Upland Resources Share Discussion Threads

[truant2tb1] 25/10/2023 14:12

PWhiteAt what point do you accept there is no genuine bid?

[neo26] 25/10/2023 14:12

The best post i read.

[pwhite73] 25/10/2023 13:58

ZENGAS - The unequivocal rejection of the bid because it undervalues the company has nothing to do with assets that may or may not exist. It is solely to do with job protection for the directors. It is not an infrequent occurrence for directors to reject bids only for the company to go bust a year or so later.

The point you make is valid. There is no apparent financial or technical reason why the directors would reject such a high bid but to serve their own self interest.

[zengas] 25/10/2023 13:48

Originally invested here in 2015 but after COVEs Steve Staley went 4 years ago in Oct 2019, i remained on the sidelines ever since and studying the latest news.

Gone from 213m then and with the latest excerise in warrants just shy of 1.2 billion shares today.

Almost 9 years and regardless of share price appreciation to date i don't see where the value is in any of the assets relative to 14p because i would undoubtedly buy at 3-6p if i thought it was on.

A number of questions for me is why after all this time of languishing do they unequivocally reject the offer as it significantly undervalues the potential ?

That's a (£168m) $200m valuation. Who pays that kind of cash for just part of a virgin block.

It's 45% of a study on a 6500 km2 block with no wells drilled and just 456 km 2D and no 3D seismic and no psc.

That's $200m for something that they haven't got as a psc. So is the entire block really worth pro-rata 100% basis around $445m ?

Phenenomenal money - yet they dismiss it uneqivocally - ie not entertaining it.

Given UPL will need more cash (drilling, 3D, PSC payment and only very small 2D coverage) - how much is needed taking into account further shares in issue versus today ?

On that dilutory basis and taking into account all the drilling risk can they explain why it is significantly undervalued and how they see or think the share price will be relative to the dismissed 14p ? on a further 6-12-months/2 years timeline risk with x amount of additional shares ? versus dismissing 14p which is a 600% premium to the 2p share price 3 weeks ago.

They said in their last results they have to bid for the PSC - this leads me to ask another question, what price the government will seek from UPL for the block now they know the company is dismissing a figure of $200m for UPL itself ?

[loglorry1] 25/10/2023 13:34

PWhite had you buying CINE all the way down to zero. (S)He's clueless.

[oilisgold] 25/10/2023 13:29

The share price hit 3.75p Last week. Seriously you get all sorts of nasty ppl posting on these boards. I remember PWhite on another board, one investor thought he died of cancer when he stopped posting there

[oilisgold] 25/10/2023 13:26

Effectively we are now where we were before Mondays announcement. The news sadly has been put to bed by corrupt shorters and those spreadbetting.

[oilisgold] 25/10/2023 13:22

You take a risk for high rewards. A lot bought in 5 to 8p. Lets wait untill 20 novemver 2023. Very interesting times ahead

[pwhite73] 25/10/2023 13:12

soulsauce - "So no evidence other than what you perceive."

Of course its what I perceive. Where do you think these 200k, 300k, 400k and 500k sells are coming from. Its not PIs they're warrant holders who exercised at prices as low as 0.4p.

The share price is almost back to the pre-offer price but in order to find buyers for the warrant holders the MM have to keep reducing the offer as PIs get tired of buying at prices only to watch the price tumble. So to get PIs to bite they move the offer down. When the 4p buyers are exhausted they will move the offer down to 3.50p and try again. The effect is the same as forward selling discount placing shares.

[the codger] 25/10/2023 12:40

Don't gamble what you can't afford to lose

[babbler] 25/10/2023 12:32

I'm sure the FCA are already all over this right now and the recent RNSs... :p

[soulsauce] 25/10/2023 12:30

So no evidence other than what you perceive.

[pwhite73] 25/10/2023 12:27

The evidence is in the trades. From the day of the announcement on 23/10/2023 the buys have outnumbered the sells but the price continues to fall. This can only happen if people are selling into profit. Its similar to the forward selling of discount placing shares. PI buys are outnumbering sells but the price is going backwards and for the life of them they can't work out why. What's happening is that they are buying at 4p when MM will sell discount placing shares all the way down to 1p.

The trades are not random like lottery numbers. A share price falls for a reason. As for shorting I doubt you could open a short on UPL. For the umpteenth time shorting is not the same as spread betting which is what 99% of PIs who think they short are engaged in.

[neo26] 25/10/2023 12:22

Which entity

[soulsauce] 25/10/2023 12:16

PWhite what evidence have you got that the recently acquired warrants are/have been sold other than idle speculation?

[soulsauce] 25/10/2023 12:14

What I would say is that the company should call out those saying this is a lie as it is questioning their integrity.

[pwhite73] 25/10/2023 12:13

oilisgold - "Reasons for todays drop is shorters and TW crew are spreading lies regarding the bid being fake."

That's right blame shorters and TW. They're responsible for every single drop in the share price of every single company. No the blame lies 100% with the exercising on 100 million warrants at the same time as the company announced it had received a potential bid at 14p per share.

[dead duck resources] 25/10/2023 12:13

A Malaysian-associated entity listed on a foreign junior market announcing a $200m indicative 'very preliminary' approach, leaked beforehand with the RNS 'in response to market speculation'. Instead of crying foul play, we should be celebrating this management's entrepreneurial flair imho.

[soulsauce] 25/10/2023 12:12

goforgold the voice of experience 🤣

[oilisgold] 25/10/2023 12:11

This has spooked many novice investors. If a formal bid does come then we be closer to indictice bid price. I know its tough as many in huge lose now but dont panic sell

[goforgold1] 25/10/2023 12:09

Mms at their best at taking money of Sheep following Sheep . Mms have been shorting this down since yesterday afternoon Volume dried up now so they can do what they want . As FEAR in the share now FOMO gone

[oilisgold] 25/10/2023 12:09

This is not AIM,its main listing. Just a coordinated short attack that is continuing. Reasons for todays drop is shorters and TW crew are spreading lies regarding the bid being fake. This has spooked many investors as there been suggestions on the offer was made to make money for some friends of the person who bid and the board were involved.

Complets lies

[neo26] 25/10/2023 12:07

What the hell is happening...

[michaelwhight] 25/10/2023 11:54

Gap filled?