Ladies, Gentlemen, Boys, Girls and those who associate with something else,
In honour of this weekend of Eggs I have taken myself on a shell hunt.
@pilsner @Jako64 it has been two years since we began this list,
Time flies. Let’s have a little recap of what has transpired in that time.
Matthew Walker has made a lot of people wealthier and left a few scratching their heads. Peter Wall has generated enormous amounts of fees for his law firm. Jason Peterson has owned more shells than a battery hen. The Cygnet crew have delivered bags and bags of success, well except for BID. The Israeli’s have given us a 50/50 chance of dollars of return despite the always excessive valuations. Faldi and Otsana are nervously awaiting the jury to return from deliberation on their efforts. The GTT boys have failed miserably in their tech vends but had great success with their mining plays #WTFmoment. Honourable mention to Shannon Robinson for her 4/4 appearance on top performing vends EQU, SFI, FBR, YOJ.
Will Ross Smith be back with his killer drones one day?
LWP #criminality XTV #unforgiveable MKB #disappointing NOR #rinseandrepeat MIG #who
The ASX ‘CASINO’ SHELL LIST UPDATE
1PG- Currently a boardroom fight to oust the founder and return this once market darling RTO to a shell status.
8CO- with Realtors8 earmarked for sale, we will be able to focus on pursing purity and growth in the Enterprise Performance and Productivity Software space.
AAJ- In addition to its current projects in Western Australia, Aruma continues to evaluate other potential project opportunities.
ACL- The Company continues to remain open to the possibility of corporate transactions, such as sale or licence of the HyACT technology in the future. The company considered a number of approaches from external parties which included mergers and other corporate transactions, but it was the opinion of the Directors that they did not offer shareholders sufficient certainty of adequate return.
ADD- The Group is also continuing exploration on its uranium project at Lake Surprise in South
Australia as well as evaluating other uranium and coal exploration opportunities……Lots of debt and raising's, could be an idea to let this one play out a bit longer before entering.
AER- Ongoing discussions continue regarding potential acquisition proposals…..Not a shell as such but that statement has me watching it.
APY- Due diligence continuing on new business development opportunities… Lots of cash and lots of shares. This one would look a lot better if it did a consol. They tried to acquire a horrible business which gives me concern as to the ability of them to put something good in here.
ARO- During the Half-Year period, the Company undertook a detailed review of a potential gold exploration project. The project was assessed to be a sound strategic investment for the Company. However, for the Company to proceed, it would have been required to re-comply with the listing rules of the ASX. Despite the strong merits of the project, the Board considered that it was not in the best interests of shareholders to proceed as the costs of the relisting outweighed the benefits. Notwithstanding the above, the Company continues to review investment opportunities.
AR1- In suspension pending announcement of an acquisition.
ARX- on 5 October 2016 the Company completed a placement of 950,000 shares at an issue price of $0.60 per share to raise $570,000 with Taylor Collison Limited as the Lead Manager. The funds were raised to provide the Company with additional working capital and for the investigation of further exploration opportunities.
ASY- In suspension pending announcement of an acquisition.
AVD- There is a crazy theory being circulated on this, see the thread. But here’s a hint. Jahman ;-). Madness right! I mean what a shameless attempt of a pump, imagine if a listed company did that…Oh wait, ZYB did.
AXT- The board of Argo continues to seek and review further opportunities in the natural resources sector. In reviewing such acquisitions the Board needs to evaluate the potential upside of any acquisition, against the relative potential of its existing Pantheon shareholding. This evaluation requires the Board to recognise that any acquisition of a new project may require some form of dilution, most likely by way of an equity issue in some form, or the divestment of some of its Pantheon shareholding……. Has a $2.5m tax bill to pay but it’s holding of Pantheon shares is worth ~$9m.
BAU- The Company is also pursuing other exploration opportunities as seen with the recent pegging of the Lort River Lithium Project, where reconnaissance field work is planned in 2017 pending finalisation of a heritage agreement. Other investments are also being evaluated both within and outside the mining sector….. Not bad this one, LOTS of cash and with an EV of ~$0. Sam Middlemas potentially one to watch.
BBR- In suspension while they finalise the acquisition of a subsea cable and IT infrastructure company.
BDI- Blina is actively evaluating the acquisition of advanced cobalt, lithium and zinc projects across a broad range of geographies. All projects are subjected to a rigorous technical, commercial and legal due diligence. …. A shell currently in the Wolfstargroup.com.au stable. Not a bad bunch of deal makers but they are never in a hurry.
BGH- The company is now well placed to consider a range of possibilities with respect to the realisation of value for shareholders from the Bundarra project…….Looks good this one, I haven’t followed but some on the thread have so please tell us more.
BGR- In suspension. Currently in the process of a recap by Panorama Technology Services. A company run by a Metcash head office employee and Angel.co investor. It will be interesting to see what happens here.
BLZ- The Company is assessing project(s) for acquisition in the interests of creating shareholder
value. All discussions remain incomplete, non-binding and confidential. The Company will
update the market accordingly to any progress…….A Cicero shell, they have a lot of medium term successes but a lot of longer term failures. Those in the know get mega wealthy in the process so a good crew to follow. The tech guy recently quit the board, a sign this will stay resources perhaps? The new listing rules are upsetting a lot of these transactions I hear.
BMG- The Company is now well positioned to secure new investment opportunities and is currently reviewing a number of potential investment opportunities in the resources and non-resources sectors, and anticipates progress during the second half of FY17 (i.e. prior to 30 June 2017). The key priority is to secure an advanced investment opportunity with strong potential to generate near term cash-flow and to create value for shareholders…… There are a lot of smart people on this, both at board level and shareholder level. It will take a bit longer imo but will not disappoint.
BNR- Bulletin has reviewed a number of opportunities in the resources sector and will continue to do so until identifying an appropriate opportunity that it believes is in its and shareholders best interests. It is the Company’s stated intention to identify an opportunity that, in time, will allow it to again reward shareholders…… One from the @minoil flock. Looks a very good shell play to me.
BRO- The Board will now focus on the growth of the Company’s telco business and will also actively resume its search for acquisition opportunities and to have ASX reinstate the quotation of the Company’s securities……In suspension and back to shell status after realising the MyMac acquisition was DAF, Dumb As Fu…..!
BSN- The consolidated entity continues to seek other opportunities for the future with the objective of expanding its principal business activities to enhance shareholder value. Bisan may continue to increase its equity position in its investments……Two words for the negative, Pat Volpe, two words for the positive, Melbourne Jews (is that PC?) This one has had some dubious attempts at acquisitions, had a board room fight and now has a good structure. It did have similar names to TND, QUR, CHK but Avi and David have departed the board and potentially the register. Watchlist it but keep the fingers near an ice pack. Maybe let it sort the debt out first.
BSP- Black Star currently holds leases under the Nebraska Oil Project covering approximately 5,250 acres through its subsidiary, Constellation Resources LLC. The Board continues to review the Nebraska Oil Project as well as consider various recapitalisation strategies. As at the date of this report no outcomes have been finalised…..it was one of my favourite shells for a long time but now I’ve given up on it. Let’s see who is involved in the recap and look at it again then.
BTN- Currently suspended and in the process of recapitalisation…… No info yet on who is doing it but to see what happens to recap stocks check EQU, QNL, HWK.
BXN- In trading halt for acquisition and CR.
CAE-In accordance with its strategy, the Company continues to investigate and evaluate new
opportunities both within and external to the mining and exploration sector. The company is
currently evaluating its options with respect to projects that it may become involved with during
the 2017 calendar year.
CAV- The Company continues to assess various opportunities in the resource sector. A number of resource projects were reviewed during the period, with selected reviews continuing.
CBQ- The Group has focused on identifying and evaluating opportunities in the resources sector at a time where the resources sector generally is under some pressure globally……Some convertible note debt to take into consideration when valuing this one.
CBS- The Board will continue to evaluate alternative investment opportunities and look to advise the market in due course…….Currently suspended as an acquisition attempt fell through
CCJ- County has focused on assessing a number of new potential additional projects for the Company, as well in maximising the value of its existing assets. County is preparing a surplus parcel of freehold land in Wyoming for sale, and progress on this during the half-year has been positive.
CDB – Condor will continue to consider any proposals that it might receive. However, due to
current resource constraints and other strategic priorities, Condor does not currently plan to
allocate substantial resources to this task……. Currently suspended. So much baggage and boardroom dodginess here that there remains doubt imo that this will ever be re-birthed successfully.
CDT- Castle's activities during the half year were consistent with its defined objectives. Gold exploration focussed on Castle’s Wa licences and in particular its Kpali licence. A number of new opportunities were generated and evaluated but as yet none are at an advanced stage of acquisition…….Good things coming to this one imo. Patience to be rewarded.
CIZ-The Company continues to appraise new acquisition opportunities in order to generate shareholder value and satisfy ASX Listing Rule requirements to remove its suspension from official quotation. The Company has decided to focus on the mining sector in this regard as it deems such opportunities more consistent with the objective of shareholder value generation at this time…….Another from the Cicero stable
CMY- Pot, then Lithium, add in some Cobalt , a detour back to Pot and destined to make an acquisition Ann at the top of the next bubble sector.
CTR- Currently suspended and in the process of recapitalisation
DAF- Recently announced a gold project acquisition, imo this was not exciting enough to explain the heavy buying before the ann. I think something more is to come.
DAU- In addition to the proposed joint development of the K2 Mine with Vango, Dampier continues to evaluate other gold and mineral projects, as well as other diversified investment opportunities in areas such as agriculture, food and infrastructure.
DMG – The Board are in the process of reviewing its strategy in order to find the right project that will benefit the Group going forward. The assessment and due diligence of projects needs to be done with these factors taken into consideration. The Board feels that it may be possible to take advantage of the current cash position to obtain a financially economic project…….another shell of the Wolfstar group, Jay Stephenson is the name to be googling.
DMI- The Company is currently reviewing and evaluating several mineral projects as well as continuing to conduct its due diligence on the Turkish oil project. The Company has relinquished non-core projects and reduced administrative expenditure…….Tight shell, recent price action may suggest the tribe have been sending smoke signals out.
DTR- Directors continue to investigate opportunities to participate in joint ventures and acquire projects in Australia and overseas
Ok, a comedic interlude….but an important one. High valuations mean little in the beginning but eventually the market will catch up with you if you tell porkies or miss projections. Think 1PG. and I’ve got my eye on you IAM!
(20min delay)