Member Info for spike501

"They found nothing so how will this sp go to 10p"

30 bagger - will take that.

"Hugely undervalued, even if we hit 10% of the £1 billion that’s still a 10 bagger from here."

It's not as they are going to be issuing more shares.

"Itsawrap x spike ok if you are so bright what would you two have done to improve this share"

Not gone to the US - there is a huge amount of private and public oil firms in the US with virtually unlimited capital. What are the chances a sub scale UK company can go there and find opportunities that all these US companies can't. Bramhill has already found that out with Nighthawk Energy over a decade ago and there were still some opportunities at that time as shale was relatively new. The only thing the US was good for was to offer up a new story to fools to keep the gravy train going for management.

They should never have done buybacks or paid dividends from Wressle, it was never sustainable, they should have retain capital for development of UK assets and while things are difficult for development savagely cut running costs.

They got unlucky with the political position around West Newton - that almost completely killed any investment opportunity, this has been uninvestable for years

"at least they seen the light here in UK and got out to try there luck elsewhere."

Indeed and thankfully they have David Bramhill to lead these new adventures in the US after the outstanding success he had with Nighthawk Energy.

"TBS You sound a very bitter person! Have you lost a lot here? I suspect so!"

Pretty much everyone has lost here and no doubt will continue to do so - well apart from management obviously.

I would have thought a Bramhill hot air to Bitcoin could be far more effective. Running costs for Bramhill are only a few hundred thousand per year.

Well I must say I’m utterly shocked to see the West Newton consortium to jump on the Bitcoin bandwagon.

Credit to Tom Winnifrith for the below..

CLAI most likely had their Prospectus rejected by the FCA as due the fact they have no material existing business or balance sheet assets it was determined by the FCA that the raising would constitute a reverse takeover and CLAI could not meet the conditions required for a reverse takeover.

BMV will not face this hurdle as they have material existing business and balance sheet assets, so the raising will not be considered a reverse takeover.

Uncleal - the new licenses do nothing to reduce the risk. If this drill fails, the only source of cash Wishbone will have to complete further exploratory work will be back to bucket shops placing at bombed out prices, with substantial dilution.

“Problem is mdg you are losing 50% in tax if you but btc direct long term”

Why 50%? Capital gains tax is 24% top rate - it’s less than the corp tax that companies will pay on profits and it looks even worse if you factor in dividend taxes.

Regardless of which you are paying much more here for Bitcoin if you buy at this price than Bitcoin is actually worth.

"Already 1 bagged and I hate to pay more, but the proposition has changed now 12 times as many licences around Telfer"

I wouldn't pay any attention to those 12 licences around Telfer - the only thing that matters is the upcoming drill, it's about as binary* as it gets. If this drill is good at that point those licences start to have some relevance as the company will have options to monetize red setter / raise funds for further development and it also indicates further prospectivity in the area. If Red Setter is not successful, the SP crashes back to sub 0.3 and the company will be back in the bucket shops searching for funding to continue running the business and carry out more exploration.

* I don't mean binary as 50/50, chance of success here looks good, rather its binary as in a good drill massively changes the prospects and a bad drill is return of the doldrums.

Dear Captain of the Titanic, we recommend going down with the ship to restore confidence with the passengers.

“Michael Syler Executive Chairman Microstrategy in the link below explains how he thinks bitcoin will go to $21 million for one bitcoin in 21 years.“

An obviously completely impartial observer.

However even if that is true, there are far better ways of getting exposure to bitcoin than paying 16x its value here.

“First of all you need $107000 to buy 1 bitcoin.”

Investing here you need around $107000 to buy about 0.08 bitcoins.

I’m really not sure that is a good argument

But SWC still have to pay corporation tax on any profits.

“ Bitcoin is the future and you need to research it loads to understand this.”

Then why not buy Bitcoin directly? - If you buy shares here you are effectively buying Bitcoin at 12x its current market price.

"if they continue buying at same pace which is only around 50 odd days or so. "

With what are they going to continue buying with for 50 days?

"For npv calls also need to include cash holdings. Kind of an irony that many question bitcoins value and forget to include fiat cash balances in the npv calcs. All the best"

I assume you mean NAV and not NPV. Cash holdings don't do much to close the gap between the value of its bitcoin holdings and its market cap.

You'd be certifiable to think the SWC is someone good value - the only reason to be here is to ride the hype and hope to get out before the bubble pops.

Dominance means reserve currency but apparently he also wants to replace the dollar with bitcoin as reserve currency.

Peoplepower - you're posting contradictory statements...

"He has said he backs crypto because it can improve the banking system and increase the dominance of the U.S. dollar."

and

"Donald Trump wants to make bitcoin the global reserve currency.

The US dollar as the global reserve currency means there will always be trade deficits for the USA because the US dollar as the global reserve currency will remain too strong."

Does he want bitcoin as the global reserve currency to replace the dollar as it is too strong, or does he want to strengthen the dollar as the global reserve currency?