Legendary Inv. Share Discussion Threads

[bionicdog] 25/3/2018 14:05

Slightly longer on the way back I fear.

[chinese investor] 25/3/2018 13:51

Scorchio in Copacabana !

[bionicdog] 25/3/2018 13:49

We are currently in the eye of the tornado. It may appear calm , but when professor Wetherspoon returns suitably refreshed from the Moon on the Hill all hell will break loose.

[krisg] 25/3/2018 11:24

Does anyone know the original investment into Manas? Seems holding was transferred from a previous company

[bionicdog] 25/3/2018 11:22

Spoons are open , but they don't sell finest claret.

[paleje] 25/3/2018 11:13

Morning Prof, and although I think your summary is ok, the only asset really worth bothering with is VS so this is still a one trick pony. It would be better off cutting all admin costs incl directors to a bare minimum and just waiting. No more investments, no wasting cash on exes, no speculating at all.

Just wait. I re-entered on Friday and might add more if the placing is much lower. It does seem to be at an unrealistic low in a very uneasy market as you point out. It's a punt, not a bad one imo.

[krisg] 25/3/2018 11:05

SoupYes valuation would be interesting

[bionicdog] 25/3/2018 11:00

Interesting that an early pub lunch can be had an hour before they open. Still , it's good to get out.

[carefreesid] 25/3/2018 10:56

pettigrew

You still amazingly cling onto the belief that VS is worth £66mln.

Have you seen what tech stocks have been doing recently?

With no new contracts since Notion came on board, loss making tech stocks being slammmed, I'd be surprised if the current valuation of VS is as much as half of £66mln.

On that basis, with the rest of the assets worth next to nothing, LEG out of cash, a placing coming and possibly a suspension after Easter, I'd say LEG shares are significantly over valued.

[soupdragon55] 25/3/2018 10:50

Indeed there wasn’t.

Although with oil there will usually be somebody at some point willing to take a chance.

I think at the time the oil price wasn’t conducive to the risk on that block. It may be worth someone giving it a go if the oil price is in the right ball park.

[professor pettigrew] 25/3/2018 10:50

I think possibly the nearest you'd get there is VS reversing into LEG to gain a London quote, then perhaps the other assets would be sold off.

Interesting times ahead.

I'm off out for an early pub lunch.

GL to all genuine holders and commentators.

[krisg] 25/3/2018 10:47

Soup interestingly when Circle went Bump there was no interest in the Tunisia part of the group

[krisg] 25/3/2018 10:41

PP LEG have outstanding liabilities to pay. Directors have had 15 years of abject failure.

[soupdragon55] 25/3/2018 10:39

Krisg needs to remind PP that the £126k cash was back at end of Sept 2017.

Zaf burns £320k cash per year, equivalent of £26,600 per month. So in the six months since Sept. he theoretical has burned £160k, so the company should be treated as cash negative.

This allied with the £275k known debt means the company is in a bad situation as it has no broker (yet) to carry out a placing.

Zaf will have utilised the remaining £150k of the loan facility, he has a habit of not telling shareholders when he borrows money.

[professor dad] 25/3/2018 10:38

You've got some front dave.

You either ban or are rude to anyone negative about this pile of poop, and now come on begging for people to explain the valuation to you?

Given you've basically admitted you're clueless, you'd have been better off doing that research before you went all in here.

[professor pettigrew] 25/3/2018 10:35

What, in effect, you are saying there krisg is that VS is our only thing of value, apart from the £126,000 in cash.

Don't forget Amadeo is a quoted company, that's £20,000 at the current bid.

But I take your point, obviously except the last one. I don't know any directors that work for nothing!

[professor pettigrew] 25/3/2018 10:31

er, strongly disagree, but thanks for your input.

[soupdragon55] 25/3/2018 10:20

Meanwhile...

In December 2017 - Dunraven Resources Plc was set up

Alex MacDonald became Chief Exec in February 2018.

Alex MacDonald - Chief Executive - Dunraven Resources Plc (based in Dublin)

Dunraven Resources is an independent privately held oil and gas developer, incorporated in the republic of Ireland. Dunraven recently completed the acquisition of Circle Oil Tunisia Limited, which holds the Mahdia licence and has prospective resources of 100mmbbls. Dunraven will now seek to develop the licence.




So... the question for Zaf is, why haven't shareholders been informed and what valuation did Dunraven place on COTL?

Thats my bit of research done for the day.
Laters all.

[krisg] 25/3/2018 10:13

Best bet for LEG shareholders1 Sell all assets apart from VS. 2 Transfer VS shares to shareholders.3 De list from AIM4 Remove directors Salary and expenses.

[bionicdog] 25/3/2018 10:00

It might not be Mick , the prof might have hacked his phone. I notice that nobody complains about the share price You'd have thought that they'd be turning on him by now.