Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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What are you on about ?? They haven’t got the authority to issue shares.
Anyone posting they couldn’t do a placing was correct.
They couldn’t (and still can’t) & unless they change the resolutions still won’t be able too because you would have to be stupid to keep allowing AS to place at ridiculous discounts and his precious 7.3p NAV.
Most likely just to let his mates in before it all kicks off.
It was clearly not their intention to keep that way .. or it made a total hash of the statements they’d written in the accounts .
Only 2 days later a RNS confirmed what I said .. so who was correct .. wasn’t too difficult to see this would be rectified .. either that or we were invested in a VC company with no ability to continue as a VC company and expanding their PF ..
My point is all those moaning now should have read everything available and they would have reached the same conclusion .. and wouldn’t have been so surprised by the update .
They did remove their ability to do a placing. And that remains the case until June, if they win the vote.
I posted on Friday that it was naive to believe they would remove their ability to do a placing. especially as in the annual statement it stated they wouldn’t rule it out and were in talks with some promising companies .
Don’t blame the BOD for people running away blame those who were posting on here saying they have removed their ability to do a placing . NO PLACING !
No company would do that especially a VC company .. !
DYOR and read what’s already out there not just read the bbs and listen to what you want to hear !
GLA .. well done those who took some profit at the top .. be time to get back in soon :) rinse repeat ! GL
I have no doubt that Tern need to have the ability to raise money, and sometimes to be able to do so quickly. But if it happens, then it should happen at a fair share price. Historically, that's not been the case, which is why so many people are wound up. I would vote in favour if the motion included a proviso for a minimum share price.
I also cant help but think it's time to sell an asset rather than fund raise. But I'm saying that whilst not knowing what's happening behind the scenes. It could be that another 3 to 6 months ownership of DA (or any of them) could mean a difference of hundreds of millions. Imagine we let DA go now and it emerges as a key player in Biden's activities.
So yes, we're right to be cheesed off. But remember that this motion is not for a placing, it's for the right to conduct one. And remember also that we're nearing the end game, and none of us are well informed enough to be truly confident of our opinions. To a good degree, as usual, we need to trust the Board.
Having spent 2 years in TERN and most of it has been bruised. My view (no one cares but you're getting it anyway), Sisto and FD are dorks; however, DA and Wyld have some good wares.
IMHO what has been going on is not P&D, it's just too damn big in the nature of buys and the SP rose too high to be a P&D.
The bedwetters will run and whimper but I do feel there is some big thang going on here.
Take care folks, enjoy the ride, don't check in too often as it will send you crackers and good fortune for those that are prepared to wait a bit. DA and Wyld have services/product that out-trumps Sisto and FD clumsiness.
A thought: The reason they need an the 'option' to raise shares might be to ensure they don't get painted into a corner for an offer for DA or Wyld. If they can't finance via options a predator might make them a lower offer for DA and Wyld which they might feel compelled to take to make the wider TERN work.
Also, do some digging. The septic Sisto is also privately a significant shareholder in DA in its own right (outside of TERN) and giving his advancing years (and obese size) he must be wanting the mother of all offers as well.
Keep the faith you misfits ;oD
when it drops ten percent then another 10 percent the newbies panic and the selling has a snowball effect. They just want to make 15% and not lose 15% so they then sell or stop losses get taken out. All that al Sisto has succeeded in achieving is having most investors voting against the notion it will be a blow to him, to tern, and all the hard work that has been put in for all these years. Oh well it is his fault for his initial wanton greed in wanting to dilute the shares far greater at the AGM and it got voted down. It will still fly but many newbies will have been let down and sold at a loss after panic selling.
He certainly is not bothered about making friends. I have to say I would rather play with a straight bat and I would not want to live my life looking over my shoulder. Still in and well in profit so still happy, others will be much less so. Finally believe Al Sisto may have tripped up over his own laces though.