Just looked in, as I do from time to time, and, given the relativelymoribund state of this company, I was surprised to see so much chat. Even more surprised at your rude comments about other board members.
Given your stated inability to understand whats going on here, might I suggest that youre out of your depth and shouldnt really be playing the stock market.
However, thats your prerogative, and far be it for me to give anyone advice on investment strategies .
Folks on this board tend not to visit often, as the number of posts over the last year should tell you. To expect immediate answers to your questions seems to be as naive as your investment experience.
Perhaps you could try again to develop your bb skills?
The man from Peel Hunt has a massive hold-all with all their shares in and is shuffling along the lonely empty beach that is Tower share ownership! Each time he puts it down for a rest he automatically triggers a Holdings RNS. Someone please tell him to just hold tight and just wait for the tide to come in and just wash the lot away and just be done with it.
Personally I only need to wait for a 2000% rise here before i break even so Ive got my deck chair out my hanky tied in knots and my trousers rolled up above the ankles in keen anticipation of a higher than usual spring tide that will hopefully be strong enough to carry the whole sorry sack of SHahooT out to further than the eye can see! GLAH
If anyone knew the answer to your question I guess they'd be a very rich person indeed! In 15 years of 'dabbling' in AIM shares it has always been source of equal exacerbating and surprise to me that SP's seem to have the capacity to go up or down on good news and drift up or down on no news!!
I've always had the sense that the MCaps on small exploration companies are pretty arbitrary as these types of companies are largely sitting on unrealised or unexplored assets with the majority having to farm out or down to really achieve much! Quite how the mm's 'risk' the value of 'two birds in the bush' is probably known only to them or some predictive algorithm devised by a clever trader!
However to me this investment was always...and remains... a bit of a punt!
Tower Resources' Jeremy Asher on the tantalising opportunities in Cameroon
Jeremy Asher, chairman and chief executive of Tower Resources PLC (LON:TRP), speaks to Proactive's Andrew Scott as the Africa-focused oil explorer resumed trading on AIM after raising £2.1mln through a placing backed by directors and financier Lansdowne.
Thanks, PR. Some good, some not so good. SOU, ECHO, showing a nice profit with more to come, breaking even on AFC (hopefully more to come there) . Have you had a look at HDD ? Lots of upside when they start getting the aero orders in.
In a similar position to you with regard to TRP. Their acreage looks promising but with no funds to develop it theyre going to have to sell their Grannies to make it work.
No point selling for just a few bob. Hang on in there and hope.
But if I but £30s worth Ill more than double my holding..and reduce my average substantially. Hmmm???
Back on show today after further funding (at 1p)
Directors takingfees in warrants
Other fees paid in additional shares.
Lets see what happens now.
Further funding will be needed to drill in Niger Delta but it is a highly prolific area.
Could be interesting.
This is a tricky call.
Do I want to buy two more shares for every 13 I hold, to avoid my holdings being diluted?
My holdings were consolidated to one share for every 250 that I held a year ago. Consequently my original 400,000 shares is now a mere 1600 shares.
This Open Offer will entitle me to purchase 246 new shares for 1p each = £2.46.
So I could soon be the proud owner of 246 new untradable shares!
I guess I'm just going to have to pass. I am not prepared to invest another penny in this pos.
offer to buy shares in a suspended company that will remain suspended......at about 40% of the value at suspension - 1p.
key statement is the last paragraph....not one for widows, orphans, or anyone else......
"The Directors applied for suspension of trading in the Company's shares on AIM on 12 May 2017 pending clarification of its financial circumstances and have undertaken a number of cost reductions across the Group. As at 28 June 2017 the Group had £55k of cash reserves and completed a private placing raising £180k on 30 June 2017 prior to issuing an open offer to the shareholders to raise additional finance. The Group will need to raise further funds in addition to these two share issues prior to 30 September 2017, or to agree a farm out or other transaction involving one or more of the Group's licences, in order to meet its liabilities as they fall due. The Directors believe that they will need to raise funds of approximately £2.0m in total over the coming twelve months (mainly to fund obligations in respect of the Thali license) and consider that there are a number of options available to them either through capital markets, farm-outs or asset disposals and are confident that these will be concluded satisfactorily within the necessary timeframes. The Directors do not therefore intend to cease trading nor do they believe that there is no realistic alternative to doing so. The annual financial statements which were announced to the market on 30 June 2017 were therefore prepared on a going concern basis.
However, there can be no guarantee that the required funds may be raised or transactions completed within the necessary timeframes. Consequently, a material uncertainty exists that may cast significant doubt on the Group's ability to continue to operate and to meet its commitments and discharge its liabilities in the normal course of business for a period of not less than twelve months from 30 June 2017, being the date of the Company's annual results. The financial statements do not include the adjustments that would result if the Group were unable to continue in operation such as the impairment of the exploration assets."
Well, well, still alive but certainly not kicking. Not sure the remaining assets have value. Clearly the directors have a positive view, to put £50k+ of their personal fortunes in.
You never know, if the PoO suddenly shoots up to $60 a barrel we may get renewed farm In Interest. Till then go back to sleep.
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