Member Info for Spikeyj

trimmed that 5% trading stake. but
hope to get it back before too long.

(keeping the rest all safely tucked away.)

they have zero reserves & no discoveries at barracuda, with all those
prospective numbers being on an unrisked basis too. and ADME has
no cash to develop anything, & zero credibility to attract enough cash
to do anything meaningful. all they managed at the last supposed
placing was enough cash (on a net basis) to pay about two months
worth of pay & perks, with nothing left over to actually do anything.

? how on earth is this company still a going concern??

back on 21st jan, i estimated that the last placing
would see them through to about the start of april.

nearly there now … so let’s see how many more
miles they can squeeze out of the empty fuel tank.

lol, i have plenty of patience for the things that matter to me, frobert.

but ADME is v/ rapidly running out of time for yet more fund-raising.

“Xodus has reviewed the relevant available Barracuda
data and has NOT identified convincing evidence as
to the presence of light, producible hydrocarbons.”

(emphasis added by me)

… no wonder they didn’t put out an RNS about this CPR last summer, as
originally planned! - it utterly fails to support osa’s implausible puff &
guff about ADME getting 4,000 bopd from a first drill in Q4 ‘21. ? i guess
they have put this out now b/c they have nothing else they can ramp with?

given ADME’s previous playbook, the next step might be to try to
RNS about some supposedly rich provider of finance that ADME have
persuaded to come on board .. that no-one will have heard of before,
but who will sound a teeny-tiny bit like someone genuinely rich that
people have heard of … but who will then totally fail to stump up any
meaningful finance. (OPDC, sheikh & DBI spring to mind as previous.)

they will be scraping the bottom of the barrel for mug pis
stupid enough to fall for it this time round, although tbf
there is a pretty thick sludge at the bottom of the AIM pit.

blimey, if that was the good news, frobert, then i‘d hate to see the bad!

they will have almost zero cash left, imo. they desperately need
to do another placing very soon indeed, but if that was the news
they wanted to base it on, not much hope. if they can’t place
above 1p (lol), they will need to make any placing conditional
on a capital reorganisation as ADME shares are 1p nominal value.

all rather nice really. shell in a sweet spot.

sold 10% of current holding just for the
heck of it, but happy to sit with the rest.

growth & quality. happy to stick with it l/t (‘though
playing around with 5% of my AZN stake to trade).

watch the volume also … s/price up but only on 1 million trading, share
price down yesterday on 3.2 million; - yesterday more ‘active’ than today.

bucket shop view on FCSS:

https://www.hardmanandco.com/research/corporate-research/time-greedy-when-others-fearful/

but … wider cautionary comment from GS (via times):

https://www.thetimes.co.uk/article/markets-may-be-heading-for-bigger-fall-goldman-sachs-warns-fqkp3hxf7?shareToken=e91c1cc08c55c85117f192fa8af1009d

& sold those, thank you mr market, but
keeping the FCSS on a longer term view.

bought a few, small at this stage.

looks more like a dodo to me.

& one last nibble for me, thank you.
but no more now, enough of a position.

i guess the emerging prospect of all-out nuclear war between usa
& china is putting a slight dampener on the share price. funny that.

ginksy started posting on ADME a year ago this weekend (from 12th march ‘21)

share price then was 4.15p …ginksy has remained consistently positive about
ADME, all the way down to current 0.70p one year later, more than 80% lower.

i think he’s a little bit too busy operating
one of his avatars over on the EUA board.

from yesterday:

https://www.thetimes.co.uk/article/prudential-stuck-in-continental-drift-5f5rpqk03?shareToken=d05055c0effff5a73d28e3df305b781b

added some myself this morning.

(just have to hope china doesn’t
invade taiwan relatively soon …)

added.

bought a few.