The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Looks like the size of the problem exactly & if he doesn't raise the cash he will sell it to himself & his mates at fire sale price..investors, especially LONG-TERM investors will get zero sum gain..
announces another extension or failure of the primary bids raise..
here & nervously crawling out of the woodwork..wonder how many have bid for extra shares on primary bids..
76p will put you in profit..
A lot..
“If a way to the Better there be, it exacts a full look at the Worst.”
Yes still have a small holding here avg 1.8p but lost £6k last time round & no issues on Puka 3 result..now KEA are expecting something completely unrealistic which takes minimum 6 months to prepare..
Yes still have a small holding here avg 1.8p but lost £6k last time round & no issues on Puka 3 result..now KEA are expecting something completely unrealistic which takes minimum 6 months to prepare..
Why are MEO not participating in this drill? Due to low quality 3D which incidentally IRGS squandered NZ4.5M DOLLARS of investors cash on..
So good afternoon Ian, hows the crowd funding equity raise going so far? & have you any ideas when the rig might be scheduled for the SHANNON drill? 'afternoon John it's been a very encouraging week up to now but we can't speculate on any figures regarding the £3m cash raise as it's being dealt with through Dar..er I mean primary bids & we won't know till later this month' ok Ian so your feeling confident about the placing then 'yes were all very excited about the SHANNON prospect, we've spent £20,000,000 in 5 years so far on the PUKA area & have drilled holes, shot 2D & 3D seimic & this has helped us define this new prospect SHANNON' Ahhhh I see, so what would you advise investors to do if they had any spare cash? Would you be recommending them to load up at under a penny, in the open market, or would you you say to hell with that & recommend them to participate in the crowd funding opportunity, at over a penny, to raise £3m for, ahem working capital & the SHANNON drill which is flavour of the month but no rig date available so to speak 'well the waihapa field adjacent to our acreage is producing up to 10,000 barrels a day & the chance of success is 20% due to all the work we have done & the DOUGLAS well has been looked at again plus there's limestone' This sounds very positive Ian how do you propose to spend the summer in Westminster? are you looking forward to wandering round Soho drinking in the bars & clip joints or will you be busy, looking to do something more constructive & proactive to 'create shareholder value' which you mention so often in the RNS releases..
someone is accumulating massive amounts at £41 a time.. ISDX is on fire too.. 15/05/2015 10:31 GBX/ISDX-exn New 400 0.87 14/05/2015 09:47 GBX/ISDX-exn New 32,480 0.85 13/05/2015 15:46 GBX/ISDX-exn New 2,240 0.85 11/05/2015 08:48 GBX/ISDX-exn New 75,382 0.93 11/05/2015 08:46 GBX/ISDX-exn New 100,000 0.93 08/05/2015 16:06 GBX/ISDX-exn New 8,065 0.93 08/05/2015 16:01 GBX/ISDX-exn New 93,915 0.8 08/05/2015 14:49 GBX/ISDX-exn New 78,633 0.93 08/05/2015 13:20 GBX/ISDX-exn New 5,000 0.93 08/05/2015 11:51 GBX/ISDX-exn New 8,700 0.93 08/05/2015 10:04 GBX/ISDX-exn New 10,316 0.95 Primarybids.org must be knocking themselves out with the volumes of share bid traffic..
by removing more post"s..haha you couldn't make it up..
every man & his dog knows what the cash call is for & it isn't for drilling it's just not enough, the money if raised will be used to cover expenses whilst they spend another 6-12 months trying to either sell what's left or continue with the lookout for a farmee..the RNS quite clearly states 'working capital needs of the business' Aside from all the removed posts of disgruntled investors etc etc the facts remain that IRGS & KEA are skint & the bank facility will be exhausted soon..lets be hypothetical & assume the £3m is raised, then it takes time to book a rig, get things organised & cover the approx £200k per month overheads..the answer is they have no intention of drilling they would be better off having a small cash raise to get the PUKA fields producing again now oil price is back on the up, then go for a drill but of course IRGS master decision maker is in charge so any logic goes right out of the window..
General Meeting In order to be able to raise these funds Kea will require Shareholder approval to allow for the creation of 400 million new ordinary shares.
but where are the crowds though Ian?..'I think it's a helluva great opportunity, I really do & I will be supporting it personally as I am one of the largest shareholders' but no commitment to any personal funds for the project Ian, or any of the other Directors? Lead by example it it's such a 'helluva great opportunity'..the rest of course is a hoot listen & watch the full interview below..loving the new hairdo Ian 'It's the new curtains look my hairdresser tells me' h'mm could be curtains all round for KEA petroleum soon, especially if there isn't much appetite for the 300,000,000m placing.. http://www.brrmedia.com/event/138406/ian-gowrie-smith
here prior to the AGM as the news afterwards will not be pleasant..
Out the mess after the AGM..no cash =firesale of assets & bye bye KEA but he will have to wind the company up & speak to the bank & creditors etc etc which os never pleasant..
How many is IRGS buying?? He never mentions this once, not even in his list of 'bullet point' reasons to invest in KEA at the end of the talk..300,000,000m shares to sell by Wednesday..h'mm..
There are plenty of them littered throughout the RNS releases..of course if you still believe in the project then be my guest & fill your boots with more shares..KEA found oil but couldn't make the find commercial at the height of oil prices..those are the facts, if they had concentrated on the PUKA find all those years ago it might have been different..a fire sale will ensue, shareholder value will be nominal..
Why is this? These are things to consider when looking to invest in a share that has lost upwards of 95% of it's value in such a short space of time with no significant progress except more dilution & no real activity from BOD's except salary taking..