Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Any news from the AGM yet?
We dont make the rules, we just play by them. Morality and capitalism dont mix so lets not get all silly about it. I had faith in this share, it cost me money, i have used my knowledge of the share to make that money back plus allot more. Its a battle of wits and nothing more, there is not a PI on this planet that would make a financial decision based on what was good for PI's as whole as opposed to there own interests so statements like "thats what got us here in the first place" are nonsense. We are not hippies (well atleast im not). If profit is in my bank account my future looks good, if it is in the hands of a market maker who will protect their interests above my own then it is uncertain. The future of the company is the responcibilty of the management not mine.
FOR IMMEDIATE RELEASE: Contact: Jarett Fenton, CFO/Investor Relations Enova Systems, Inc. 1560 West 190th Street Torrance, CA 90501 (310) 527-2800 Enova Announces Incremental 100 System Order from Smith Electric Vehicles Torrance, CA, October 20, 2010 — Enova Systems, Inc. (NYSE: ENA and AIM: ENV and ENVS), a leading innovator of proprietary hybrid and electric drive systems propelling the alternative energy industry, has received an incremental order to deliver 100 electric drive systems to Smith Electric Vehicles (SEV), manufacturer of the all- electric Smith Newton truck. The order for 100 Enova 120kW drive systems will be installed into Smith Newton trucks in Kansas City, MO. This recent order follows three previous orders from SEV totaling 220 units for 2010. This order is a part of the expected 500+ units through 2011 funded via the $32M DOE award granted to SEV earlier this year. “Enova Systems is a valued partner in Smith Electric’s production chain, allowing us to produce the best all-electric trucks on the market,” said Bryan Hansel, CEO of Smith. “As the all-electric truck industry continues to expand with more and more companies realizing the benefits associated with electric technology, Smith and Enova are ideally positioned to maximize penetration and cost effectiveness through high volume orders.” Smith Electric U.S. was awarded a $32 million grant by the U.S. Department of Energy (DOE) which is being used to offset the cost of future vehicle development and to incentivize customers to participate in a vehicle demonstration program. The company was also recently visited by President Obama, who toured the facilities and applauded Smith’s commitment to greening our nation’s fleets. “Enova’s partnership with Smith Electric has been a successful one, validated by the continued increase in orders of our drive systems,” said Enova CEO and President Mike Staran. “With more Smith Newton trucks on the road powered by Enova’s all-electric drive systems, we’re making great strides toward zero-emission vehicles.”
I take your point and it would be easy to conclude an upside, but I went through the consoldation with Tan, then saw it rise into the 70's then slide back due to the boards' arrogance. I'm glad I'm out, and have been very frustrated in the past with all the talk of significant deals for this platform, or that electric vehicle, it's all smoke and mirrors. The time for them to capitalise on the great product they have was 12 months ago, and unfortunatley IMHO I don't see how they can recover significantly from a small private investor's point of view in order for us to make a few pennies. Think of it another way the sp is only marginally more than twice the price of what it was before consolidation......
The shuttle has been grounded and will never fly again and I'm afraid I can't answer your other question.
Well, have a great time - sorry I can't be there. Hope they don't mug you off. Would have given you my form too but didn't get things arranged in time. Cheers :)
has to be a clear conflict of interests here.They have locked LIberty out whilst safeguarding their own interests.Also although the $1m is described as non refundable it would be deducted from sales consideration.Press release does not say if this is truly non refundable if 60 day extension goes by without a deal being consummated. Seeing earlier posts ,as a former MD the timescales for the deal were overly generous in the first place.I have the view that two things are stopping the deal...no finance/potential litigation
Well stated!
I had this debate with you several months ago before I got out at the mid 50's mark, this was after seeing it drop significantly to that level. IMHO all that has happened, if what I discussed with you then you still stand by, is that it is now October 2010, with a smaller share price? I'm not trying to shoot you down, but you pointed it out to me then it could go one of two ways - it did, and my opinion still remains the same - TAN completely missed the boat about 12 months ago! And as a director I have been part of much larger acquisitions that have taken less than half this time, even with due diligence!
pull the rip cord someone.
myo, yes I've just said!
I just find it all confusing with the length of time it is taking. When you have RS batting for both sides. If he can get Tan sp as low as possible he'll make it up when SEV US hoovers TAN up for peanuts and the other way if TAN SP is high when SEV US takes it over then he cleans up with his TAN shares. He wins on both accounts. To extend the talks again for 2 months when the main man has all the necessary information is hard to swallow.
has any of you been working for MI5 or been given the chance to go on the next space shuttle.
sevus comes in with bid of 50 million, liberty offers 60 million sebvus comes back in with bid of 75 million just 5 minutes before deal closes Komatsu comes and takes them all out with 85 million bid. DING DING DING DING DING DING ohhhhhhhhhhhh dreaming again.
I am a managing director and I've never read such priceless nonsense from myosotis. Let me put it in simple terms. If you were going to buy a house you would know what you can afford. You wouldn't put in an offer for a house then start scuttling around to find out what you can afford! It certainly would never take 7 months plus 2 months to complete the transaction currently under scrutiny for SEV-US to acquire SEV-uk. Your comments, myo, only serve to put you on a self made platform of self made superiority. The trouble is both are fabricated out of ice and the sun's shining!
Are you going to the AGM? Is anyone? Would be great to have some eyes and ears on the ground. I'd go but am abroad at the moment alas...
so nothing then!
Competance related pay for Tanfield directors!
Yes I realise all the electric side is in the spotlight at the moment but don't forget Tanfield the lifts business -(Snork / Upright ) All that side seems to have gone quiet and have some serious worries for what I believed was the lions share division of the group in days gone by !
a bid on the table this time next week is what should be shouted at tomorrows agm they have had 6 months up till now. As for voting in the 2 directors again tomorrow they should accept 33% pay cut or leave as they have lost more than this % in the comps m/c
...if they let the Liberty guys in! Arms will be presented at the doorway!
hmmmmmmmmmmmmmmmmm,,,,,,,,,,hmmmmmmmmmmmmmmmmm,hmmmmmmmmmmmmmmmmmmmmm,hmmmmmmmmmmmmmmmmmmmmmmmmm so is it going to be 50p offer a share and why 2 months exclusive when sev us have had since March anyway to raise funds, AND if they are strggling to find money to get sevuk tanfield how do they hope to get interest in market place to float Sevus April next year on the American market.
can no other bidder even show that they are interested in Tanfield, seems strange that shareholders can be left in dark over preceedings when its a shareholders comp and directors are voted in by shareholders to run the buissness in the intrest of shareholders profiting from their investment.
'as Myo says, we will get a share of a very big cake.'... ...how does myo know?! We've never seen ANY trading figures for SEV-US! It is PURE speculation as what an IPO would be worth and is fantasy to compare it with the Tesla IPO.
That Liberty deal came out of left field and surprised the lot of them. $1m is real money, over £550k and you dont pay that much if you do not think you will complete on the offer. This extra cash will nicely pad out the offer money so this is good news. As for the SEV offer- there will be no cash for the Shareholders but as Myo says, we will get a share of a very big cake. I would have been sceptical if no money had been put up as a deposit.