Member Info for skyfarmer

The Oil price will probably start rising again now as the economy starts to pick up again.
Wouldn’t be at all surprised if it was $65 a barrel again in a couple of months?

MNRG: Circular publication and Notice of General Meeting
https://www.londonstockexchange.com/news-article/MNRG/circular-publication-and-notice-of-general-meeting/14751923

Found this in the MTF website:
Cash burn
The company’s operating loss for the six months to 31 March has dropped, from £3.87m in the same period last year, to £1.56m. But while that might look good, it’s apparently all down to “lower depletion and impairment charges.” Administrative expenses rose from £0.93m to £1.56m.

What seems more significant to me is that net cash outflow from operations climbed from £1.76m last year to £3.45m. And though costs of exploration and asset evaluation dropped from £4.95m, the latest £3.31m outflow was still a significant chunk of cash — for a company that has precious little of the stuff and isn’t making any profits.

Overall cash outflows totalled £5.15m, down from £6.79m, leaving cash and equivalents of £7.2m on the books at 31 March (up from £4.5m in 2018).

Dilution
The obvious question is how is all this cash burn being funded? And the equally clear answer is through new share placings, the most recent of which raised £3.5m (which came after the period end and isn’t included in these half-year figures).

The problem that raises for existing shareholders is dilution. Whatever profits the firm might or might not eventually make from its assets at Horse Hill, that’s being spread across more and more shareholders, leaving less and less for each. When that continues year in, year out, it tends to lead to a share price collapse — which is precisely what we see.

Not sure if this has been mentioned before:

@MetalNRGplc
encourages shareholders to view the Lake Victoria Gold website for information on the proposed transaction to acquire 100% of the issued shares of LVG
?? LVG is the 100% owner of the Imwelo Gold Project

There's a good chance they are out now

Lets hope Oil prices will pick up when all this is over and we are back to normal, which could be around March next year.

GLA

4,910,115 Sell* just before the bell?

MMs playing games again?

Going down today, Hopefully no sell off

Unlikely we'll be shut out for over a month?

Markets are down slightly today but should bounce in the next 24hrs.
Should be back to our previous levels shortly

16:42:17 5,000,000 Buy* 32.70k

Nice

1,500,000 Buy* 0.60 0.70 10.05k
1,500,000 Buy* 0.60 0.70 10.50k

Two more large Buys showing?
1,500,000 Buy* 0.60 0.70 10.01k
1,500,000 Buy* 0.60 0.70 10.05k
Keep em coming!

0.85 paid

Interesting to see no mention of Water on the RNS?
Maybe its all evaporated?

Ok Mirasol, I have to agree with you on this one

0.83 paid

Looks like all those who were posting in the hope of getting in at under £1 maybe disappointed as the resistance point appears to be around £115.

GLA

Agreed DoneK

In the light of recent comments:
I think we need to be careful when making unsubstantiated claims and sweeping statements based on pure speculation?