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 and have access to Premium Chat. 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.
Interesting time should JP be kind enough to give us that RNS on schedule, some of it we may not like, some of it we may really not like, some of it may be fantastic, but it way it will show we have a plan, and give us as share holders something to base our future actions on. Get in there, a balanced post from me!!
Dan, Sorry to hear about your average of 2.2p; but you have to account for this company's assets fulfilling their potential over the long term - as you have already intimated, in your previous post. And still this company - unlike the majority of its AIM peers - has a relative allergy to the fundraising pollen that pervade AIM's air.
Many of this company's PIs feel not only deflated after the unexpectedly bad news on the main Cobre client, but also disappointed in some of the inconsistent messages from the BoD (for example, Alan Broome visited Cobre, last autumn, to potentially attract new clients; no news since); so, as the BoD have generally managed the progress of this company, slowly and positively over a lengthy period, with expansion self-funded as much as financially practicable, they have set themselves higher standards than those of the majority of their AIM peers, meaning that any miscalculations on their part are judged - rightly so - harshly.
The fundamentals of this company remain intact; it's a matter of extracting from the strategic review the best possible short-term profitable outcome that can continue progressing our mid- to long-term assets without overly diluting our ownership and profit from them.
surely the main priority is LCCM
this has the best chance of generating a decent cashflow, more than enough to cover all general expenses within SML.
surely put Redmoor on hold, keep Cobre operating as is, its a difficult one to say what to do with Cobre but while we need the cash from large customer to resolve all short term money issues, the expenses aren't overly onerous on the company to keep the operation ticking along
my 2.2p average looks a long way away now
Whatever information the strategic review may contain, it it's interpreted positively by the market - particularly by allaying the current (perhaps overdone) fears on financing, for example, LC - then this could easily double from its presently ludicrous undervaluation.
Slurm, Your posts are a paradigm of reasonableness.
I dont think everyone gets the idea of the review, it's not for the shareholders, it's a plan for SML and how they prioritise their now reduced funds to get the best outcome for the total company across the differing projects.
It's unlikely to reference the payment in any way.
What level of detail would be released in any RNS is unknown.
blacksheep, yes he is out at the moment, he will buy back in if the review is taken negatively and the price tumbles, but has stated if the review is taken positively and the SP rises, then he will probably not buy back.
That twisted logic shows what Toze is up to at the moment....
so just to be clear then Toze, are you out??
On your first paragraph, see my third paragraph - I explained.
Your second paragraph, I totally disagree. If they were to drop news that the US$4m was definitely not going to happen, you watch the SP go south instantly.
You say the worst case would be a placing, I agree, but you take a very light view on that, when I do not, because when a placing takes place, again the SP will go south.
How you can say, why you should be worried about, beats me, because if I had a substantial investment (as you probably have) given current situation - investment is at a High Risk.
Let’s discuss this AFTER the review. Enough has been said.
Atrocious, shocking or dreadful? descriptive words but no reference to what they belong to.
The "strategic review" will not focus on the $4mil, it cant (well unless its been paid). It is about the way forward as is. The lack of payment is already well factored in to the SP.
As i explained the worst case would be a placing (not shocking, atrocious or dreadful, i would say undesirable) which happens very often on AIM.
Im lost what should i be worried about?
I can genuinely wish someone ATB because I don’t know if I am right or wrong. My positive view has changed dramatically since the SP dropped and dropped and dropped from 1.80.
IMV the US$4m was the key. When that did not materialise over time, I lost complete faith.
Atrocious can also mean Shocking and Dreadful, that is what I expect the strategic review to throw up. The RNS will likely produce more questions than answers. The US$4m might end up being US$2m if we lucky, maybe less overtime with drop payments which will be meaningless considering they are defaulting and forfeiting payments. Some have said we will never see it.
Litigation, serving them papers and taking them to court, will be catastrophic, yes SML is right and we most likely win the case, but it will be very costly, very lengthy process. Money will be needed, money we don’t have and if we had money we should invest it on our projects.
Money will have to be raised somehow.
SML will not wish to deliver a bad strategic review, but it depends how the market takes it.
They need to be up front with the market and give it straight. It’s a gamble both ways.
The US$4m was a game changer which easily put us back 2 years. I am very bitter about this, in case someone hasn’t noticed.
See you guys AFTER the review.
Propinquity, maybe we should stick with a couple of JP's eloquent phrases of positivety, and with regard to naming names and setting this board on fire, let each question themselves and where they may sit on such list
And, Fira, Why don’y you list those with a ‘blinded positive nature’ - our posters are anything but that.
Tooze, Fira, This board’s posters convey a broad rationality of their thoughts on the running and status of this company’s matters, from questioning the problems with the main Cobre client to the timing of the purchase of Redmoor - no, not one of our beloved posters - but yours carry mixed messages, tinged with inconsistent elements. By all means, criticise SML by pointing out the negative aspects, but in a sensible way, eliminating the BoJo-inspired rhetoric.
Apologies for spelling due to Chinese spy phone
MB, do hope you are right about the macro environment, I took a good pasting last week, needs to improve dramatically by the end of the month for me to "earn" a wage, first time it's looking dodgy in 9 months
Interesting post Toze, those of a blinded positive nature won't like that. I agree if all was well we would not be having s strategic review.
LC being late may be your titanic moment, but as this then brings the NAE charge into play.
The markets really won't like us not being able to deliver, but we have not covered ourselves in glory of late, hence the sp dwownding in the worlpool of doom
0.6p - doubt it; with the China / Trump trade war easing with things being postpones until December the macro will be good.
How can you wish someone "ATB" and then trash it?
What exactly will be "atrocious" ?
Why would any company release and "atrocious" review?
I wish you ATB buying at 1p.
The US$4m was what would propel SML into the 5.5 party. Money available for all 4 projects.
I compare the lack of US$4m to the Titanic. The strategic review will be atrocious and unspeakably distressing for holders. There would not be a strategic review if US$4m was paid timely as contracted. Something went frightfully wrong and continue to be blind” and oblivious, Hopefully, until the strategic review where probably there will be more questions than answers.
I will buy at 0.60
Time to show a bit of support - see what the strategic review brings .