Member Info for Piltick

At the end of this document it states:
"NB. It must be emphasised that all the above exploration and appraisal is for conventional oil and gas. There is no fracking for shale gas taking place or proposed in Surrey."

Let's hope all members of the committee read this bit!

What expense? It doesn't cost much to hire a 4-year old with a couple of crayons for half a day.

A new dawn for ironveld! Wow, I'll have some of that - it's been a long night!

I wish they would fix their system on here and show all of the RNSs as they are issued. Frequently RNSs are not showing on here, not just for PHE but loads of other companies as well. Makes the whole system unreliable. It used to be OK, but someone keeps tampering with it, and each time they make it worse rather than better.

Yep, could be!

@dolphin: I may be out by a small amount, don't know. My figures are: Previous holding 118,107,893. New holding 115,512,794. I might be wrong on the first figure, taken from PHE's web site. Anyway, the difference is insignificant.

I wouldn't regard a small disposal like this as an indication of a change of investment strategy or concern about the business. Looks more like a need for cash for something.

According to my calculations, he has sold 2,595,099 shares, which was about 2.2% of his holding, and if he sold at say 0.3p, then he would have raised about £7,800. The bulk of the change to his percentage holding is due to recent share issues.

So hardly a major transaction, and nothing for us guys to get worried about.

@Ibug: So she knows that Angus do not propose to use fracking, and that there have been no fracking licences in the past 6 months, but she still insists on going on about fracking?

A couple of interesting points listening again to Laurence Read with Justin Waite on 28 June, Justine said that some time back, when sentiment wasn't so favourable towards copper, Goldfields offered $75M or $70M, and Laurence agreed.

Also, Laurence said that he expected that they should be able to come out with an update within a month, so hopefully shortly.

I agree, Newboy, consolidation sucks. I have seen it proposed as being for the benefit of shareholders, but in my experience it rarely helps shareholders as the SP invariably drops afterwards (relatively speaking, of course) unless it comes as part of some other major change or reorganisation in the company.

Looking at the actual transactions, the real spread appears to be about 5.2%, not nearly as scary as the spread shown on this lse web page.

Good observation, dolphin. Let's build a bigger one!

It's the fundamentals that's the problem here, never mind how many buys or sells there is on any one day. We've been waiting for the land lease for the original plant to be signed for about three years, and this latest acquisition was first mentioned a year past April and was supposed to give us quick access to production. Nothing seems to happen in SA.

You might be right, monkey, just natural correction. But if we get news of a placing shortly, then that will say something different. Let's just wait and see where this leads.

Perhaps there are big sells going on in the background that are not showing up yet. There isn't enough visible selling to justify the drop at the moment.

That had crossed my mind, but if that is the case then that would suggest a leak, which of course would be illegal, so it can't be that!

I must say I am rather concerned about this German company especially after reading stuff on the other BB as well as what Bolgas has to say below. I think the company, and the Nomad, have a deal of explaining to do.

Actually, pomander, I believe you when you say that you cannot short PHE stock. I 'm sure you are right that you cannot short PHE in the normal, legal sense. But that's not what's being discussed here, what's being discussed is naked shorting which is not part of the normal, legal system.

And there are other ways, other than those that are described in the article, that the brokers and MMs can achieve the same thing without involving the CEOs.

Although it is true that you cannot offer a placing at a price below the nominal price of the shares, there are ways around that, and this was done by another company some time ago, I think last year. Of course you have to find an investor who is willing to cooperate! I certainly wouldn't recommend it though, as it would cost the company a lot of money (out of the placing money, obviously) and it would be likely to ultimately result in dilution for existing shareholders.

All I'm saying is, it can be done.

I wouldn't call myself a bull, but I'm sticking with it. For a start, I'm well down at the moment and I just hate liquidating losses! I was expecting slippage (as I have stated on here previously) but very taken aback at the scale of the slippages announced on Friday. I still believe in the technology, and whenever PHE manages to get the first commercial unit up and running then I am sure that the company will be going places. But it's going to be a bumpy road ahead, and naturally I am concerned about financing for the next 12 months or so. But I'm taking a long term view and hanging in there.

In the shorter term, still looking forward to news regarding the independent third party verification, the planning permission (and other permissions) and completion of the lease for the first site. And finally, pleased to learn that FEED is now complete.