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So, it was an early tails then.
They could, at least, update us on the plant operation and if it is still going ahead? Now two months suspension, that is a disaster. Have any/some/all the technical guys needed to make this work still there? Have they been paid? Have they jumped ship (I would)?
So much not said.....
More like Thursday bad news. Request for further suspension on the ASX until 27 Sep and "sfa" about any of the other questions such as the CEO, production of SoP or future financing.
Maybe somewhere in between. New highly overpaid CEO, high dilution but a few crumbs left for current holders.
I’m still just as bothered that there is no communication of pass spec material being produced or a structured plan to achieve this if they are struggling with the process
So what's it to be?
Friday bad news RNS (still no new CEO, further extension to funding deadline / funding done at excessive price/dilution)?
or
Monday good news RNS (New, well respected and experienced CEO? Emergency funding sorted with no dilution and at reasonable/cheap cost?).
So.... Do you feel lucky?
Rumour of funding started I think on the Australian #SO4 chat board...
https://hotcopper.com.au/asx/so4/discussion/
not sure I'd base investment decisions on @ wizzardbattery... (open to understanding their sources though...)
Can buy a lot now buy can’t sell so much. Obviously moves very fast either way
Funding update apparently
https://twitter.com/wizardbattery/status/1433714587535298560?s=24
took a £5k punt on this when it was 5p a couple of weeks back, personally i thinks it worth the risk as the upside is very good from here if everything manages to fall into place in our favour
Absolutely it should. On funding news we dropped initially to 8p, which was over a 50% drop in a day - massive considering the news.
We’ve then continued to drop even further to sub 5p, which is totally insane - knocked off c£100m of the mkt cap.
I think to have dropped below 6p was massively in the oversold territory. To have dropped below 5p shows the mentality of investors. I believe funding will come in somewhere around 8p, probably between 7p-8p. Which, I stress, is an absolute bargain considering the cash, assets & opportunity here with SO4.
Yes Riddler, someone paid well over the ask near close, you couldn’t buy more than £2.5k all day. If we get the slightest amount of volume this will pop it’s doors off, I believe, based on the stock on offer. I could sell all mine, all day (£20k)
Time for a turn around.. this should be at 8-10p pending news not sub 5p. All the hard funding and putting the plant together has been completed one final push to get this into production and the markets reacted as if the business isn’t fit for purpose?
The fear of missing out should see the price gradually rise over the next week or so IMO.
The story does not stack up.
Its a well run company and ready to exports millions and millions of potash at the best grade in the market
Right. Ladies & gentlemen. That’s me. £20k. Will sell half at 6p hopefully & before funding news. Sell the rest at 10p but keep a few in case we see 20p+ on production update. Good night & good luck
I don't think this is a cert by any means. Most of the investment is already in though. They need the last tranche to bring to this to fruition.
But the share price has tanked so much now and the upside from 20p was already massive that the risk reward is massively with the bulls.
This is a value stock, recovery play and a growth stock all in one. Very nice!
I have more funds ready to throw at this on any further slippage or news.
Agree Dave, that's what makes it a binary gamble.. I think the long term business plan still looks good but any new II's are going to be going through everything with a fine tooth comb after the constant **** ups this year... if they get it over the line happy days, if not it could go to zero..
*if the good news falls
I think you’ll be rewarded this is massively oversold
I just jumped back in, bit of a binary gamble but couldn't resist... Now go get that funding SO4!!
Just need some news. Any news. Then this will moon! So much value here.
is the bottom....near?
When the good news falls this will shoot.
Hopefully back to 16p for 4 times return
Yes I bought in today. 4.24p. Nearly half what it was when the news landed & it tanked 50%+. Crazy stuff. Will be looking to increase. Recent placing which the directors took at around 18p. Potash prices soaring too
Rightly or wrongly I have put a few more quid in to average down. IF, this comes good then good multiples from this price imo
Anyone understand the situation here? They need funding & production is down. SP has dropped way harder than those two factors...