Roundtable Discussion; The Future of Mineral Sands. Watch the video 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.
13/01/2021: RNS 'Conversion of Convertible Loan Notes'. [Announcement that CLNs would be converted into equity. First notice of massive dilution]. https://www.lse.co.uk/rns/AEG/conversion-of-convertible-loan-notes-72e973n979o1cee.html
Since the RNS the sp has fallen 59% of days and shows no sign of moving up.
22/01/2021: RNS 'Update on CLN conversions & Total Voting Rights'. [Announcement that AEG has increased shares by 153% from 2.3 billion to 3.9 billion]. https://www.lse.co.uk/rns/AEG/update-on-cln-conversions-total-voting-rights-wfobu1oowi6yv3l.html
Since RNS announcing increase in shares the sp has fallen 80% of days.
Laws of phyisics continue to apply.
Share price was last at 3.522p 14th August 2018.
Since then Rowan has become CEO and moved the CoalSwitch reactor from Utah to Lumberton (in NC) and not yet rebuilt it. Share price has tumbled, Rowan has taken huge salary.
Reactor remains unbuilt.
The share price fell 90% because Rowan was doing nothing and the market knew. Share prices do not tumble like that otherwise.
Rowan is now paying himself to get the sp where it was 15 months ago. That is printing money on the back of shareholders.
Shares now number 153% more than 2 weeks ago. Reactor yet to be built.
3.5p easily possible this year if all the ducks lined up. June has to be successful and then really lots of huge players will be interested.
No debt and cash in the bank and yes lots of shares but huge potential. Let us hope we meet that deadline...
And those £s are only if themself sells immediately. He won't care about AEG no more innit? He only cares about share price in 3 years before he takes the money and runs.
Of course it will hit 2p. I never did say it weren't bro, innit? Years down the road, but yeah it will hit 2p.
Shares in issue are more than x 2 since last week so will take years to get there. No problem for CEO coz he has 3 years before he can take the money from the LTIP.
His incentive it to get the share price to 2p in three years time. Don't hold your breath Preefy
That is a lot of money innit Prefty? All for themself.
I added it up to a cool 1/4 mill when sp hits 2p and near on 3/4 mill when sp hits 3.5p. Correct me if I am wrong.
Phewee - innit a lot? Reckons its OT(T) bro.
So I’m guessing you didn’t actually buy any at .4p and have a very high average. Understand your anger and go open a beer. Keep on smiling.
Sorry, I forgot to put the sp when the CLN conversion was made and when Rowan announced he would be receiving loads when the LTIP vests in 3 years time.
Here it is:
19/02/2021: sp = 1.18p - CLNs replaced by equity – Total Shares increase by 153%
26/02/2021: sp = 1.18p - CEO announces that he and the Board have entered into a LTIP that will reward if sp rises to just above 2.0125p and reward even more if sp rises to 3.522p.
There you have it. sp falls 90% in first 17 months of Rowan' leadership from 3.37p to 0.33p.
15 months after that, there is and RNS detailing LTIP that awards to Board when sp first hits 2.0125p and then even more when it hits 3.522p
That is some award, and of course on top of general remuneration, for complete failure to fulfil any promise in years.
Who says that printing money is a bad thing for everyone? Milton Friedman eat your heart out.
Potentforce,
A fans favourite share right now is Avacta (AVCT) - Alistair Smith has been CEO since 2005 when the share price hit. prices of £7 per share. Approximately 12 months ago the shares sank to 14p area before shooting up to just over £2 per share, it's one of the hottest talked about stocks over same period.
I'm sure there are a few investors who live in the past, there are others who bought at bottom and have benefited financially by jumping onboard the story as the true value is being unleashed, does that make Mr Smith a useless CEO that should be outed, perhaps you should go through all those shares whereby the price has fallen and bring to account the CEO's on each board.
Of course you won't be earning any money during this period, but that isn't you mission, your mission is to ruin the opportunity of everyone here today to earn any money as you as so far stuck in the past it hurts you to see progress, even moreso those who post positively as they are clearly making money.
It's a stock market, shares go up and down, timing your entry and exit prices is critical. This looks like that inflection point to my mind, we wait and see.
02/01/2018: sp = 2.35p – RNS ‘CoalSwitch Full-Scale Reactor Test Completed’
05/02/2018: sp = 3.60p – RNS ‘CoalSwitchT Plant to Become Fully Operational’
12/02/2018: sp = 3.35p – RNS ‘Opens Inaugural CoalSwitchT Plant in Utah’
28/02/2018: sp = 4.20p – RNS ‘Purchase Order with Young Living Farms’*
13/04/2018: sp = 3.90p – RNS ‘JV signed to Commercialise CoalSwitch in Poland’
23/07/2018: sp = 3.37p – Rowan becomes CEO
07/03/2019: sp = 0.73p – RNS ‘Completion of Lumberton Acquisition’ (which is in North Carolina.)
[CoalSwitch reactor to be moved from Utah to Lumberton.]
23/04/ 2019: sp = 0.53p – RNS ‘CoalSwitch Site Awarded $500,000 Government Grant’
24/04/2019: sp = 0.55p – RNS ‘CoalSwitch(TM) Test Reactors arrive at Lumberton’
10/06/2019: sp = 0.42p – RNS ‘Test Reactors arrive at Lumberton in the U.S.’ [Yes, they arrive for a second time !]
08/07/2019: sp = 0.39p – RNS ‘Raises £3.4 million To Accelerate Development’ [of CoalSwitch]
11/07/2019: sp = 0.42p – RNS ‘Reactor Installation to Commence at Lumberton’
09/10/2019: sp = 0.41p - HKU posted: “What a load of rubbish. Aeg said this months or even years ago.
Market has zero faith for a reason. Sub .4p and Christmas could be fun as we will still be waiting.
One step forward and 3 back. The bod refuse to answer emails and holders are ringing welders for updates. Quality PR."
11/12/2019: sp = 0.46p – RNS ‘Update on Permit Approvals for the Lumberton Site’
[From RNS - “Once the Permits have been awarded, the Company will commence construction of the reference plant” again...]
21/01/2020: sp = 0.58p – RNS ‘US first case of Covid 19 confirmed’
[6 months after “Reactor Installation to Commence” RNS of 11/07/19. Covid not responsible for the many failures before 21/01/20.]
03/12/2020: sp = 0.50p – RNS ‘Engineering progress at CoalSwitch plant Lumberton’
[“Construction crews will commence work in January 2021 with commissioning of the plant expected during Q2 2021”]
19/02/2021: sp = CLNs replaced by equity – Total Shares increase by 153%
26/02/2021: sp = CEO announces that he and the Board have entered into a LTIP that will reward if sp rises to just above 2.0125p and reward even more if sp rises to 3.522p.
Rowan and his lackies need do little more than nothing to get their hands on that lovely money which is lucky because they only have experience of doing nothing.
Meanwhile, the so called ‘reference plant’ reactor is yet to be built.
I could no problem
Why originally base in Utah and move to Lumberton and the send the product back You cannot get a thousand t of feedstock over there?
Its like a desert.
So why base in Utah Einstein.
@Potentforce you could do to inform us why they moved from Utah to Lumberton with facts not hearsay.My guess is that there is a greater access to stock in and around Lumberton and also closer to the Atlantic for export.
I don’t think there is anything sinister in what you are pointing to, bearing in mind the company cannot be producing whilst they are relocating, hence the drop in so. Only my opinion of course.
Wonder who they paid off..
Potent force, I think we should judge Rowan on his performance as CEO over 5-10 years not 2. He clearly took some big strategic decisions which led to short term SP decline and those were exacerbated by Covid. The time to judge him on those decisions will be 2025 not 2021. At the moment there’s a reasonable case to make that he will be judged pretty well in 2025 but we’ll have to wait and see.
I feel like the SP targets for the options are set a little too low but the exec will remain incentivised even if we surpass those targets and new options will no doubt be granted at that point.
Out of interest, what was the rationale for the move from Utah btw?
Welcome to life. Get over it, you bought more at 0.4p so it is a win-win.
I bought millions between 0.4p and 0.6p so we will hopefully make a great profit.
There is also the Mcap to consider rather than the irrelevant share price. Chin up and go make yourself a cup of tea.
Apologies for numerical error in first post:
That clears up why nothing has happened with CoalSwitch. Rowan and his crowd have been busy cooking up ways to pay themselves even more.
You have to hand it to them; finding a way to reward for failure is quite a trick.
This is not a LTIP based on AEG advancement, this is a LTIP that pays for getting AEG back to the place it was before the litany of failures overseen by Rowan.
Rowan became CEO in July 2018. The sp that day closed at 3.37p
In terms of the LTIP, the sp was last 3.522p at end of play 14/08/18 and last 2.0125p at end of day on 15/10/2018.
On 14th August 2018, AEG had a working CoalSwitch reactor in Utah that had gone through a number of successful test burns.
In March 2019, the Board of Directors led by Rowan, decided to dismantle the CoalSwitch reactor and move it to North Carolina.
By 15/11/2019 the sp had fallen to 0.33p.
That was a fall in sp of over 90% within 17 months of Rowan becoming CEO. The day Rowan assumed CEO responsibilities on 23/07/18, the sp closed at 3.37p, on 15/11/19 it was 0.33p.
The CoalSwitch reactor is yet to be reassembled in North Carolina.
This LTIP then will pay Rowan and his Board for getting the sp back to where it was before incompetence destroyed it. This is not payment for success, this is payment for doing failure.
Is that how it works? You take a nicely developing product like CoalSwitch, destroy its advancement and then pay yourself loads for getting it back to where it was before?
I have never seen such blatant self-reward for failure.
That clears up why nothing has happened with CoalSwitch. Rowan and his crowd have been busy cooking up ways to pay themselves even more.
You have to hand it to them; finding a way to reward for failure is quite a trick.
This is not a LTIP based on AEG advancement, this is a LTIP that pays for getting AEG back to the place it was before the litany of failures overseen by Rowan.
Rowan became CEO in July 2018. The sp that day closed at 3.37p
In terms of the LTIP, the sp was last 3.522p at end of play 14/08/18 and last 2.0125p at end of day on 15/10/2018.
By 14th August 2018, AEG had a working CoalSwitch reactor in Utah that had gone through a number of successful test burns.
In March 2019, the Board of Directors led by Rowan, decided to dismantle the CoalSwitch reactor and move it to North Carolina.
By 15/11/2019 the sp had fallen to 033p.
That was a fall in sp of over 90% within 17 months of Rowan becoming CEO. The day Rowan assumed CEO responsibilities on 23/07/18, the sp closed at 3.37p, on 15/11/19 it was 0.33p.
The CoalSwitch reactor is yet to be reassembled in North Carolina.
This LTIP then will pay Rowan and his Board for getting the sp back to where it was before incompetence destroyed it. This is not payment for success, this is payment for doing failure.
Is that how it works? You take a nicely developing product like CoalSwitch, destroy its advancement and then pay yourself loads for getting it back to where it was before?
I have never seen such blatant self-reward for failure.
I am more than disappointed to see Rowan get such a large share option grant, I always hoped he would leave saving some face and allow an engineer to take charge and take us forward. I think the restructure has been a positive move and believe now would have been a good time to change the operational side of the business and remove the stench we have had once and for all.
lets hope the BOD take up the options in 3 years time when sp is well above 3.5p :)