The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I'd fall off my chair if they got anywhere near raising the full allocation in the open offer. When you are forced into doing it in the first place and basically state that you're raising the money for "general working capital requirements" (aka paying salaries and bills) it's fairly safe to say it would never have investors reaching deep into their pockets!
Mcadder that SLA for the note but I don’t think anyone sane takes heed or believe a work BT says, the guy is a looney tune. Unfortunately, another casualty of NUOG.
Well I must say today’s sells and the SP action giving me immense confidence on the success of the OO. No end to the bad tales here.
Where have all our twitter friends gone? Not even the slightest attempt at a weekend ramp... looks like their 15% pump and dump on the back of the OO ending was the best they could manage...
Would love to be on the planet of those who see the upside here but for me it’s #desperatetimes
For balance, I also don't subscribe to the view that it will be disastrous if they don't raise the 250k through the OO, they didn't do it by choice. They never wanted to do the open offer, it was demanded by those at the AGM as a concession for having the ability to place. A mistake in my view, but there you go and the OO has done nothing but cast a long shadow since the placing.
My opinion is that they raised as much as they "think" they need to do whatever they have planned (however realistic or likely that is is another thing entirely).. This also means however, that those holding out for some amazing news to drop on the day before they can participate in the OO, and as is being hyped up by the twitteratti, are in for another NUOG NO NEWS lesson!
Excellent post, warran****cher.
Mcadder be very careful here. I understand that the price looks a good entry point but that’s predicated on the belief that something will happen to send the price rising. First of all you only have to ask LT & Seadog at how duplicitous and deceptive this company can be to lure in and retain significant investors, I think if you asked either of them if they believed they been lied to and misled directly they would confirm this. Be very cautious of any “progress” you are hearing about, no one running the company has skin in the game and it’s totally unclear how any potential deal would ever be structured to the benefit of NUOG, MFDEVCO has all the projects on the go (allegedly) but Newfoundland is NUOG’s only real asset.
Secondly, and most importantly, this company have been trying for years to get a deal done. I’m totally unconvinced they have the credibility or capability to do it and that’s borne out by results. Posters like Sharelock will say that this is normal for developing companies and things take time but this company have stated repeatedly over various placings that the money was to secure the first project, each time it fails and the begging bowl comes out again. That’s not development it’s simple incompetence or not even really trying, even deals where there are “hurdles to competition” fizzle out.
Lastly, the latest placing was desperate and a kick in the teeth to LTHs. Comms are appalling, there is no coherent strategy and now we are supposed to believe they are going to pull something out the bag at long last as long as we prop them up again.
Not convinced, no thanks! Holding what I have (god knows why) and basically hoping for a miracle which I guess is the same strategy as the BOD.
For those who got drawn in on the twitter hype today, your first lesson learned, welcome to NUOG NO NEWS!
How? If no news comes (as per) then the price simply falls back. Sharper even as those traders quickly realise they should bank profits. This is all a bit ridiculous. Why on earth does anyone think there is material news due to coincide with the OO closing. Did I miss an RNS?
Agreed. One thing I will say is that it's certianly been a long time since I've seen this level of "interest" or "positive sentiment" in NUOG and whilst it is lifting the share price it's hardly anything to write home about thus far.
Cobra, I credit you with much more intelligence to draw your own conclusions on that one.
Perhaps it’s because the entire period has been has been littered with false hope, false dawns and false insider info. Open your eyes! (With respect)
Kenirogras, I fail to share your sense of enthusiasm. Anyone who has been here a while will undoubtedly be underwater and at a much higher average than the .30 on offer. The facts are we have no news and no clear idea of when a deal will be signed if ever. This OO or minuscule increases in SP do not benefit faithful long term holders. If it does rise further in the absence of the material news it will only reward traders and short term profit takers. The company are silent (officially) and it seems the proven wink wink nudge nudge strategy is in full swing.
With no news, only rumours? No thanks! This is NUOG NO NEWS
I see that some of the mood music here is changing to news just after the end of the OO. You need to be in to benefit. Let’s be frank, this is NUOG no news. Any rumours you are hearing are just that. This company is a master at leaks and deception to suit its purposes, just ask Seadog and LastThrow
I’m sure it is Joey. All the finishing touches being made. It’s so good the company can’t even be bothered to try and ramp it up, although when there really is nothing to be said I guess we have our answer.
NO NEWS
So as hopes fade of any news before the end of the open offer what real incentive is there here to give them more cash?
Agreed, catch-me - even Graham’s note says that “hopefully” the placing would be supplemented by the OO. They didn’t really want to do an OO and they aren’t banking on the funds either. Is anything actually about to land? Well that’s anyone’s guess...
Winchpere, I agree for the most part, however, the difficulty here is that the company have made it impossible to take part for me due to their history of failure and utter lack of transparency. Even the OO document is full of waffle and inspires no vision or confidence to make me want to reach into my pocket and fill the begging bowl again.. it’s a NO from me.