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Nicely, your posting makes no sense. You are substantially down on your purchase price but think it will fall from 27 p to 20p
You should sell, if you feel this way unless you are simply seeking attention with your contrarian forecasts. Perhaps you should be posting on ADVFM as you might find more support over there.
Could really do with a short message from M & S providing a brief trading update ahead of full year results next month. Share price is surprisingly weak given reports of very positive trading
Accept there are macro issues which will have a bearing on the share price & market confidence generally
Fort: I don’t see this in quite the same way as you. At the moment Stackhouse is under water with the previous options although may still make a handsome sum of money once the final chapter in this long running saga is written.
If had purchased 3M shares at close of business today, (at less than the strike price of his latest options) we would be applauding him knowing that some very good news was coming our way.
I look at it like this. If Stackhouse is going to make some decent money from his options, then so are we. That’s good enough for me. The fact that he hasn’t paid for his 3M shares is purely academic as far as I am concerned.
There is nothing illegal here. Just opportunism & greed - Like in most of the Small Caps.
As for the next AGM - is there even going to be one?
Does anyone know whether the introduction of Sareum to Riverfort attracted a commission payment of any magnitude. If so, has it been disclosed and which party, if any, benefited from such an introduction. I accept that a commission may not have been paid but introducers, underwriters etc all receive some payment for their work. That’s how it usually works in finance
Thank you Quady for your response. Last night, Novicehunter stated as follows:
“Have you guys seen the TSX price this evening ? I think someone is having a tin bath with us here so expect all of today’s losses back tomorrow and some icing on top I believe”
I couldn’t see the price rise that Novicehunter was alluding to, so thought I would check his source.
What I don’t really understand from all this is that we have been able to complete a capital raise at 10p when the share price is around 14p when the company is in a much worse position
When you consider the discount this offer is to the share price, why on earth could we not have had a raise when the share price was 100p. Surely we could have got that away at a higher level than 50p.
Parker has to go in my opinion. No credibility left at all
After seeing a multi million pound drop in his company’s market value, the CEO, Mitchell is putting in £5K towards the fund raise. This is a man on nearly £200,000 per year salary.
You couldn’t make it up. Absolute disgrace. Sell some of your shares and inject the proceeds into the company by way of a director’s loan.
Aberystwyth: I share your pain in holding for many years believing in the science and directors expectations. Unfortunately, whilst you and I might try to take some positive steps by reducing salaries, particularly in light of the very supportive comments on this board to provide some bridging finance, this is AIM where survival of directors and large pay & rations seems to be more important than anything else.
Give the dire state of Sareum’s finances, the directors are probably already in the life rafts looking for another pharma to take on their life’s work. This will only happen if a takeover is tabled which will require shareholder approval as all assets & patents are owned by Sareum Hokdings Ltd.
So the directors are not compelled to take any remedial action as there is little risk to their livelihoods. But, they need to issue a statement very soon providing a meaningful update, or the share will continue on its downward trajectory, particularly with Riverfort continuing to unload shares into the market.
Jima: I think that your point of view is evidenced by the substantial number of purchases over the last few days. A large number of people believe that the short term finance will either be put in place or an opportunist bid could be made.
Any offer for the company would have to be disclosed by RNS. In fact after the last RNS, the directors should be notifying any material news relating to to company’s finances by RNS
Andy
You are right in that the directors could borrow money but any loans would probably need to be taken in their personal names, secured against their homes. I do not believe that the directors have any great personal wealth with which to bail out the company even on a temporary basis.
The last share option excercise was funded by sale of shares to take up the new issue of 95040 shares - not a huge sum of money.
The immediate answer to the funding problem lies in directors selling at least half of their shares and injecting the proceeds by way of a directors loan into the business. Then obtain agreement for a fresh batch of options to be awarded which will be at a much lower price. So they will have the opportunity to build up a decent number of shares.
I cannot believe that large pharma isn’t already looking at buying out Sareum. But these people are like vultures. They see weakness in the share price and wait for further weakness before pouncing. They will know exactly what compounds Sareum has and will want them at the right price.
I just hope big pharma haven’t already made representations to the directors offering large salaries, benefits and share options. When you see the offers made personally by private investors on this BB, to financially support Sareum it is extremely humbling and I hope the directors will take the opportunity to support them by quickly injecting funds to see them through the next few weeks
Presumably, the intellectual property rights and research material, patents etc is owned by the company and will have a value to a pharma wishing to take this forward, as they will surely wish to do. It would be a travesty if 13 years of research was abandoned.
I believe someone like GSK might be prepared to provide some financial assistance, given the potential that lies in the drugs. As someone mentioned here, this morning. £15/20M is nothing compared to some of the big pharma research budgets. I presume other people feel similarly, hence all the buys.
The BOD must have been aware of the death spiral finance facility that Riverfort provides. Sareum weren’t their first client and GDR’s share price, to name one other, suffered as well. So who was responsible for the introduction to RGO and was any commission paid to a third party as is usually the case. What was director Parker’s role in securing this line of finance. We are told that he has a city background so doing some research on RGO would have raised a number of red flags.
We aware told that a traditional placement would have only taken place at 20p. How to the BOD know this and with hindsight that would have been better than the mess we are in now.
There is no doubt that the directors have been naive in their understanding of capital markets and their actions have destroyed over £50M of the company’s market value.
I am not hopeful that we will be able to borrow money on decent commercial terms. All we have is jam tomorrow. I have said this before, but the directors need to inject some cash into the business for their own share sales to tide us over
By all means, sign up to new share options to replace those recently awarded, but even those are now under water. The directors need to take pay cuts as well. If they don’t then they are showing no leadership when it is desperately needed.
Ajithoth - the directors had sell shares to take upstage last tranche of options. They probably don’t have the money to purchase shares. They need to make some sacrifices or the company will run out of money leaving them with no legacy at all.
I know what I would do
I believe the directors should consider selling up to half their shareholding so that up to £750K can be injected into the company by way of directors loans. This will send such a strong message to shareholders and allow time to arrange other lines of finance.
If they do not do this as a measure of good faith, then why should shareholders support a possible cash raise, should one be proposed
I just do not understand how the directors passed the examination of the AGM so easily given the Riverfort debacle
I posted a few weeks ago about the deteriorating financial position of both Sareum & Riverfort
I questioned whether the situation might make a further drawdown of the Riverfort facility very difficult.
This post was removed for reasons I still cannot fathom.
It makes my blood boil that the inflated directors salaries of £500K are being financed from the Riverfort facility.
If Sareum cannot raise finance to continue, this could also bring about the demise of Riverfort who are simply loan sharks
Let’s hope there is a pharma on our radar who might still be prepared to make a bid. It won’t be what we hoped for but it will get us out of this mess - brought on entirely by our board of incompetent directors , who should immediately take pay cuts. They should also consider selling some of their shares and injecting the funds into Sareum as a measure of good will. It won’t happen though.
The science is good and in a few weeks we will have further results. Just a question if we can survive until then.
Communiqué Chamber of Mining of Ecuador
At a crucial time for the Ecuadorian mining industry, President Daniel Noboa Azín led a series of strategic meetings during the World Exploration and Mining Convention in Toronto, Canada.
In collaboration with the banking giant BMO, a meeting was held with investment banks interested in Ecuador.
At the meeting, which was also attended by authorities and partners of the mining companies of the Chamber of Mining of Ecuador, the president commented on the conditions in which he received the country, the lines of government, the ways in which it is facing organized crime, and the plans to make Ecuador a safer country and thus more attractive to investments.
After the meeting and with the presence of the ministers Andrea Arrobo, of Energy and Mines, and of Production, Foreign Trade, Investments and Fisheries, Sonsoles García, the signing of six investment agreements was carried out that represent a joint value of more than USD 4.8 billion, which represents an unprecedented milestone for our country and reflects the transformative power of the mining industry.
This signature represents a testimony of the mutual interest of both the Ecuadorian State and investors in developing sustainable and responsible mining projects.
The investment commitments were made through notable projects in the mining industry.
Among these projects are: Cascabel, led by Solgold and signed by Scott Caldwell; Crabs, by Lumina Gold, represented by Marshall Koval along with Diego Benalcázar; La Plata, from Atico Mining, subscribed by Alain Bureau; Cóndor, by Luminex - Adventus, signed by Álvaro Dueñas; El Guayabo, from Torata Mining, under the signature of Sergio Rotondo; and Bactech with representation by Ross Orr.
These collaborations represent a significant commitment to the growth and sustainable development of the mining industry in Ecuador.
These agreements not only lay the foundation for future negotiations, but also demonstrate a shared commitment to economic growth and job creation, while addressing concerns about environmental and social sustainability.
Ecuador's participation in PDAC 2024 not only marks a milestone for the convention, but also establishes a new chapter in the sustainable development of the country's mining industry.
If the share price does fall to £2, which is a possibility, in the absence of a trading update, then expect some corporate activity , whether in the shape of institutional buying, or a takeover approach.
MKS have hugely improved their business over the last couple of years. Footfall appears to be on the increase, except February, due to bad weather. There is still a lot for management to do, particularly on the clothing side. More new customers are trying their food and there are hundreds of petrol stations that have M&S Food.
I believe it is the 10 week news vacuum until full year results which may be driving the drop, which I hope is temporary. One certainty is that I will be buying more shares if the price drops much further
Https://www.dailymail.co.uk/news/article-13125027/marks-spencer-UK-favourite-supermarket-survey.html#:~:text=Marks%20and%20Spencer%20is%20the%20UK%27s%20favourite%20supermarket%20%2D%20even%20though,score%20of%2076%20per%20cent.