Angus Energy Share Discussion Threads

[jtidsbadly] 05/3/2021 18:42

chickndinner: perhaps, being so green (in both senses) he’s got a composting toilet with a heated seat. Or he’s undergone hot pebble therapy. Or drunk warm mineral water. Does any of these qualify as geothermal experience? It’s his long, high-level experience as a finance expert that mystifies me.

[chickndinner] 05/3/2021 18:33

To be fair though. GL is only an interim MD with zero oil and gas experience until they find someone qualified. Oh wait a minute GL must have experience in geothermal as this is his new sales pitch!

[clottedq] 05/3/2021 18:04

JT: "Some of the smarter people on the other site are getting there, but they’re not there quite, yet."

LOL! I agree... athough "smart" is too generous a word. "Gullible" would be more appropriate under the circumstances and ONLY NOW "coming to their senses"!

Attitudes towards Anguish right across the board(s)are now in sync, or so it seems.
Quite enlightening that it's no longer just the (apparent) "Stale Bulls" who are questioning the logic and veracity of Lucan's claims isn't it?

His "Judge me by by achievements" quote must be coming back to haunt him around NOW - two years after - with ZERO sign of anything worth shouting about other than further share price devaluation, underestimation of costs and ridiculous over exaggeration of operational timelines!?!?!

When "EVEN" your own cheerleaders turn against you... as an AIM CEO your time is numbered IMHO ( a lot like this - dog of a company's - Market credibility has been for the past few years).

How ANGS continues to limp onward is completely beyond me! The FSA should put it and long suffering shareholders out of their misery for good and prevent the serially inept members of this BOD from ever taking up roles in business ever again. Just like their long term "stated" goals for the company (each and every one of which has FAILED)... they are "NOT" fit for purpose!

CQ :-)

[jtidsbadly] 05/3/2021 15:31

Some of the smarter people on the other site are getting there, but they’re not there quite, yet.

Anguish needs a lot of money. Banks seem unwilling to lend. They may want to see half at least of the Poundland investment coming from equity investors.

Anguish hasn’t released its 2020 accounts. It’s possible that they’re in discussions with the auditors as to whether the company is a going concern. I think the auditors might prefer to see a loan signed and the money in the bank before approving the accounts. If the accounts are released with an auditor’s qualification as to going concern status, lenders will run a mile. But if Anguish therefore decide to delay the accounts, they can’t issue any more shares. They’re in a cleft stick. Catch 22. And quite apart from the auditors, the Directors of a company who trade with third parties knowing they may not be able to pay their invoices can be subject to prosecution and to swingeing penalties.

Furthermore, even if they were to secure a loan of £6mm. without a similar sum from the equity market, this would keep the lights on at Anguish for little more than a year - 18 months at the outside. If they were to get a loan at the end of April, by the interim MD’s recent calculation of 7 months for all the kit to arrive, the thing won’t be producing gas before the end of the year. By that time they’ll have spent £3mm. of the £6mm. on corporate expenses, port etc., leaving a large deficit on the kit purchase account, without massive fresh equity injections.

Can anyone tell me please how this can survive? Why isn’t the market cap. below £1mm.? What have I got wrong? I may be wrong about the auditors but the data speak for themselves. Perhaps the new shareholder is an eccentric multi-millionaire with a liking for the company of bon vivant aristocrats?

Meanwhile, Ocelot has just set a trap for the poster calling himself balancedviewer. I think she’s behaving as an employee at a PR firm might.

[jtidsbadly] 05/3/2021 08:59

The share price is holding up remarkably well, in my view. This should have halved and still be on its way down.

No report and accounts yet today. So no placing for some weeks. Things could move quite quickly, since it appears as if events may be out of the Board’s hands now.

[hasago] 04/3/2021 22:45

Who cares just rinse the profits lol

[jtidsbadly] 04/3/2021 22:44

The SPACs, they put me in mind of some of those companies promoted at the time of the South Sea Bubble. The most egregious was a company promoted “For carrying-on an undertaking of great advantage but no-one to know what it is”.

Good luck with those.

[hasago] 04/3/2021 22:21

Boom both snt and mogp both spac companies both set to rocket both at floor prices, I'm a big share holder here but these are big winners ?

[jtidsbadly] 04/3/2021 22:21

No, nor about Lincolnshire King Edwards. Proper cash flow prospects. I bet Jonathan forgot to order the seed potatoes. He could have put in a good order for chickndinner's rocking horse product too.

[chickndinner] 04/3/2021 22:19

As I've been saying for a long time. GL has a long list of AIM BOD'S following this funding saga to see how it can be done?

If he doesn't pull the rabbit out of the hat then what's next?

[wolfofthewoods] 04/3/2021 22:16

Absolutely nothing in the presentation about the fashion brand, brockham spring water or elephant polo tassles. They just arent taking this seriously.

[jtidsbadly] 04/3/2021 21:55

.. I might have added that, apparently inadvertently, the interim MD has managed to arrive at the conclusion that I’ve been suggesting for many months - that Poundland isn't a project which a small company like Angus should be trying to finance entirely with debt in the first place. It’s fraught with risks and they can’t offer a potential lender any security at all. They thought they could bring it to production with £2.5mm. in cash but they just got their sums massively, hopelessly, ineptly wrong. Simple as that, really. Amazing that people have backed them in placings for so long, isn’t it? But investors have been misled about the financial position for a year.

[jtidsbadly] 04/3/2021 21:42

JA51: that’s how it seems to me, too.

[ja51oiler] 04/3/2021 21:38

Yes without that loan, it's at that point with everything isn't it,

Damned if they release the Accounts, and the uncomfortable truths contained and a tumble in the share price, or a tumble in the share price and any last confidence in the BOD if they don't.

In all seriousness why would anyone consider giving them a loan now? If they wait a couple of months they can buy the company for peanuts and cut the deadwood out if they seriously think it's viable?

[jtidsbadly] 04/3/2021 21:06

JA51: being required to de-commission Brockham shouldn’t present a problem, should it? It’s got a ring-fenced reserve covering the full cost, hasn’t it? They haven’t spent it, have they? It seems that, whatever they decide to do or not to do there, it’s going to cost them real money that they haven’t got. And they’ve inflated their wages budget recently too.

I assume they didn’t say whether they’re still covering Aleph’s reasonable expenses? That appears to have been money down the drain, really. I’d very much like to see the 2020 Accounts. It seems to me they should be having serious discussions with their auditors on the subject of going concern status and the alternative courses Directors of a company in Anguish’s position should be considering. Maybe that’s why he looked dishevelled and was gibbering. No loan nor prospect of one, heavy monthly expenditure and no income, falling share price and declining investor confidence. If I’d taken shares in the recent placing, I’d have my sell order on well before the market opens tomorrow. That’s not a recommendation, it’s just what I would do.

[ja51oiler] 04/3/2021 20:17

King gob on.

Anyone who watched that "Investor" presentation will realize who the clown is!
If anyone had been considering investing they would surely have changed their mind after watching that. He gave the impression of a gibbering wreck...what the hell was he talking about when asked for the figures on the Geothermal??? He looked a bit disheveled and exhausted also don't you think?

JT I believe that it will be available according to the website. I'll post a link when it appears.

[chickndinner] 04/3/2021 20:11

King Buffoon.

[chickndinner] 04/3/2021 20:09

King Gubbon you obviously like having your ears tickled. You should change your monicker to Buffoon.

[chickndinner] 04/3/2021 19:47

Ocelot. Your real name isn't Alistair Campbell is it?

[jtidsbadly] 04/3/2021 19:29

No, can’t attach it.,

JA51: did they video the session? Do you think it will be on the website tomorrow? Is it true, as Ocelot says, that the Earl said it was possible that Poundland would come in within the latest budget? That’s £12mm, then? But no news on a loan and suggestions of another imminent placing? They can’t have one of those this month though, can they, if they need shareholder approval to issue more shares? Frazer Lang seems to have dodged a bullet here.

Where will it open tomorrow?