Metalnrg Share Discussion Threads

[excellance] 18/11/2021 11:13

Confident that this is a storm in a teacup, and the cynic in me wonders if it is in fact contrived as an easy way to exit britNRG quickly...

Please can we just focus on gold ridge now?

[tomboyb] 18/11/2021 11:11

Taken a nibble -

Lets see how low sellers take this and then put a bit more in -

[block4gooner] 18/11/2021 10:59

I KNOW they have other significant shareholdings They, fortunately, do not have all their eggs in one basket.Yes it's a good % of their PF but they go by the mantra "never invest what you are not prepared to lose"Full disclosure btwAnyone on telegram know that the Spencers' are Mr and Mrs Block4gooner which coincidentally is my user name.Go figure:)

[tomboyb] 18/11/2021 10:48

Bit of a hit but not all bad -

Joined u excellence on MNRG -

[excellance] 18/11/2021 10:41

Looks like our exposure was for about £475,000 which was paid via convertible loan, which has presumably been converted into mnrg shares and sold off.

[excellance] 18/11/2021 10:22

The financial exposure to the BritNRG coup is quite limited, and now we can focus on our Schaffalitsky assets and esg credentials.

We will get over this.

"Holding man" Geritson will go, along with his strange business model and poor judgement, and the company will be reborn.

I'm actually beginning to see this as good news, and we can now move on incumbered!

[32campomar] 18/11/2021 10:17

And spare a thought for the Spencer's huge shareholding. Although more fool them for betting the house on it, must be mad.

[32campomar] 18/11/2021 10:13

Couldn't agree more with that, I think some on here may not be aware of the previous shambles. As I said earlier the company is clearly very badly run, there are no excuses, it's just sheer incompetence and there's is no way of regaining confidence until the man at the top steps down.

[excellance] 18/11/2021 10:10

For Rolf, it's another failure to go along side the lake Victoria gold fiasco where anyone who did just half an hour's research could see that the LVG deal was very risky.

This brings into question the integrity of mr geritson who is a serial failure at this level.

[excellance] 18/11/2021 10:07

It looks like Rolf has opted to simply accept defeat, back out of the arrangement, and accept the loss.

How much is that loss, and potential liability?

I think we only invested quite a small sum, so the loss is really already reflected in the SP, assuming that no britNRG value was reflected in our share price

What are the benefits of getting out of the oil industry?

Well, I never liked the deal from the start, didn't like Rocco either as it happens, so this is a positive aspect for me, and now the door is open for EUA to take an interest in MBRG (or gold ridge) on the cheap, with much better ESG credentials, and save the day.

[witchywoo] 18/11/2021 09:40

at best it's gross negligence - I'm surprised there has not been a suspension as there's a definite whiff of fraud here

[2magpies] 18/11/2021 09:34

Goodness.

Talk about being utterly outplayed!!

The expression 'asleep at the wheel' comes to mind.

[excellance] 18/11/2021 09:24

It appears mnrg are still liable for consideration payments to the vendor, despite BritNRG not issuing us the shares in the JV that we were promised, because Rocco who was acting in consort with others to take control of the JV and decline the issuance of shares to mnrg.

So now, knowing he's been outplayed, Rolf can only try to nullify the agreement on a technicality.

He put too much trust in the Italian, who took his opportunity, dishonestly but possibly not illegally.

Rolf should resign.

[excellance] 18/11/2021 09:06

Very disappointing.

Obviously Rolf has had to be very careful with his words, but it appears that Mr Rocco has pulled of a coup.

[lew stules] 18/11/2021 09:00

Very disappointing news, was not expecting that to be honest, the only consolation that I didn't buy more earlier in the week.
Just hope they can get Gold Ridge up and running now and will be holding to see where we go from here.
The Spencer's have taken a huge hit today.

[dubjon] 18/11/2021 08:34

Had a tiny top-up.
Bargain time!

[32campomar] 18/11/2021 08:17

Shambles of a company

[witchywoo] 18/11/2021 08:14

not sure where the MM's are hiding all the trades, only 8 showing on my L2

[galarse] 18/11/2021 08:12

Looks like it didn't

[dubjon] 18/11/2021 08:02

Maybe the market already knew this?
We will soon see.

[dubjon] 18/11/2021 08:01

 Rocco's refusal thus far to answer direct questions put to him about his relationship and interests (both direct and indirect) in BritEnergy Holdings LLP at the material times have now led to MetalNRG serving formal notice of recission of the April 2020 Agreements on BritEnergy Holdings LLP and to issue a formal letter before action, against BritEnergy Holdings LLP and Mr Rocco, seeking recovery of all payments made under the April 2020 Agreements, on the basis that they are voidable by MetalNRG for lack of shareholder approval, such shareholder approval resulting from a failure of Mr Rocco to make a proper and/or full disclosure of interests.

[galarse] 18/11/2021 07:54

My worst holding is about to get a lot more worse!?

[spawny100] 18/11/2021 07:52

Lew stules - I think people will be able to buy well under 0.4p today and for foreseeable future. Sounds messy.