Member Info for Thales1

... Over the last year and a half or so? And, any hints on when RBS might resume paying dividends, which should be a good catalyst for the share price. I'm in Lloyds at the mo (abrasive dunanddusted? That's a bit harsh) lol

Market cap £3m. Cash in bank around £6.8m. Spend £1m to take around 30% ownership, replace board with your guys, flog FEL1/13 for whatever you can get, return all cash to shareholders and sell the shell for tax losses. On cash alone your going to get a 100% return on your investment. Can anyone lend me a mil for a coupla months?

Hope good news is in the offing, I,m sitting on a thumping loss here.

I guess gold is tanking because of talk of possible interest rate rises. I'm not sure that people have thought through what that would mean for public finances, and not just in the UK. With the colossal mountain of public sector debt that's been racked up both before, and especially since the financial meltdown, any increase in interest rates would massively increase the cost of servicing that debt will cripple governments globally. Quantitative tightening anyone? What would that do to the price of gold?

Have a feeling you could be right, some heavy selling today. I might have jumped too early. Antrim is notoriously leaky.

Yesterday, 50k at 4.94. Still woefully out of the money on this one, and determined to trade back to b/e. They should announce submission of FDP before the end of this month which should produce a bounce. I've got enough for another 50k in case of another delay or general market tanking though...

Hi. Yes, I was lucky on my timing, averaging down very sharply in early July. I sold all of those into the rise, and I'm waiting for the retrace to settle before coming back in, which will bring my average down again. If these do fall hard to low 3s, I will probably buy a lot more

Now trading lower than UK. But still holding above the crucial 5p support. If it breaks down through that, charts suggest a rapid drop to around 4p as next support.

39 million profit last year? Do you mean the proceeds of selling ALL producing assets in NS, leaving us with NO income, plus our stake in East Africa, which mgt used to describe as the jewel in Antrim's crown? Then using most of the proceeds to pay off the disastrous hedge which brought the company to the brink of collapse within months of being signed off? Leaving us with about enough cash for a years worth of the immense board salaries? While they still talk about seeking acquisitions? The thought of that last alone strikes fear into my heart. There will be no profit this year, only loss, unless they go for complete liquidation, and return whatever they can get to shareholders

I have been in AEY for several years now. I was first attracted because it was a producer with no debt. To be fair to Antrim they like many small oilies really struggled to raise finance. But the CEO was extremely disingenuous about financing for FYNE. They failed to control costs, but based on what the CEO said, and the revised figures disclosed in a corporate update,payback when from 7 to 12 months. If so, I would still have expected them to be able to finance it, but clearly not. Instead they entered into an extremely stupid deal with a hedge fund which brought them to the brink of collapse within months. The hedge fund made out like bandits, natch. AEY had to sell all their producing assets to cover this, so have no income, and have been engaged in a fire sale ever since. They will have to farm down a lot of their share in Skellig to cover the drilling costs. What about the costs of getting it to production before it starts producing an income? The same development costs remain a concern for FYNE. And hob is ramping his first single bagger of the year. But Aey was on his hotlist during the catastrophic decline when it lost 95% of its value. I still have some, but you need to be aware of the background here, that cost a lot of PIs a lot of money.

Lol

Wish I averaged down even more 3 weeks ago

Released an RNS recently which mentioned progress on Fyne in passing. I am hopeful we will see FDP submission soon. I don't expect to fully cover my losses on this dog, but I've averaged down savagely today.

This has gone very quiet. Anyone else here?

It means Morgan Stanley have bought a shedload here

Nm

Looks like they released an RNS on Saturday? Confirming the environmental fine doesnt have to be paid, so a $9.4m provision on the balance sheet can be released. Not a case of burying bad new then. Releasing it on Saturday means the market seems to have missed it though.

I bought into this several years ago on the basis that it was debt free and producing. Last year the CEO said Fyne would pay back development cost in 7 months. And entered into a hedge swap which cost $0.7m to arrange. Fyne costs escalted so that it would pay back development costs in 12 months (i've crawled through company announcement, aEY have never admitted this). Still looks economic to me, but AEY pulled the plug, and then went on to lose $3.5m on the hedge swap in a matter of months. Those two ****e management decision have bought AEY to the very brink, of they cant get Fyne FDP approved its curtains.

Be interesting to see what this rates at when the cpr comes out. I wonder if it will include anything from karusch, as there has been drilling there already. That would have to be conservative though, before a proper drilling and assessment

Well spotted Chas. i was about to alert people to this too, as the Energi RNS title doesn't mention Fyne, and Antrim themselves see no need to inform their shareholders of this, or the fact that they have posted the Fyne environmental statement on their website. Presumably there wasn't any suitably apocalyptic news they could find to ameliorate any suggestion of positivity.