Member Info for pied_piper

Spudulike. The deal is probably worth more than $5m. I agree. I reckon somewhere around $15m is nearer the mark.

Knock of net debt and settlement costs of the CLN deal and you get to net cash of around of....ooops... a minus of around $2m

Let's be kind and say they get $25m. Knock off net debt and CLN settlement cost and you have net cash of about $7m - but no sales or projects.

$7m = circa £5.2m, which, funnily enough means you might just about (without applying any discount to cash) justify a shareprice of a little lower than where we are now.

And you accused me of repetition JT71. Pot and kettle. Always trying to encourage others to buy just after you say you have "topped up" as well. Tut tut.

Still 15 million available - but getting cheaper all the time. Now .093p

Keep buying

Fact: 15 million now available at .0995. Just saying like, in case anyone is tempted.

Vagabond. Could be soon on the farm out, but given their history over the last few years, I suspect that we'll be waiting for more news when the Conrad quarterlies come out at the End of October. They'll get there eventually, I just think people will be disappointed with the outcome.

In the meantime, I expect Kelly will produce a "must drill" project to get everyone excited for a week. It's what he does!

Conrad was probably up because of their potential farm out and prospects for Aceh.

Interesting you don't like people posting facts. Fact - there are 15 million available to buy at .101

Nothing of interest in the overnight Conrad announcement - which I'm sure you've all read. Mainly about Aceh

" Conrad is continuing its discussions with potential partners in the Mako development" is the best they could muster.

For starters, the 40m trade was a sell at 15.23 on 8th August at .098.

The official bid at the time was .010p. The trades either side of it were buys at .104 and .105.

The 20m and 10m are obviously sells. The 2 x 35m are harder to work out. One is deffo a buy.

It's not an orchestrated sell off. It's a few day traders who get involved in the morning thinking there's money to be made...and then they have to get out.

And where are all these delayed buys that JT71 was so keen on? Nuffink. And nuffink will get this moving - either way - until there is new news. Simple

JT71. How low are you prepared to stoop?

There's 15 million available at .0123, if you're quick and then more behind that. Lol

Jeepers. I thought you were winding me up because it's the school holidays - but you really are that naive

You really really know nothing do you? It doesn't matter who the directors are, and I agree it is run by a crook. However, in this case the company is controlled by the major shareholders . What they say, goes. It's that simple.

Apology accepted for your "slightly unusual" valuation method, however reading and comprehension now seems to be your problem....

"I'll stick with my $15m payout which equates to a share price half of what it is now, thank you." That's what I said 20 minutes ago and that actually means I think the current share price is a "half-bagger" - if such a thing exists.

Spudulike. Ahh , so you conveniently forget all the debt?? I can't say I've ever come across a valuation method like that. Lol.

Gazza. You sound like the person who described someone with a differing view as "scum" over the weekend. A helpful contribution to the conversation.

When you say "proven rubbish", the simple fact is that every question I posted on Friday querying the valuations and about Conrad have gone unanswered.

I'll try again with just one of them.

If the EME 8.5% share is worth what some people are guessing at , it's worth in excess of $1 billion to Conrad who also have two other very attractive plays. Conrad is currently capitalised at circa $75m and trades about 8 times a day.

Are they stupid in Oz or just simply know better?

More made up fiction from JT71, creating a narrative to suit his book.

"The drag from the placing should be gone". CMC may have got rid of their shares, but where have they gone? Into the safe hands of long term institutions? Nope. They gone into the hands of punters, like him, who are desperate to get rid at an appropriate point asap. I would wager that every single one of those 1.25 billion shares are looking for a new buyer at some point in the near future. Once Mako has gone, why would you hold shares in EME? Allow Kelly to splash the money on a new "must do" drill? Lol. Great track record he has for that!!!

And JT71 says there are lots of delayed buys waiting to pop up tomorrow! Lol where's the evidence for that? And big orders trying to be filled!

The fact is the serious day traders have moved on, there's nothing to see here until there is more news - which could be weeks away.

And Spudulike claiming that "even at 75% discount it's a 10 bagger"!

Lol. Maths not you're strong suit?

Apart from the circa $15m debt, people tend to forget that the CLN holders also get a payout of 15% of the gross sale proceeds of Mako. That makes quite a hole in the calculations. So even at 75% discount it would be about 5.5 bagger . And that's at full cash valuation. Would you value a Kelly company at full cash??? Warren Buffett I would - but not Kelly. Maybe a 60-70% discount to cash?

I'll stick with my $15m payout which equates to a share price half of what it is now, thank you.

Classic replies from one of the ramping crew playbook. Deny, Insult, Attack. A bit like one of your earlier posts trying to get people going:

"Mm's short of stock again, this will fly up this afternoon don't want to be out of this for weekend , news can land any minute :)"

That didn't end too well.

But you ignore the main point of my post. No surprise there.

You buy away (which you won't). As long as the inexperienced think twice about what they're doing - that's all that matters. It is still a free world.

Painless. You can't have it both ways. Everyone keeps saying "the churn is over", "the placing shares are all gone". If that's the case, then they sold every last share at a profit. The reality is that they started pre-selling them at around 0.135p. There was no real "buyer" in that sense. Where is the accompanying TR1?

Not very popular, I'm sure and will probably just be shouted at or brushed over but I'm genuinely interested as I'm conflicted

Why is Conrad only up 4% (on poor volume) and Empyrean is up 500% - since the GSA announcement? I thought this was -supposedly - worth in excess of a billion for them and their market cap is around $75 million.

Why have Conrad said they need to borrow circa $85 million for their share of Capex, if they are going to - supposedly - get untold riches from their farm down?

Why did Coro, which is owned by some pretty clued up fund managers and investors agree to sell their 15% for little more than $1 million - rather than stumping up an extra $500k to stay the course and - supposedly - cash in a few months later in excess of $100 million?

Why was Kelly so quick to raise £1 million when he seemingly didn't need the cash and - supposedly - EME is worth many times this price?

Why are Conrad allegedly talking to the second "preferred bidder" with the first one dropping out? I can't prove that one, but that is the talk in Oz?

The argument that Mako is "worth $279m to EME" is obviously false" as that is merely one persons calculation of the gross sales value over 11 years. The simple fact is that the 8.5% stake is worth what a buyer is prepared to pay. And that is a "who knows?" - but my calculations are that it will be somewhere around $15million.

I may be right, I may be wrong but my plea to those who identify themselves as being "inexperienced" or "a newbie" is to trust no-one. Not even me. Check everything yourself. People on bulletin boards are not your friends and it takes months to work out who are the goodies and who are the baddies.

AIM is a shark infested cesspit and groups of people work together, basically to con others out of their money through false statements.

So be careful and do not risk the house on what others are telling you is a one way bet. Golden tickets are very very rare.

Check everything yourself!! Please.

So on that basis, $1.6 billion to Conrad who currently are down 5% today and have a market cap of less than $100m.

Seems like Conrad must be the better buy on that basis, as they have two other potentially very large projects moving forwards.

No new news means no new buyers chasing this higher.

Trouble is, that was a sell from yesterday morning. And before you shout at me, go to the Stock exchange website and have a look at yesterdays trades. It's there. Then on ADVFN website you can see the trade action. Immediately after that trade went through yesterday, the offer was dropped from .1 to .095 for no apparent reason. Now we have the reason