now. If you're quick. Lol

Lenoman. They don't have a "don't get sucked in option".

Both companies are well aware of the valuations. Apart from anything else, why do you think Conrad need to borrow money (around $80-90m) to fund their share of the Capex (around $130m) if they're supposedly getting a massive payout?

And still people ignore the fact that AndyPaps figures are wrong and Conrad have already indicated what they think they will get from a sell down.

0.5p target is not cheap. It implies eme get a $70 million payout from Mako. They won't.

1p target that some idiots have would need $120 million payout and even recent high of 0.15p would need 30 million payout. Even that is not achievable.

All the above assuming no further news on new project and no further placing - both of which are possible.

Very strange. I couldn't resist.....

Perhaps there are some people who are starting to question the AndyPaps figures? If anyone had bothered to read (or understand them) they will have noted that he uses an "assumed" price for the price of gas sales. $11.95, I believe, taken somehow from the ICP price - which is an oil price - with no explanation as to how he gets that figure.

Why not use the one that is in the public domain using figures given by Conrad which equates to $9.60/9.70, or around $8.30 if you use a different AndyPap comparator?

It's not the only "error".

I do own some - but not a significant amount.

But I'll leave you alone to your rampfest, for the time being.

At the end of the day, until there is further news, this price will be run by the mm's, and not you or me arguing.

The mm's will do what they do best and squeeze the life out of this until there is more news. They know that PI's are prone to getting over excited and over exposed, thinking they have have found the golden ticket at last. So the mm's will play around, suck a few more in , squeeze a few more out who see a profit disappearing or a loss growing. The evidence is that they have deeper pockets and better patience than the average PI and they almost always win out.There are too many things in their favour. Occasionally they get caught - but not often.

This was one of the busiest boards on lse. ADVFN and Telegram have had no posts since Friday on the subject of eme. Let's see how the enthusiasm is by Friday - assuming there is no news.