Yer ....Bandy's probably dancing around playing air guitar and rolling in your money scattered around on his office floor, dressed only in his undercrackers, listening to Thunderstruck by AC/DC or maybe 'Daddy Cool' by Boney M. ') all just imo of course
it was the AGM today. Two large million + sells and only one buy for 50,000 . The SP has been mysteriously propped up for several weeks despite sells being far greater than buys. More dodgy dealings going on me thinks.
This time was even worse Swify. He announced a ' glorious project' (Perth Basin) to pump up the SP, suck in more PI 's and went on a hyping roadshow (including London) giving a presentation selling how great an opportunity investing in the Perth Basin JV was. The SP reached 0.75 p then mysterious large sell off and then released an RNS saying he wasn't going to participate in the Perth Basin Project anymore. You couldn't make up a better plot for a movie about a con imo.
Even forgetting about the ongoing salary Bandy and his Board are taking, the current SP is much too high atm. There are more than 529 million shares in issue (not counting all the share options to be exercised) and only around £2 million in the bank. That equates to a MAX SP of 0.378p per share based on cash which is all RMP have now. Sell up now and get at least some of your money out now while you still can.
It just gets worse and worse for shareholders. The new quarterly now reveals that RMP and their jv partner 88e have lost the Alaskan Western Slope rights . This along with the Bandy pulling out of the Perth Basin means that RMP has no physical assets at all. Just some cash which is being pi**ed away paying for Bandy and his mates on the Boards Salaries- wtf are they still taking a salary for when there are no assets to manage.
lol ....that was $4.7m 'Australian dollars' last quarter up to March = c £2.5m -then with £150k *****d down the toilet on the Perth Basin fiasco where investors were completely misled and misinformed - ongoing salaries (for doing nothing) of Bandy and his buddies with their snouts in the cash trough: Mr. Greg Bandy - Managing Director (Board Member) Mr. Jason Bontempo - Non-Executive Director (Board Member) Mr. Aaron Bertolatti - Director and Company Secretary (Board Member) Mr. Tony King - Corporate Adviser I'd say there is currently less than £2m As for the other assets (which are actually worthless liabilities ) ie Alaska dry holes, Philippines which have no current value with the price of oil in the toilet and no one seriously considering any exploration investment in Alaska. Whatever Bandy does next, when he finally decides on the next hyped carrot to dangle, will imo not be in the interest of remaining PI shareholders. Get your money out now while you still can.
No he will most likely eventually announce yet another fiasco investment into his buddy Dave Wall and 88E in Alaska because no one else is daft enough to invest there with the price of oil so low and E&P costs in Alaska so high.
Agreed. Bandy has been promising this fantastic Aussie venture for almost a year, doing the rounds giving presentations around the globe bigging it up to potential investors. Then just when we are all waiting for the long promised news of approval he mysteriously decides to pass on the project without any proper explanation to investors or mention of better alternative ventures !! You couldn't make it up -- They should make a movie about him as his story is on parr with American Hustle and The Wolf of Wall Street. All imo.
Guess it depends on how much longer you are prepared to have money tied up here in this dog, (on the assumption that Bandy just hasn't pulled yet another fast one to line his pockets), while there are other opportunities out there atm for your hard earned cash . Good luck guys.