Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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Form experience PC will not reply to emails when he is either challenged on performance , ability ,lack of communication , his ability to deliver value , or anything to do with his authority , bottom line is you won't get a reply , the man's to arrogant !
Did you get a reply?? :
Just sent PC an email expressing everyone's dissatisfaction. No doubt he will think that he is doing nothing wrong. I am now 85% down when I expected my investment to at least double when he said that a signature was imminent some time ago. Still I didn't have to invest here but feel extremely misled.
i guess it is easier to 'shout at the moon' rather than take the time to investigate the current dynamic of the pozzolan market and how scm additives are transitioning into the cement and concrete supply chains. safe - if the major players were accelerating their use of pozzolans (in sufficient quantities) then our cs project would have been snapped up long ago. but it hasn't - why do you think that might be ?
the answer isn't because pc in unable to convince cement industry be****ths that one dopey little pozzolan project (out of quite many nowadays) owned by a junior exploration company is large enough to solve their supply chain transition needs. or rather - its quite a bit more complicated than that.
I am looking forward to the AGM for an update. Hope is very much alive, the assets still exist.
An offer to buy SRES, he would have had to tell us. So 3 years after the mining plan is approved, he has not secured one offer to buy the company or one offtake agreement. And he told us all about the demand for these products in concrete as fly power stations were closing, and in agricultural products.
He is a bang average geologist who keeps finding products that nobody wants, but he thinks are great. He cannot see that nobody wants to do business with him, yet he persists as CEO and continually fails. Utterly pathetic !!
AIMVHO
0ne investor, investors don't have to put up with anything from cheetam a y more .
stop making e xcuses for his **** poor performance . he's had every opportunity to deliver value to shareholders , he obviously hasn't or didn't do his due diligence on pozzalan and the market , hence he commissioned that report last year . people have had enough of his excuses , ,2020 mining permit approved and we are no further forward anywhere with cs project.
Treestump_2, I have a lot invested here too, but I always try to put myself in the place of the other guy.
PC is a very good Geologist, respected in his field, and, not unreasonably given the scale and quality of his discovery at the CS Project, pinned the company’s hopes on it in light of the green agenda, State regulatory changes and Federal incentives to promote that change. He didn’t foresee that the industry on which our Pozzolan is primarily focussed is tediously slow to change and it seems will only do so when all other options are exhausted, namely Fly Ash is no longer available and/or regulation prevents any construction taking place without green concrete. PC cannot be blamed for that rather unexpected oversight, he’s fallible like any one of us.
The consequence of this slow transition is that, although he’s having conversations, and I don’t doubt that, no one is yet ready to commit. When it does happen it will take the form of an avalanche and every concrete producer in the US will be scrambling to acquire mine ready sources of Pozzolan. We know there aren’t many and so we have a front row seat. In the meantime, and to address your communication issue, because of this he hasn’t much to say at this time and the more he says, whilst things are moving slowly, the more he invites criticism. Needless to say, I agree with him even though it’s frustrating.
He’s necessarily turned his attention to trying to find other things, which isn’t time wasted, whilst not abandoning CS as some suggest, but he hasn’t the resources to drill and spend at this point. So Reece Ridge discovered last year looks good but until it’s drilled we can’t be sure. I’m certain PC hope to use some of the Tolsa revenue to prove the Reece Ridge project this year, but it’s had to go on the back burner. If and when Tolsa exercise their option I’m sure that’s what he’ll do and the progression towards a company which isn’t moving from one cash strapped situation to another will begin. In the meantime, there’s not a lot else he can do, he’s hamstrung until Tolsa’s cash or another royalty stream comes through.
So, frustrating though it is to all of us, it’s my fervent belief that we should support him until his objectives are achieved, which are no different from our own. He knows shareholders don’t want any more placings than are absolutely necessary and I’m also certain, had Tolsa performed in December, he wouldn’t need to.
It is what it is and we just need to accept the reality of the situation and allow him to come through this.
I don't disagree with any of that 1investor, if it was a huge company vs huge company, these problems aren't an issue, but because were non existant with zero funds, it wouldn't surprise me in the least, if they extended not just for further testing, but in the hope we go bust and they get if for peanuts.
As totally brassed off as i am, like everyone else, i haven't voted against, its just shooting yourself in the foot, with no idea who to replace him or what will happen and I've to much invested in this, for it to go down in these circumstances.
But it needs a clear message sending to cheetham, that what he is doing re' communication amongst other things, isn't good enough, id love to go to the AGM and i posted a full and frank email over last week, but as i spend mid December to mid March in Tenerife, I'm not prepared to justify return flights and accommodation to sit and hear the same old " this years the one for SRES promises. " He would be as well just placing a mannequin dummy in a seat and playing last years tape.
Notice plenty of posters over on ADVFN are restless also, including many who wouldn't have a bad word said, very worrying times here and it wont be sorted anytime soon.
If PC had declined to extend Tolsa’s option in December or Tolsa had chosen to walk away, there would have been a real risk the company couldn’t go on. PC was clearly faced with an unexpected and difficult negotiation with Tolsa, who I have no doubt, sought to take advantage of SRES minnow status and financial position to gain leverage. To strengthen our position, and send a strong signal to Tolsa that he could, if needed, raise funds to sustain the company below 0.1p if they walked away, he re-set the share placing price floor. It was a precautionary move which paid off. Tolsa, seemingly a company of limitless resources, lost leverage and proceeded to extend the option on better terms, which only PC will have negotiated.
That was a huge tactical result for the company and PC. Everyone is now carping about a share price which has dropped simply to reflect the fact that the $1.25m revenue anticipated from Tolsa in December didn’t materialise and has been delayed potentially for 12 months (now 10 months).
I’m as frustrated as anybody about the delays, but voting against the AGM resolutions would be unwise for anyone hoping to benefit from the Tolsa deal, and any other for that matter. It would be akin to shooting yourself in the foot, potentially making all of your fears a reality.
PC will raise funds before agm, he will fear the rejection of the resolution to raise funds being rejected by investors , he has certainly played a blinder here for the last 17 years
So what happens if we win the vote? Is there any credible plan for who could replace him or are we just killing the company off?
If we don’t get rid of directors and pc soon, after agm they will have their free shares soon . Dreadful
Apart from Justone (who I have agreed with for years) is there anybody else not voting against resolutions. Sorry safe but late coming to table but pc needs to go.
Thanks Treestump. Found it and voted against
All my voting forms come direct through my broker Marcel, check your account details, there may be a tab to click on via voting, which will take you direct to the form. They also inform me by email when available.
Where can I find the link to do the same? I always thought you had to turn up to the AGM to vote
It’s simple, pc new project is with Tym. Cs seems a non starter. I know pc is annoyed as having a lot less shares in Tym than us. Cone on guys time to vote him out
Voted against all resolutions
Given that PC can do real time presentations to tym . Why can't he zoom meeting the agm . Technologies there but we all know why he won't don't we
All our directors have never bought shares in Sres. Time to bin them all. I feel pc is now more focused on Reese ridge and cs project is in the past. Time to bin pc. I’ve voted against all resolutions.. I doubt pc will bother about any emails sent but he might sit up if we all attend AGM and tell him what we think of him and his directors.
Considering how many directorships Murphy has its no wonder he brings nothing to this
Murphy's never bought any, not a single share, even at this rock bottom price. Got every finger in so many pies probably and is pure and simple jobs for the boys.
If ever there was a time for this useless BOD to actually help the company it is now by buying up a load of shares rather than creaming off another load for a salary they do sweet F A for ! I mean really what do they actually do on a day to day basis to help the company ?????
Someone please take us over ......
Caddy - let us know the reply you get if you get one ...
You just cannot see your own weakness and lack of business acumin. You tell us nothing and fail year on year. You are a disgrace and do not deserve to be our CEO !
Thanks for emailing him , I've done the same, would advise all holders to express their concerns via email also . No doubt he will blame everything and everyone else as he has in the past . The last time he did release that sort of statement was just after the 1 million fundraise at .28 . Not impressed as well as other holders