Member Info for Damocles

I agree with your and Saintpeter7's confidence, but for the sake of settling my nerves, I hope a deal will be concluded before the 21st Jan 2018! We don't know what is going on behind the scenes, but I would expect an RNS before then, and when they do release the details, I think it will be a very interesting read. Like you say, these are experienced people who don't mess around. It's up in the air at the moment, but I've stuck with this for nearly 5 years now, and I'm more positive about the future at the moment than before. Time will tell of course.

Apologies for being obtuse, but I'm pleased you understand it now. My first album was Disraeli Gears, by Cream.

You have to read between the lines.

Yes, I do. I've been here for 5 years now, and I know the poster concerned. Not personally, but just from reading his posts. I can't repeat what he wrote, there would be no point, but I respect him. I'm not selling.

A well respected man. I love that album.

No, you can't. It was here though, and well, there you go. Don't worry.

We might be surprised before then. Like you, I'm sticking with this. There was an interesting post on here two days ago which I recommend! DYOR, lol.

Yes, I would imagine it will be something connected to the retail sector, given that's the area of expertise of the current BOD. It's funny at the moment, as I'm invested in another gold explorer that is passing on it's mines and currently performing an RTO of a successful internet ladies clothing operation, so for me to have holdings in two companies at the same time transferring from gold prospecting to the retail sector is not something I imagined when I first invested all those years ago, assuming retail is the path SMA is travelling down. Like you, I'm intrigued about where we are heading, and certainly not phased by it. India, as you say, has huge potential for growth, and I'm confident that whatever transpires, our BOD have the knowledge and expertise to select something that has huge potential.

I'm not expecting a miracle. They rarely happen on AIM, but I invested in SMA five years or so ago, and the company showed real promise back then. It's irrelevant now given the new direction the company is heading in but we had the backing of the government, a large area of land sandwiched between two major gold producing areas,and the first JORC, while not spectacular, was certainly promising. 600,000 ounces of gold from 8% or so of the land. The geology of the land Volcanic are now exploring is as promising as ever, and there are millions of ounces of gold there, but, ultimately, SMA ran out of money. It coincided with the ebola epidemic. Some major gold producers were invited on site, possibly with a view to a joint venture, and they reported Mandiana would be a tier 2 operation, but everything ground to a halt when the epidemic struck. Forgive me if I'm wrong, but I can't help thinking you work for Volcanic as I can see no other reason why you would find yourself walking the ground there. It's a bit of an odd location to just wander into and report it on here. If you do or don't, it's nice to know the area is now being properly explored and the prospects of the concession will be realised.

I'm not at all phased by the change in direction. I'm an accountant by profession, and one thing I have learned over the years is that successful business people, within their sector of experience, and we have a very successful BOD on board, are very adept at recognising new opportunities as and when they arise. Like I wrote, I'm intrigued by our prospects, and as you say, progress for the company will certainly be more measurable than drilling holes in the ground.

A strange feeling of deja vu today reading the RNS. I'm invested in numerous mining companies, some doing well, others not, but one recently had a change of directors after the previous BOD resigned. The existing gold mining concessions are being sold off, and shares were recently suspended after the company announced an RTO with an online ladies clothing operation. It's quite a change in direction, but one that looks positive as we wait for the deal to be concluded. With regard to SMA, I have a large holding, and I am staying put. I'm not at all downhearted about the direction the company is heading in. The reason for that is quite simple. The calibre of the current BOD. They will take SMA forward and in a few years time, well, who knows what we will be as a company but it will be a success whatever it is. Given the track record of the BOD in the retail sector it shouldn't be a surprise to see SMA in that area. It is a surprise it's in India, but they will have seen an opportunity in an emerging economy that is well worth pursuing. There are no guarantees of course, but I'm intrigued at the moment about where we are going.

a pile of crepe! Just saying.

I agree. There is still plenty of time left and the current BOD will have been working to secure a deal. With their track record, I don't doubt we will soon have good news. I'm still positive.

Codders is now living in Hope! A very nice place in the Peak District I will add.

Or should that be half a pea.

Going down and finding it's true level. It'll soon be worth less than half a pee.

I'm not moving on, I'm just letting this go. I haven't taken up the offer, and as I understand it, my shares will now disappear into history. It that's incorrect, my shareholding will be so small it won't be worth worrying about. Last Friday, I tried a test sell, and it was pitiful the amount I would receive. I knew it before I went online, but it was still a chastening experience to see it confirmed. No, my days of investing are over. I had four, soon there will be three, one of those is a shell, and two are doing well. I'm lucky that I put some funds into Marl and Solg, which has netted me a nice paper profit so far, but I'm so unimpressed with everything I've read over the years now, not just on here but with lots of other companies as well, I don't think it matters how much research you do, you never know the real motivation of those running the shows you invest in. It's a bear pit, and as for horrorgen, well, Tattoos are very popular at the moment, and £3m can buy a lot of parlours, LOL. I wish you well. You've kept me entertained with your wit over the years and I've had more than a few laughs reading your posts. More than a few cornflakes have ended up on the floor over the years!

Well, there you go. Another loser on the short road to penury this share regularly delivers.

Someone has just splashed over £91K on this. That has been followed by some more large purchases. As a LTH, there is no value in this whatsoever and I'm giving it up as a loss. I have, however, been racking my brains trying to understand why some people now see this as a good gamble. Maybe I'm missing a trick, or just being a bit thick, but what is there to gain from such large buys? If I had £91k to invest, I wouldn't be putting my money in here, that's for sure. I know better companies than this one.

They've given up on all the projects. The thing is, and this is the point that annoys us long term investors, the directors were paying themselves a very pleasant remuneration for doing nothing. They basically took a tea spoon to make a few scratches, and paid themselves hundreds of thousands of pounds a year for their efforts. Remember their names, because they will will return in the not too distant future, and give their new company a very large swerve, because their only interest is lining their pockets. All those dilutions were only completed so they could continue paying themselves ridiculous amounts of money for diddly squat!