Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. 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.
Hahaha was all yours
Everyone went quiet here
If there is a shrimp of FairPlay, there is recovery for shareholders. Sale of assets will definitely generate value for shareholders. Resource is intact. $500-700m already spent on project.
Good luck Wasa. I’m in a similar, albeit slightly smaller, boat…I personally always appreciated your input and analysis. We got it wrong. That’s fine. I’ve made plenty of good decisions elsewhere which means I can live quite happily with the losses made here. I don’t seek or expect sympathy from anyone. My own mistakes led me here. No biggie. Life goes on and I’ll stick to real estate from now on.. 😂 all the best to all genuine LTH’s and the rest of the clowns can take a long walk off a short plank…
Wasarunner, thanks, and interesting story. If ever you feel that you would like to try small scale mining I am looking to expand exploration on my permit called Tekeledougou where Cora gold have worked on the permit for me. Mining for gold is easier than Nickel. You could email me on "mark325i at hotmail dot com" if you wish. All the best.
Just to offer closure because I think it will help (him), what was my loss. 6 but closer to 7 figures. I have free carry on other stocks from 50-60% sold but not doing so well. He'll come and hound me on those boards now but it's ok take responsibility for my own investment decisions. Would I do AIM again - of course not - but I'm guessing that's true of 99% of people who tried and failed. Is it rigged? Probably. It does suit the trader types who can see the ebbs and flows in sentiment, most junior companies fail of course. I guess many, me included, thought HZM was 'different' and ended up wrong. Matters not, sun is shining, off to plant potatoes. GLA and this time really farewell!
Really sorry guys and girls if my stalker is obsessing on the board I do feel sorry for you all, perhaps if I leave (which I am going to by the way because I'm no longer invested so there's not much to do here other than I could possibly berate others for not being smart like me and selling a couple of days ago - which is essentially what he is doing?) But that would imply I have no life so what's the point of staying on here when there's so much else to do in life.
I genuinely tried to learn on the board I took all views, never really understood why people came on here to warn of the perils of investing in the company my assumption was it was always because they might be short or want a lower entry, maybe that's a wrong assumption. The barman is here for something else, something eating him up inside, I can't place my finger on it but even after multiple departures and reincarnations he just can't give it up. I guess it's addictive. I've seen him post on other boards where he was previously invested (and I wasn't) generally telling everyone I told you so.I guess kicks can be had that way, not my style though.
So I bid you farewell, it has been a journey, some might say from 1.7p to £1.70 and back again, it went well for a while, I'm guessing many long termers took a hit whether now or months ago or through the placings. I don't think I was ever impolite or berated anyone, if I did, I apologies, I only offered my views and I didn't claim to know everything. Latterly it was obvious this became a lottery, I still question the motives of the main protagonists but I'll follow that in the news and digest in my own time, it matters not, my investment is no more. GLA and hope people can move on, publicans included....
I do believe that every shareholder should have a right to know what went wrong and not just the cornerstones.
"How on earth CEO didnot know about that trouble long time befoce that and did he do anything to announce so more solutions will be found than it is too late."
I'm not sure where you got this timeline from - the interim results were released on 17th August and then the announcement of a cost overrun was 2nd October so almost 7 weeks. The interim statements also included language highlighting risk factors that there were still substantial unknowns.
Its likely on 17th August they had some idea that some revisions may be needed but no idea on the magnitude - announcing uncertainties at that point was likely premature and no doubt holders would have been furious if that was announced in that way. They were likely working through the details at the time and discussing with financing stakeholders, but it was only the release of the definitive review end September, early October when they had to go back to the market.
There are two elements to investment, the company and yourself. I admit that I’ve got my investment strategy totally wrong in the case of HZM and have learnt my lesson and will try not to make the same mistakes again. I did my own research and thought the company sound and wanted to invest in it. All good nothing wrong with that until 2nd October. The lessons I have learned are in a previous post.
However, I found it hard to believe the company had got it so wrong, even at 35%. I genuinely believed that the company would find a way to reduce costs and find funding. I was obviously so, so wrong! It was the sentiment that the company was portraying at the time of nothing to worry too much about, we’ll sort it out. Or I should really say it was my reading of the story which was heavily clouded by my sentiment.
It’s obvious in hindsight something had gone horribly wrong within the company. We will never know the truth what it was, we can only speculate. How it was handled by the company is open to debate. None of us knows anything.
Some more seasoned investors saw the risks, some like me, have to learn our lessons. I managed to turn a £90k profit in August to a £200k loss when I bailed out on Monday. I’ve kept 20k shares as a reminder to keep in mind the lessons learnt.
Please read my lessons learnt post.
1000%
That is why we need rerquest the regulations of AIM companies must charge and hold any CEOs full responsible for what they did. . Any wrong dong must be full force of punishment as they cant said very good on time and budget but two weeks later othe RNS said they need 35% increases cost .How on earth CEO didnot know about that trouble long time befoce that and did he do anything to announce so more solutions will be found than it is too late. Yes now CEO just go with millions and nothing happen to him . All money lose in here no one have any responsibilities . This is investments not casinos as people come here not play casinos as the way they think it shout but the way it work place on hand of crocks and very bad management from top levels of authority
Feel its pretty harsh kicking a guy that has lost heavily in this shambles.
I have lost six figures and certainly blame my naivety as to how grotty this market is, and ignoring some warning signs.
I am massively struggling with a board that issues an "on time and on budget" RNS to the market, 2 weeks before tanking the share by announcing it is at least 35% under-financed. That is utterly extraordinary to me.
I certainly have learned and will not be looking at AIM stocks again. Retail stand absolutely no chance, unless you are a very savvy trader and know what you're doing.
I invested in what looked like a seriously good prospect with great financials.
Erroneously I looked at the cornerstone investors as a positive, not foxes in the coup. I ignored some warning signs - like JM not buying shares and milking salary, funding commissions etc. I lacked the cynicism to see how this was set up and how bent this market is.
I did not know what I was doing.
La Mancha, Orion and Glencore do know what they are doing. Glencore have said that they make their money nailing juniors to the wall. That is what has happened here - someone has nailed us to the wall.
I will not be making the same mistakes again.
You're one weird guy Pub. You're obsessed with Wasa and he's not even reading your posts. I think it's time you got over it. He's just not that into you.
Publican: "matter of fact and emotionally detached" is perhaps the best way to be when investing. Unlike yourself one might suggest. Nobody posts as much about a stranger's financial situation as you do and is entirely OK either. Besides, for better or worse, he can't see your posts anyway, and everyone else is sick to death of you droning on about it. Are you even able to stop talking about it? I have my doubts. Look in the mirror.
Yes from first day I was thinking why Karim Nasr trying to
Push the price down!!! He is doing dirty business to take the
Company to La Mancha this is how they make money and
No one can do anything
Fair enough - I won't continue flogging the horse, best of luck Wasa
Sasa I don't see his posts (unless he posts as some of the other aliases here). I find more peace that way :)
That's fine but you have 2 things wrong:
my first sell opportunity was at 20p. I was away on business for 3 days and the first considered time I could have sold my shares was the Thursday morning. At 80% down I made the decision to stick (wrong decision)
my point isn't that cornerstones might wait for admin - it happens - if it can't be funded. My point in my post is they commissioned a report which predicts a 3x CTC than the the report commissioned by previous management. There is a possibility this smells bad. That's my only point.
Anyway I leave you all in peace, having sold up. Good luck with your future investments. Probably the best time to sell was after the first financing deal was announced, thankfully, I did, around 50-60% of my then holding, and was roundly slated for it by many on this board. You can't win with people, you sell, 50% of people on the board think you're a ick, you don't sell, the other 50% think you're a ick. So I find it easier just to ignore other people - it was my decision and my decision only when I bought and when I sold and I'm comfortable with it. GLA
For pity's sake, Publican, leave the guy alone - wasa made a huge mistake in believing JM's forecasts of how everything was on track to deliver here, as all the LTHs did before the scandalous falsehood was revealed a few weeks later.
Okay, you were right on this occasion whereas most of us trusting investors weren't and have suffered huge losses in consequence, so give it a rest for all our sakes - sasa.
"Spike not sure what your point is, I didn't make the investment months ago"
Sure, but you could have exited at about 70p when the first announcement was made about cost overruns when it was already pretty clear that the writing was on the wall for shareholders, either through massive dilution or complete wipeout. Instead you continued dreaming up ever optimistic scenarios and even down at 3p were talking about potential bail out placings with hundreds of percent premiums to the prevailing share price.
So now instead of examining your mistakes you are instead thinking its a stitch up.
Tell me something - why would the cornerstone investors not wait until administration to pick this up cheaply and most likely succeed in getting a substantial hair cut on the debt? Why all along did you think they would throw in more cash at a premium and be stuck with the existing levels of debt?
Incidentally I thought we might be ucked when the number hit $450-$600m. The question I am making in my post today, is, is that number valid. How can we verify it? It's a big number? Someone got something catastrophically wrong, the DFS, inflation, the 'it's still ok and we're on track', the 35%. All nonsense if you believe the CTC $600m is valid. So many entities getting so many numbers wrong so many times....... I get that there's risk in mining but the CTC is now around $1bn from $443m. Quite a hike!
Spike not sure what your point is, I didn't make the investment months ago, I invested since 2018 since when the EV revoluation was meant to be coming nickel was going to be in deficit and here was a London listed, low cost explorer to be producer. 95% of my investment was before October last year. You mean I held? Yes in hindsight I should have sold but didn't.
Yes I guess small companies / small shareholders don't have protection, if the moral of the story is only invest in Glencore's as a PI, I got the message and it may well be what I do in the future. Not the same return, but also not the same risk.
Not sure what we're meant to do at this point adulation to all the people who are pessimistic about AIM stocks and small companies generally. Who aren't invested but post anyway? I own my decision, it went south. No problem with that. But I'm not bowing to the superiority feeling that others have in revelling in others decisions gone wrong. I hope you lots of luck with your own investments :)
Not in production - it was Horizonte post DFS pre finance. 3.5m-4m tonnes proven reserves. Held 26m+ shares and IIRC there were circa 1.5bn shares in issue.
Wasarunner - interesting. The company you have 2% interest in, was it in production?