Member Info for Bridgedogg1

What a horrible day. Spud news….and nothing

All buys, all good. Got to be an opportunity to average down, even with the open offer I’d pick up more.

Moved into SCE today after they did a 66% discounted placing. The management talked about the need to raise funds for a month which made matters worse because the share price was already down 75% at the time of the placing. Exactly the sand happening here. There are no reasonable financing options for AIM companies. 50-70% discounts becoming common place. Sooner this gets done the better.

Bags of Spod?

https://x.com/dogtrader01/status/1786008621718945900?s=46&t=tlq1Bm3_53631l-uJoA5lQ

At this rate we will see £1M traded today and that’s without any large trades. Expect to see some large after hours prints for a few days. I don’t think it will take that long to get through the placing shares, we all know they will be / have been forward sold.

The plant does look impressive I have to say. Been operating for a while and good grades. Needs an RNS, no one is taking George’s word for it.

Must be a fundraise coming

Let’s not forget we are drilling the big offshore prize in Q3. So close now and all coming together.

At 3p

The company is valued at under £10m when it should be over £50m. Uncertainty has been removed but It will take some time to churn the share and have them land in sticky hands, but eventually the value will show.

The Board is however now confident the combination of this £6.5m Placing, the £2m Open Offer and the £13m local authority loan is sufficient for working capital and capital expenditure needs over the next few years.

Surface Transforms already has a secured and prospective customer pipeline for approximately £700 million1 of sales, of which approximately £390 million2 is contracted.

Surface Transforms expect to be able to sell as many discs as it can manufacture.

The Company expects to post a Circular to Shareholders tomorrow, 3 May 2024, containing a Notice of General Meeting, proxy form and full details of the Open Offer including the Application Form.

The Company will provide a live presentation to investors and any other interested parties on via Hardman & Co's platform at 12.00 noon on 9 May 2024. Interested parties can register for the presentation at https://us06web.zoom.us/webinar/register/WN_mUnp-l2KTomKBRFgUhFEow

The General Meeting will be held at the offices of Gateley Plc, Ship Canal House, 98 King Street, Manchester, M2 4WU at 11.00 a.m. on 23 May 2024.

Wow. Thought it would say the rig is on the way, but SPUD!! Excellent!

Its a sahme they felt the need to telegraph a fund raise for months rather than just doing it. Of-course the share price was going to drop. Now it looks stupidly cheap. They have more orders than they can fill, the capx has been paid for, production is about to start to ramp up and working capital is sorted. May take a while for the dust to settle but this should return to the old 25p level which is now around 9p fairly quickly.

Should be first piece of good news in the financials for 2 years. I think there will be increasing M&A in the sector and we know SFOR is in the crosshairs. I don’t doubt it would have already been taken over without the MS veto.

Not about speculative punt. £13m loan for capx. Placing proceeds. Almost completed installation of furnaces to ramp up production to £50m+ revenue. They just moved to far too fast and were forced into the raise at a silly price.

30p

I’m buying now, glad I waited!

10p today

Just in case we get there you should know that you smoke crack.

I think all the critisism of AS is easy with hindsight. This was 17p pre covid. Building out a diagnostics division made perfect sense, if there was another pandemic it would be worth much more than the therapeutics. £50m spent on a business that will be cash generative in 6 months and £21m revenue is pretty savvy. The problem is the therapeutics is draining all the cash. The financial markets are now broken resulting in a undervalued share prices and a lack of any financing on reasonable terms. A few years ago we could have done the raise at a 10% discount, You cant really blame AS for this? The CFO completely dropped the ball on the financing and AS should have realised that he had to do some sort of deal to bring in some cash rather than go for the big prize in the changing environment. Ultimately when this is sold for £1bn because we kept hold f the IPS no one will be saying this is all thanks to AS not selling us out early but the truth is that is exactly why we will be worth so much.