Member Info for steward1

Just glanced at a 2 week chart and that's been quite a move from almost 0.07 (all time low?) to some folks now paying 0.11.... and with no concrete news. sp looks as if it can still go further without that news.

I wonder how much of GR's decision to pull the HBR deal has influenced folk to buy back in or is it just the prospect of the $6m being on its way? Perhaps, this indicates for GR that he should listen more to holders!
If you're anything like me, I look at risk/reward - the risk now that there will be no $6m or no Circum or no RHA progress or no good news from Zulu is very low, indeed.
The rewards on the other hand are massive - I've seen some folk suggesting a 10 bagger but I'd be happy to get to 0.4. GR can then do his KME/HBR deals and we'll be flying.
Whilst I would get rid of GR immediately, I do hope that in his remaining months here that he can end well with the sp recovered (even partially). GLA

Hi thom - was that a meeting between Prem and the Zim gov't?

I think that if everything is now agreed, I'm wondering if GR will hold back the RNS until the cash is actually in the bank... that could still take a wee bit of time.

Quiet before the storm?

I agree Eddie - it's all a bit premature. The agreement may well get signed next week (personally, I think it will)... But we don't know the terms of the agreement yet. And the money still needs to be deposited. Still some major hurdles to get over before I'm cracking open the champagne!

Looks like folks are happy to trade even at these levels but my guess is that there is some good news on the way and folks who are selling may well miss out.

I don't have quite the optimism that Smiley has but the 1st trigger for a recovery of the sp is the cash from the Zim gov't. I suspect that it won't all come in one go but I do expect it to arrive and I'm hoping that GR doesn't immediately follow it up with another placing! Let's see some other news (reZulu or Circum) before we get hit again.

I'm still of the view that HBR (if it can be resurrected) should only happen when the sp is around 0.4.

Very interesting… something must be on its way!

That is some list, Smiley. I like your optimism but given past experience (where nothing has been delivered), I think the chances of all of that happening in that timescale is zero. I'd be amazed if any of those happened in the timescale that you are suggesting.

I doubt very much if the 6 million will be deposited in one go and, if the Zim gov't are wise, they should pay GR in instalments with associated targets. Personally, I think that would be better for shareholders as well- it doesn't give GR the chance to squander it.

I'm certainly not convinced that GR will have a new CEO lined up yet and calling off the KME/HBR deals probably has thwarted our hopes of getting a new CEO anytime soon.

AIMHO

Mossma - interesting perspective.

You've highlighted one area where I now struggle with LK. If the success of Goudron, etc. was based on whether SPT would be changed then, for me, that would really reinforce the thought that LK has strung us along. It may well be that SPT is a dis-incentive to invest in increasing production from Trinidad assets but that seems to have always been the case and was certainly the case when LK was targetting 1000 bopd.

The lack of the big deal that others have highlighted today is another area of concern. The game-playing tweets is another disappointment. The fact that the Mail on Sunday have listed CERP as the 3rd biggest faller on AIM today is a big disappointment too.

On this Easter Sunday, I don't think that we're needing a miracle to resurrect CERP but this last week has been disappointing.

Have only had time to post a short "I'm disappointed" the other day but got a wee bit more time now.

I agree LGO.

LK has made a few disappointing moves now - he set expectations high initially and we've seen them gradually being pulled back. At a time when he needs revenue to bolster the SWP move, he cuts back. You get the impression that he's no longer interested in production with the appointment of some firm to provide managing director services in Trinidad.

On the face of it, the deals that he's done have initially looked good but given where the sp is now, they don't seem to have been value accretive! He's now chasing more deals and, again, with the promise of value-accretion for holders. Whilst I value his ambition, he needs to deliver on what he started off with.

From having total confidence in LK, I am now very sceptical and disappointed.

And we're back in a position where we don't expect significant news until late Q2/early Q3... so what direction do you think the sp will go in?

I'm very disappointed.

I'm disappointed!

He sure is, randomaxe, and he does need to go.

Whilst it's a relief that he has been forced not to go ahead with HBR, he seems to have taken the hump with pulling the KME deal as well.

And, as with all of GR's RNS's, he doesn't give the full picture.I think that he should be saying what, if any, impact the cancellationof the KME deal will have on current operations.

Not sure that the sp will rocket because of this announcement as others are suggesting!

I agree but I'm happy to say that I called this wrong.

Too much game playing by MA.

I reckon he's a bad loser though and he might just make the life of each individual on the BoD hell. We don't know everything that has gone on but. with some of the allegations that we do know of, there is bound to be some legal action. Could be years of misery ahead.

Eh?

It's clearly not finished yet. MA has proposed one of the options set out by the DEBs BoD - I reckon that they're bound to respond to it constructively.

I'd suggest that their silence is down to them speaking to the lenders to see if they're going to accept MA's proposal. And all these lenders realise that they're unlikely to get all of their cash back whatever happens. Even if DEBs is handed over to them at the end of the day, it is not going to have anywhere near the value that they need to get all their cash back.

We need the DEBs BoD to respond - I'm surprised that there hasn't been anything yet I imagine that they're in panic mode.

I would be absolutely gobsmacked if they did not agree to an extension. If that happened, I reckon that MA goes legal and seeks an injunction.

MA is absolutely determined to wrestle DEBs away from the current BoD and protect his investment. In a situation like this, he will not give up and will look at any and every way to win the prize. You just don't bet against someone like this.

What is clear is that the demise of DEBs in its current form has been way overdone and the sp should recover today. Seems to me that this could now be a multi-bagger from these levels (aimho).

Excellent news... not the option I expected but holders should see a boost to the sp on Monday. Looks like shorters will be closing.

Really pleased that I'm still holding!

YinYang - he's after DEBs to build an empire to take on Next, M&S, etc. I believe that it's critical to him. If he doesn't get DEBs, then that dream is over - he's not the kind of guy to accept that he's not going to get his own way so I reckon that he's not going to slink off in to a dark corner. My guess is a bid on Monday.

The BoD is simply going to say that it's an EGM that can change the CEO and not a petition!

The other thing I would add, Pearls, is that I'm more inclined to think that he'll offer SD shares as part of the deal (saving his cash to deal with the debt).

Apart from not having to find more cash, one advantage is that he gets a whole load of new holders of SD shares.

I reckon that he's in pole position now to get DEBs. If he doesn't bid before Monday's deadline, I think that it could become more expensive for him or he will simply lose out. The DEBs BoD has a plan which it is executing and I don't think anyone knows exactly what action it will take on Tuesday morning if a bid doesn't come. That's a risk that MA runs plus, if it's "cheap" on Tuesday, MA may well find a number of competing parties too.

The BoD have been quite smart here and clearly they're not going to hand DEBs over to MA on the cheap.

I happen to think that DEBs is key to MA building a £5 or £10 billion company to compete with the likes of NEXT, M&S, etc. So my guess is that the bid arrives on Monday.