Member Info for David7015

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.

Apologies- share purchase price was meant to be stated at £2.37/ £2.38

So RWC Asset Management are the largest institutional investor on the share register now at 4.73%. Shares purchased at around 37/38p on 9th February.

They won’t be wanting to see much further drifting in the share price.

I wonder if Silchester International Investors have been building up a stake like they did with Morrisons?

Looking back on the recent RNS history of MKS, I notice that there was a holdings declaration on 12th February which does not appear in the “Live RNS” heading

https://www.londonstockexchange.com/news-article/MKS/holding-s-in-company/16329064

I have set up RNS alerts for all companies in which I own shares and this RNS was delivered to my email address in the usual way.

The company acquiring the shares is RWC Asset Management and there does not appear to have been a previous notification according to the form submitted on 12th February.

A new holding of just under 5% is excellent news, especially as the financial press are talking about potential interest in MKS.

Just don’t quite understand why it hasn’t been logged under all the other RNS announcements on this page.

Massive

We winter every year in Phuket and will only travel now on the Airbus 380. As quiet as a mouse Means that we have to go via Dubai.

Good morning

Yet again I see that two of my posts which are neither hostile nor confrontational have been removed.

Each time I have posted, I reiterate that I am a LTH here, but it is not enough for some people on this board who just have to report me. And to think that my grandfather was killed in the Battle of Britain fighting for those freedoms which we now take for granted.

No point much bothering with this BB whilst I am in the cross hairs of those posters who seem offended by my comments

I agree that this is a stonking buy at these levels. You will see that I have opened up a new post rather than run the risk of replying to yours and having your comments deleted as well

All the best

Rebster

Nothing wrong with a good healthy debate. We all have our own views to articulate

All the best

Thanks Warthog. Whatever was there in my last post that could have caused such offence to those that judge these matters.

Surprised that no trades are showing on ADVFM this morning

We are all confident of a successful outcome in the testing down under although no data has been released

What I find difficult to understand is that the directors must have a feel for how everything is progressing yet have not stepped forward with any personal share purchases.

With the share price now so depressed, would this not be seen as a sign of confidence in the company?

Quady et al

Why do you bother to engage with 1984Investor. You all clearly disagree with the statements he makes. I accept that you are all entitled to a point of view, but this BB is titled SOLGOLD

Very little of last night’s commentary relates to Solgold as it enters, possibly, the mst important phase of its existence. The share has been on a steep downward trajectory since hitting 12p a few weeks ago and could well go below 6p in the next few trading days.

Then we have the matter of director Mather who has probably seen his personal fortune eroded substantially over the last few years, not helped by his belligerent attitude to BHP. Then you see him at the AGM spending most of his time on his mobile phone.

I now believe the only way out for small investors is for the share price to drop to 3/4 p. Hopefully this will encourage an auction amongst BHP and the other mining conglomerates to take our Tier 1 asset seriously. Not sure how much cash is left but at some time this year, if we are not bought out, we will have to raise more capital.

We certainly cannot afford to have a slow death with the share price dropping slowly over the next few months. This is probably what BH wants to happen. They will then pick up the Solgold carcass for pennies.

Meanwhile, please let us debate the survival/takeout of Solgold on this board and leave those subjects, upon which a number of you are determined to have the last laugh, to another forum

Carrington: just can’t work out what is causing so much downward pressure on the share price given what we are hoping to see in May when the full year’s accounts are published. What snippets of information that have been published, including Barclays reiteration of £3 per share, are all good yet the share price continues its inexorable decline

Much further and I believe MKS could become a bid target from a private equity fund looking to maximise the potential from the food side of the business.

It seems that RGO.LSE is having as tough a time as Sareum is, judging from its share price destruction over the last 12 months, mainly as a result of disappointing Investments. Share price has dropped from 0.8p to 0,3p in 12 months. NAV has just dropped to 1p so the share price is trading at a significant discount. M/V is now just over 2M

Just wondering what the position would be with Sareum if there was a further deterioration in RGO’s fortunes. Not sure how much finance has been committed to the companies they have lent to but I know Sareum has £5M agreed

I have been a shareholder here since 2012, and hope that the science will come good and that all investors will be appropriately rewarded.

I still believe that the directors should have tried a capital raise from shareholders rather than a loan facility from RGO which has led to a substantial reduction in our M/V

Price now is back to where it was in November 2023. The Christmas trading figures seem to be totally discounted now and seem to count for very little.

Share price has steadily fallen since results day. I accept other retailers share prices are also under pressure but this correction is pretty severe given the likelihood of excellent full years figures in May. A couple of institutional investors came on board at end of October & November no doubt with higher expectations of share price performance than is being evidenced

Https://uk.advfn.com/stock-market/london/sareum-SAR/trades

Bluedreamer: I, like you, have no knowledge of their financial status nor commitments.

But, they have both been in and around pharmas for 30 years plus. It is more likely than not that they have been successful in this area of their expertise. It is therefore more likely than not that they have received fair remuneration for their work.

Both men are likely to be in their 50’s. It seems inconceivable to me that in generating income, they have not created some wealth for themselves and their families.

I also live in Cambridge.

Totally agree Kat. This is completely the wrong message for the directors to send at this particular moment. Each director’s share purchase is worth approx £30K and I find I’d difficult to believe that neither director can lay their hands on this amount of cash to fulfil the share purchase obligation.

On an entirely separate matter, the RF financing has cost SAR £25M + in loss of market value - all for a £5M facility which might not even be fully utilised.

All very disappointing really