What makes me so angry is why 88 came out in Dec saying they want to present a consolidation to SH's during this AGM.... This had a massive impact our SP run during these critical flow tests, considering 88 communicated and collapsed SP again back in 2023 imo...
This was SH's chance since 2022, as we actually invest, 88 don't imo, to finally see SP growth and reward holders and exit, but NO, SP destroyed again with these unbelievable Consolidation talks, which have absolutely no chance of happening at our AGM imo, so why do it, what was the point????
Every Broker/Director I have spoken to; all shook their heads by what 88 said prior to flow testing and I expect full accountability from this serious mistake, there have to be consequences and SH's deserved much better from 88 than this B$ IMO.... I expect some resignations!!!!!
Now 88 gone quiet re consol, my guess 88 will not do this until much later in the year, as SP failed to grow....88 also know as we all do imo, that we have absolutely no chance of supporting a 40c post consolidated SP and will fall until 88 get serious and do more than one drill a year imo...
By the way MC is a result of SP and doesn't change whether 88 consolidate and SP doesn't fall.... After a post consolidation the SP will fall, FACT imo, say from 40c back to sub 5-10c imo and this reduces the MC and if SP falls even further back to our normal sub 1c where we have been since new team took over 3 yrs ago imo, then we could be right back where we started, as nothing going to happen till 2026 and I expect failures in Africa before they hit oil... Each failure etc causes SP to crash, FACT imo...
The big difference it's easier to go to Hartley's etc to raise money and if anyone ever wanted to buy in or TO etc, with less shares on issue..
88 have much bigger problems than consolidation IMO and that's their funding, as always broke after every drill and another year of doing nothing, plus given their high remuneration and admin costs, despite 88 saying they have $17.5 Mil, it's spent and has to be paid asap.....
These very expensive Alaskan drills, no matter what they do and not until 2026 and if no farmout happens (we have been wanting FO's for past 4 years and still no one appears) and Burgundy walk and given this new boards terrible SP performance since the Merlin drill and failed constantly to add any SP growth for SH's and even after finally flowing oil filling a couple of barrels lol, sends a much bigger concern going forward for SH's and the market imo...
Consolidation will impact MC as the SP will fall, FACT... Nothing more to be said than this imo...
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