focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar 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.
The knock on effect of the RF facility. The shares in issue was approx 68 million before RF, it's likely to be over 110 million when all this is done. So a £2.5 million loan will have, directly and indirectly added over 40 million shares in pot. We won't go into the 90% reduction in the market cap.
I agree Lazarus, that there are some 'jittery' shareholders on here. :-)
Bridge - after consolidation we were at 68 Million total shares ... but because of the RF funding screw up we are now going to be at around 108 Million once RF leave the table .... so its more about the affect they have had on causing the need for the placings etc
Thats fine Potnak and I hear you. However, my view is equally important. You use the royal "we" as if you are speaking for everyone. You are not, but I fully accept and respect your individual views and opinions.
I am expressing disappointment with knee jerk reactions which would only add fuel to the fire and also the amount of assumption and presumption presented as fact when it is clearly not fact - just somebodys angst or interpretation.
I can assure you that I am as disappointed as anyone as to where we find ourselves but I think that pragmatism and clear thinking is called for especially in a crisis.
Of course, in between all of these exchanges are Fudsters and Traders who will feed on genuinely held views.
I am an investor and I prefer to support my own decisions rather than jump on the bandwagon that promotes constant blame and negativity.
I believe Potnak is including the shares from thew recent placing and WRAP offer. Which Sareum had to put in place to make up for the funds it now won't be getting from Riverfort. Under the circumstances I think this is a fair way to sum things up.
Bill.
"The whole RF saga will cost in the region of 40 million shares"
How did you come to that figure? I make it 4.7m including warrants.
We have committed to not further drawdowns on the facility.
Excellent Post POTNAK ... Totally agree with what you said there.
Laz, I admire that you can be positive and forward looking here but this forum is for all views, good or bad, whether you are a shareholder or not. I agree that, for now, we are stuck with the board and they need to get on with the job but the reality is, the company has been badly managed since around 2018. We were promised trials within a year from 2018, they raised, promised, raised, promised, and so on until now, where the boards last big decision nearly killed off the company for good.
There are some here that willfully ignore that all roads lead to the board, they are in control of this company and the buck stops with them, always. Stop giving them the benefit of doubt, stop implying that things could be worse. Stop trying to put a positive spin on, what is a massive dillution.
The shareholders risk their cash hoping for a good return, we acknowledge the risks and we are patient but we also need to be confident that the board will do what they say they will. Frankly, the goodwill we gave them has been squandered and they got too comfortable. They need to know that, there is no more good will. IMO, they are avoiding any sort communication to the shareholders because they don't have the answers and public apologies will crystilse the feeling that they aren't up to the job.
We speculate here because the communication is bad. We are left second guessing every RNS that is released. IMO, they haven't learned their lesson and they will continue to obfuscate because the truth is probably worse than most here think.
As it stands, 737 aside, the director buys last week probably means there is no immenent news due from Aus. RF will know this and will keep drawing down because they know that when the sp does go up. They have an option to purchase the warrants at 10p. The whole RF saga will cost in the region of 40 million shares and any future deal won't take this into account so if a deal is worth a £1 SP, then the initial £2.5 loan will have cost the shareholders £40 million. If by some miracle, the SP reaches £10, the total cost to shareholders is £400 million.
Yes, we want the board to succeed but the above is mostly of their own doing. The fact that Parker hasn't gone probably means he is a vital cog in negotiations of the deal we all hope they are making. That's about as positive as I can get right now.
What is currently happening is all about sp manipulation. We are living through the consequences of the funding deal and we have been screwed on the way down and we are now being screwed on the way up by RF and brokers who may or may not be colluding with them. Pumped yesterday to 14p before the sells started hitting so retail investors were sucked in at a higher sp. Now the dump to 12p currently and the Brokers will get cheap shares back again.
There is little or no integrity amongst brokers or in the City for that matter. It is little wonder that Companies listed on AIM struggle with valuations and with raising funds.
Anyway, for sanity sake, look at what the BoD has achieved and where Sareum is both operationally and scientifically. Then compare the projected value of that achievement versus todays measly market cap. Happy to hold on until the BoD release positive or negative updates. Still following the news and not the chatboard angst.
Sorry about the errors, rely need to read over what my fat finger comes up with
Trader, yes, we have to just let RF burn their way out and be gone. Nothing anyone can do.
Too much catastrophizing atm.
Like your post jazz manner. There are a number of potential breakthroughs for Sareum owing down the tracks on 1801 that should validate the science further. Positive 737 news also hopefully on the way. I firmly believe that the SHs here are fully committed to finding solutions to the Co.pany finances to ensure that progress. I think we are feeling down and that frustration may be I.pa ting on the SP. Ther is a view from Ted Crilly and others that RF are rapidly ridding themselves of their additional shares by forward selling. On very little selling g the SP hS been taken down y 11%. Millions of shares were bought o er the past week. Let's see the bright side of life as the say as we await the news on 1801 patent, 1801 p1 final results, 737 news, partnership or licencing and in the knowledge that we are prepared to step into the brech again. Onwards and upwards for our battered but not broken holders.
Who for god's sake is Parker? Non- executive he is. Instead question Tim appointed CEO.
Any goof reason there to ignore that fact?
RF shares: 2.9m
If sold forward yesterday at rate of 1.45m quantity sold
Today 500k quantity sold so far...
RF could be all sold up by Friday, then requesting more on Monday
With £800k to go that's 3 more tranches at 2.9m shares or so, we could be seeing the back of RF by the end of April all being well. Yes the SP will flounder at 10p or so, perhaps a steady decline for the next few weeks but as soon as RF Foxtrot Oscar, we should be able to see steady gains on the SP, let alone if that coincides with news at the end of the month GLA
Laz. I’m completely with you that now is not the time to change any of the Directors or Neds.
But it is however time for them to up their game. They seem to stumble from one bad decision to the next bad decision. All people are asking for is the management to aspire to their titles and “Direct “ the company rather than continually being victims of circumstances of their own creation and shareholders having to suffer the consequences.
FFS Mitchell and Parker step up to the plate and start earning your lavish salaries and benefits. NOW!!
Ok then, Preyno. Here is the message I sent you:
Good morning, Preyno
I'm pleased that you enjoyed the Red Lion at Hinxton. I've only had good experiences there.
Its my work that takes me to the Cambridge area (I'm in Surrey) but as of now there isn't anything going on there that requires my presence. At the moment most of the activity is in Europe and the USA.
But, I'll let you know when this changes.
Thank you,
Bill
The message wouldn't open for me, Bill, but 1 + 1 = 1, I imagine!
All the best to you.
P.
The illusive good news
Apologies for banging on but to continue, where on earth do you think we would find a quality chairperson, CEO etc: to join a Company on a deferred salary scheme and with no revenue or funds?
We really do need to get behind the individuals that have taken us this far so that continuity can bring us success.
Changes can be made but only in a structured and coherent manner. I see nothing wrong with our direction of travel and I despair at the amount of presumption and assumption being promoted as fact here.
Now we’ll have those coming in that will be delighted with a quick 20% return and then be gone… we’re always at the whim of the Traders but there’s a solid core of Investors in Sareum, and within those Investors there are those that are angry and frustrated, and those that Keep the Faith in the science… Those that understand the Science, see the Potential and await with excitement… The share price is the Result but the Science is the Cause…
Can’t believe the market reaction to the past few months… confident that the reasons for what has taken place will become clearer in time… We’re better positioned than we have ever been over the past 13 years I’ve been on this journey…
Agreed but not for £800K ; It would be for much less as you need to subtract whatever RF sell their 2.9M shares for .. lets say that is £290K (@ 10p say). Then we only need raise £500K to pay them off
I think they should have another raise .@10 pence This one public for 0.8 million with the stated intention of paying RF back and also give people a bit more warning. The BOD should also participate.
Panic? What panic? There is b*gger all volume being traded this morning
Aber - this needs some clear thinking instead of the constant hand-wringing that is evident here. A crisis has been averted and the BoD have all bought shares. Yet many here just want Parker out and continually feed the negative doomsters with ammunition to spread FUD and to go short.
People need to get a grip and stop trying to create a bigger mess. When navigating a storm you don't throw the skipper overboard! Can you imagine the effect on the sp if any or all of the BoD resigned or shuffled? Carnage will follow. I strongly suspect a lot are trading and creating FUD. I am in Billys camp and will vote against any negative motion. I know a lot of others who feel the same way as myself but don't post.
RF holding etc: and the BoD out are all Red Herrings. Wait until calmer waters before you call for heads to roll. Other than that it appears to me that there is a lot of fake outrage out there in order to promote the sp drop.
I’m afraid they don’t see it that way. Never has been and there are too many examples of that so far. Without putting a pressure on them they will not change