Member Info for Brycen

levi, I suppose they decided to do their placing at a price that works for them and for new investors and didn't worry too much about existing PIs like us. If anything it was PJ who dumped us in it!!! Far more than the new BoD. But that's done and from now on the new BoD have to perform or lose all cred, all hope of ever raising sharehloder funds again and lose their own money.

okenia, I agree I bought into a PJ enterprise on the basis he knows how to play the game, creating value quickly often based on hype, leading to early large gains that are all to often ephemeral.. but if you know that you get out early! That was my plan. But as the new BoD gradually revealed their intentions, then became PERE, i decided to stay invested. It felt like a serious BoD with a solid business plan. I was disappointed at the placing price but if I sell it would still be halved, so the question is where is the best place to invest the remaining capital. I decided PERE is the best place. My analysis is not well informed, based on detailed understanding of the company's proposed acquisition. We could debate the merits and abilities of the BoD but until they perform it's largely speculative. Quite simply, my confidence is based on a positive instinct! PERE feels like it is being set up by serious business people who intend to make themselves a lot of money by running a highly successful commodity company.

Thanks for the explanation okenia, I was invested in WTI so I appreciate what you say. There are too many jam tomorrow companies on AIM, often kept afloat by endless promises/placings... but hopefully PERE is different, it does feel like it from the vibes coming from the BoD and being on the main market. I have high hopes they sincerely intend create profits and pay dividends.

Thanks levi. I was interested to know what others think. I am actually optimistic in the long term but I do expect those of us who invested in the PJ days to have a longer wait than those who took part in the placing... unfortunatelu we have a lot of ground to make up! However, if disappointed PIs sell shares as soon as it is relistedand the price falls, depending on the terms of the refloat I will probably buy more. It is the quality of the management that gives me confidence.

As previously announced, the Pembridge team is working closely with our advisors to prepare a new prospectus and finalise the capital raise. Paul's participation at this stage is a tremendous value add." "...finalise the capital raise." Will this dilute our holdings furhter, especially those of us who paid around 2x the share price before suspension. Or will they raise a substantiak amount by debt finance?

...why our BoD are so far out (100% or so) on their own estimation or where we should be valued around now. Valuing a company with an income that pays dividends is fairly simple but with no income is far more difficult. Market cap reflects what PIs will pay for the shares at any given moment, which right now is disappointing to those of us with confidence in the company's future. For the BOD valuing SML requires a highly speculative guess about how much investors will pay for shares over the next 3, 6 or 12 months for a company whose future is itself highly speculative. The BoD are only human and probably base their judgement on their own view of the future. They clearly have confidence based on their commitment and belief in that future. Is it so surprising their view does not always correlate with the view of PIs who are buying shares at any particular time? Perhaps the best guide we have to the future is notthe BoD's guesstimate about share value at any given moment but how committed they are based on much they have invested?

It'll stop going down when it reaches a level at which sellers won't sell, at 1.75 there is more selling than buying.

Prop and all "...it would seem they covet shares where they can pocket quick profits." All too often a fantasy created by a life style BoD, not here as Lupi says. I\ve been there, constantly chasing gold at the end of rainbows. As to the share price being the market price, you're right. The market price is always what buyers will pay, not what sellers want. My point is the lack of buyers means lack of demand, so the present share price does not reflect the potential value. That's why I intend to hold and until it does, which will be for all the reasons prop sets out.

Maybe the answer is simply that SML hasn't come to the notice of enough PIs and its market cap is too small for institutions? The posters here are mostly regulars who may have all the shares they want. UKOG is a perennial favourite with PIs despite the fundamentals here being far stronger (in my view) but there are already over 100 share chat entries. We need far more new interest from a wider number of serious PIs for the share price to go to where we believe it should. Why has that not happened yet, maybe others here have a view?

The finance comment was one sentence in a long article about Capstone not continuing with digging the open pit mine. It didn't seem negative or to imply doubt It could simply mean finance arrangements are still in hand, details being negotieated. The PERE purchase is still proceeding acccording to this article, see http://www. whitehorsestar. com/News/financial-analysis-doesn-t-support-digging-plan

Thsnks MrT, that says it all. This is a proper business and success won't come overnight. Last May was an unsustainaboe spike, not a true value. 2p or close seems to be a sustainab base from which real growth will be sustainable.

More likely a roll over, the spread is typically small, although the timing is delayed but that could be deliberate to disguise it.

I bought yesterday, a top up and I now hold all I want. I have no regrets although I could have bought a bit lower today. I suspect the the huge mark down panicked a few and the MMs built stock cheaply. For a few minutes it was showing 13% down, now it's 3% ish. That seems like manipulation to prompt selling!

488,500 must be a rollover.

I agree and topped up at 2.4 this morning. I'm sure it won't take much good news for this to look a bargain but DYOR!

Could Upland's RNS today give us a positive indication of how finance could be arranged by our BoD? Uplands game plan seems to have similarities to PERE.

It's not a mistake but sells are greater so the price is marked down. It wouldn't take much extra buying, or a bit less selling, to reverse the trend.

Visual Capitalist today has an analysis of the vital role copper plays in today's economy, with illustrations showing its main uses. It's interesting and reassuring background.

I have decided to think of it as you would a buy to let. The lender gets security, the investor gets all the capital growth. The more funding PERE get through loans not share issues, the better it is for us PIs, provided the terms are not to onerous. This is only possible because of what they are buying. Of course, if it goes wrong the lender have a prior charge on the asset, losses are levered. The thinking here is not the usual AIM raise money, drill a bit, issue stunning RNSs, raise more etc... I can think of 2 maybe 3 immediately who have beein in business like that for years, with the BoD the only winners!

If we paid c 3p we'd have to decide 3p is a good starting point with a promising future. Or sell and be glad we got out without a loss. If it's relisted at less it will be a harder decision. Personally I expect the outlook to be good enough to stay invested whatever price comes back at, but that is speculation.