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If I was you i'd save your money, this is so obviously going back to 3p why not sell now and buy back in when we get there, you'll get almost twice as many shares for your money.
I get increasingly concerned at whats going on at GNG and whats the true picture is. The auditors notes in the last set of accounts really worry me. I quote :- In forming our opinion on the financial statements, which is not qualified, we have considered the adequacy of the disclosure made in note 1.5 relating to approximately £19 million of accrued income (2012 approximately £15 million) against which no allowance has been made. Given that these amounts are not yet invoiced for collection, and that they relate to incomplete contracts, current market conditions indicate that there is nevertheless material uncertainty regarding the recoverability of the accrued income amount." Also I has worked on the basis that a cash position of over 4 million made a market cap of under 3 million a 'no brainer'. But increasingly I wonder what the true position is as I see their 'net cash' position is down to 1 million. So is the true cash position subject to the same interpretations as their income statements? Lastly I keep asking myself why if the outlook here was rosy then why were there no director buys when the shares stood at only 3p earlier in the year? Surely if these were such a bargain the directors should have been filling their boots?
Tempted to buy at these prices but see Liberum Capital decreased their price target on shares to 100.00 yesterday, could be the proverbial falling knife. To buy or not to buy that is the question :)
I agree with almost all of what you have said with regard to the history of GNG. But i am only concerned with where we are today and the likelihood of GNG's share price recovering, for me its a straight forward punt. If the shares go below 7.50 i'll sell at a loss, if they go above 12.50 I'll sell at a nice profit. For me on balance, I simply see a greater chance they will hit 12.50 before they hit 7.50 and as such there is a greater chance of making money than losing it......simples.
We are all aware of the issues surrounding GNG. However as you have stated in previous posts. Sub 10p the cash value alone of GNG makes this a good recovery play. I'm not expecting it to return to the dizzy 40+p prices but I am relatively confident that I can make a 25% + return on my investment at a 9.1p purchase price. So I don't get the point of your original question unless you were simply looking for an excuse to post research....... Short or just hoping for a lower entry?
We can, but why not just click on the RNS tab above and do a bit of research :)
MCap of £3.4 v £5.3 million cash has to be worth a punt i'm in for 2k at 9.1 and i'll have another chunk if it pulls back any further
Pretium... advisory broker, I use them on a separate IG cfd account, but also do my own execution only trading on a normal online trading account with selftrade.
Momentum is starting to build again. Its starting to appear on the radar, interestingly a had a reco on this from my broker yesterday suggesting a buy, nice to be able to tell him I was already in a month ago for a change :)
The 12,500,000 shares must have been a buy not a sell as the price stepped up straight afterwards. Nice to see so many familiar faces here all of a sudden...good luck all
Plainly someone knows something...was in originally with 50k of shares, just topped up another 150K after taking money out of ADH. Looks good for a for the run up to the next RNS, curious though why price hasn't moved with such large volume but guess its still the overhang being cleared. Anyone got a level 2 screenshot to see where the mm's are?
Can you not see how stupid your blatant ramping is? Just look at what you achieved yesterday 12,660 shares bought...250,000 sold. With a spread this wide (20%) nobody in their right mind is going to buy in to this at the moment. Add to that the fact that you are deliberately misleading people with claims to have bought masses of shares yourself when its clear to everyone that you haven't, also your claims that there is mass buying on plus markets when this share isn't even quoted on plus markets means that you are only doing more harm than good. Therefore I suggest you be quiet and let the share find its own level. Rant over!
This company isnt quoted on plus markets? The live spread is still over 20%, are you sure you have the right board?
If u look at company website...directors have just bought shares at 2.38p 1/10th of the quoted share price???? Can someone explain please?
I see ppr has started to tick back up nicely in the last couple of days. The interims are due end of this month, hopefully the good news on PPR will have a knock on effect on Eruma
A bit of ramping is ok...but looking at the board, think you might be overdoing it mate...too much of this is more likely to put people off, the shares are at bargain basement so let the price action and RNS's speak for themselves
New to this board, I'm a existing PPR holder and just put a grand into ERU, so whats the story with this one? Does anyone know the story behind the FD's departure? Looks like its had a bumpy ride since aim listing but IMHO it seems somewhat oversold. I was encourged to see suppliers taking shares in lieu of fees... anyone got anymore background on this one other than jonhjacks posts?