Member Info for TheMadStork

A placing purely to raise money, that is. Not one to allot shares in lieu of payment for the equity in WK/MT that MT don't own. Of course such a in lieu share issue makes no sense whatsoever, since any bidder would simply buyout the other holders at the same time for cash.

Re the potential valuation there, I totally respect that you're always civil, oldspursfan, but I don't really think there's much of a debate to be had if you genuinely believe EUA to be worth fully 50% of the mcap of 2moz/year, 450m oz reserve SSW, or more than 5x the mcap of THS, SLP and JLP combined.

I'll be interested to see the reaction here if (when) a placing is announced. Of course it makes no sense whatsoever to do a placing if you are really on the verge of being able to pay out a large dividend, so I wonder how they'll justify it and whether or not believers here may begin to question the story. We shall see.

Believe it or don't, makes no odds to me. If it's a con it's certainly a long one given my Twitter history!

Anyway, I'll keep posting on here as I please, thank you very much. If people want to waste their time reposting an idiotic 'gotcha' in an attempt to run me off then feel free to go right ahead.

As I posted in response to the original, I have had *tons* of losers. More than I can count. In fact I'd entirely forgotten all of those. That's 8 years of trading for you. However, a)I have made enough money overall to the point where I'm retired. and b) I have very rarely been wrong on the short side, because due to the nature of the beast, one has to be considerably more sure when one is shorting.

Would you perhaps care to detail every single trade you've made? Would EthioEthio?

EE: I don't think, from memory, that I actually ended up losing much on any of those. I've had hundreds of positions over the years and quite a few have been losers. If you'd like to read about my actual biggest losses, you can do so here: https://www.shiftingshares.com/tom-mad-stork/

I've had loads of losers, but despite that I have still managed to do well enough to have been retired from my job since 2016. That's part of the reason why I have so much time to pursue fascinating arguments on this very BB! I will say that I have *very* rarely been wrong when it comes to shorts, and EUA is a massively high conviction bet for me, despite being a tiny % of my portfolio.

Appreciate the serious replies. We shall see!

So who was bidding? What were they bidding for? How much were they prepared to pay? Clearly these bids (if they ever existed) have to have been withdrawn as otherwise they'd now have to be disclosed since the FSP is over.

At no stage has any concrete information *ever* been disclosed. There have been a number of excuses for this trotted out, but the fact is that no third party has ever given any indication they are interested, despite having had 20 months to do so. Why?

What I'm trying to establish are what expectations are here. If there are in fact no answers by the AGM, will anyone actually begin to question the story? If there's no payout in 2 months, 6 months, a year from now? If (when) there is indeed a placing?

The company/its assets have been on sale for 20 months with absolutely no sign of any interest from anyone. No bids, no formal or informal offers, no information of any kind given as to who, what or how much. The actual position in terms of a sale has not shifted one iota from October 2019. How long can they keep this going? How long will people keep believing in this supposed mega payout that's been dangled for all this time with absolutely no result?

I guess we'll see. Fascinating stuff, really.

Also I'm guessing that nobody expects a placing? As that would make no sense if there is about to be an imminent massive dividend paid?

So consensus is that these three questions will be answered by the AGM:

1)Who is buying?
2)What are they buying?
3)How much are they paying?

What sort of a dividend/payout are bulls here anticipating?

All brokers should be able to provide you with a tax document showing you the profits/losses from all potentially taxable trades. This info should make it easy enough to fill out the calculation forms on your tax return.

That is to say, you cannot use this year's loss to offset any previous year's bill, however you *can* use it to offset any future losses indefinitely into the future.

You can't carry losses back at all for CGT purposes, however they can be carried forward indefinitely.

No. Money within an ISA wrapper effectively does not exist for tax purposes.

I absolutely guarantee that we will be none the wiser of the terms of the transaction - that is *who* is buying, *what* they are buying and *how much* they are paying - by the AGM. You can quote me on that.

"Irrespective of FSP - ‘the company has now received several proposals including a proposal from a credible party for the potential acquisition of substantially all of company’s assets. The board has decided to focus on this potential asset sale’"

Note 'potential' and 'proposal' this is very careful language meaning that they conveniently do not have to disclose who the bidders are, what they are bidding for or how much they are prepared to play.

"And exiting the FSP and offer period to double down on the credible proposal sounds fine to me. The exec chairman would also have to be very careful to state things such as ‘could allow us to pay a significant dividend to al shareholders’. You can’t just say stuff like that in an official RNS without considerable confidence."

Of course you can say that. Like I said, it has been very carefully worded to get round disclosure rules.

Why didn't the FSP succeed? Why have there been zero bids for the company in the **20 months** it has been on sale? Where is the slightest shred of evidence that a third party has ever been interested at any stage?

The bulls on here insist over and over again that EUA's assets are worth hundreds of millions/billions. If that's the case then why has no third party said a word about being interested, formally or otherwise, in over 20 months? And don't say "NDAs" or "FSP". Nothing like that applies any more.

Lamstree/other bulls: How long are you prepared to wait for that pen to hit the paper? What would be an acceptable payout for you?

Carlito: I *wish* I was getting paid for this. Frankly it would be awesome to be part of a Vast Conspiracy and certainly more exciting than the truth, which is simply that I'm a full time AIM trader/investor with a (un)healthy fascination with the EUA story and how it is that it has maintained a transparently, objectively absurd valuation for as long as it has. Yes I'm short, but it's a tiny % of my pf. Money is not the reason I've spent so long here. The truth is much sadder!

They did not have bids for the company, as those would now have to be disclosed. Unless of course they have been withdrawn, which means that (if they existed) they did not value the company at or above the current mcap.

silversun: Very sensible post. Don't worry about the abuse though; it just means that the abusers cannot actually counter arguments reasonably so resort to ad hominem.

layla: The FSP, a process designed specifically to attract bids for the company, has ended with no bids. It has failed.

1) Who is bidding?

2) What are they bidding for?

3) How much are they paying?

Surely all investors here should want these answered.