Member Info for antelope

So you believe that a dynamic startup technology company in a market leading position is worth only a five year old NAV, which became established about a year (if that?) after the company became commercially active?

Again, you either have a transparent objective in mind here, which is selfish, or you're pig ignorant of the tech. Or just stupid of course.

IoT, am I right in thinking that you're quite elderly? In your 70s or maybe 80s?

..if it keeps this up, we'll be able to get it barred.

Yes, they're talking about to them as well about a jv.

Most don't know what they're doing and so rely on following each other. It takes the herd to start moving.

Mrjersey, Tern might follow suit and trade at perceived value. That's what we all want. But there's this perception - especially promulgated by the trolls you refer to - that AS will fund raise at a share price based on nav. This is the point. Historically he has raised at well above nav before, but not every time. This track record is used by some to drive the price down. So in a way, it becomes a self fulfilling prophecy.

In my opinion, the last RNS dealt with this issue using unusually delicate language and going out of the way to explain why it is necessary to raise funds from time to time. Placing a ceiling on the amount and promising to use PrimaryBid. Personally, I choose to see this as increased awareness on the part of AS, who will try to comply more with shareholder's wishes. And the RNS does not guarantee a fund raise, merely asks for the power to conduct one should it be necessary.

All we want is an assurance that such fund raises be conducted at a share price that reflects the true value of investees. Not historic NAV. How can we ensure this? Even if it's not actually necessary.

They tend to be largely in sync. Sometimes you can buy cheaper one place than another. Liquidity can be a problem, but if you stay within the NMS, you're ok. FX risk can work both ways. So over time, should cancel out.

Thanks nefabeta. (posts crossed)

He hasn't always. He raised at 26p once. Leaving myself open to guffaws of laughter here, but it couldn't just be coincidence could it? That the price just happened to be down there at the time? I know he refers to Tern's value as the nav of its assets, but is that just a book value or something, and shouldn't be used in the markets? I know nothing about accountancy... nefabeta where have you gone?

I've raised this question before, and it was answered, just briefly. If the NAV rose substantially, would that count as increased income of cap gains or something, and land Ten with a tax bill?

It's not bb members adhering to it, it's AS..

Please write to him! (al.sisto etc)

Have you tried buying in Australia, the States or Germany? It is oddly quiet everywhere mind you, strangely.

No one can know when an exit will happen. As recently stated that he'd prefer to see another quarter or two of growth in whichever investee he's thinking of in order to max out the sale price. That alone implies that he's expecting offers imminently.

Certainly you cannot state that an exit won't happen soon. It could happen tomorrow. Why wouldn't it? Especially int he current fevered environment concerning IT security.

Do you by any chance have a second avatar on these boards going by the name 'dumbpunter'? You both offer poorly derived opinions as facts.

Agree with both of the last posts, although I suspect a Zinnwald/ Cinovec merger is probably a discussion that's involving a lot of different companies and organisations at the moment, not least the EU, and isn't just an EMH decision. Hence Alex' point about PIs not being the main clientele of course.

The more I think about it, the more I believe we're in a fantastic position here. And yes Malik... I'm surprised too that mainstream investors haven't seen this yet. But I've been in other shares that have languished for ages until one day, for some strange reason, the market suddenly wakes up, sentiment is transformed and the price soars. Quite what combination of public messages/events/perceptions come together simultaneously one apparently random day to make this happen isn't always clear. But it'll happen here.

If we can stabilise around the 18 to 20p mark, that's a lot better than where we've been languishing for ages now. And if (and it's definitely an 'if') there is eventually a placing to raise investee funds, there's no reason why it can't occur at these levels. We've had one at 26p before.

There's too much emotion and too many ulterior motives around this share at the moment. People need to calm down, and realise that the value is ultimately in the exits, which could happen at any moment.

You can tell it's him because he's tried to be clever with the first letters of his name. The fact that some of the NAVs being used are years old is apparently irrelevant. And the fact the real value here is commercial value that should be decided by the market, not an accounting variable, is also apparently irrelevant.

Perhaps it's time EMH issued a 'situation update' RNS, highlighting some of the points I made earlier, in order to coalesce all the information into one digestible lump for those too lazy to do research (the majority?). I do think that the market hasn't quite grasped what's happening here.

Read the section on Valuation Discussion in the earlier link.

As a reminder, and to reassure passers-by that sentiment on here isn't exclusively that of over optimistic bulletin board punters, here's a report from Seeking Alfa...

https://seekingalpha.com/article/4409041-european-metals-long-term-bet-short-term-potential

And by the way, the price of tin, which is our primary also-product and of which we have many, many tons, is soaring.

I was just about to say the same thing. I don't like the AIM as it's full of largely uninformed short termers.

And as soon as I posted that I thought 'actually we wouldn't want to be dependent upon one customer'. But that's ok... there are plenty.

I also forgot to mention that the process costs are very low. (single roast rather than double?)