Member Info for Restorationalist

I don't agree, doc, it's not too soon to judge his sale of the two tranches of gmet, both at ridiculously low prices compared to the current valuation. On that we can judge him as a big flop. We can also judge him on his dreadful comms (and lack of them on topics such as eGSA for example). Again another complete flop. So far he's been overpaid, sold the very best asset way too cheap when there was clearly no need for all of the cash it generated, and when he does occasionally participate in an interview he sounds like some farmer who's just fallen off the back of a turnip truck with his ill fitting suit and more errms and uhs than actual words. Face it, he's been a disaster, and pow needs someone of a much higher calibre, greater competence and a higher level of professionalism.

Buybacks are almost never a good use of company funds on aim. Real problem here is the market sees through the out of his depth CEO. Sold out of gmet way too soon only to sit on a pile of cash in the bank losing purchasing power to inflation. eGSA has so far been a complete flop. Where's all the revenue he was promising it would generate? No update either. Pow needs better leadership asap.

"That works out at 0.023 CENTS per Barrel LOL."

LAMS - your mathematical abilities appear to rival only your oil and gas assets valuation abilities.

0.023 cents per barrel would value this at less than one million dollars, and even I think that is a bit low for such a large prospect. I think what you meant to write was "That works out at 2.3 CENTS per Barrel LOL." You're only out by a factor of 100, so don't let such a trivial schoolboy error prevent you from amazing us with your future price predictions and asset valuations here. Why not come back when you understand the basics of the decimal system (be than in either pounds or dollars.) LOL indeed.

92m comes from exactly what it says in the sentence you quoted - the read across implied valuation based on the GLND listing price.

I don't know where you got your education in valuing oil and gas assets, but if you think P10 reserves (which have obviously no DFS, no FID and certainly no infrastructure in place) deserve a much higher valuation... Well, you should ask for a refund of whatever fee you paid for that seminar.

Apologies I'm out by a factor of ten, 50m coins at 2p each is obviously 1m not 10m! Too much drowsy sleeping medication from nurse at bedtime clearly...

Worth about 2.6c at the minute, but traded up to almost 5c on launch. Hopefully it will trend higher in the coming days. The current mkt cap is basically the 10m quid of yellow plus the cash on the balance sheet, with the bitcoin almost thrown in for free. So it should be at about 5-6p on NAV alone, ignoring tomato and greengage, plus the plans for further yellow network cooperation. But the really massive potential is in the prediction markets play which will hopefully soon be announced, that's a market worth hundreds of billions over the coming decade, and if MP can get just a small slice of that for Coinsilium then the previous highs of 85p will look like bargain basement territory. Very exciting months and years ahead here, and MP/ET deserve great praise for their yellow achievement.

"alternative investments to Buchan"

I sincerely hope that is a joke! What jog needs is not late life producing assets (which will simply be used as an excuse to retain this absurdly expensive management team) it actually needs someone to take a flamethrower to board remuneration, sack a number of management, slash salaries for the others and put the whole enterprise on care and maintenance. Jog has a minor interest in one project which hasn't yet passed FID. Either Benitz or the team from Ithaca need to go asap, given they were brought in to get the farm out done, only achieved the very lowest end of expectations and then paid themselves absurdly generous bonuses for their mediocre at best performance. It's time some sense was restored to the management of this company. And slashing overheads would be a good start. Putting in a new CEO without delusions as to his own ability would be a very good next action. Almost a decade later the company's equity represents less than the cash put into the business by shareholders over the years. Time for a clean sweep and replacement with a leaner, more hungry, management team.

Se we should be grateful for the cheap shares accumulation opportunity. Good luck.

Have seen various people assuming purchase on various fora, so that comment wasn't aimed at just you, apologies if that was how you perceived it.

I simply don't know the economics of the purchase vs lease for new rigs, and if ready options include purchase or lease of used rigs. If as you say it is a case of simply buying for 300k what we lease for 25k/month then, pf, that would be compelling for purchase, but I find it hard to believe that competition in the market wouldn't drive down rates to a much less compelling case for always purchasing. (I'm not sure how saleable they are after either, as I recall ECR under Brown bought their own rig which was nothing but a liability for the years they owned it and it was of limited resale value in the end.)

Given one bonanza grade result can transform a company share price, I would under certain circumstances assume that it's better to do the high impact potential drilling first on contract/lease and if a Bonanza grade is hit a raise to purchase a full setup could be done for minimal dilution at much higher share prices.

For me the big red flag is that mgmt did not apparently negotiate for second rig commitments adequately or we wouldn't be in this current waiting game. That to me speaks volumes about current mgmt competence but that's purely my perspective.

If/when I get up to 85m shares, and I've 1%, I will start to look at the possibilities of getting together another 4% of support to force an EGM and propose to replace Price with someone I think less prone to these sorts of blunders. I have one excellent chap in mind, but frankly I doubt he'd be interested as he's too busy with other projects right now, but he's certainly got sufficient quantity and quality of AIM (and Aquis) experience, and primarily in junior mining, so once I get more of a feeling how his schedule looks I will gently probe for any interest. One could also hope that perhaps a buyout of another of ACAM's highly successful AIM investments in the near term might leave a young, highly competent CEO looking for a new challenge. What this company needs is someone with delivery ability not just talking and BSing ability, Price looks to me like the wrong person for Rockfire right now. So if ACAM do make a move to rid us of this troublesome priest, I hope shareholders will vote in favor of whatever slate they might present (and I've absolutely no knowledge as to whether anything is or isn't being currently considered.) I just know that they are the best in the business, and I cannot imagine they will have been impressed with the recent amateur hour production from our overpaid CEO. So if they want to put someone more capable in, I will certainly vote (which I rarely bother to do) to kick Price out, because his recent email to me shows a remarkable lack of self-awareness/responsibility for the mess he has presided over recently. There's simply no reason that the share price should be down here at this stage in the game, although I suppo

Ashes. Moral of the story: no matter how good an asset is, bad management will destroy shareholder value. price needs watching, and I'm comforted that ACAM will be ruthless in their self interested decision making.

May I ask where all these assumptions have originated about Rockfire buying a rig of their own? To my knowledge, and I'm happy to be corrected, the RNS stated they would acquire one, and given the capital intensity of purchasing equipment vs leasing, may I ask why peeps assume it will be a purchase rather than a more cashflow-friendly leasing arrangement? I would fully support leasing, I'm not thrilled about the prospects of purchasing unless the economics are demonstrated to be compelling, given our typical junior low working capital situation.

Clearly the local drilling co has proven unreliable. But as a Rockfire shareholder I'm rather more annoyed that the very well-remunerated c suite people we employ have allowed themselves to be strung along like this on something so important and didn't nail down terms more precisely for the deployment of the second rig during the drilling contract negotiations. A management failure from my perspective.

I'm also rather unimpressed with how long they allowed the failed drill to go on rather than nipping it in the bud in a more timely fashion, and with the very poor comms around that particular coc. kup. We have every right as the shareholders whose money (via diluted equity) pays these people's salaries to expect the highest professional standards from those we employ, and I am personally remarkably underwhelmed with David Price's behind the curve position recently.

I will be adding to the 50m+ shares I hold here down at these levels as and when currently limited funds allow, but as I have expressed directly to Price it is nothing to do with any faith in his leadership, but simply the sure and certain knowledge that once ACAM have reached a certain level of dissatisfaction with him they will quickly put someone more capable in charge, and as a shareholder I would honestly welcome that, I'm sorry to say.

Truly excellent resource, but I'm personally unimpressed with the recent actions of management. (Having said that, like most, I'm here for the 3-5p per share buyout in 12-18m at which point I anticipate a far more comfortable retirement than my current meagre zinc-plated government pension provides for.

And before the naysayers start with their rants about deramping, not owning shares, why are you talking down a company you're invested in, I will end by repeating my position that all shareholders should care very much about how every penny is spent when it is funded from selling equity which dilutes our own. And if you want an example of how golden child can turn to sh.eet in a short space just look at Arc Minerals where the management have bled millions literally in bonuses and options for a JV agreement which was going to make them all rich, and Anglo have recently walked away now leaving multimillionaire board members still on their absurd salaries, not repeating a penny in bonuses for a JV which took years and resulted in no drilling of consequence, and shareholders were left with sackcloth and a

It's also worth following the output of Out of the Ground research, they are very well researched articles and there's significant crossover between OotG and Coinsilium shareholders.