Member Info for Simon_Said

Taken some more in the dip. Volumes are low, the 'big' trades are only relatively so. There really isn't a huge amount of shorting at this end of the market. Really it's just that this stock is considered risk-on, and investors are staying away till it clears. Remember there are TONS of good smallcaps out there for people to invest in, that this has to compete with. But the main political question as-always comes down to the ridiculous idea of huge EU arbitration case over a mine that's not even in the public spotlight anymore. Babis isn't completely mental, just a populist. This too shall pass. Happy to keep accumulating on dips.

Good to see a string of small PI trades buying the dip! I'm happy to sit on this one for now. Any week now there will be an official end to the political silliness (unofficially it's already clearly passed), and then there is all the good news that's happened in the background since then to take effect. This is a lovely coiled spring to sit on for a bit.

2 reasonable sized sells have taken it down. The share is so so very illiquid that c�35k of sells was enough to take the bid significantly lower. Equally takes very little to move it back up. It's a sleeper share till news, then it's a firework.

Lol Groucho that's only 4 working days ago, not that bad!

... And a really confusing one at that!

The placing should not subtract from any future valuation. On the contrary - it was a placing for growth. They had several million pounds still left from the previous placing. The idea is to use the cash to purchase value-accretive assets. Sure, shares in issue is larger, but using the classic pie analogy, even if your proportional slice is lower, the size of the pie is larger. It's a common error when assessing the impact of placings. The placings that really do dilute shareholders down are cash placings for operating cost/mortality, as they don't add value to the business beyond keeping the lights on! That is not what this was.

In the previous placing, the shares were admitted by a GM on the 12th of October 2017. Deal announcements then followed on 1st November (Corallian) and 4th December (Danube). This isn't an exact measure, but let's call that a range of around 20-50 days. These new placing proceeds were signed in at the GM on 9th March 2018, meaning we're just now entering the period where a deal announcement is likely (some slack given for end of tax year and Easter break). When I spoke to joint CEO Stephen Williams at the GM, he explained to me that last time they negotiated deals, they found they got far more attractive offers after the placing had cleared and the funds were sitting in the company account. Accordingly, he said to expect some negotiating time after the GM for them to go to the companies they have been talking to with cash in the bank and try to get better deals. Before today I'd have said expectations of announcements were premature, but as of this week we're now in the 'zone' where I'd expect an announcement any day. Exciting times.

Lol earache! As I said, when sentiment got extremely negative and even the stock's bulls were starting to trash it, I had to sell. I've seen it before sadly, when sentiment gets like that AIM shares suffer, regardless of whether it's 'justified'. Low liquidity shares are 90% sentiment in my experience. I could easily have been caught out by a good news announcement during that time I was out though. I ummm-d and ahhh-d nearly every day in the interim! But seeing that ridiculous dip to the 17s I could no longer resist. Never for a moment have had any doubt that EMH will mine Cinovec and I felt at the very least that dip had to correct. Thankfully it has. So mainly luck with a smidge of judgement. Lol.

Crikey. I think I bought back in on the right day yesterday! It's clear from Keith's tone and ongoing work that they still expect the political turmoil to get cleared up, one way or another. Any argument that Babis will simply railroad EMH out of Cinovec is still highly speculative and the person arguing it must answer better than 'it'll go to arbitration'. Indeed it would in theory - but given the legal right is not in dispute, Babis would know full-well that he would lose. What would be the point? CZR won't leave the EU over such a marginal issue, so that's that. Silly argument. I sold here some months ago because sentiment turned and I know what that does to AIM shares. I was very sad to do so and sadder to see how the price then went. I have always said that eventually this will end with increased mining royalties and some sort of tokenistic state involvement. But some silly pseudocommunist land-grab? Pull the other one. If this board gets as toxic as it did before, I'll be ducking out as it was quite unpleasant. But I will be sticking around this share.

Most interesting part of RNS: "As part of the planned work programme, the appraisal wells are also intended to be producer wells. Danube can use the abundance of nearby infrastructure to readily monetise gas, thereby creating cashflow for Danube and subsequently Reabold. This cash can then be used to target further upside on the licence on which prospective resources of 300BCF of gas and 45 MMbbl of oil have been identified by the operator." Sounds like an intriguing change from the business model for this asset. Whilst most assets are to be bought at appraisal stage and sold as production-ready, it appears the 2 Parta wells will be kept on as producers to provide ongoing cashflow for the company toward its other ventures. This makes an awful lot of sense, not just in terms of ongoing cashflow, but also because of the position of these wells and low-cost access to gas distribution infrastructure. Gas is an interesting commodity right now, considering the Russia situation and their stranglehold over European supply of it.

I'm back in after a few months watching this one from the sidelines. Saw 17s yesterday and had to take a fresh punt. One breath of change in the political wind could do too much to this SP for me to resist from this low base. Hope you've all been well, SP here notwithstanding.

Only the best professional investors both hold a share, and come on a forum every day multiple times to trash it. Lol

Depends if your ticker makes % change figures against yesterday's close, or today's open price, and whether it uses last trade price or mid price. That's why everyone always disagrees about those stats. FWIW I'm seeing close price .70 and +3.70%.

Stock is already thin - buying large volumes has been difficult this morning. Spread has also tightened right up and volume is already above 3m daily average. Really weird time to try to construct a bear narrative, lol.

They raised �7.75m. They evidently stirred up some enthusiasm! Wait to see where the rest came from.

Out of what? The share, already? Lol

That's annoying, LSE blocks URLs for some sites. https://www. v o x m a r k e t s.co.uk/activity/90766/

'This is a hot share with lots of oil/gas investors anticipating big news on deals and drills. I�ll be keeping an eye on the share register as there are some unusually big holdings from big players.' https://www.**********.co.uk/activity/90766/

The new shares have been admitted to AIM successfully and the company has the new and existing monies in its bank account. That means somewhere around £9-10m cash of a c£19m mcap. They always boast about the quality of their institutional supporters and we'll soon learn exactly which instis participated, but I'm expecting the same names from the last raise as featured on the RBD website (Major Shareholders list). These institutions do not by and large flip large numbers of shares for a few % either way. The retail component of this raise was miniscule. As such there is no reason to suspect a substantial amount of 'flipping'. What you can expect is a lot of RNS's over the coming weeks with new asset deals and fresh NPV numbers and dates. This is a very exciting period.

The big sells are delayed trades (mix of buy and sells) from Monday. The placing shares didn't gain admission to AIM till Tuesday. The large trades are mostly in pairs and appear to relate to tax planning (you'll often see this in late March as people take losses to offset against CGT etc). Simple way to spot a genuine selloff: you'd see severe negative price movement! Since this was strong on Monday and flat on Tuesday and again this morning, that's a pretty obvious sign that the balance of trades is more or less equal.