Member Info for saintpeter7

Just to add there do appear to be one or more sellers trading in 500K lots and maybe once they stop selling, the SP will have reached bottom.

Had a further look at the support level I referred to you yesterday and there is the support at 0.36 as well based on previous levels in the summer and then 0.325 below that. So one would hope that they will stop the SP going much lower. It is a matter of time as I said yesterday. I would hope that the downside risk is less now but it will depend on how long it takes for the RTO to be announced. I shall hold and wait as the potential gain is material.

Haven't posted for a while. I still hold most of the shares I bought last year. I am surprised that we have not heard any further from the Bod about that unsolicited offer they received in October and can only assume that discussions are still ongoing as otherwise I think they have a duty to announce that it came to nothing. Nothing further about the copper concentrates business either - they do not seem bothered to keep the market up to date unless they are really required to. Shame, as not very good PR. We will hopefully hear by April, if not before, about their review of the Batangas project and although they have said that they are talking to possible local partners, I am concerned that the project may never get off the ground due to the Phillipines government's attitude to mining in sensitive natural areas. I see that Gina Lopez is still in charge of the Environment, which does not help, although the President's attitude to foreign companies seems to be worsening anyway and he is more interested in making Russian connections. More information from the company as to its plans would be so good to hear! Would be interested to hear other investors' thoughts.

I note that DBC has shortened its accounting period which was due to end on 30 June 2017 to 31 December 2016. So, the company will produce Accounts for the 6 month period to 31 December 2016. I believe that this is being done so that those Accounts will be the final ones to be included in the prospectus for the RTO. There is the deadline for the RTO of 5 April, but in practice I expect it to be before 31 March, because by that date the loan that LIFE made to DBC of £200K wil be repaid from the £1m planned fund raising. My expectation is that the RTO will occur in March to meet both that deadline and leave sufficient time for the prospectus to be prepared and the funds to be raised.

We do have the support level at 0.375, which was the SP for about 6 weeks during the summer and I'm hoping that will hold. The trouble is that investors are impatient and it may still be a few weeks before the RTO can be announced. The choice one has is either to sell up and move on or to stick around on the basis that when an announcement is made, the SP could jump maybe 100% or more in a short space of time. It is that possible gain which says to me patience - otherwise you could find it difficult to buy on an announcement and lose that great opportunity for profit. Pray I'm not still saying this in a month's time!

Came as quite a shock to get home and find that the Council had turned down the planning application. What is the point of having planning officers who do their job only for their recommendation to be rejected? Seems such a political decision. Pleased to see the strong late buying though and the last trade just after hours a buy at 1.40p. What price will we open at tomorrow - 1.40p? Sincerely hope there is continued buying pressure tomorrow to keep us at that level. Only concern is that there will be pis who don't want to wait around and forget that Wressle is only one of UPL's oil resources. As has been said, UPL could decide not to continue with its investment in Wrestle as they have the option not to proceed and so with the mcap at the present level, UPL IMHO is not overvalued. As I posted on Sunday, I roughly came to a value for the company of £8.45m, including Wressle at the £1.85m paid. At 1.40p, the mcap is £5.36m, still quite a margin.

Do you think that the 1m share sales are perhaps Optiva reducing their holding, having acquired a fair percentage when they participated in the placing?

Nice start to the day techandy and SMT. The consolidation of the last two days a help for the next push up. Hopefully, that multi seller will not be back again.

I suppose I also have a concern about further fundraising in connection with an RTO, but I'm hoping that it would not be at too much less than the current SP and would be seen as a positive placing because it is for an acquisition with potential (as surely it will be) and will not necessarily hold the SP back. Lithium seems to be the commodity that is the flavour of the day and not for anything other than a good reason than it will be in great demand in a few years time. But you also have the likes of copper and nickel, which are expected to be in short supply due to the lack of their mining. Vienna, would be nice to find another Griffin Mining - I trust you did well out of it!

Hi nikstar - I hope you did not get sunk on PXOG, which I note you have posted on. If so, hopefully they will recover. Like you, I'm hoping for good news tomorrow - might not be publicised until Thursday. As the SP has not risen much since the placing, we can hopefully enjoy a rise in the SP on the back of the news, without any profit-taking. IMHO this is a share to hold through 2017 with possible new acquisitions as you quite correctly point out.

Hi Vienna - as you know I sold some of my shares before Xmas as I did not see anything happening with SMA's SP for a while. The million dollar question is of course when will the Bod be ready to announce their proposed acquisition. The deal with Volcanic should be sorted by the end of this month one would hope, now that they have raised the money they needed. I wonder if the Bod have the acquisition lined up already to go? Shall continue to watch and if SP can stay above 0.40, which is my only concern, will probably buy back most of what I sold. Bye for now.

Only just checked in today as very busy at work. Yes, quite good today. A degree of consolidation happening, which is not a bad thing, to launch higher. Let's hope we don't get that automatic trade seller again this afternoon.

I definitely spoke too soon when I posted earlier today. The seller(s) must have read it and said we'll show you! Just like before, the round amounts are all automatic executions. If I did not know better, I would think that it was a computer trading. Regretfully, I have no insight into how and why this is happening to MYT. Is someone trying to depress the price on purpose or is it perhaps an investor with a large holding needing to sell for some reason?

Meant to say 'four trades at the end of the day' not 'four trades to day'

Pleasantly surprised to see the bid and ask to jump up to 1.40 and 1.50 at the close, when the four trades to day were at 1.43 and 3 at 1.40. They were all shown as buys on HL and expected them to be so. Don't know now. Do you think there is a big purchase in the wings. Anyway, here we go as they say! Lift-off I hope.

I think it's a combination of three factors - the sellers have gone, a few pis are realising the potential here and the TipTV presentation no doubt also helped. Long may it continue!

Yes looking good SMT. Would be very positive to break through the 50 dma at 42p. It looks then that it will meet resistance at about 44-45, but some consolidation at that level might not be such a bad thing to enable the SP to make further progress looking towards the trading update for 2016.

I have been trying to work out a base value for the company without going into great detail and trying to value its potential share of known oil reserves. In the December 2016 AGM presentation, the company says it had £2.6m cash. It acquired it's interest in Wressle before then for £1.85m from EOG and we shall assume that is a fair value. How much might Hardstoft be worth to UPL - well, when the company announced the award of its 16.67% interest in the Hardstoft's fields in December 2015, it gave it an estimated risked value of 2.2p per share and based on the number of shares in issue at that time - 130m - that gives a value of £2.645m. However, they then acquired a further 8.33% from EOG after its takeover of Shale Petroleum. I am unable to find how much that cost UPL. Let's assume that the 25% interest has value of at least 50% more than the 16.67% interest. That places a value of just under £4m. on the Hardstoft asset. Add the three elements together and we arrive at a value of at least £8.45m. That compares with the present mcap of £5.21m. and is before any added value of the Wressle interest which may come about by reason of the planning committee's approval this Wednesday. Surely, therefore, the SP is due an uplift.

Why do you think this will end up on the main market Rigger? It had crossed my mind that that should be the ultimate aim. No pun intended. Haha It seems to me that if they are to proceed with the Primus Care RTO, they ought to try for a major fund raise and not just £500K, but whether there are the parties interested in more, I do not know. It also occurred to me, that as the company has changed its name to Forbes Ventures, they may decide to fund raise and invest in more than the one business over the next 5 months. Wishful thinking probably! Have they got the ambition and the necessary funding contacts.

Thanks SMT - excellent talk by Bob Smith in such a short space of time. Certainly fills me with confidence that I was right to buy in again at 49.5 at the end of October and 33.6 more recently.