The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Thanks for the reply Longwait (very apt username). Its been frustrating and have been in SOUfrom Orbell days / pre-Parsons. I got sucked in on the hype just as i did with Xcite (and also Range - the Peter Landau farce) ... i dont have a good track record! So far i'm one of the 90% of folks that lose money on AIM. Hope I can reverse that fate.
Cheers
Originally had 300,000 shares at an average of 12p. When the SP hit 90p I held on to my golden tickets in the hope of 5 quid a share and beyond; on the subsequent fall from 90p to 10p I've added another 300,000 shares but my average is now 30p.
Question is, am I stupid? Guess time will tell. Just trying to scrape to a break even position. The raise is a bit alarming … they should have plenty of cash as they did not drill TE-11.
Burned very badly with Xcite (another CFO turned to CEO - sound familiar? …"this share (from 3 quid) will double or triple from current levels"… surely history can't repeat. Thought i'd learn a lesson the first time, investing in 'exploration' companies with no production. Hopefully between SOU, ECHO and CORO one of them will come good as i'm heavily into them too; also AAOG - surely even with Sefton at the wheel they can't go wrong as they will soon have a producing asset and strong cash flow.
FFS - the AIM rollercoaster is too much for blood pressure. Just need 1 out of the 4 to come in.
GLA
Remember how many dusters there were in Algeria before the sweet spots were found. Sound are pioneering in Morocco. Despite the dusters, its still new information.
Not losing hope here - long term, heavy investor, been in for years. But I too was sucked in by the JP PR hype and doubled my holding over the past 2-3 years. Also heavily in ECHO and CORO ... surely 1 out of the 3 will come good?!
Anyone else think that's generous? Guess comp is based on company size/market cap, and is in line with other public companies. Some CEOs of good sized, public service companies (as opposed to E&P) are paid that, but have to manage thousands of employees, hundreds of customers, in multiple countries, plus dealing with managing huge HSE risk every day.
It just seems generous to me.
AIM is a trading platform, nothing more. Rarely do any companies on AIM reach their true 'theoretical' valuation (read broker target haha), unless there is a sale/change of control/LE.
Hidden gem here though, and I'm standing firm until the end.
So they've now raised about 22m-23m, net of transaction fees since inception. Excluding G&A and other indirect costs, are we saying that the total spend to drill will be close to 20m??!!
...and the AIM rollercoaster. Not good for the blood pressure. I remember someone saying use AIM to trade and NOT invest. Well, I'm in this stock for the long haul.
Hold firm.
Just dusted mine down and took them back out of the drawer.
Holding until the end - would be foolish not to. Understanding some 'de-risking' after today's rise, but I'm in it to win it.
394k basic salary in 2017. Mitchener 148k. Time for JP to earn it. Its a hard move, going from CFO to CEO (Rupert Cole of Xcite 'fame' another bad example) - I remember Cole stating when the sp was 3 quid that it should "at least double or triple from here", and I took the bait … JP must regret some of the blatant ramping and getting carried away. He's a young ish CEO. Maybe some harsh lessons learned for his next gig.
13. Brian said we had one of the best salt traps/layers he'd ever seen in his 36+ years / world class, etc.
Have they been looking at the correct data?!
Agreed Joe - i see my '3 shots at glory' not as T9, T10, and T11, but instead as Sound, Echo and Coro. I'm definitely over-exposed on SOU, but have also - like you - loaded up on the other holy trinity members.
Surely to god 1 of the 3 will come in?! I originally got into SOU around 2011/12 at a lowish price, and have also added a sh!t ton more when we started to see <50p. Echo got in at the start, so, although not happy with current sp, am ok with my 9p average on a significant holding. Coro - been adding when i can, sub 3p.
Overall, i think the future is bright....i'm a long term term holder, never sold any, and in it to the end. Got burned badly (very badly) on Xcite so i'm a little nervous right now. JP will prevail.
Just scroll down on the home page on the website... can't miss it
Would probably be cheeky to ask during deep dive session, but can anyone ask JP the purpose of C4 Energy? He said Coro was for life after Sound ... wonder what he and Marco have planned using C4?
Anyone have his email address? I can't find it. Utterly terrible RNS, too brief and vague … restrict delays to a matter of weeks? What, rather than months?! Is there any recourse against the drilling contractor?
"10 quid just won't cut it..." - i'm starting to believe.
Its a drop in the ocean. A wise strategic move by JP. The usual jokers getting their knickers in a twist is hilarious.
He's betting on the upside potential, with the long term incentives. He also has experience in Lat Am markets, and could be pivotal in helping secure financing in the future. Seems like a heavy hitter - a good sign for us. You get what you pay for - happy to pay a premium to get a quality leadership team.
Noticed a post on twitter warning about not investing here until you check out the salaries, bonuses, warrants etc. What's all that about, anyone got any info? Surely compensation/incentives are in line with market rate, not excessive and right-sized for the size of company, etc.
What's the breakdown of the $140k a month?