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Once RFO is out we move towards placing - obviously a bit mad if we see placees forwards selling into RFO's selling. So I presume that won't happen. Its RFO out. Then placing. And hopefully a better class of finance this time round. Warrants is another issue, I guess. Complex this one.
I'm sure they are focused on the problem at hand now, Gunner. The damage was done 2 years ago, they should have raised back when a discount would've meant £1.50. Tim has stated a few occasions they wouldn't never pass up the opportunity to raise cash. Seems that something was happening back then to make them think they wouldn't need it.
I know some who do SP TM JR
GLA
Ah, what a saint you are. Maybe some people don't need any help?
Yeah, Silver, I know what you mean but for me, I am genuinely only buying with spare cash each month. If I lose, its only money that I would have spent on beer and going out, so no great loss. I'll feel better if we get to the end of the day without a bad news, Friday RNS. Interim results are due next week. There will have to be an RNS for that and with that, a forward-looking statement, which should have some clarification of our cash runway. I'm not buying today but today could be the last chance to get in this low.
Totally agree Potnak - well put
Silver - if you look at the BOD salaries TM is drawing 200K and 15K in Pensions ... so they are probably okay in retirement thanks to the shareholders they have looked after (NOT)
Completely different argument Surfie that does not validate your earlier comment. I can assure you that myself and my family continue to buy in reasonable chunks. Quite happy.
I would love to buy more at these prices but am fearful of pouring any more money in until the mood swings back in a positive direction with some positive news. My average buy price is 1.3p old money 65p new money so my current holding sits at a hefty loss like many but at least I did sell some in the summer of 2021 so one of the lucky ones sitting on an overall gain although that is little comfort when looking at the losses on the remaining holding over the last year or so.
Assuming the BofD were looking at the sale of their shares at a decent price to fund their pensions (and assuming they probably didn’t have the nous to make pension contributions out of income) then they are suffering like other LTH and will be keen/desperate to arrange some minding of funding to take us through 1b. If they and we are all in it together then there is still hope.
I'm not sure why you want others to justify their strategy? Sell, short, hold or buy. It's up to you. I know why I'm buying and I'm happy with my decision. What I won't do though is to try and scare others so I can make a few pounds.
Well lets say you bought at the start of this week you would have lost another 20% on your so called investment! Or if you prefer nearly 60% over the past month.
Morning all I feel your pain im paper loss £65k also been here 14yrs. Hawkander that statement is very true , Tim needs to get is act together and keep shareholders in the picture . just to break even would be a miracle at this point. jules
This mess has been created by SAR themselves, as they never appear to know how to present their science in a more positive way and Tim is a dead loss as a salesman, he maybe a great scientist but he`s a dead loss when it comes to presentations and has no idea how to promote the science. I`ve been here 14 years and truly believed in what they could achieve but they haven`t done themselves any favours when promoting the science and now we have a funding issue. The individuals who have invested millions in this company, can`t be thrilled with the performance in the SP and the way it`s all been managed. I just hope SAR can now see the errors they have made and seriously get someone who can promote the science and get this moving North again.
Negative and disingenuous rubbish from you again Surfie. Completely made up by you but presented as a fact. The trades data cannot be wrong can it.
I bought some this and last week and have been buying small amounts since RF came on board. I will hopefully chuck another £1k next week on payday. Worst-case scenario is I don't have any disposable income until next month. Bestcase is another 6000 shares in my pot.
Aber, I share your concerns. One sure-fire way of destroying confidence and creating uncertainty is to allude to funding issues but then offer no concrete solutions and leave everyone hanging. The only glimmer of hope was the phrase "has taken steps to preserve its immediate capital utilisation", suggesting in typically vague terms that the BoD are tightening the purse strings and hopefully deferring their salaries until this whole financing fiasco has been sorted, if indeed it ever does get resolved. Increasingly, the Sareum directors are being made to look like a bunch of rank amateurs, what with a seemingly abandoned HQ, TM holding shareholder meetings with a squeaky chair soundtrack, and crucially a distinct lack of commercial nous. I have held for ten years, but patience is wearing thin I'm sorry to say.
“What I simply can’t get my head round is who in their right mind would be buying here.”
No one is buying shares here or at least not the supposed LTH. This is just nonsense from some who wish to let others think everything is ok here when clearly it is NOT.
There may not be a financing issue. If £300k is all they need for now, they could find that down the back of the sofa. Phama wants to see the data and as I understand it we are £300k ish short to get to showing them the data bit.
Both strategies can work. Why buy? Cheap as chips and if we all wait for funding to be resolved we are likely to pay more. Also, there is no guarantee that we lth’s could participate in any raise. It would also be interesting if something came from left field. With the new ISA allowances within touching distance, I would imagine PH may well go long. Interesting times.
Just because of the upside, Mr Hood. The potential to 5 x from here in a very short period of time is just about living AIM dream as you can get. £1k will buy you approx 6000 shares. We don't even need good trial results to get back to a pound, just funding. Funding and Good P1 results and funding for 1b will see the SP heading back to £2. If you can risk your cash in a short for a few pence per point, I will risk my cash for a potential 5x. One of us will get burned.
Hello Shepherddollar - Just sent you a message.
Bill
Not a single comment re this over on the RGO board - must tell you something about the company.
Aber - I think this is one of those no news is good news things. At least I hope it is. and by good, I'm being generous, I mean "no news, is not necessarily bad news". The board will have to clarify the situation by the time the interim results are released because it will all be laid out for us. All finance details, warts and all. As HBD speculates, we may get notice of the trial completion and hopefully, a rapid plan to review and release the data. On the funding side of things. I read the RNS to mean that we needed the £300k drawdown to get to the data readout and with some belt-tightening, Deferred salaries, Office lease costs and other stuff, we might just get there. Directors buying might not be an option as I would think this is the very definition of a closed period. If next week's results RNS can show a funded path forward. I think the SP will rise a little. It's not ideal but it is what it is. Payday next week so I'll probably buy more.
Aber, I’m sure news will come in due course. The BOD are having a meeting today around the camp fire at their new HQ. The communication issue is due the Wi-Fi not operating very well inside the tents that are the new offices. But on the bright side this keeps the overheads down and they don’t need to worry about keeping the lights on as there aren’t any. All is Rosie.
I am concerned by the lack of ANY news post the last RNS bombshell;
Whilst we all assume (and is almost definitely the case) that major discussions are occuring on a aily basis to try to resolve the current predicament, there are still things which could have been done and announced very quickly in order to reassure the ever faithful group of long term shareholders ... Namely :
1. The Immediate addressing (and reduction) of salaries to preserve whatever cash is left in the pot ... &
2. Possible purchase of shares by the BOD (TM and JR especially as they only seem happy with options currently) to show some level of confidence that things will get resolved
Both of the above could have been done prior to this date !!!!!
Lets hope for a quick resolution from this point
GLALTHERS