Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Don't like this company initiative at all - on p.29. That would mean the shares would no longer be outside the scope of inheritance tax (for those of us who are concerned with such things).
High dividends.. DGOC currently trading at 30% Net Asset Value...
"Robin Haworth at Stifel, said: “Our thesis on Diversified is that the gap to our 160p net asset value will close as the market gains comfort in the business model."
http://www.cityam.com/273950/oil-and-gas-firm-diversified-could-benefit-brexit-boss-says
I didn't need any more reasons so I bought more today on the dip at just below 112p
From the DM article:
"The stock has done well but not well enough, according to Hutson and his co-founder Robert Post. They already owned 20 million shares each but recently bought another 450,000 shares between them, when the price was £1.10. Other directors followed in their wake."
Good old 'Rusty' is getting impatient. And that's good! He is not the only one. Let's hope the re-rating will begin with the release of the results for the year end on Thursday. And maybe even higher dividends than the 3.3cent/quarter will be announced as they realise that their profits are getting even bigger?
He also wrote yesterday:
"Bango’s shares have ... [crashed] ... mainly due to the company revealing that although it turned cash profitable in the final quarter of 2018 ... the decision to take revenue on several new contracts for subscription services as long-term higher-value annuity revenues rather than one-off upfront fees meant that it will not be CASH PROFITABLE for the year as a whole."
Is it just my lack of expertise here - how come Bango's CASH profits change due to a slower revenue recognition? There was me thinking cash wasn't cash unless is was the bank. I'm sure Bango didn't ask their clients to delay their payments because of their policy change.
Thompson wrote yesterday:
"True, it’s been a rollercoaster ride, but I continue to see 100 per cent-plus share price upside if Bango delivers on the 2019 estimates."
'Continue to see 100+ % share price upside'?? Hang on, 100% on 95p is only 190p. Why was he ramping just as aggressively when the share price was 250p a year and a bit ago, when the price was 30% higher than his current conditional blue-sky target price? And with a straight face? Something has seriously broken down in his analytical head.
"Buying 1,000 MANOLETE PARTNERS PLC ORD GBP0.004 shares
A firm electronic quote is not currently available for your order"
Bordering on to market abuse to refuse to even give a quote when EMS is 1500 shares...
These MMs bought tens of thousands of shares yesterday yet refuse to even give a firm quote for 1000 shares... What a useless way of trading shares in the 21st century... Why can't we retail investors all have a CHOICE with direct access to the LSE electronic market like in most other stock exchanges?
Sounds like a good employment. Now they just have to get on with implementation of all their promises. Whatever they do, they must NOT make any further strategic investments however 'synergistic' and clever they seem to be. Otherwise we will drown in cost before ever reaching positive and steady PROFITS.
The more this "30 days!!" is screamed out here, the lower the share price - caused by panic and doubt. That must be the de-ramping game many here are playing. And Bramhill's estimated news release "about early March" is not believed in spite of constant repeats here that Bramhill is the most trustworthy oil CEO in the UK.
Day in and day out... What a bunch of "are-we-nearly-there" kids we have in the back seat on this journey...
article dated 24 Jan 23:00 GMT:
http://upstream.tomcat.nhst.kunder.linpro.no/hardcopy/1680419/results-due-within-days-on-egdons-east-england-probe
Full text (for non subscribers):
https://pbs.twimg.com/media/DxwiW71X0AAncn-.jpg:large
«According to David Bramhill, executive
chairman of Union Jack Oil, a 22% partner
in the well, said results “WOULD PROBABLY
BE KNOWN” BY ABOUT EARLY MARCH.»
Got it? EARLY MARCH.
Tang says he is a "LONG TERM supportive and ACTIVIST INVESTOR"
Hahaha! He doesn't even know that he is contradicting himself, the little clever clog he is. A shareholder activist is a person who attempts to gain control of the company and replace management or force a major corporate change.
So what does HE do with our money instead of being an activist? He pays and pays into endless bottomless pits and sits for a decade or more and we never hear anything until the investment is written off. Tang is not an activist, rather instead a total passivist void of any analytical skills.
In fact, Tang doesn't even know how Polo itself describes its activities:
"Investments may be made in companies,
partnerships, joint ventures and all types of
assets including unlisted and listed equities,
securities, commodities, bonds, debt
instruments, royalties, options, warrants,
futures and derivatives."
Couldn't be further from an activist shareholder if he tried.
I'm afraid Tang is just a lightweight chancer who wanted to become a big boy in a small pond by purchasing Polo shares at a ridiculously high price from a clever guy who outsmarted him. Tang paid, I think it was, 40p per share for his investment in Polo so for him the current share price is so pathetically low that he mentally no longer sees Polo shares as an investment but instead as CASINO CHIPS to be gambled on all-or-nothing ventures like coal mining/coal power in Bangladesh and a "victorious" arbitration case in phosphate resources in Tunisia. The rest of the money is sunk into other "projects" and "loans" to even riskier dreams and therefore completely stuck for the foreseeable future. As a little bonus in his casino project, Tang helps himself to travel the world on OUR expense for free, plus getting his fees, costing us shareholders tens and hundreds of thousands of pounds, to these various roulette tables plus annual general meetings in exotic faraway places where no ordinary shareholders can attend without spending up to several thousand pounds in traveling costs, where he awards himself and vote through stock options that could give him practically total control one day if the share price ever rises again.
And now Tang the great Datuk has the blooming cheek to say he will waste company time on contacting "the author in order to clear up a number of inaccuracies that appear in the article."... He should weep in shame instead.
Phronimos Capital is not a Polo shareholder.
https://www.investegate.co.uk/phronimos-capital/rns/phronimos-urges-polo-resources-to-return-capital/201902130700048310P/
Today's RNS (RNS Number : 8310P) about this should really have been lodged under POL.L to be visible for the relevant audience.
As I understand this such a tender works almost like the opposite of a book-building process used for share issue placings on proper exchanges (not AIM of course where placing shares go to the lowest bidding bestest matey cronies who the flip them next day)..
This is definitely very interesting. However I believe Phronimos is unrealistic with their suggested 12p buyback of 20% of the stock. Why? The majority of Polo shareholders today would be ecstatic to sell their shares at 12p so which shareholders will be the lucky chosen seller at 12p? None of course; a buyback tender auction open to all would quickly end up with a price substantially lower as enough shareholders probably would be willing to sell at half of 12p. Don't forget, Polo's only true Net Asset Value today is in the 138,9 mill shares in Hibiscus Petroleum, the rest is ... frankly, worthless shite.
What's keeping Tang from issuing an immediate RNS after receiving this letter containing such a price sensitive matter?
Me neither of course.. One thing is reaching total depth - that is scheduled to happen soon - another thing is logging and testing afterwards, that could perhaps take a couple of weeks for all I know. Of course if the well is dry they will tell us straight away.
tintin,
Upstream article dated 24 Jan 23:00 GMT
http://upstream.tomcat.nhst.kunder.linpro.no/hardcopy/1680419/results-due-within-days-on-egdons-east-england-probe
Results due 'within days' on Egdon's east England probe
The results of Egdon Resources’ Biscapthorpe-2 exploration well in eastern England will be known within days, writes Iain Esau. According to David Bramhill, executive chairman of Union Jack Oil, a 22% partner in the well, said results “would probably be known” by about early March.
Subscription-only access I'm afraid.
"no way"? I was just quoting the linked article...
greendave,
Why should we expect results "tomorrow" when Bramhill has said results "would probably be known" by about early March?
https://pbs.twimg.com/media/DxwiW71X0AAncn-.jpg:large