Spitfire Oil Share Discussion Threads

[tara7] 11/3/2014 07:57

Directors options have to the end of the month to hit over 12P or they are of no value to them.

If they expire on the 31/03/14 shareholders gain as an extra 4M shares will not be issued.

So it's a win win for stock holders.

[tara7] 11/3/2014 07:28

New thread as requested.

For your money,you get.

Bags of cash:( just about twice what you put in!!)

Mining rights.

Tax loss

The chance of a deal that will only be done if the returns for shareholders will be worth it.(see accounts)

Company buying back it's shares.

Very low running costs of just £70k for the half year.

Fun.

[tara7] 11/3/2014 07:24

That beats any bank account !.

[tara7] 11/3/2014 07:16

Plus the tax loss has a bit of value as does the fact they are trying to to a deal that would make real money for shareholders.

Thus real value might be £6M in my view.

[double6] 11/3/2014 07:04

....think we need a Tara thread to make more people aware.....

[tara7] 10/3/2014 22:31

If a deal is done you could be buying a five bragger or more (over time) for a song.

It should be worth it's cash value, it's land value rights, and it's listing value.

I put that at around £3M for the cash £3M for the mining rights and £600,000 for the listing

Thus £6.6m less a bit for risk leaves £5M in my view.

Can be bought for £1.5M today.

[tara7] 10/3/2014 22:25

The reason I am here is due to the fact you are buying a company for free and getting an extra 85% of value (cash) on top.

[playful] 10/3/2014 22:11

Been sleeping here for years and now Tara pops up so something must be in the wind..

[double6] 10/3/2014 19:56

...could the seller now be out of the way ?

They've been dumping 100k at a time, but dumped 175k today. If they're finished, this will finally fly after all the waiting.

[tara7] 10/3/2014 19:21

Keeping going cost just £70k over the last 6 months or .03P per share.

So no worries on that score for years

[poleaxe] 10/3/2014 19:16

Give it back to the investers instead of paying directors to sit on their bums.

[tara7] 10/3/2014 18:15

Options at 12P run out at the end of the month (directors) 12P

Will directors do a deal by then ?

If not the 4m extra shares go in the bin.(great news for shareholders)

Cash is just short of double the share price.

Nuts valuation!!

SHARES COST JUST 6P TODAY

[poleaxe] 14/1/2014 21:59

Better to wind it up and dish the spiols out to the pi's

[jimbob17] 08/1/2014 14:26

Hi,

Think these look great value -cash is double the share price and minimal cash burn.
They just need to go and find a good deal/reverse takeover !

[charmer1_23] 06/1/2014 15:24

Market cap at current mid circa £1.488mil & cash after recent repurchase of shares circa £3mil, should be scope for upward movement as annual running cost kept to a minimum, now up to the board to actually get a deal done. Net Assets as at 30/06/2013 circa £8.45mil further underpins however there will be less interest payments received in future as a result of the reduced cash balances after share repurchase from Griffin......

[double6] 06/1/2014 14:19

So now a MC of £1.3mln, with £3mln cash.

[mariopeter] 02/1/2014 14:22

Is there a need for Griffin directors here?

[playful] 30/12/2013 23:31

This certainly has my attention as I did not miss Ninkov's remark in the annual report

"As always, the Company is driven by completing the right acquisition to ensure the largest and longest returns to shareholder. May it be this year."

[trawl] 30/12/2013 23:03

mkt cap 2.4 mil cash approx 3.5
is this a parachute for the gfm directors
if gfm gets taken out kinkov and goodwin
have a new home if not they still get paid twice

[double6] 17/9/2013 07:42

Still looking at technological options.....

....one day........

[charmer1_23] 08/3/2013 13:47

Good old SRO, what's the point of all the cash on the balance sheet if no deal is forthcoming while they continue to draw handsome corporate expenses. Yes they've had the cash to tempt for a while....

[double6] 08/3/2013 13:36

Got the cash to tempt .... as well as tax losses.....

[mariopeter] 08/3/2013 13:35

Needs a deal.

[double6] 08/3/2013 13:34

Prime RTO material, based on latest results.

Still £5mln cash.

Minimum of £3mln tax losses to be utilised.

Cash outflow a paltry £100k in 6 months - thus even in 10 years time, they would still have cash more than the current MC.

Bargain!