Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
It is not 'very exciting', Andy. It is pure PR fluff from a company completely devoid of any positive news.
1. It is a RNS Reach, by definition not price-sensitive.
2. It is a MOU, not any sort of actual contract.
3. It doesn't give any names.
4. It doesn't give any figures.
5. It originally mis-spelt the company's name, so was so hastily put together and desperately fired off into the ether to distract from the other RNS without even having been proof read.
If that is what passes for 'very exciting' in the telegram echo chamber today, it's no wonder you're all doing your conkers.
Wake up, man!
Dusty
I would 'suggest' as follows.
1. Do not post insulting rants (19 Mar 2024 10:13) towards people you are going to ask for 'suggestions' within 48 hours. It makes you look like the sort of mug who uses single share telegram echo chambers.
2. Specifically with regard to TM1, sell your shares, count yourself lucky you got anything out (dozens of telegram mugs won't) and re-invest in something that isn't a related party bunco where ordinary shareholders are being shafted by the insiders. I would 'suggest' something that has an established business, generates positive operating cash flows, has solid plans to grow it can fund organically, and maybe even pays a dividend along the way. There are hundreds of them out there so quite why anyone invests in this junk instead on the empty promise of quick riches beyond avarice is completely beyond my comprehension.
You're welcome.
So you've replaced one dodgy death spiral provider (CLG Capital - prop C Ofori) with another (Atlas Capital - former employee C Ofori). Wow! Er, congratulations.
Except this time we're not told the conversion terms so you are more in the dark than yesterday, the forward selling from another provider could start again at any time. Did you also notice that they drew down £1.5m - an additional £500k to the initial ask from CLG? I conclude that Recyclus and TM1 are still haemorrhaging money. Would the board care to update on the operational finances? Don't be daft.
You also now have a leaky ship. A very hastily drafted RNS with no proofreading, confirming details revealed in TW's article yesterday. Why wasn't the market informed earlier about CLG's default? You can bet the FCA are all over this now. RTO approval against this backdrop? You must be joking. TW's insider will no doubt be feeding him more stories as this spirals down. Get ready for more revelations.
All accompanied by another ramptastic RNS Reach about black mass refining. No names or figures, naturally, but no doubt the telegram mugs are lapping it all up.
Pass the popcorn. It is going to be fascinating watching it all slowly unravel from here.
Why "forthcoming"? Why not today? Why not now?
Because there has arguably been a false market in these shares since CLG's involvement was first mentioned via RNS in early November.
So if their hand had not been forced by Winnifrith's leak today, when would they have let you mugs (you know, the people who actually own the company!) know wtf is going on?
It is no way to run a public company. Which has kind of been my point since my first post here.
Nothing to do with me pal.
But I do know this, without an alternative source of funding your company is ****ed, and your supposed RTO (yeah, right) is double ****ed.
I think at the very least you're owed an updating RNS, do you not think?
Looks like the telegram mugs have done all the pocket money top ups they can. Volume dropping all week since the ramptastic RNS Reach so... down she goes again.
Where's the resistance this time? 0.65 or lower lows?
Care to explain the absence of any of the raft of good news you were conditioned by your fellow telegram mugs to expect this quarter, Dusty?
Just a couple of Reach press releases? Is that it?
When's the next CLN drawdown?
Oh, and don't worry about me pal. I'm fine. But tell me, do you hear voices in your head telling you to keep buying more, or is it just crickets?
More ramptastic RNS Reach PR fluff - by definition not financially material otherwise it would have to be a full RNS. No numbers in the press release, naturally.
Where is the real news you were all promised in (checks notes) January? You know, the export licences, the offtake deals with major manufacturers, the stellar growth in revenues, the RTO prospectus, now looking like it's dead in the water? I do hope nobody is sitting on bad news. That would be very naughty.
You can bet if there were any REAL good news they would have it shouted by town criers up and down the land. But they can't do that. Because there isn't any real good news.
Just like after the AGM, this has risen on hot air and telegram group echo chamber ra-ra. You can't keep it going up for ever with those coordinated purchases. And when it turns, as it will, it will collapse like a failed souffle again, just as it did in January and February.
OK, a fuller reply.
With all that has gone on and continues to go on (offshore ownership, questionable related parties, "administrative errors", missed deadlines, repricing of warrants, death spiral funding, need I say more?) there is nothing that can be done from this point to make me recommend a buy on this share.
In fact I would actively discourage anyone considering buying these shares from doing so.
Hence my continued presence here, despite the attempts of the telegram mug punters to drown me out.