Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Am not surprised at all, its normally deadly silence regardning RNS releases.
With the new auditor being passed and the biggest 4 shareholders voting it through eventually, and the resignation of one of the BOD since, I was hoping we would have had an annoucement of some kind..but nothing. If just for confirmation that the 4 biggest shareholders were now calling the shots...and to nulify that useless BOD.
Anybody find it odd, we have never had a media interview or any written interview from the present BOD or CEO..silence..in fact the last one I can remember was when it was Range Resource and Rory Scott Russell was CEO in 2014!!!!
They alway say never invest in Austrailian mining companies!!
The only way you can exit here is keep averaging down (if you can afford it of course) and get out a spike which comes along. Don't wait til the end of the day on it either, as often it will be a pump/dump during the day.
Unless something comes out quickly, this will probably go back under a penny again.
"Gu is no loss, he's done nothing for STA in his time."
Hopefully the other numpties on the board, who have done likewise, will get the boot
"And if they do lets hope the partner has a massive say on the drill location. "
Was it proven that EOG changed the location of the Serenity drill, anybody?
np :-)
"Any thoughts on how pursuing one of our major shareholders through court will play out? "
Complicated isn't the work. STA won the case against LandOcean, and from what I can gather, didn't pay, then did pay some back in chunks (not all). STA were using Dentons to persue the rest through arbiation, but the relationship between Dentons and STA broke down, as below
05/12/2023
https://www.lse.co.uk/rns/STA/termination-of-conditional-fee-agreement-w1q9vjle5gl6cki.html
This is when the c*** really hit the fans, and must have been the tipping point for the 4 major shareholders, resulting in voting down new auditor, before passing it in Feb 2023.
Been a right S show. Enjoy the RNS reading LOL
Am going to presume, this may have been part of the deal to pass the new auditor.
This is 19/12/2022 - when the resolution for auditor failed:
https://www.lse.co.uk/rns/STA/update-on-gm-accounts-and-suspension-of-shares-iaoiy8hx25ru0yz.html
Inbetween these two dates, am going to presume that some/or all of the 4 major shareholders, voted down the above resolution (due to share performance - lack of action...etc)
1 Beijing Sibo Investment Management LP 24,476,210 16.22%
2 Preceding Max Ltd 23,561,326 15.62%
3 LandOcean Energy Services Co Ltd 17,390,770 11.53%
4 Sramek Biodynamics Holdings Limited 15,365,998 10.18%
31/01/2023 - when the resolution for new auditor passed
https://www.lse.co.uk/rns/STA/results-of-general-meeting-jwbcp9spvnn51pp.html
The four 4 major shareholders, must have been giving reassurances (resignation of board members), change of direction, or whatever, before passing the resolution on the 31/01/2023.
Been a power struggle between some of major shareholders and the board for a few years now. Remember. also we were taking LandOcean to court, who presently hold over 11% of the company.
Present board have been useless (like obviously the ones beforehand), so might aswell give the major shareholders a go.
Nowt to lose for us well under.
"0.10 (6.25%)"
Forgot to add, can't remember when I've seen the spread on this share so narrow as the above.
It's normally about 15-20% or higher...so that makes a change
"Be nice to get some news on some action though"
Action..you got action!
See the sad seller who keeps on selling in pennies...6.58p at 11:32...then they come back and sell to the value of 1.2 of only 74 shares at 11:46!!
It's like someone is stamping their feet in anger at this share.
Realistically though, the recent passing of the new auditor had to go through the marjority shareholders, who intially told STA where to get off with their choice. Not sure what reassurances were giving to get it through, but whether it is some of them on the BOD or change of tact, suspect we will find out.
Been like that for weeks.
No point launching anything, if a potential customer looks at the website and they see a ''that page can't be found' message. Need this page filled, before launching anything.
Think your dreaming on that one.
Amazed that this hasn't went down big time over the past few days, which was normally the case.
Hopefully some LTHers have managed to get out over the past few days, if they have been averaging down over the past few years.
Must admit, the person who predicted 5p by the end of today made me chuckle a bit.
has returned...selling shares in the pennies. Transparent isn't the word. Sad g**
Not sure whats going on here.
Bit of background
Star Phoniex couldn't get their annual accounts through as it was voted down by aggressive shareholders, which am presuming were Beijing Sibo (16%), Preceding Max (15%) and LandOcean Energy (11%).
LandOcean Energy, they have been taking to court, due to monies being owned..long story.
So looks like the 3 above have now waived through appointment of the new audior, which got this share reinstated on AIM.
Now, we have to wonder, what promises were made to the 3 above to get them to pass the new auditor, postions on the board, new direction. Something must have been promised, otherwise they would have just voted it down again.
AJ Bell all good now
AJ Bell "unable to get live quote"
LOL
Thanks, much appreciated.
Someone just bought 5k worth at 2.11 or so, gonads of steel
Got to laugh at a few investors dropping the ole '1' signal. LOL
Said at the time, that someone was buying when it was going into suspension, probably someone inside, knowning it was coming back. Only way to make money in the company.
"I'm not invested but have this share on my watchlist."
Hope you don't mind me asking, why did you have it on your watchlist?