Member Info for Piltick

Has anyone been able to find the podcast that has been referred to? The only one I can find came out in March this year.

Do we know who the operator will be yet?.

It will take at least 30 days to get the rig from Labuan to Nigeria, plus time to set up, so perhaps around the end of September, at a guess, IMHO.

Yet another AIM total wipe-out. Unfortunately I've held quite a few that's gone the same route. Thoroughly p****d off!

Perhaps he was too close for comfort!

No mention of the lease.

Yes, Tom Winnifrith, I suspect!

The good news is that they have manage to free themselves from the Bracknor stranglehold. Although it's still going to cost them a few £million before it's all over. Now they need to organise some proper long-term senior debt, at a humane rate of interest, to see them through the next 2+ years until they start to earn revenue. And/or an equity deal from someone who is prepared to hold the shares long term and not flood the market and dilute shareholders. Can they find such a white knight? They have about 2 months to find him/her/it.

It's hardly cheap finance though. 12% compound, a lorry load of warrants, and 5% early repayment penalty fee. Still, not as bad as Bracknor!

I wouldn't be surprised if Bracknor refuse to advance them any more funds. They must be concerned that they may not be able to sell the shares that they get from converting the loan notes.

Message to Chisbridge: If you haven't got the number of shares you need by now, then extending the deadline is not going to help you. Have you not got the message yet? Shareholders are NOT prepared to sell their shares to you at this offer price. If you want to obtain more shares, then the only way to achieve that is to increase the offer price to something more realistic, you miserable Scrooges. I will sell at approx. double what you are currently offering, and nothing less. We all know that the shares are worth at least that much, just look at the Brokers' forecasts and projected P/E ratios. And perhaps you ought to think about this: If you do not achieve the buy-out, what sort of relationship do you think you will have with this company thereafter? Do you really expect to be able to continue as executive directors after all this nonsense?

RNS 3rd July: "The Company’s current plan is that the results of the Scoping Study will be announced ahead of the publication of the Annual Report and Accounts during this month of July." So that's something to look forward to.

I can buy at 1.07 but can't sell (Barclays Stockbrokers). Looks like nobody wants to buy our shares at the moment!

When I click on the Share Trades button above, I see trades going through almost every day.

About 6 months ago I reviewed the RNSs back to 2015. In the RNS 30 March 2015 they were looking at construction of the smelter to start mid-2015 with commissioning H1 2016 and full production H2 2016. Even if everything else had gone according to plan, that would seem to have been a rather ambitious time-line! Anyway, I believe that all of the delays since then are down to the delay in obtaining the land lease. This new acquisition strategy should un-block the log jam.

Just taking a quick look at the RNS on 11th April: "...the long term objective remains to operate a 15 MW smelter followed by four 75 MW smelters to process the large Vanadiferous Titaniferous Magnetite resource at the Project." Presumably this is a typo and should read "... four 7.5 MW smelters". Anyone?

Now that's more like it!

Aren't we supposed to get the results of the ovarian trial during or at the end of Q2, according to the interview on 4th April?

Just look at how the Bracknor financing agreement is working. Surely it is obvious that this situation is not sustainable.

Surely this method of paying huge fees in order to get around the rules must be illegal?