Georgina Energy (#GEX) – “Mt Winter EPA 155 Setting/Seismic”, ramptastic!
- 2026-10-09 06:56:46
UK 03:47 Saturday, 17 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
So much for it raising growth capital!
I predicted at the weekend HERE that Georgina Energy (GEX) would dump into the pump. Call me Mystic ffing Meg for at 10.30 AM today it announced a £1 million placing at 5p. Now thus stinks at every level. First up, as the spreadsheet below demonstrates, it is still technically insolvent to the tune of more than a million quid even after the raise!
The audited results for the year ended 31 January 2026 came out yesterday and show that Georgina Energy (GEX) made a pre-tax loss of £2,750,196. Net liabilities increased from £1,509,250 to £3,039,061 after Georgina share capital increases of £1,225,048. It was technically insolvent and despite post period end fund raises it still is as it continues to bleed cash.
Georgina Energy (GEX) is technically insolvent even after its most recent placing three weeks ago in which it raised a Bernie ( before costs) at 2.7p. That is to say it has net current liabilities and is burning cash.
As Georgina Energy (GEX) prepares for a capital reconstruction to see par reduced to 1p and then an up to £10 million ATM death spiral, its shares are going to be crushed as I explained yesterday HERE
The announcement came after hours yesterday, almost at nobody is watching O’Clock. I wonder why. For it is bad news at every level. As oft warned here, shareholders better lube up for they are going to be utterly shafted.
I refer to Georgina Energy (GEX) which I remind you MUST raise £9 million to fund its ongoing losses and RTO plans and which is now, at 5.25p mid capitalized at only just over £7 million. Critically par value is 5p so its ability to do a deeply discounted placing is massively compromised. The only folks who would fund this box of frogs run by proven liars and expense fiddling charlatans will demand a deep discount.
CSS Stellar, part of the Charles Street Securities group, is run by a fellow called Gerald Mizrahi who, to his credit, attended the same Cambridge college where my middle daughter and eldest son are currently studying. Okay, it is not quite Oxford but I suppose it’s a notch up on Durham. CSS provides finance to struggling small caps and does so on rates that reflect the risk.
Georgina Energy (GEX) shares are 130% ahead at 6p on what appears to be great news. But the company is technically insolvent and oily Gerry Keen of Touchstone infamy and his team at Oak Securities must now be working on a placing to keep the lights on.
