Member Info for Spikeyj

i might actually get round to tuning in to that VOF presentation on 4th november.
broadly speaking i am happy to sit back and let this one use their expertise on
my behalf re vietnam, but there’s relatively little mainstream media coverage
of this particular investment mini-universe, so a little overview would be nice.

… hoping to sell some before next dec at 610p or above, pretty please.

sold a couple,
but still long.

the thing the auditors keep accepting re going concern (i.e. letting them
get away with) is an assurance from the BoD that the company still has
a “reasonable” expectation of being able to raise yet more cash. but if
it becomes impossible to arrange yet another placing, they are kaput.

i don’t think there is any meaningful floor to the ADME share price.

their overall liabilities far exceed their capacity to generate cash for
the company, so they are perpetually teetering on the brink of failing
as a going concern, then suspension & a total bust for shareholders.
they have only avoided this so far by placing after placing, with various
‘news’ stories generated along the way to plump up the price for each
new placing. they *might* manage this again, but there is no guarantee
at this point that they can actually get yet another placing away again…

… liquidity and interest in this share has dried up, and there are many
holders out there seriously underwater who are struggling to get rid of
their holdings in dribs and drabs (hence, those morning 100K sells when
the liquidity permits). potential placees will only take shares in ADME
if they are given a hefty discount (low share price, & maybe plus warrants),
but *also* they would still need to see a realistic prospect of good liquidity
to participate; there is no point taking shares that appear deeply discounted,
but which cannot be sold to cash in. plenty of previous placees got trapped.

ajmho.

12:56, more than reasonable.

hopefully tim lyle is a long way from the action on that other share.

the bit that seems ropey to me is the way that ZM has puffed
that ‘miner’ as a supposedly independent chartist, without
that company or ZM highlighting the money he receives from ACF
who were paid by that co. to promote their stock (given that even
ACF acknowledge their ‘report’ is a *marketing communication*, !,
not independent research, and that this specific report is *not* !
required to meet FCA regs, even though their parent company is.

the odd thing is, that EUA as an AIM share is in theory subject
to better checks and balances than WRN was - since EUA has to
have a nomad scrutinising their RNSs etc, whereas WRN was on
the main market, but crucially **not** on the premium section
of the main market listings. main market shares with a ‘standard’
listing are effectively subject to lower governance requirements
than AIM shares. … the snag is, AIM governance partly depends
on how ethical and effective that particular nomad is - and some
companies on AIM get rid of nomads who try to play by the rules,
and deliberately select a nomad with lower / sloppier standards
who will turn a blind eye so long as they get paid. caveat emptor.

good luck and good health.

AZN, still
looking good,
feeling good.

(which was nice)

one rather downbeat possibility is that those were indeed both sells, but
were actually being worked as orders over the previous day or two - i.e.
trade is time-stamped when deal is completed, but may have been worked
in bits and pieces for a while before that, showing in apparent s/p drift down.

(reason i say ‘‘downbeat’ is that if it really did take that long
to execute on £20K of shares, that’s pretty grim re liquidity.)

the lack of any impact on bid side strongly suggests a roll-over.
however, it was an interesting ‘coincidence’, the numbers of
shares apparently involved relative to those BoD purchases…

(i’m not sure i really believe in coincidences on AIM.)

although if you are right that either peter francis or osa himself sold
those £20K yesterday, does that not give some pause for thought about
where this is headed, even taking into account panoro/petronor etc etc?

- as both peter & osa would be *very* familiar with the issues & possibilities
under discussion — but fully accept, your money, your choice/risk. atb.

fair enough, good luck.

F fair point on those discrepancies share numbers, good spot. A amazed bid side didn’t sink further on that.

dan, even if you are still long-term optimist about aje potential, would it not
have made sense / still make sense to sell & sit it out until they’ve attempted
the next placing? - there will be plenty os shares available to buy back.
long-term patient holding with a cash-guzzler like this problematic?

just a roll-over dan.

anyone trying to sell £10k would get a much
lower bid at this point. lobster-pot share.

i don’t thnk it really matters whether they’ve ‘lost’ barracuda or not, because i think
barracuda is a near worthless bit of swamp anyway. the hope for ADME was that
they could use all the guff about a CPR and first oil production in H2 2021 to pump
up the price to get a substantial placing away. and then i think they would simply
have moved on to some other story they could spin about some other proposed
deal to get yet another placing away afterwards. but that plan has manifestly failed,
since no-one actually got that excited about barracuda, & there is near zero liquidity
now. i am slightly curious whether the CPR hasn’t been produced because ADME
didn’t like the initial data, and so decided to stall it deliberately, or whether ADME
simply couldn’t afford to pay for the work involved in a barracuda CPR. … either
seems plausible to me, however, ADME is never going to own up either way. jmv.

hard to see how they are going to persuade anyone to hand over more cash to this
company now. you’d have to be a very brave pi to take a chunk of any placing now
even with a v chunky discount to the current weak 1.80 bid. suspension looming.

sold a few, last few weeks have been very pleasant.

long. patient.
quite possibly
wrong. (lol.)

hi clued, my post about dividend policy wasn’t intended as a negative
comment on the overall prospect for total returns from SSE, i’m positive
on medium/long term and i am long here. but i’m focused on total returns,
rather than dividends only, & was just highlighting that it’s entirely possible
that the company will want to make some reset of dividend policy going
forward, in relation to its broader capital / debt structure, financing costs etc.

in again for a few.

added a bit recently.

partly FX issues / fears?

… sentiment towards cable not so
positive these days, rightly or wrongly.

https://www.thetimes.co.uk/article/traders-rushing-to-place-their-bets-against-sterling-w77vpqxk0?shareToken=306b041801c5f44fa8af34ffe16275bf