Member Info for Sageman

Oily bloke in that case you need to do more research! In particular watch some of his videos. SS infamously told us that “ the train was leaving the station” and made out that it was take off time . He thereafter went on a spending spree buying up assets whilst test results were o/s with a clear inference that he knew something. Massive gambles whilst completely misleading. The key is that he draws a massive salary and holds no shares. He sees us as his cash machine. I loathe the man.

SRBS, to answer your q. The majority here are stuck. SS told massive lies. We are sitting on 90% losses and crossing our fingers. In the meantime we watch SS aka Billy no shares the great diluter and destroyer of wealth continue unchecked. We have little hope but pray for a miracle. In the meantime the walking four letter word has not been sacked ( and he should be). We expect more dilution ( guaranteed) and more failure and empty promises and lies. But pray for a massive oil strike so we can sell this turkey.

Selling is as much a part of investing as buying is. Too often on Aim a share rises only to fall and there are very few that 25 bag. My strategy is to hold for free. I have sold 2m over 0.5, if II sell another 8m I will be left with 20m shares free. I bought extra at outset with this in mind. Everyone has their own strategy. I am happy to sell some and good luck to the new buyer If they go to 10p I win if they fall back to 0.1p I still win. I learned some big lesson with UKOG!

Lots of things have been slowly coming together. This includes the 338k access road cost reduction per 2019 RNS . That is now down to $129m. From memory it was previously far higher. Lots of threads coming to a head BFS, TEO , Glencore and general change in political climate for EV's. Add in our Iron Ore payments and you get the feeling that events are now moving behind the scenes at an accelerated pace. Forget the SP the MCAP is tiny given the resource.

Wilsy, Ignore this board. Read RNS's over last 3 years and visit company website. Do some research regarding forecasts of mineral usage. Thereafter decide yourself whether to invest. I have held for nearly 4 years and topped up in recent months.

Go, you are quite right that no one has stated that legacy assets are a pile of rubbish but if you listen to what Lucan says and look at the direction he is taking the company it is quite clear what is thought. They now see themselves as gas explorers not oil. However, Balcombe and Brockham are not dead And as I said I am hopeful that they could be commercial.

Gkb . It is pretty obvious why the board changes were made in 2019. It was because insiders clearly knew that the assets were a pile of rubbish. That didn’t emerge officially for 6 months during which time the sp tanked. Lucan has taken the company in a different direction. He needs to be judged according to that journey rather than the failure of legacy assets of the Vonk/ Tidswell era. In the meantime figures crossed that they may yet be of commercial value. At least he has stopped death spiral finance , unlike his counterpart at UKOG.

Thanks Gkahn. My back of an envelope calculation had huge wriggle room in that it was massively conservative. When oil comes back into favour this should fly. You may wish to do some research regarding China vaccine. It has been used since July. 1.3bn doses per year being produced. Cost circa $150. In bed with WHO. Coming to a place near you in December following a Trump loss. The impact on global oil production will be considerable resulting in oil prices recovering. DYOR

Every one always looks at the SP but I prefer to look at the Mcap. At 16m this looks like it is priced to fail. In contrast MB is confident of all necessary government approvals. Does anyone know where he gets the figure of 5000- 10,000 BPD? Also do we know the B/E price per barrel?

Hmm market cap 16m. Oil 5000 - 10,000 bpd. A few back of an envelope figures. Say cost per barrel $20. Oil price $50. 5000 bpd
Then profit pa = 5000 x $30 x 365 = $54m. I am sure that there is much more to it in terms of payaways etc. However, even if the profit was 90% lower at $5m the mcap should be 3 times higher. Clearly more research to establish cost per barrel, actual production and when also how much does Petro get to keep of production 78% ?. But given conservative nature of assumptions worth more research.

What people fail to understand is that the volatility here is a positive. For a share price rise to be sustainable the traders need to be able to get in and out and we need people to be able to take up new positions whilst others take some profits. Those who bought at 0.1 and sell 20% at 0.5 then have free carry. They would always want to sell some ,its how it is. I like the multiple asset plays here. Great that we get an RNS on Greenland to supplement the video about Wales. GLA

A great man once said that the stock market is a mechanism for passing wealth from the impatient to the patient. Great video. I hope that nauseating negative energy person has his shorts maxed out!!!

Mr Negative said 30p - thus far he has got that one WRONG! Most here simply said that it would be volatile and it has been and will continue to be.

Rob, I have to hand it to you for achieving mental Olympics. How you managed to deduce that the need for a crusher is because the gold is deeper is some achievement! They need the crusher mate because they are intending to dig up huge amounts of rock. Now if they could see that the rock was barren don't you think that they would call it a day and concentrate on Greenland? Its not rocket science!

Down , forgive me but what a desperate post! US stockmarket down just over 1% oil up circa 2% on the day. I hope that your shorts make you bankrupt!

Kabaa, interesting though flawed analysis. Firstly you have concentrated solely on Wales ignoring Greenland. Thereafter you have omitted the fact that when mining ceased gold was circa $900 per ounce (allowing for inflation vs $1900 today). Mining is a fixed cost business. You have also not allowed for advances in technology or that they are also pursuing new gold seams in Wales. Your analysis regarding both Amur and Thor is equally flawed since they both have substantial risks (discounted by you) but reflected in their SP's.

Bit dramatic Mole! Oil off 0.7 (=2% but up on the day) , Dow off 1%. Hardly "tanking"!

Kabaa, the August RNS's were substantive and the MCAP is tiny compared with potential (Greenland and Wales). I invested 0.45% of my pension fund here. Now 1% due to more than doubling. If it 10 bags from here then 10% of my pension would be a tidy sum. I have a rule that I never invest more than 1% initially and never more than 2% thereafter into any AIM share. I still get very annoyed by walking 4 letter words like SS at UKOG but it means that I can sleep at night. It also means that I can be patient and less emotional. I agree with your comments on Thor and Amur is also worth a look. GLA DYOR

Between 18/9 and 21/9 there as a pull back of over 25% (0.42 to 0.31) . Possibly more if intraday moves were included. This current pullback is thus far just over 30%. Lots of people taking profits, lots of new people taking positions. Volatility is guaranteed. I have taken some profits too but have retained the vast bulk of my holdings . GLA DYOR

Lat, I am invested here but I think you need to do some research. Check out the debt - Basics!