Pompous waffle, pompous waffle, pompous waffle.
Point proven.
I've had over 10 years of MC's beige personality and sclerosis so I've put in the time and earned the right to be fed up with him. Yes I could sell but I believe that the deposit is top notch, I just wish MC would hand over the reigns to someone who has the required skill set to move it forward. However, I assume that in a gold bull market even MC won't be able to hold this back. We shall see.
John, I've pulled you up for being grumpy in the past but I think that it may be contagious. I am becoming less and less enamoured with Ariana as the story unfolds, I am now bordering on selling out and redeploying the funds. I'm reluctant to do it because the potential is there but we seem to have lost our way.
There have been a few periods over the last 25 years when I have had a very good run in the market and made very substantial sums of money. The big problem with that is that I then start to believe that I have "the touch", that I can't make a bad investment. Sadly, it is that very time when I have made all of my worst investments. Too confident, too sure of myself, I take my eye off the ball and get careless then lose big-time.
I have thought, the last couple of interviews I've watched, that Kerim has a slightly satisfied air about him with a pleased with himself grin.
Ok, nothing wrong with that as he has done well. My point is that he now seems to be doing rather less well and I'm concerned that he may have fallen victim to his own hubris?
Just a thought.
Hi chaps, people are clearly not happy with the way thing are going here and with good justification.
Paul, several times now, you have mentioned Ariana's need to fund Tavsan and Venus as an argument against the the dispersment of funds in the form of a dividend. Tax issues aside. I don't believe this to be accurate as both projects are to be funded by the holding companies.
Tavsan is held by Zenit, the 3 way joint venture and its development is to be funded by debt taken on and repaid by Zenit through production revenues.
Venus is to be developed using funds raised through an IPO of Venus.
All of this, whilst seemingly attractive, raises 2 initial concerns for me.
Firstly Venus, I am concerned that any positive credit that Kerim may have in the market will be massively outweighed by the negative sentiment toward the odious creature that is Harry A Adams. He has spent many fruitless years trying to raise capital to fund Kefi's Tulu Kapi into production. Before that, many wasted years at Emed. I worry that the IPO may not be well supported.
My other concern is even more worrisome. When we expanded our Turkish joint venture we received $30 million from Ozaltan, $ 5.75million from Procea and $2million for satellite projects. Total of $37.75million. $7.6million spent on the 3 dividends leaves a tasty residue of $30.15million. Bearing in mind that money is payment/compensation for the revenue of forfeit production it represents a very significant percentage of the company value. Whilst we dabble here and there in unstable jurisdictions and with unsavoury characters I am unaware of any value accretive plans for this wedge of cash.
I'm fairly sure that we had pressure on us to enter into the current partnership as part of the cost of operating in Turkey. Also, perhaps Kerim wanted a new challenge. That's all well and good but I would like to know in some detail how Ariana's treasure is to be employed.
I do have other concerns but enough for now. If I've got any of this wrong then please let me know.
Ariana remind me of a used firework, at first glance it looks as it did before the show but closer inspection reveals that it is empty inside and without the promise of excitement. I am left with a fond memory of anticipation and its brief former glory. I rather fear that the pyrotechnicion has failed to sequence his display properly due to being distracted and wondering off.
Kerim has really taken his eye off the ball and I'm not sure what we have to look forward to.
Quite right ICB, people who have had money invested in Condor for over 10 years have no right to level any criticism at your hero Mark. That fact that he clearly lacks the necessary skill set to push this project forward is obviously irrelevant to you and the rest of Mark's fan club. No, I also don't possess the skill set to develop a gold mine, however I aren't being paid to do that particular job. Mark should have stepped aside long ago to make way for someone more able to fulfil the task. His ego, lack of charisma and lack of ability are costing people a lot of money so I think they have every right to criticise him despite your attempts to silence legitimate concerns.
If Asher can't get a deal over the line at these oil prices then something is very out of whack with either him or our Cameroon target. If everything is as we are told then potential partners should be hammering the door down.
Hi Seingred, welcome and good to see you over here. If you are just getting into Panther now you are certainly getting in at a bargain price. I hope that your input and analysis will be more valued over here than on the cnr board. I aren't aware of any self appointed board moderators here. I also aren't aware of any " senior" fintech developers here either. Perhaps those factors are related, having "senior" in a job title can be heady stuff for some.
£5 million market cap, yes £5 million! I have to keep shaking my head to make sure that I am awake. It is astounding, £5 million market cap. Can someone please reassure me that I haven't slipped through a rip in the space time continuum and landed in an alternative reality.
Market cap of £5 million he repeatedly mumbles to himself whilst nipping himself and drooling. £5 million market cap?
Hi John, not on this occasion, I think that some very valid doubts have been aired today. I have always had my misgivings about Venus but these have been partly put to rest with the separate listing. I am now starting to be more receptive to you misgivings about the merger. I always assumed that there was a political element to the sale but I was positive about it initially as I thought that Kerim probably had some great and imminent plans for the money. I'm now coming around to your way of thinking. We have sold cash generating assets for ill defined promise and medium/long term uncertainty.
I am feeling less and less comfortable with my investment here and judging by the share price performance I aren't the only one.
Is grumpiness catching?
I love his confidence and enthusiasm, if it's the best investment that he has ever made then I'm happy with that. When he makes money, then I make money. Let the story unfold.
If only that were true. It will be a happy day indeed when I finally jettison the last of these. I've listened to MC deliver the same monotone presentation for the last 10+ years, will be balm to the soul when I no longer need to.