The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Story company spots an "exciting opportunity" several placings later mug punters find out that this "exciting opportunity" was not so exciting but hey ho company has moved on to another "exciting opportunity".Rinse and repeat.
Cybertron I dont think you have any clue about exploration drills.As there are four and five stages after acquiring the asset.Lets for arguments sake say that "government" has ignored all of these major oil players and have chosen upland resources as parner.Upland resources would need to fund drilling and prove up resources through exploration drills. These sort of drills would need atleast couple of millions and not a few hundred thousands.Having said that a duster would be end of this journey.Now here comes the question an asset has been acquired, no exploration activity has taken place and no oil has been proven and company has "£109k" assets and a "mysterious buyer" emerges who is happy to pay £143 millions and bod rejects it without consulting shareholders, all placing shares have been dumped and warrants have been excercised ncad then BOD realises" that takeover " bid was bogus.
Goodbye ring 111 right now as you will be spending many sleepless night and for God's sake learn to do your own research.A part ownership in a technical report is not even a first stage and these sort of drills dont cost a few hundred thousands as you mug punters are led to believe. Why did bod not consult shareholders before rejecting this offer as 90% of mug punters would have been happy to take half of offered price.
You should have chosen"Iamthick" as moniker as after spending years stage they have progressed on to is a " part ownership" in technical report which is worth much less than "£109k".Problem with you mug punters is you dont research , first an asset is secured, then seismic data is gathered, then potential drilling targets are identifies and then cos is determined before commencing any drill. These sort of drills are not cheap and can cost couple of million dollars atleast.But company is not even on first stage and mug punters are going crazy.I am waiting for results as I do suspect that company has a few hundred thousands even less.
As I suspect warrants and placing shares are being dumped onto mug punters.But heyho if someone believes that a fully funded "asset" would be given for free and not only that a buyer will be lined up too.
To this "p&d". There is no asset, no money and mug punters believe in "potential".Meanwhile twitterati who pumped and dumped it have long moved on and rest is history.It does have a long way to fall as BOD can release as many rampastic RNS and tweets as they like , mug punters would want to see some solid progress and there is no "progress " here.This is a cash shell with part ownership in technical report and couple of hundred thousands
Problem is this management cant be trusted anymore.It is not about them requiring extra funding, it casts a huge doubt on everything they have said, production targets and design. Among three major players only glencore has experise and money to finish project and would bag it.Equity is worthless.
He is too thick to understand that,how can company withold this information for 8 days and a private investor finds out about it through TW.Then we receive an RNS after market hours.These mug punters think this fiasco was engineered by a private investor to have a quick "trade".....Not long to go know, I am sure company was given plenty of time before this WUP was served.
You are wasting your time here Toffer.These mug punters tend to learn hard way.A company is struggling to pay small fee and is about to go under and Mug punters think it will its assets for billions.Funnily enough them assets were bought for peanuts.
Where is "asset" and where is money going to come from to fund drilling.Hahaha mug punters are grouping together to remove my posts but why would invest in a company that has no asset, no money and a partnership in technical report?