The ASX Casino- Home of the Shell Hunters, page-2

EFE- Several projects have been evaluated both within and external to Australia. However buoyant market conditions, particularly for precious metal projects, have created a highly competitive environment to secure quality projects. Nevertheless, with the continued support of its major shareholders, the company remains confident of acquiring a quality project.
EMG- blah blah blah, as the Board continues to also evaluate acquisition
opportunities…… This was a really good shell until Faldi Ismail of Otsana left, however going on Otsana’s recent performance this shell may have remained rubbish for holders anyways.
ENB- Can’t say too much here or my excitement will have a page of text! It’s as simple as this, Barnaby from ISX, GSC, IHS, Cygnet crew on the register, as is Jason Peterson
ENX- Our initial initiatives are to investigate and to undertake investment in the following areas: Strategic energy storage minerals such as lithium, cobalt and graphite :Energy storage technologies: Alternative and renewable energy sources.Our involvement in energy storage and services may take a variety of forms including direct participation, joint venture and equity investment.
EQX- In addition to maximising the value of existing assets, the Company continues to identify and evaluate resource projects which have the potential to build shareholder value. During the half year, Equatorial assessed a number of new business opportunities and will make announcements to the market as appropriate should an acquisition occur………Lots of cash and Ian Middlemas as Chairman. It has a very high EV but whatever it does is sure to be good.
ERX- The Company will take advantage of the current market downturn in the mining section across
the globe and look to acquire related project with good potential…….I’ll be leaving this one alone while the top holder has 75% holding.
ETE- the Company moves to rationalise its existing oil shale exploration assets and continues its ongoing review of potential new projects.
EXR- The Board continues to actively review new venture opportunities and will continue to actively pursue transactions that have the potential to add value to shareholders.
FRN- Cicero and/or Patto’s shell. The current projects are OK and they have expressed their intention to acquire or invest in other opportunities. Volumes could suggest people are getting themselves set here. I know @Anton Chigurh is big fan and he knows his shells.
GBP- Consistent with its previously announced strategy, over the course of the reporting period the Company has continued to engage with counterparties holding appropriate assets. Global remains in a strong cash position in comparison to many of its peers, and the Company remains confident of making a key investment in due course.
GED- Recent share price action suggests something is in motion. It’s from the same office of SBR, the CVT and K2F shells, and BLZ before it went to Cicero.
GGE- The Company is continuing to assess acquisition opportunities in the US and is actively marketing the Napoleonville seismic to third parties….. Oil producing company always looking to acquire bolt-ons, not a shell but no sating what they may drop in
GLA- the Board is continuing to conduct preliminary due diligence enquiries in respect
of a number of assets and projects identified by the Board for further evaluation, however, the Company is yet to progress to formal due diligence or third party review of any such identified assets to date.
GRV- The Company did find a project that meet its investment criteria. However, the possible transaction was going to require Company to be subject to the re-listing rules, which the Board felt was not in the best interests of its shareholders and for this reason did not proceed with the transaction. The Board continues to review for new opportunities….. Those bloody re-listing rules
HAR- The Board continues to actively pursue other opportunities to restore shareholder value as well as looking at other funding options for the Company’s projects.
HOG- Following completion of the sale of its Ukraine assets in November 2016, and repayment of its external debt, Hawkley has been looking to pursue Oil & Gas acquisition and development opportunities in more politically stable countries….. New director David Lloyd, principal of Emco, Emco regularly reviews investment opportunities in the Oil & Gas industry, particularly in North America.
HWK- A long suspended company re-birthed and on the acquisition prowl.
IDC- Currently in suspension and getting a re-cap.
IHS- Cygnet shell, tight as F…. enough said.
IND- Indus has commenced review of several other attractive acquisition opportunities and is committed to securing a project that will see the Company recommence trading and provide value to shareholders in 2017.
ISH- The Board continues to review potential new project acquisition opportunities to enhance shareholder value….. A ‘follow the smart money’ type of shell.
JKA- While the Company continues to rationalise its investments and husband its remaining cash
resources, the Board continues to review investment opportunities that will reinvigorate the
activity profile of the Company and attract funding support and appreciation in shareholder value…… James Robinson of Cicero a Director, which is good but still it does little.
KBL- Currently in suspension and getting a re-cap.
KBU- An RTO that appears to have failed. Kabuni now plans to sell itself to… itself! The founder wants to go private then re-appear selling the dream to another batch of unwise investors imo. ‘IF’ the sale goes through KBU would be a shell with some big players under water on their holdings so worth watching. They might lowball placement it first so be careful imo.
KIK- Terminated the acquisition of a coal asset so back to the roulette wheel of ASX shells.
KTE- K2 Energy had 3 major activities during the half-year ended 31st December 2016, being its oil and gas activities in the USA, its solar energy activities and its interest in Atomera, Inc. ….under cash backing if you include its Atomera stake. Some smart shell followers on this one. Fib’s next PSY at one stage so every chance he remains involved. @minoil a big fan too. Our resident Boneyard Specialist with a high success rate on shells.
LCG- Currently in suspension and getting a re-cap.
LGM- During 2016 the directors completed preliminary due diligence on a business opportunity outside the mining industry which the Board believes will be a good value proposition for the Company’s shareholders. The investment target completed most of the required milestones and the terms of the transaction have been agreed in-principle……. Always a worry when a Bermuda/Caymans/Virgin islands based company is on the ASX. Trade the trade folks and watch the pinkies.
LSA- Currently in suspension and getting a re-cap.
LSN- The Company remains in a strong position to attract new projects having a tight shareholding, low expenditure obligations and with a solid cash position…..YAWNNNN. These guys need to get some jiggy going. Another great shell struggling with re-listing rules I’d guess.
MCX- Mariner is continuing to look for opportunities to raise capital and other investments to grow the company.
MDD- During the quarter ended 31 December, 2016, the Company continued to focus on acquisition opportunities in mining and exploration and has considered a number of potential transactions but none have yet reached any point of certainty or any agreements been executed as yet…..A bit of looking and some dots could be connected to make this an exciting shell, but you’ll have to wait for a placement first and then for it to come out of suspension. This is bound to end up with the ‘Blue Sky’ brigade one day but please remember to take your grain of salt when close to this, it will be an insiders play imo.
MEI- During the quarter the company reviewed several opportunities to add shareholder value. As at 31 December 2016, no suitable transactions had been completed. The company continues to seek opportunities in the resource sector…. Decent opportunity with this one imo. You’ll probably not hear Blue Sky, Disruptive or Moon about it but slow and steady play.
MMR- In the process of a takeover from a major holder. Give it a couple of months and see what has transpired by then. Sounds messy.
MNE- The Company is continuing its program to seek and review complementary resource projects to add to its portfolio.
MPO- Got loads of cash, some legal issues and a very lazy board. Major holders are trying to spill the board to get things moving. Another to revisit in a couple months.
MRR- MinRex is in a strong position to consider corporate opportunities as a result of the Company’s cash holdings which give it flexibility to take advantage of assets that are becoming available, due to the current lack of funding for corporate start-ups.
MSI- The Directors are in the progress of discussion with a developer of energy efficient technologies for a possible merger. The Company is waiting for further information and proposal. Appropriate announcement will be made when the Board has a decision…….very tight Asian controlled register.
MYQ- is it a shell or is it eventually going to push it’s product? Merchant have left the building, Pete has bought some more. It has a good structure to be re-made, it is just a matter of finding a good risk/reward entry price. For me it is low 3’s only.
NIO- On 29 July 2016, Nickelore announced that it had entered into a binding Share Sale Agreement to acquire 100% of the issued capital of Helio, a leading-edge, full-service, end-to-end provider of distributed generation solar energy systems for commercial and industrial energy customers in Brazil……taking a long time, if it falls through would be a good Wolfstar group shell again.
NME- The Company continues to have projects presented to it for evaluation during the period extending from Gold, base metals, copper and diamonds. The Company takes the view that in the current commodities market that projects need to show exceptional value for the Company to proceed to any type of acquisition arrangement.
NMG- Undertaking a review of their assets. Sounds like the mention of acquisition opportunities will arise soon.
NSE- New Standard has also continued to review other opportunities for the Company to recover and grow both in the oil and gas space and in other areas.
NYO- terminated an acquisition. Still suspended.

Christ, so many shells! Tell’s us something important…..despite what they say, or the flashy presentations they send out, a lot of companies fail. Buyer beware, no matter how hard they try sometimes the shell just won't suit the dog while others are just beautiful