Member Info for SuperMonkey

Surprises me also, seems to be just hanging in there

Indeed Vauch, from what's known the Italian licence, having been delayed a few quarters is now expected Q1
hopefully Po Valley and all are pushing for this!..
Meaningful news flow seems to be needed here, not least for current holders but to demonstrate to the wider market what PXEN have

Top up for me also.. prospect of a sub 1 P/E ratio is fairly appealing !

Indeed, looks like its building up to something!
a move through the 3's is looking likely

Yeah I get that Somerset, just think the cost of drilling 4 off shore wells would be a long way from what orm could manage with ~£5m, might even be a ceiling to oil prices for a few months (my own opinion) what with OPEC's hand on the tap and demand what it is. Gold thought is doing well now and I suspect this would continue if Biden can roll out FDR style/huge fiscal programmes in such a low yield environment.
Guess the point I was going for is when would the bod plan to do buy backs?
Before a project is brought on board? or After?
Time will tell

Any delay to an announcement is so far down to the bod not being able to pass resolution 6 to 8, it would need TA on board to get the votes. Will be interesting to see what happens on the 7th, its either a yes, no or revision to the resolutions.
Personally I would like to see when the bod intends to conduct buy backs.

I have doubts this is anything about oil but suspect a gold project being tabled.

In fairness its kind of out of Ed's hands, once the Italian signoff is in place, I would expect a little more action

Have my doubts this is anything to do with oil. Resolution 6 & 8, if passed enable the bod to a)issue 10% equity b)buyback 10% equity. Any deal for a project may involve part cash and part equity to the vendor for potential upside. With this in mind, maybe its more of a question about when a buy back takes place that's important. I'm thinking TA is looking after his interest in ORM which extends to all shareholders.
Either way, this has told us that a deal is more or less on the table and there is upside involved.
Just some thoughts/who knows

Its a fair point CP52, does make you wonder just how much of that goes to consultants. Bit more clarity would ne nice!

Good to be seeing a little more interest in here lately! £7m Mcap with £5m cash! seems a rare thing on Aim.

Cant say I've suffered the past tungsten debacle, but couldn't help but notice the beaten down sentiment this year from its fallout. Although with a fair amount of cash compared to the Mcap and the BOD telling the market of potential gold projects, no prizes for figuring how this plays out. The dry powder looks more than enough to pick up a decent looking project/prospect and to have a reasonable drill campaign.. kind of reduces the risk somewhat!
If the Bod manage to bring on a well suited prospect, I'd expect to see this move like the rest of the gold plays !?

Desti, you do realise this is how a huge number of companies are structured right? its all pretty standard, do some research

Also I'm guessing you realise the company raised a few month back so has cash for a while. Is this correct?

At the current MCAP, you must realise that a straight out raise would hardly raise much cash and its much more likely you will see some form of asset backed lending, possibly with some element of convertibility along with a yearly interest rate, don't you think?

I understand if you feel bitter in someway, but was wondering what your target price is for buying in? Some are thinking you seem quite desperate.

Have you done any calcs in terms of leveraging gas into electricity sales in Spain? if so what are your thoughts.
Also, do you think a fully automated gas plant on Selva would be quite useful?

bofin, try to understand that there is a difference (a huge difference) between a plant for production
and a small lab set up to crush a few kgs in order to obtain samples.. I'm sure you understand this (some wouldn't)

Dill, I have doubts you will ever break even, best to spend time looking for opportunities where you can actually benefit

Actually on further reading, doesn't look like they are creating D shares Its C shares, hmm, think i need to read up a little more.
Shares held now will still be traded as you say at 25:1 so yes you are correct

Like the leverage to silver so on the watch list, but guaranteed the Q2 results will not be pretty
From cashflow to zero flow makes for a bumpy ride

Seems like this message board has made for some pretty unpleasant reading lately, seen many consolidations in a number of companies and one thing is always the same.. The negativity around it, when in reality the damage to shareholders is the dilution that precedes it and not (typically) the consolidation itself.
A shareholder could take the pessimistic view that the consolidation is done to move the share price above nominal value enabling further dilution in the future and that can happen, although in this case, the company has two near term projects.. An Mcap of sub 2m! and raised +£700k in January. So it has cash, and is looking for project funding.

I think what the market/some holders might be missing is the restructuring. The creation of the D shares is key here as they cant be traded on market and represent the value of the companies assets, its this that enables project funding via asset backed senior credit. If this turns out to be the case then there's a lot less to fear in terms of dilution and Ed will be making a good move. Is this obvious to anyone else?

Nice to be seeing a bounce here, an encouraging reminder of how much skin in the game the BOD have. Togo licence has been a long time in the making and the last barrier to pretty good looking cash flow!Nothing like bureaucracy and regulations to slow economic productivity, but the licence feels a little closer

Don't think so ace, you are looking at numbers prior to consolidation, no shares purchased, just simply a notification of reduced holding due to equity raise recently. All share holders prior to the raise now have ~20% less of the company

I have no doubt the placees will sell their shares at a profit and keep the warrants along with all the other warrant holders @1p on the risk free chance this gets rampy enough for another rinse , but that's just my opinion

MGA is clearly cash flow negative so no profit to tax
Might come under capital gains but either way its peanuts, call it an extra two weeks cash burn perhaps

Something to consider, diplomat.. If I were Fosterville south and saw ECR requiring cash, I would offer £500k for equity @0.5p along with the purchase of the licences for ~£250k , on the very day the shares are available to trade an announcement is made of the sale of the licences, very exciting. I would then churn that equity ideally averaging 0.75 meaning I acquire the licences for free, in exchange for bridging the transfer of cash from new and current shareholder to the coffers of ECR enabling a few more drill holes for 9 or so months. The end result seems to be an enlarged share base with less assets, but cash on hand to roll the dice.. just my thoughts and opinions but 1p could be a ceiling for a while
I also don't pin too many hopes for creswick due diligence at present. Not without some genuine plus 2/3g/t grades, again just an opinion, but worth considering maybe