Member Info for Stas20

Scot,

Let’s address where your post is incorrect. I’ll disregard the note of caution as it’s irrelevant and purely opinion.

Bondholder Incentives: Does the bondholder receive more or fewer shares for their conversion fee if the price is lower? Clearly, the lower the share price, the more shares they are issued based on VWAP. This creates a vested interest for them to push the price down as it maximizes their share allocation.

Shorting Impact: If they are shorting the stock in the background, do they make more or less money when the price goes down? More, of course. So, there's a double incentive: they get more shares from lower prices and profit from shorting. You mentioned, “Heights are fully entitled to short sell”—this is worrying. I had suspected as much, but if you're correct, it adds even greater reason for them to drive the price lower through trading, ensuring each quarter closes at a lower VWAP.

Dilution and Share Price: Does the bondholder’s ongoing quarterly conversion create dilution? Yes. Does dilution negatively affect the share price? Yes, again.

Attracting Short Sellers: If the market knows there is constant downward pressure on the share price, does that attract other short sellers like Citadel or Mangrove? Absolutely. This gives shorts a better chance to profit, increasing downward pressure.

Bondholder's Interests: Does the bondholder have any interest in Pantheon outside of their financial arrangement for the bonds? No. Have they ever shown any inclination to remain invested as the price declines? No. Their sole interest is converting shares and profiting by selling them, not in the long-term success of the company.

Now, as for your section, “Stas20 then raises the question of whether Heights has displayed good corporate conduct since becoming involved with PANR”: I haven’t accused Heights of anything. I simply pointed out the effects of a bondholder who continually converts shares at VWAP, and none of this reflects on their conduct.

Additionally, while I appreciate your attempt to clarify the situation, your post takes a personal tone that isn’t helpful for an objective discussion. Instead of making it personal, it would be more productive to stick to the facts and focus on the effects of the bondholder’s actions. I haven’t accused anyone of misconduct, but I have raised valid concerns based on my experience with other companies and the potential impact of ongoing bond conversions. Let’s keep the conversation focused on the factual elements rather than personal commentary.

Your personal disclosure is irrelevant to the discussion, and you’re the only one bringing up conspiracy theories.

Sirmark, I would be a little careful with this, the direction of price will give you the best indicator, however my level 2 shows most of these as sells (ordered by trade size)

Current trade summary show 64% sells thus far this morning. Personally I have no issue, I'm here for the 2 year investment and if the price drops markedly I'll use the opportunity to top up at the lows.

Time Bid Offer Trade Volume Buy / Sell Value Trade Type

09:03:22 16.06p 16.20p 16.2000p 150,000 Buy £24,300.00 Off-book trade

08:26:29 16.24p 16.30p 16.2400p 77,249 Sell £12,545.24 Automatic trade

08:00:30 16.24p 16.48p 16.2400p 70,600 Sell £11,465.44 Automatic trade

08:31:09 16.06p 16.22p 16.1144p 70,000 Unknown £11,280.08 Off-book trade

08:26:29 16.24p 16.30p 16.2400p 67,947 Sell £11,034.59 Automatic trade

08:26:29 16.24p 16.30p 16.2400p 67,947 Sell £11,034.59 Automatic trade

08:38:10 16.06p 16.20p 16.1000p 60,000 Sell £9,660.00 Off-book trade

08:13:15 16.30p 16.42p 16.3264p 50,000 Sell £8,163.20 Off-book trade

09:36:15 16.08p 16.18p 16.1439p 50,000 Unknown £8,071.95 Off-book trade

08:51:01 16.06p 16.26p 16.1880p 46,688 Unknown £7,557.85 Off-book trade

08:00:30 16.24p 16.48p 16.2400p 30,257 Sell £4,913.74 Automatic trade

08:13:36 16.30p 16.42p 16.3000p 25,000 Sell £4,075.00 Off-book trade

08:13:41 16.30p 16.42p 16.3000p 25,000 Sell £4,075.00 Automatic trade

08:26:29 16.30p 16.52p 16.3000p 25,000 Sell £4,075.00 Automatic trade

08:36:41 16.06p 16.28p 16.2000p 25,000 Unknown £4,050.00 Off-book trade

08:48:25 16.20p 16.26p 16.2000p 25,000 Sell £4,050.00 Automatic trade

08:51:28 16.20p 16.26p 16.2000p 25,000 Sell £4,050.00 Automatic trade

08:54:16 16.08p 16.20p 16.2000p 25,000 Buy £4,050.00 Automatic trade

08:55:13 16.08p 16.20p 16.2000p 25,000 Buy £4,050.00 Automatic trade

08:55:13 16.20p 16.24p 16.2000p 25,000 Sell £4,050.00 Automatic trade

09:08:27 16.08p 16.24p 16.2000p 25,000 Buy £4,050.00 Automatic trade

09:08:27 16.20p 16.30p 16.2000p 25,000 Sell £4,050.00 Automatic trade

09:08:27 16.20p 16.30p 16.2000p 25,000 Sell £4,050.00 Automatic trade

The way I see it is am not yet convinced that they haven't upped their short, the FCA shows it's listing both as current being different funds, lets hope for clarity as the differences can be remarkable from either,

1. Awful they have upped their short, or

2. Brilliant, they have started to close, or

3. No change they have just restated to accept the most recent dilution.

For the best case scenario, we need to see the closure of the Master fund, but we haven't, this is the biggest worry, why update for one fund and not the other, thus way I am erring to the negative until we see the data.

Mangrove Partners Pantheon Resources GB00B125SX82 1.22% 01/10/2024

The Mangrove Partners Master Fund, Ltd. Pantheon Resources GB00B125SX82 1.53% 11/09/2023

BHI, you're weird, no idea what one has to do with the other, you sound a little angry and paranoid, don't worry I have no need to stay with this attitude so I shall leave you to it... strange as hell...

That's not good, like I say having a bond holder continually converting and pushing the price down with vwaps will bring these shorters circling like a moth to the flame, come'on panr get rid.

So today I was brought here for the first time since 2020, (which was an absolute stonking year) however not been invested for 4 years, but saw the RNS that had my ears prick, 275% premium investment, obviously couldn't help but ask questions, when something looks to good to be true, well it generally is - the response from here, even though not posted for 4 years - must be a shorter, only asking questions to raise doubt blah blah - well buy the look of the SP, being a shorter would have been quite profitable. What the hell has this management done to this company, just looked at my portfolio and see that my last shares in Hemo were sold at 10.8p - Vlad the destroyer

"Shorters are now trying to create FUD with ridiculous question like why invest at 275% premium"

- don't be silly I only came here today on the back of the RNS, I have no trade in hemo, was just interested as this does not make sense.

Its doesn't for me, I had tried that in the past.

Something just isn't right though, you cannot have someone invest at a 275% premium and that translate to 6% up on the day. No one invests at that premium unless they are trying to manipulate the price, for petes aske why not just invest at 100% premium that's still massive you would still get your shares but pay half, if it looks too good to be true then you have to be asking these questions?

I think the company and GTE must be really really worried, I don't think this deals gonna pass, why just the pure huge level of selling so large trades all being soaked up, someone imo has remit to just buy buy buy. desperation is the key word here I think.

Corryvreckan1, thanks for this, yes I can see them now.

Funny, I have never used that button as I always place the epic directly in the lower left 'quote' (name, symbol or sedal) box. Interesting that if you put GTE in this box you only see entries for AMX:GTE

yes thanks for that, appreciated.

That 3p was worth less than £250, hardly relevant and likely just a DMA trader taking advantage..

Well for something that on the face of it looks brilliant, not sure I'd jump in for a punt on this, more seem to be taking advantage to sell, all is not as it would seem - but has given me a reason to read into this further.

Those LTH here what's your view on this investment that's a massive premium to pay, why would be the first question and then where to today 3p 4p?

Wow that's some faith investing at 5.6p a shares premium of 275%, what do they know

"But if Gobi is a success the sp will go into orbit."

- Partially agree, under normal circumstance I would fully agree, but just being a success is not enough it seems for matd - who then have to go through the whole process again of obtaining permits, infrastructure, brown bags, drilling and thus fund raising at dilutive prices etc. You are correct though if Gobi is a success the price 'should' respond accordingly. But, I've been around matd for enough years to know what should be and what actually occurs under Bucks stewardship can often be quite different.

Austin after what he has done here, I don't believe his position would be viable if the deal fails, in my view Majid is history if the deal goes through or not.

Doc, In my opinion (others differ) is of course there is a seller, the idea that this is MM's trading and that they would risk holding stock in a loss making Mongolian explorer with little cash is for the birds. Quite simply this is likely a large holder from the 2p days that can likely even sell way below 2p and be profitable, they were selling down way above that price knowing the 2p placing was coming their way.

Look at the risk profile, a company that has consistently over more than 10 years had nothing but dusters, that's now drilling another exploration well, with by their own assessment an 85% chance that it will fail.

With two drills into a declining field (see PetroChina's data on this, this is fact, even Buck has mentioned that PC extraction is declining) neither of which they have been able to share any meaningful data on potential extraction, whilst at the same time obviously burning cash that they have little of.

No permits in place and no deal with PetroChina, these comments that this is MM's holding stock, lol. The company has a seller period, why, because Buck will again be out of cash soon, as to whether production will be this year is also still in doubt and if Gobi is a failure (which 85% says it will be) and Buck needs to raise cash at a post duster SP the dilution will be immense. This is my take on the risk - who really thinks MM's buy into this risk. The only people buying into this are PI's.

Because they are not all buys today, one of the profitable sells was mine thanks.

The fear I have is if this deal doesn't go through, with Majid having publicly trashed i3 as having such low worth and the gas price on the floor, I expect a very hard hit to the share price, we could be flucked for a very long time due to this greedy 5hits manoeuvring.

Risk now is very high remaining in, whereas the loss to leaving against the eventual pay-out is now pretty small, particularly as I have no idea how to sell these GTE shares.

My understanding is the GTE shares to be issued will be UK LSE market shares. As as far as I can see you cannot get a quote for these in interactive investor. I have asked the question of them twice and they have not as yet given an answer, likely now time to get on the phone, unless anyone here already has a response to this question?