Member Info for Sturm

I'd rather have Cas 4 & 5 online on time with fair volume than a new CEO. That will change sentiment faster, IMHO. Management has made many mistakes, but numbers and momentum simply matter more for the SP. Anyway, still here at least until they've taken a peek or two at the deeper prospects.

G_G_G when (and what) is the last time, you brought anything new to this board?

Your record broke a long time ago.

7 posts (including this) and 3 trades. Same picture yesterday... Less talk, more trade

Crypto boy is truly Don Quixote reborn. TXP his windmill / dragon to fight.

Maybe go back to the crypto chat and carry on with the juvenile effort.

Good old message from the millstone says all you need to know:

Poster: rossannan

Posts: 9,356 (THIS IS THE ONE(!) RAMPING MESSAGE FROM THE MILLSTONE)

Subject: Get in early for free…

The new mobile-based, energy-light, one click a day type of crypto projects are interesting - the possibility of getting something significant for essentially nothing intrigues me. The only risks (given that no money is required) seem to be in potentially wasting a small amount of time and in sharing information with the apps. One project that I am seriously into is Bondex Origin - a Web 3.0 Professional Network for the World of Blockchain (h t t p s : //w w w.b o n d e x . a p p - invitation code 3IW2Z if you are interested in getting in at this early stage).??

And yes, there are a few extra tokens in it for me, as there will be for you if you successfully invite others.

IDK why people go on about new raises at XYZ p. They cant expand the number of shares without a new AGM. That's the regulation.

Volume here is honestly pathetic. They should either delist from AIM or at least commence a 1.000 shares/day buyback.

Interesting POV, Damofarl. So you're saying you're happy, but if the company had not paid dividend and bought back shares instead; you (if you didn't sell) would own the company 100% after 8½ years and would have received the full profit of the company for 1½ years.

(Just to illustrate how strong compounding is when buying back undervalued shares; why pay dividend, when you can buy back 1£ of NAV for e.g. 40p).

Question is if they even need a raise now, with VAT money coming in and steady cashflow. If they can "just" drill 4ST and hook 4 & 5 up (with flush production) there should be no issue hitting the bank/loan requirements (which I guess will be softened if they manage to drill and hook up both wells). Still contingent on a fair result, though logs sounds very promising.

It closed around 13.5 yesterday and now SP is around 15p; that's more like 11% up today.

*shrug*

People "owning" their trades (be it sell or buy) is definitely always nice :) And a string of buy's is also nice, since eventually it will mean SP and MM goes up.

I guess we need some volume for this to move but right now there's some kind of patience; I guess those who really wanted out has left the boat (and volume is just low in generel in the summer). At least they're earning money every day.

Only thing that matters is the SP, buy or sell is just a very simple "equation".

And I really can't see why you insist "It might show up as a sell? But it’s definitely a buy👍" What rubbish is that? The trade might be one big PI starting to sell... but you insist it's a buy? There's a seller and a buyer. SP matters. Nothing else.

Dilution is a bit more strict btw,:

Key Limits Without Shareholder Approval (TSX):

Private Placements:

Up to 25% dilution (based on number of shares pre-issuance).

Measured cumulatively over a six-month period.

Else they need a GA... good luck with that... !

They can only dilute 25% cf. Canadian rules, so that's 65 mm shares or so; at this SP it should be the very last resort.

I Hope they can secure a bridge loan for Cas 4 and new terms. Preferably they should wait it for funds from VAT to get 5 & 4 hooked up.

Senior bonds from "major" shareholders or II's with a fair/high coupon and 3 years to settle would also be fine.

"you fell into my trap" - I wonder how old the millstone is. Also 99.99% sure that Millstone is aka Janedoe.

Management and major shareholder must be satisfied with the present SP. Else they would increase buybacks. SP is fine where it is, according to them.

If they thought consilidating shares would help, then they'd also buy back more shares now, before the consolidation.

SP is IMO low since they're drowning CAPEX in the river (necessary, but 0 extra return), bco the low(ish) Brent price and because it's Peru. And maybe bc they chose to finance via debt, so they can continue dividends, which is what the major shareholder wants.

Change in one of those factors will change the SP.

My dividend is going to other stocks that are less "in the pocket" of the major shareholder and more concerned with shareholder return and compounding via buybacks. (Not selling though, it's a multibagger for me and Mr. Taxman isn't getting a chunk of my profit yet). And then there's the joker, Block 107, which should have been drilled years ago cf. the IPO. I want to see that unfold aswell.

I hope they've approached "major" shareholders, who want's to stay below the "visible" limit and suggested them to participate in a raise via senior bonds. No dilution if everything plays out like we hope. 3 years and 12% would be better than raising via dilution IMHO.

I wonder what the SP would be if they had secured the rest of the funding via e.g. senior bonds from one of the participants in the last raise who'd want to secure their investment, after the two stellar RNS's (Cas 5 and this).

40p? More? Market cap vs. asset value is crazy.

I can't see they can raise that amount within the regulations.

Dilution will simply be to big. So they'll IMO have to sell assets or aquire loans via e.g. senior bonds.