The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Sorry, forgot to say - this is published today (20th Oct)
The ASX have just published a letter sent to SO4 on 2 Aug. They had serious questions back then, and now see the need to publish them.
https://hotcopper.com.au/threads/ann-asx-query-letter.6363152/?post_id=56948021
click on the 'download document ' link, a PDF of the letter comes in a popup.
160m
How much debt did the company have?
And that’s what share trading is..... a gamble ...... a game. I wasn’t invested here but I feel for those that were. How much money is lost waiting for a gain? A one bagger is the same as even money... double your money. Far easier to bet on a horse or a football match. Liverpool last two games have been 1/2.... 50% increase on your money.... a certainty!! There are so many games being played with shares.... why bother? Empty your pockets and shorten your life..... that trading/investing for you!!
Yes Thompi, I hoped for a positive outcome and the management have thrown the towel in. A very sad outcome for all those involved in the project including the management team and all those invested.
Bad luck Edward and to all those like myself who hung on. A sad outcome.
RNS just posted.
I regret to say that seems to be the end and this is a sad day for all those invested.
When one does not have what one wants,
one must want what one has.
So we all just have to move on and pick up the pieces.
Interesting how the ASX has RNS but AIM awaits this information.
And the Bears have it the Bears have it.
Get ready for a good dose of I told you so's... :(
Well done Edward you kept the morale up here for 24 hours. How do you intend on doing that today? Perhaps a few witty tales?
It’s fact
Announcement on ASX - gone into administration
What is your source for such a bland negative statement?
Admin
1eyedman. Totally agree with your observation about the multi bagging comments which may have strongly misled some investors and probably distorted the trading in recent days. The funding race does indeed look a difficult task to resolve but we must hope that the management do everything possible to make it happen. Until we know otherwise, I will not give up hope.
Good Luck and take care whatever the outcome.
THANKS for your honesty. Not too happy about the visual image of the creek though I hope it doesn't have any Australian crocodiles in the creek.
Soon, maybe tomorrow we will have a crystal clear RNS that states where SO4 has or has not reached in its journey to obtaining funding.
Edward75. I hope we get the positive outcome you describe and you make valid points about how close the company has got to production. I fear the race against funding is looking lost but obviously there are a range of possible outcomes. GL also.
I’m much more comfortable with reasoned positivity than the ludicrous multi bagger tosh that was around prior to suspension.
Sorry, to be really honest, as much as I want a good resolution, I still think we are up s**t creek without a paddle.
Thanks Edward for focusing on the positives. My interests are aligned with yours and hopefully, eventually a good outcome.
I get all the points made by Thompi, lootgaloot and 1eyedman they are all helpful in picturing where investors are. But I try to focus on thinking about a positive outcome to securing funding because I think the management have taken the project close to production and marketing the product. It will be a very poor show if they fail at this stage in the project when they are so close to success. I hope the big investors continue to support the project through this difficult patch and do not give up at the final hurdle. All the investment in infrastructure is only really valuable if it can be used for the purpose it was bought for.
Good luck to all those invested in SO4 and hope we have a good outcome.
Sadly Leyedman & Lootgaloot I agree. I really hope I am wrong and something is salvageable, even if it’s in the long term.
AIM suspension should have happened at the same time as ASX. Management have severely weakened their leverage to negotiate funding by allowing share price to drop to basement level. Like playing poker with your hand laid out on the table for all to see.
I cant see the latest RNS as anything else other than an indication that the company is a further step closer to administration. Even the wording seems pretty pessimistic. At least the suspension on AIM will save anyone getting sucked into the fantasy world that this is a short term multi-bagger.
I'm actually wondering if the lenders that appear to 'own' the infrastructure should the worst happen, might still get a little singed. This kit would only be useful to anyone who wants to attempt to produce SOP from the lakes. It would be interesting to see where this ended up if SO4 falls over. One possibility is another operator over paying the current lender for the plant etc. on the basis that they (Tauris) will helpfully lend the new owner some cash. Purely on the basis of course that any new operator is in a position to soak their shareholders for a placing to help the funding. Bit cynical maybe?.
Totally agree with you Latino. Keep those positive waves coming. The share price of SO4 frozen on the AIM is good news and should have happened many moons ago not after numerous suspensions of SO4 on ASX. If the sun breaks through the clouds and shines on SO4 then maybe both markets for SO4 can open simultaneously in a positive wave of optimism!