Member Info for Benhowell459

"It's time to focus on moving the current assets forward and deliver some value for shareholders, not looking for new ones. If he can't do that he needs to step down, or be voted off, the next time he's up for reelection at the AGM."

Completely agree. We need to get some kind of consensus around this.

Any way we can put a motion in before an AGM about no new acquisitions and focusing on FB/BR exploration?

Hold on.

Are people willing to accept half the share price that CB said he would tell AA to shove it?

Personally I'd take 7p any day of the week. Been a long old journey..

Andrew, I sincerely hope we get this in RNSs going forward.

A clear, breakdown of our earnings, a guarantee we won't need a raise and a strategy for how to spend the income to generate value for the shareholders would be very welcome.

I very much doubt such a logical and clear method of communication is desired or even possible with Colin unfortunately. We shall see. I keep my fingers crossed.

Gixxer, admittedly he didn't state maximum 65kg but as Andrew has pointed out, his forward guidance seems to be getting lower and lower and just simply less and less accurate.

"We are looking at an increase in production.." means diddly squat. I'm looking at 4 beds in Dulwich, but doesn't mean I'm going to do anything about it.

Like Andy has described, I honestly feel like most of the projects have been mothballed for 12 months. Manica desperately slow to get into pre-production then ramping up, Colin calming up with his gold in the nooks and crannies story again and again, BR completely slid off the radar. It's been 11 months since drilling finished. 11 months for one report! He commissioned it, so the rest of the BOD haven't been doing anything...

Their fees are taking the pi** as well. It's not like they are actually earning their corn and justifying such wages.

He bemoans the economic headwinds but I feel it's convenient and merely an excuse. The market doesn't believe him, his increasingly rare podcasts or unfortunately for us, the possibility of a BR sale. He needs to come out with more progress before the AGM. He and his pals have done very little.

Eureka dropped.

BR waiting for ore concentration results. Results due in Q3. The wait continues on this. "potentially viable"

Kakuye - doesn't sound like much has been done in months. Apparently someone found some cobalt.

Manica at 60kg / month. Maximum 65kg.

Written in black and white that we are 23% profit.

But we only have 190k in the bank. (As of year end)

Sounds like Colin has spent the last 3 months writing this and putting his feet up in Portugal eating pastel de natas. Nice life if you can get it.

Would like some news of actual progress please Colin...

Thanks chaps, much appreciated - will dive in when I have a bit more time tomorrow. Always good to understand what's going on here and this board is invaluable for supporting fellow investors.

Lots of positive comments about the patent being granted, naturally, but amidst the back slapping, my query about the phrasing of the RNS seems to have been ignored or simply labelled as WUM material. God know why. I'm genuinely curious why today's RNS states:

"This is the first patent grant issued to Sareum for SDC-1801 in any territory."

Even today a couple have quoted previous RNSs from yesteryear that SDC1801 has already been patented. How can today's news be the first patent grant if we already have it?

Can anyone explain as I'm confused by this...

"We're delighted to have the first patent granted for SDC-1801...This is the first patent grant issued to Sareum for SDC-1801 in any territory."

Am I the only one a bit confused by these two statements? I thought we were fully patented as Ahfam loved to keep telling us. Or is this just awfully worded by the BOD? This makes it seem like we went into clinal trials without any patent on the d*mn therapeutic!

Andrew, I do hope Xtr are in slightly better condition than the sinking ship that is the UK economy under the leadership of gap year PM, Rishi. Colin may not field answers but Rishi answers differing questions with the same response.

Rishi is hoping to weather the storm, keeping his fingers crossed that raising interest rates will solve everything. Colin hopefully has some profit up his sleeve for us.

I like the analogy that they are both waiting but hopefully we have slightly better fortunes!!

My worry about on-licencing will be how long will it take for the licencee to progress the compounds. How long will we wait, essentially waiting in the dark, for the endgame, IE. Ultimate shareholder benefits?

We have waited a long time for this chain of events to materialise, many here have been patiently supporting the BOD (through thick and thin) for 10 years +.

I personally don't see on licencing of 1801 as being hugely beneficial to us in terms of generating shareholder value. We lose control of our compounds and we have ZERO say on the timelines. Who's to say the buyer won't find another compound that's more intriguing and essentially shelve 1801. Ring any bells?

My overwhelming preference and hopefully that of the BODs is a takeover, lock stock and barrel.

I'm sure they want to see 1801 and 2 progress but ultimately they will want to be remunerated for their hard work and handsomely too. They aren't getting any younger and nor are we...

No news is good news in my opinion. IE. Someone was dosed almost a week ago and they have not died yet / the trial continues.

MTN, I would argue, therefore, that his way is not good enough. Unfortunately he is the Executive chairman of a PLC, IE. He needs to answer to his shareholders once a year. If this lack of any direction or action whatsoever is purely down to his decisions, then he's chosen a mighty odd time of year to go AWOL / choose the inadequate plan of action. I hope he's ready for the barrage of disgruntlement heading his way at the AGM.

62 days since any update whatsoever.

93 days since news about BR

133 days since news about Kakuye.

No news about Eureka - information even deleted from the website.

Colin said they were trucking copper ore to the nearby plant. Doesn't take 133 days to dig some up, drive it there, process it and analyse the results.

3+ months waiting for a study about BR....

Someone on LSE mentioned they might be in discussions and can't release results...doesn't preclude an update on the copper in Zambia..unless it's gone the way of Eureka. IE. Tits up and exited stage left.

The lack of news is frustrating and utterly ridiculous (if he can't get news out quicker or analyse results quicker, he needs to move aside or hire someone more competent).

Great news that we have started but why do they write this?

Full safety data from this trial are expected to be available during the first half of 2024.

Why does every positive news always have to have something that tells investors not to bother buying in just yet. Maybe they should write "No buy out until 2025" in the RNS...

Butlerman, my view appears to be pretty similar to you. I live in hope we have something on our hands here and with the money coming in (to be confirmed?) from Manica, there is hope still (it's the hope that kills you?) for BR to be turned into a viable proposition for a major, possibly AA or another.

I appreciate the effort to get to the AGM, if you can make it. I'm grateful to all who try and hold Colin to account in a sensible way rather than celebrating a falling share price (!) I went to the last one and asked about Eureka - as long as BR doesn't go the way of that project! Completely fallen off the radar and website!

Butlerman, completely agree.

This is why there absolutely has to be a huge amount of pressure applied at the AGM, from multiple shareholders.

Colin will obviously claim otherwise, but there has been a complete 180 in terms of focus on BR, progress, interview frequency, statements RE 2 MT or even decision to mine. He cannot be allowed to say it's been business as usual. The SP indicates that would be a lie and the lack of interviews indicate that would be a lie.

I would like him to be pressed and pressed again for a strategy for BR, a timeline and a project plan as it were to bring about shareholder value.

His words at the last AGM meant diddly squat and we are sitting 70% down with no progress in a year. He has done nothing at BR apart from organise a couple reports...

Jez, our averages and overall number of shares are probably pretty similar. You may have a tad more shares or slightly lower average. Know the feeling. Need Colin to get a move on!

Rather depressing to think we were at 2.4p only 5 or 6 weeks ago and we've dropped 35%+ for absolutely no reason other than due to MM manipulation like today.

A year ago this week we were at 5p. Dropped 65% yet Manica is now producing and we are a profit making company. Makes absolutely no sense whatsoever.

Unless one thinks that 1 year ago there was hope of a BR sale. Now, perhaps there is none?

A new month so I will repeat the old maxim. Sort it out, Colin. This is all your doing so please own it.

On the topic of Dani, I can't think of anything more mental than wishing for the sp to drop to 1p. What is a raise is required at 1p that dilutes all our shares considerably. Reaching 1p could also further crash the sp due to holders just wanting to recoup some of their investments. To wish for such a thing is pure idiocy and will own serve to annoy fellow shareholders. Good luck being listened to at the AGM if you keep churning out utter rubbish.

Don't worry NTM, you'll always get a tick up from me, especially if you mention not being out o'er the weekend! Generally seem quite a level headed poster. You may be onto something about the number of ticks on AIM, but that may have something to do with the overall AIM market performing so badly at the moment...

Interesting reply howezap. Won't speak for EI but can speak for myself, of course.

Naturally anyone can leave at any time but having believed CB's previous forward statements and considered them reasonably genuine, I'm now 50% underwater. The point here is that what Colin says when representing the company matters. Currently many many investors are underwater and that is down to Colin's management of the rhetoric, release of news and lack of adherence to his own timescales.

Second, you state: "What he said was they were expecting it back in 3-4 weeks! In the world of PR that doesn’t mean it would get put out then."

Interesting approach to the use of PR. I would like to see PR as a way of reassuring current investors, enticing new investors and generally showcasing the possible returns a publicly listed company may make in the future. I would genuinely like to trust Xtract's PR in the future, yet you seem to class PR as not needing to be reliable RE timescales. You make it sound like Colin is playing games with us all, or at the least manipulating shareholders. A little bit of honesty and realism would be very much appreciated going forward.