Member Info for SEA7

could possibly be him, if i recall...

Martin joined KPMG Auckland’s M&A team in September 2015 after having spent four years at EY in Malaysia providing M&A and corporate finance advisory services across various industries. Whilst at KPMG Martin has advised SimplHealth on its sale to Whãnau Tahi Limited as well as a number of ongoing mandates.

see page 3....

https://assets.kpmg/content/dam/kpmg/nz/pdf/Sept/manda-brochure-sep16-kpmg-nz.pdf

the last time the company hit this level of annualised operating profitability, they declared an 0.6p dividend.

some years ago, they went through the BEE compliance matters in south africa - the south african operation on its own, was valued at 20p per share and that was without the jorc compliant, tailings facility with over 81k oz gold in it.

Then there is the ghana operation and the mining assets to consider.

20p for a takeover should be a starting point.

yep - moved up to 6.15 on the offer - no sellers though.

6.10 on the bid and offer - should break to the upside.

net asset value here is 11.27p and that is without the 81k oz tailings facility, as it is an off balance sheet item.

this NAV will have increased now, as it is based on the last set of accounts as at end june 2019

the largetst shareholder has just scooped up over 11m shares at less than half what they are really valued at.

market clearly isn't noticing the largest shareholder taking out the second largest shareholder completely.

that trade of 2,913,000 shares, when subtracted from FIL holding, leaves exactly 12m shares. we have seen two trades yesterday of 9m and 1m shares, that equates to 12,913,000 shares - leaving two mill

martin ooi has clearly bought the entire FIL stake of 14, 913,000 shares

probably see another tr1

over 6p paid.

6p paid again

another 2.9m shares just gone through - same price as yesterday

cheaper to explore for oil in the stock market, than go exploring for real in my view.

AC is adopting the debt/equity fuelled asset grab strategy. Does work, but you do have to get it right and have some luck

It is too small for a major, it is classed as non core and doesn't move the needle for them. They offload it, to a smaller player that can make use of it.

a bit like a multi billion pound hedge fund, with a few hundred million to deploy - they won't be looking at putting £10m into zenith, as they cannot take a big enough position to make a decent impact on their expected returns, without owning the entire company. Not a deep enough market.

martin ooi has added over 11m shares and now holds over 16% of the company

prices are beginning to move up now.

And another million at 5.8p bought

Should get a TR1 soon on a trade of that size - 5.5% of the shares in issue.

9 million shares just bought at 5.8p - printed 13.42

zeb - and every other word seems to have translated just fine - so I do not doubt the accuracy of the sentence I have referenced.

Thanks sentimentalist...

this sentence...

However, due to the failure to achieve the expected result, additional drilling is not expected in the area by 2020.

Note the use of the words "by 2020" - if the article had genuinely been written and published January 25th as indicated on the top of the original page, then the words "during 2020, in 2020 or simply "this year"" would have been used.

The inference is that the extract from the draft budget from the chamber of accounts for the oil fund, was written in 2019 and "the lack of achieving the expected result is likely to be in reference to the results RNS'd in October 2019.

I would therefore conclude that the original text is from late last year and not an indication of something we do not know about as yet.