Cheers men! I never really went away though :)

SOU continues to defy gravity. It is never too expensive to buy....

Nose bleed time:-)

Had cold feet, closed a T20 deal, a bit of cash, free shares so can't complain. SP now free to shoot to £10! 😀

Thanks KimO it can only go one way now:-)

😀

Not for widows and orphans. DYOR.

I have been watching Petromaroc for some time and over the last couple of trading sessions been buying their stock, spread is a killer though. Last trade I did was 350,000 at CAN$0.0299. I have used TD Direct as you can buy international stocks in an ISA!

Why!

As Sound are committed by a binding agreement to ‘give them’ 21,258,008 shares with a current value of CAN$ 29,605,466 (£17,006,000) there seemed a disconnect between Petromarocs market cap of CAN$2,630,598 (£1,511,000) and possible value.

It’s a bit of a basket case with debt, interest and debentures (due end of Sept) CAN$ 14,000,000

But post completion of the Sound deal it will have:

CAN$ 29,605,466 (£17,006,000) of Sound shares

CAN$ 1,800,000 of Sidi Moktar guarantees returned

A 10% net profit interest in any future cash flows from the Kechoula structure within the Sidi Moktar Licences; and a 5% net profit interest in any future cash flows from structures within the Sidi Moktar Licences other than the Kechoula structure.

A 22.5% working ineterst in Zag (14,632 sq kms) other parties are San Leon 52.5% and ONHYM. Directly east of the Zag basin is the Algerian Reggane basin, where Repsol announced a 800 billion cubic foot discovery.

It will need to sell some Sound shares to put it back on a strong financial footing but as Sound’s share value keeps increasing then they will need to sell less and less and in fact they end up being an investor in Sound.

What about OAPs?
Eeking out a humble existence on benefits and Sainsburys basic range.

Being lured into dodgy shares by fat cat city types with no conscience for the little punter.

Lol!😀

Martini; You are right, widows, orphans and old codgers. So how many did you buy:-) PMA is now up 40% today!

I should just point out that on deals with fixed amounts of shares, as is the case here, it is very common for a lock in mechanism to be part of the deal, this avoids the recipient flooding the market with stock. So, ahem, hypothetically of course, there might be restrictions on when Petromaroc could actually sell, so it might be they cant actually sell 25% till Jan 2017. However it is possible to use the shares as collateral until then and beyond depending on the other lock in dates. Nothing mentioned in the releases but I would be pretty sure there will be something.

Small spread bet today bt SOU @ 84.7. As I am not a taxi driver or vicar I have assured myself that my trade does not signal the top of the market....

Taken some more profit this morning. Will probably regret not being bolder and holding all but that's the next Holiday paid for and still some to take advantage of another leg up.

Martini; Wimp. i have bought some CLNR yesterday and today another ramped up stock :-)

Indeed wimp. You pop out for a few hours and off it goes again

What was it £1 by Xmas at the rate this is going it will be £1 by tonight!

James's just predicted on TipTV for £10+ per Sound share, Petromaroc looks even better now then yesterday, Petromaroc could be sitting on Sound shares worth CAN$370,000,000, current market cap after yesterdays 40% rise is CAN$3,156,718. I feel a top up coming.

Closed my SB for a measly 5 point gain (when compared to 1000 being predicted) but not bad for a 3 hour trade :)

Bones : a profits a profit!

Petromaroc up 116% today. A lot of Sound punters getting in.

Thanks for heads up Bully on PMA. Snaffled £3k's worth early yesterday CAN time and only got confirmation this morning that the order was filled. Already showing at a smidgen under £5k in value! Still waiting for the contract note to know what price in C$ I achieved. Used my AJ Bell ISA.