Member Info for SickOfTheRatRace

RK every time the trades went past 500,000 a 500,000 "sell" at the midpoint was dropped in to cover it.

Suggests they already have a limit sell order dropping in half a million chunks.

Great RK looking forward to your posts here.

and welcome to whomever is loading up in 166/167k chunks this afternoon!

Plus for anyone reading we will of course have a level of debt to service that needs to be taken into consideration to pay back the plant.

I wouldn't want to be accused of ramping but as far as P/E ratios go if the company has 644m shares in issue and achieves an income of $100m a year (£77.34m sterling) as targeted in the interview, then that's earnings of 12p a share. A P/E of 5 values at 60p a share and P/E of 10 values at £1.20 a share.

The only problem is we have no figures in terms of operational costs to deduct from that $100m at this time but you can deduct a percentage of your choosing and still get a price many many multiples of the price today.

Yes indeed. I think some dilution will be inevitable, even Anthony conceded that dilution is not 100% off the table but will be value accretive - only issue with that is of course the phase 2 plant would be value accretive so could fall under that. Given the company size it would seem unlikely they could fund phase 2 100% with debt instruments but it sounds like we won't have to wait too long to find out, Anthony said these talks were already quite advanced.

One ultra positive from the interview were staff taking shares in lieu of salary. That tells you all you need to know about the belief they have in the share price going forward. No big salaries on loss making operations unlike many junior outfits which is great to hear and should give shareholders a lot of confidence in the management team - they know where this is heading and we are also beginning to see the full situation unfolding.

This is certainly a medium term growth share and if they hit their $100m income target within five years it should also be a great long term regular dividend payer - a dividend more than the current price of 2.95p that's for sure.

Crux interview with the CEO

https://www.youtube.com/watch?v=kkTD770mewc

All I can say is that I consider BBN to have the highest integrity when it comes to share analysis. I have been involved in another share where BBN has been the most respected contributor for many years and has a knack for seeing the angles long before most.

Of course every investor must make their own choice going forward and I wish all investors good fortune for the future here.

@jippyjazz I think it's because the original statement was ambiguous and could be read that the banks had signed engagement letters but had started work before doing so.

All the RNS today does is make it clear that the engagement letters haven't been signed, but the banks are still working as before so nothing has changed.

@Floppyjaloppy with respect you cannot accurately predict there won't be a deal announcement in 30 days any more than another posted can predict there will be, unless you have access to inside information.

What we do know is that there are ongoing negotiations (potentially with multiple interested parties) and those negotiations could conclude today, next week, next month or next year and the result could be positive or negative.

All that matters right now is that there are negotiations and that a deal may be imminent. Having been involved in another share where "imminent" was used to describe awaited news for more than two years I have learnt that fretting over timescales when the company is dealing with third parties is pointless. In the last interview it was made clear that EUA doesn't need to rush - although I am sure if the right offer is on the table they won't delay.

Not yet

Rules are bent and broken routinely, any long term investor will have seen questionable behaviour in any number of shares they have been involved in. The problem is when the regulator and enforcer of said rules is lax in their enforcement. Plus with AIM the onus is on nomads to enforce the rules.

If they are buying an asset then it makes little difference, however if the suitor was interested in both our assets it may be simpler and more cost effective just to take us out completely - particularly if that was the plan all along and the buying started at 0.5p.

As for TR1's, they are routinely abused, I have been in shares where declarations were not made or made many weeks after the event on the basis that they only declared once they finished buying not at the point they crossed the threshold. Plus it is trivial to hide behind nominee accounts to bypass this if you have a number of entities you control.

It can affect shareholders in a takeover situation because if the accumulator was able to do so at a cheap price then when news of a potential takeover causes a large uplift in share price they can use those cheaply accumulated shares to sell down and suppress the price from their share pot, keeping the price artificially deflated to secure a cheaper buyout price thereby cheating other shareholders of potential value.

As we are getting nostalgic, my first purchase was for 26k shares at 3.8p in October 2013. I trust a qualify as a LTH! Think I was underwater for the best part of 3 years from 2014 - 2017 with that one.

Lowest I managed was 155k at 1.3p in November 2016 which was very near the all time low. Highest was 8k at 37.84 this year so well down on those!

RK I used to be here all day everyday and read every post but primarily due to the decline in this board earlier this year I now check in once or twice a week. Makes no difference to my shares though, still holding long and strong for what I still believe will ultimately be the greatest success story on AIM since ASOS.

"2015/16 sees the return of the Skinnymalinky, our classic steel road bike."

Another coincidence?

What absolute rubbish are you posting? AMUR is AIM listed and was down 25% today.

I think it's safe to say given the posts in the last hour or so that a bunch of shorts have been opened today.

"Weldo #HERBALIFE24H is a cyclist from Presidente Kennedy, ES"

Coincidence?

17th Sep

Initially, we planned to drill 10 infill wells to bring the total number of MJF wells to 16, however after a further analysis of the payback from wells drilled on the MJF structure we have decided to move directly to a programme of 18 new infill wells, which we are targeting to complete by the end of 2020. This will bring the total to 24.

6th Nov

As previously announced we have embarked on an 18 well infill drilling campaign targeting the end of 2022 to have in total 24 operational wells on the MJF structure with the capacity to produce at the rate of approximately 8,000 bopd.

So which is it? There is a massive difference between 2020 and 2022. Hope this is a typo.