Member Info for Deadcyclist

Is there any chance that there will ever be a regulatory investigation of the entire board of directors including Mr. Bonnar (who would like to be seen to be above this sorry mess) but all must share in the responsibility for this debacle! Someone (actually lots of the directors) should be held to account....resigning as a director should not be seen or used as a means of avoiding responsibility. Or Will it be the usual story of Ordinary Shareholders being shafted while those who should have discharged their fiduciary duty towards shareholders actually merrily collected directors fees for the fantastic job they did destroying a genuine business. As I mentioned in a post over 2 months ago, the smart people in this whole saga appear to have been the Nels who sold their shares at reasonably good prices in comparison to where it has all ended. Is there a process by which a formal complaint can be lodged against all those who held directorships at any stage over the past 18 months (including those currently on the board)?

Don't trust what is being posted on bulletin boards......... well that is rich coming from the CEO of a company that lost its Nomad ...has just been suspended and has managed to wipe millions off the market capitalisation........ we have not been able to trust what the company and its directors have been saying either! If you were a short seller of SNRP rather than a gullible shareholder like me (who believed the story trotted out by the Board for many months) you would have done spectacularly well indeed!

Did the GM not take place today? That seems very unusual as one would expect that shareholders would have had to be officially informed/notified and sufficient time given to shareholders to attend if they so desired! Does the fact that the company does not now have a Nomad mean that notification cannot be noted by the London Stock Exchange? If there is a GM will the company be in a position to issue an RNS following the meeting? It really does appear that this company is being run by Directors who are inexperienced and/or trying to secure the assets of the company without due consideration for their fiduciary duty to shareholders.

I agree....no company with any common sense would take over a 'Basket case' like this with such 'Muppets' in charge! I am afraid there is a long road to travel .... more pain and suffering for Private Investors before there will be any light at the end of the tunnel (even if the tunnel is full of coal)!

Thanks for the clarification. I had heard a rumour a few weeks back that SNRP was planning to replace the Nomad once the meeting at the end of the month had been concluded and the company had unveiled its new strategic initiatives. Maybe the Nomad heard the same rumour and decided to resign instead? The lack of any meaningful information coming from SNRP is very frustrating. It is a real lesson in the way a board can virtually do what it wants without any accountability to Private Investors.

It looks like we will have to get some picks, shovels and some sacks then head off to South Africa to dig the coal up ourselves if we are to salvage anything from this investment! Any takers?

Looks like we will need to get some shovels and sacks and head to South Africa to dig the coal ourselves if we want to salvage anything from this investment! Any takers?.

Did the Nomad resign for non-payment of fees? Where did you hear that?

Where did you see the IPP reference?

With SNRP expect the unexpected!. I have suspected for some time that Private Investors have been set up as the senior management and new large shareholders battle it out for control of the valuable assets (possibly being set up for an MBO for a ridiculously low price). There has been very little consideration or attention given to the provision of good quality information for Private Investors in SNRP for a very long time. That is unlikely to change for the immediate future. It looks like the suspension and resignation of the Nomad is just more evidence of the boards inability to discharge their fiduciary duty to all shareholders (rather than just select 'insiders').

Is this the case with SNRP? In hindsight it looks like the Nels may have been the smartest guys in the room....having sold all their shares at a decent price they could probably buy a large chunk of the company back for a fraction of the price. The directors and management team's incompetence over the past year has been incredible ... given the quality and value of the asset involved.

I understand that there will be an after hours announcement. Does anyone know if the suspension was called by AIM or SNRP?

It would not surprise me if there were some key players in the know for quite some time ..... lack of good quality information has kept this share price depressed for quite a while and some large transactions went through (often after hours) at low prices. If it is a takeover bid at 25p it would be very good news indeed! It would still be interesting to see who has been accumulating large share blocks over the past couple of months.

I think this crazy price move is a temporary blip as I think a downward price movement (not sure why it happened) caused some CFD a/c holders to be automatically 'closed out' further driving the price down into a 'Tailspin'. This price drop certainly plays into the hands of those big investors whom I think are mopping up shares at a massive discount in advance of new strategic initiatives to be announced following the meeting at the end of this month. I would love to know if the directors/senior managers or anyone connected with them are mopping up shares at these prices or are selling in a panic! - if only we knew we could follow the lead of those really in the know about what is happening in this company. It certainly looks like the small investor will lose out in the short term if they have to sell out at these prices as this company has got to be worth multiples of its current market capitalisation!

Someone is trying very hard (and successfully) to date to depress this share price....with the previous management team replaced with new experienced personnel and major announcements in the coming weeks someone is going to make a lot of money! In 3 weeks time, once the anticipated strategic initiatives being planned by this company, the price will rocket. One wonders who is mopping up shares at/below 3.5p! Who is the 'someone in the know' who is buying large numbers of shares at these depressed levels?

It certainly looks like someone does not want this share price to break out above the 3.5p level....for the moment. I think there will be a series of significant announcements due once the board has permission to issue new shares! Once these announcements are made (probably within the next two to three weeks) this share will take off very quickly and exceed levels not seen for over 12 months and 3.5p will be left behind never to be seen again!