The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
The Admin email address should be good enough.
I sent a query there in March (Sat am) as the 'contact us' function on the website did not work for me (there was a site issue) and I received a reply from Puruvi Poddar (direct email) before 9am on the Monday morning.
The Admin address, Shishir and Chetan Solanki were also cc'd in the reply
Disagree Lav.
This deal and the requirements has been known by the markets for months.
The only need for an ENS is for
1. A further extension of long stop
2. Completion and receipt of cash
3. Deal cancelled
Any step along the way is expected progress and does not need to be updated to the market.
PI's playing detective always think they are 1 step ahead of the game with things like this. They are not
Why the need for an RNS?
The re-registration, sign-off, etc is expected news, everyone knows that this is what is happening and we have been informed multiple times over the past few months with the extensions.
No need for an RNS at every step along the way until everything is complete and to confirm the funds transfer (imo)
gla
Like many, I am not happy with the rate of progress here, or the lack of transparency from the bod, but to state as C909 does that " it could be the idiot cfo forward selling his ltip shares" is one of the most disingenuous things I have ever read on these boards.
It is 100% guaranteed impossible that any member of staff could be forward selling any shares not actually awarded, or potentially due to them under any company scheme.
The FCA and HMRC would be very interested in anyone trying to do so too, not that the company would sanction anything under the terms of Director dealings.
Cue a handful of very rare exceptions of Director share dealing abuse being held up as 'proof' that this activity goes on all the time.
I have put up with C909's mildly amusing (but boringly repetitive) posts for too long now. Time to filter as he is just a bitter PI not able to take responsibility for his own investment decisions. Understandable, given the profess here vs expectation maybe, but there is a limit to the non-stop whinging I can take.
Presumably, the suspension will be lifted.
This will likely result in a drop to a new level and the Directors will continue their efforts to 'extract value' for shareholders who have no real option but sit and wait, or Sell for massive losses.
The company will no doubt bounce along for as long as is possible and venture into some currently unknown direction in order to delay the inevitable.
Painful
Terry is just another self proclaimed saviour of PI's.
Doom mongering on multiple boards and only his opinion matters. According to him.
He is always right too. Also according to him.
Filtered
gla
Will await the release of production figures in due course today.
All these Q&A responses seem to reveal is that those who take a more conservative view, together with the so-called derampers doom mongers and activists (as the diehards keep calling them) are still calling this more accurately than the bod and the board experts on here.
The bod are still over promising and under-delivering and being generous with the truth in terms of timelines, costs, etc with everything taking longer than expected by the bod, or not quite achieving what they outlined as conservative expectations.
No wonder the SP is dropping, still little to no trust in the market for ANGS and lack of transparency in what is actually going on.
Same old
gla
When the SP goes down on news it is always MM games.
Nothing to do with the implication of the news then, the disappointment clearly shown by the market and investors for yet another delay to completion of the transaction to secure funding?
"The company is worth no more and no less than it was yesterday, last week, last month"
Well it clearly is worth different to yesterday, last week, last month, as the SP just in the last month has had a high of .75 and a low (right now) of .465 with a downward trajectory to boot (circa 50m change in mcap)
I don't get these 'reassuring statements' from posters when the evidence is clear.
The markets have spoken. The potential, the assets in the ground are currently worth what they are now as there is no money to realise them, and it will stay that way until funding is secured.
This drop is nothing to do with MM games, the go-to cry of investors (gamblers) whenever an SP drops on news they do not like.
This news has pretty much been telegraphed since the first extension at the end of April.
Trolls trolling expected
PI's losing their sh*t and this board turning to carp expected.
Die-hards claiming a perfect top-up opportunity expected
Time to switch off this board until news
gla
gla
Give it a rest PD101
Trying to create dear and telling everyone on PREM to get out before a suspension and trying to create a false picture of buying activity here.
All under the usual guise of a 'helpful and concerned fellow investor'
So transparent.
Lowest of the low on thee boards
Lav,
You posted "good luck finding an explorer in lithium going into real production before 2025".
But this deal (and the 19/01 RNS) states they expect to be operational within 12 months from receipt of funds and the expert posters have been telling everyone this definite timeline for the past 5 months.
Some posters here have also been saying the extension (twice so far) is not a delay (yes, it clearly is).
So, are you now saying that even if the deal is confirmed in July it will be it will still be 17 months or more until production, and not the 12 months that the company is stating from completion - effectively a minimum of 20 months later than the expected date from the initial RNS announcement suggested (using 30/04 as the target completion date) ?
But not a delay in production according to some.
I expect the same cries as with every similar company I have come across in the last 6 years on these boards - We have waited this long, another week/month/year makes no difference. It does. Always
I like the optimism, but I really cannot see a 100% rise on funding news.
When the SP was in the high 70's, my conservative target was 90-100 and still feel it will be around that ballpark if this gets back into the 70's ahead of news.
From a starting SP in the 60's, my target would be closer to the 80-90 figure.
As always, hope to be proved wrong, but just wearing my conservative hat and basing my position on past experiences elsewhere.
The SP held up reasonably well on both previous extensions to the long stop with this current drop due to other factors, but I also feel a further extension will lead to a drop this time around.
Hopefully, we will get some good news before the end of next week, but I expect another extension as do some others here.
gla
Good luck to you.
There are many here with high averages, see the potential and are frustrated at the time taken to progress (like myself).
Attractive SP now of course, but current exposure coupled with a lack of transparency (thus far) make averaging down too much of a risk for me.
Good to see the Italy RNS, perhaps a sign that a corner is being turned. I will reserve judgement until end of 2023 to see what news elsewhere.
Volumes still pretty low here, so still no real sign of sentiment changing as yet
gla
Apologies, quotes from article in previous post not relevant.
from the article:
Chile and the European Union will sign a memorandum of understanding (MOU) soon to develop value-added lithium projects in Chile, Ursula von der Leyen, president of the European Commission, said on Wednesday.
Speaking to reporters in a joint press conference with Chilean President Gabriel Boric, von der Leyen said the two parties reached an agreement to develop a strategic association to develop lithium and strengthen supply chains.
Interesting news. Thanks for posting
"Both leaders also announced new projects that are part of a green hydrogen initiative between the EU and Chile. A "Team Europe Fund for Renewable Hydrogen in Chile" initiative will finance new renewable hydrogen projects in Chile.. The fund will have more than 200 million euros, mostly financed by the European Investment Bank and KfW, which will be managed by Chile's state development agency".
Many thanks to those providing updates from the AGM.
Seems odd that they highlight the SP (MCAP) as 40% higher than similar companies, but try and justify that their high salaries are based on potential not reflected in the SP. Seems contradictory. Isn't it more likely based o the current SP/MCAP that potential IS reflected in the SP when compared to their peers?
News about planned move into India also announced, possible after hours yesterday?
"Tesla CEO Elon Musk Tuesday said he had a "very good" conversation with Indian Prime Minister Narendra Modi at Lotte New York Palace in New York, and that the electric vehicles maker will try to be in India "as soon as humanly possible".
https://www.reuters.com/world/india/musk-says-tesla-be-india-as-soon-humanly-possible-after-meeting-modi-2023-06-20/