The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Clear that Hanno needs the SP lower to get the next placing away
To be honest I don't understand why they even mentioned finance in the rns and interview. It has only reminded people they need cash when Hanno could have just gotten on with delivering good news to boost the share price (and ultimately the raise price).
Hanno should speak to the Weatherheads, Fletcher, or better still Haworth. Even better, get a loan and don't dilute shareholders any more. Just get on with lifting those bloody anchors already.
Oh dear me, looks like Hanno has dropped the ball again, more deadlines missed and now the SP is tanking.....well done Hanno!
Not sure I used the word 'commitment' enough in my last post :)
Good to see Hanno is thinking of shareholders by jumping on Proactive. Given circumstances I don't think he could have done a better job. Some good news. And some potential bad news. Project is progressing and highly unlikely to fall over. This is the most important good news. Historical cost etc are unimportant given current circumstances and it appears the market agrees. Main issues I see are threefold:
1. No confirmation one way or another of GE involvement. I won't go into detail as to why this is important, but suffice to say that if GE is confirmed as technology partner it's far better for us on every level. Hanno needs to tell us wtf is happening here.
2. Tariff approval will be next year according to the interview. They've stated in the RNS 'within 3 months of submission of the Market Outlook Study'. This means before the end of January. Hanno should have made this crystal clear in his interview given the importance of tariff approval i.e. no later than January, rather than saying 'next year'. To be honest I'd rather he lied and said this year and missed the deadline like every other to date. It would at least support the share price.
3. Finance. Hanno needs to deal with this elephant sooner rather than later. They need to raise enough to take us to end H1 2021, without too much further dilution. Best arrangement would be an extension of the shareholder loan.
The above are three decent sized anchors on our sp, and I don't see us moving much form the 3-4p range until they're lifted. One thing Hanno can control is finances. He needs to deal with this elephant because if GE pull out, then he'll be trying to raise at 2p next time round. It's not rocket science but Hanno has f@cked up in the past by not recognising what investors think e.g. his foray into solar with his brother. That money would have been enough to carry us through to next year, and his brother's company would still be doing f'all right now. Get us another $750k and a loan extension and start moving forward.
Winter is coming and it ain't going to be pretty if he's still mincing his words come December.
I also think Hanno needs to jump on Proactive and provide a positive spin on everything that has happened recently. Bottom line for me is the sp will be at risk until GE are confirmed as technology partners. After this it's just a matter of time as I don't see the project falling over, however it could be delayed by many months if GE throws a spanner in the works. What a bunch of incompetent, unreliable pr!cks btw. At the very least they should have clearly stated that all agreements / commitments in place are still going to be honoured. It would have made things a lot easier if they made this commitment alongside their bombshell. There would be little to zero negative judgement if they said they'd stand by their existing commitments.
Agreed extrader. All that matters is an agreed independent audit firm was engaged. I'm hoping this means costs are quickly and easily approved. But then again this is nccl where quick and easy aren't really in our vocabulary. Knowing our luck the audit firm will end up being sued for corruption in the weeks leading up to approval.
Hi all,
Rather than get into a public disagreement, where 'face' complicates matters, emphasize to all and sundry that the numbers are from an 'independent international audit firm' and leave it at that.
Apart from anything else that gives 'cover' to CMEC if the end number is ever queried back at base.
ATB
Agreed - why would you release numbers to the market that are not final and could be subject to change.....
because if you read the RNS then you'll notice thag5its been submitted to CMEC for final review, they are hardly going to announce the figures until formally agreed
The RNS clearly states "Once the Report is approved by both parties", so why would you expect to see costs in RNS that have not yet been approved and reviewed by CMEC?
So why are there no figures in the historical costs RNS, more smoke and mirrors from Hanno!