Member Info for shamI89

Needs his/her head examining this is dilution on industrial scale leaving nothing for existing shareholders.As everyday more shares will be issued not to mention warrants.There will be consolidation at some point and then rinse and repeat.Now they are placing to even day to day activities.

Are still buying this pos, neverending placings as far as you can see.

Or its bondholders way of telling that f at **** to prove his bs otherwise they would pull the plug.Tom Winnifirith was right these assets were worthless and someone has made hell a lot of money.

That is effectively 90% dilution, but comedy wont stop there as there would be consolidation followed by next round of placings.

Problem is you still have not grasped the situation fully, these assets are worthless as they were used to fleece private investors and creditors.If they have nearly doubled the share issue to raise money for "working capital requirements" than rest assured that there is no hope that bondholders would be paid.

Needs to have his head examined, there is no equity value left and company has entered a vicious cycle of never-ending "death spiral placings"

Keep faith and "top up" tomorrow as rest assured there will tons of mug punters trying to trade it tomorrow.

It is pointless exercise as all of class actions I have seen amounted to nothing.But good luck to those considering it

Stump up cash if they believe in assets and in my opinion these assets are worthless. Arthur could fool everyone for a limited period of time.

Arthur is a serial conman I remember him giving some really bullish interviews about a "wild cat drill in lieberia" needless to say it was a duster which cost shareholder's tons of money.

Problem is we are not talking about couple of millions they need they have to find money to pay off lenders and bondholders. But that is not end of it these assets are loss-making so company would need to turn to investors to fund day to day activities. Problem is they have wasted huge amount of money to buy these worthless assets and Arthur knew about it right from the start.

You are wasting your time here Fastfood, don't you think these lot already know it. But it does not fit their agenda so they will come up with all sort of scenarios to suit their agenda.

Company would have received RBL by now if there was a slight decent chance of these assets being any good. Oil might be there but cost of extraction is way high for it to be economical and that is where "death spiral financing" came into play. Arthur knew about it but decided to fleece as many mug punters as he can. If bondholders and lenders believed that these assets were really god they would not have pulled the plug.

Some bottomfeeders are trying to here.After what transpired over last couple of days I dont think any sensible trader would touch this with bargepole but again that does not reply to mug punters.It can get suspended at any mintue now.

His bearish calls have been spot on most of times and can see tyrough bs sprouted by CEOs

If some money can be retrieved it will go to bondholders and lenders leaving nothing for shareholders but rest assured that we will have some mug punters willing to take a gamble even now.

As there is a pattern , buy a worthless asset at highly inflated price through placing and use some "twitter influencers" to lure in some mug punters, throw loads of sh** at market, set a breakeven production target and get into "death spiral financing" arrangement.Milk it for few years and move on to next big thing.There are quite a few companies like vast,upland resources and many more which will cost mug punters hell a lot of money.

These assets are worthless, how can you trust BOD when they got into that death spiral funding and if these assets were going to generate some money then JV partner would not have walked away.

**** arthur has been at it for years.he can walk away with big amount of money while our mug punters have been left with nothing.

Now we know the reason why Arthur was being secretive about production figures, bondholders were happy as long as they could convert debt into shares to dump them onto mug punters but realized that game was up once JV partner pulled out.