Sam, thanks for replying and only just read your post as been doing jobs around the garden.
Like you I reduced here but have been adding back a little of late.
I hope you have success elsewhere, in my opinion a sensible idea spreading your risk.
All the best to ya.
It seems likely that Samspade might very well have sold/reduced here given Rodster's recent post about someone he knows reducing by the number of shares mentioned. I see Sam is having a jolly old time on RMM (Rambler) and good luck to him over there so guess he thought that was a superior investment opportunity.
Sam if you are looking in be interested on your thoughts on little ole SRES and if you still hold some.
I listed to the Webinar again yesterday and have some thoughts on that which I will share at some point such as they are worth.
Have a jolly day y'all.
Mmm, think some of that sixty grand was spent enjoying yourself in Cambridge Jonny. If things get too bad your Dad will write you a cheque; he is renowned for his generosity!!
Safe trip back to CB...
And for other SRES holders, let's hope we get some news next week.
Worth watching the video at top of above link; presented by Susan Garwood.
As Paul Hill noted in a Vox stocks update yesterday our US partner Biodesix (BDSX) has renamed our product as Nodify CDT and this is (as Adam Hill noted on recent Vox interview) the first test run by BDSX to identify at risk patients. The same product here is EarlyCDT Lung.
Adam Hill noted that BDSX are increasing their sales force to 80 or 90 people each of whom are expected to be able to sell 1K to 1.5K tests per year. If anyone has any clue how much ONC might receive per test would be pleased to hear it.
bamb, we had a little over £1M in cash as of end Sept 2020 (see end of year results) after having raised £1M a little before that date. We would be guessing a little on current position but we should (in late May) get exact cash position in end of half year to end March 2021 results.
We have spent some money on trial mining at CS and done a little drilling at Clayton and of course have our G&A costs. I am personally hoping we will show remaining cash of ball park £500K still left but that is a little bit of guesswork.
If we get customer orders (offtake) then we will of course need to fund mining start of but it should be relatively low cost as we are planning to rent required kit. Also there is possibility that an offtake partner will JV will us and assist with funding of that.
I can only speak for myself but have mentally drawn a line in the sand.
We are in a new financial year and we are up .1p this morning.
Putting a positive spin on things a lot could happen this year for us.
Was listening to John Meyer on Vox talking about resource stocks and the Financial stimulus in the US.
A huge amount needs to be spent on infrastructure and Biden is chucking a lot of money at it.
We have a permitted project that has 2 in demand products and all we need is a deal to get things moving.
I just bought 1M to top up my holdings..
Very much agree with that Daddykool.
Also am seeing all the so called 'promoters and manipulators' on this board - if anything we are all a bit world-weary from all the waiting. As you have said many of us are not of the opinion that CS will be sold and many of us have reasonable expectations of the SP moving forward.
Obviously he is an intelligent and articulate poster but seems to wants to portray himself as superior to the rest of the posters here. Ah well you see all sorts of folks on the LSE boards I guess.
Back to SRES, the Perlite should have been re-processed by now and the Pozz grind happened at the CRMC. Be nice to get an update after Easter.
Happy Easter all....
Nice posts 1investor. Ref Transport costs, I am sure Patrick would respond if you email'd him with a query on estimate of costs per ton for delivery in either of Nevada or California. Last time I spoke to him on some general matters he advised me that California has a lower allowable axle weight for lorries/loads than Nevada so likely to be a bit more expensive to deliver to California for that reason.
All the best.
Hi Rodster, just spotted your post whilst glancing at Safe having a moan!
Yes I reduced my holding over a long period.
Main reason was losing money on HUR (Hurricane Energy) which was a real knock. I could not risk taking a hit here in that same way with such a large holding so had to diversify.
I also left my job last October so now living on my BT pension and some other savings.
It is difficult trying to say positive things to folks on a day like this. That trade earlier at .1653p made no sense and almost seemed intended to knock confidence. I still have a decent holding here and will keep that until things hopefully turn round here.
All the best to folks here....
comeonsres2. Appreciate the respectful tone of your reply.
Yes agree we just have seemed to constantly slip dates on our expectations up to this point.
By end of May though we should have;
1. Some news on the Pozz testing and that is a big fingers crossed thing that it works well in real life jobs!
2. The drilling in Australia should be done and whilst we will probably be awaiting assays we should know how the core looks.
3. The Perlite re-processing will be done soon so that will be resent to the Customers and I hope we will have news of that.
4. Possible news on Clayton JV
I would recommend you find an hour to listen to the Webinar if you can spare the tim.
As 1Investor just pointed out there were a number of things in there that are positive including the increase in pricing of Perlite (20% I recall) and also as he says the comment about the NE Zone probably being re-prioritized after the Main Zone. Even if we are off to a slow start offtake wise it is clear that Patrick does expect us to be selling this stuff sometime!
All the best anyway and enjoy your Sunday.
Safe I respectfully disagree with you. My support is neither blind nor unsubstantiated.
I lobbied Patrick for a Q&A opportunity and I believe this led to the recent Webinar.
If folks are not satisfied with the info given in that Webinar then so be it, they can choose to hold or sell based on their views although lets face it selling any number of shares in the last number of months is nigh on impossible!
I have been clear that I have been unhappy with some things and wrote privately to Patrick about this. However on balance believe that our best opportunity is to give Patrick more time to get offtakes over the line.
I am sure Patrick is very well aware of the disquiet from many shareholders and will be re-doubling his efforts to add value to the SP. I really do think things will look differently here in the next two to three months. Tell you what, lets see where we are by the end of May and we can review this conversation then - I will schedule a reminder for myself Safe to check in on Sunday 30th May!
Enjoy the weekend all - been watching the Players Championship (Golf) and looking forward to the final round tonight.
Oh and great result yesterday in the Rugby (I am English but my beloved is the Dubliner)
Guys, I won’t be supporting any EGM or ‘no confidence’ votes in Patrick.
I am frustrated at lack of SP progress and the recent Perlite processing error.
However there is progress with permit achievement for CS, ongoing trials and also on the Precious metals projects. I am therefore willing to patient with my reduced holding for some time longer.
Can I though nail one myth that Patrick only gets paid in shares for his work at Sunrise. If people care to read the results statements you will see that we have a management services agreement (MSA) with Tertiary to pay for our (Sunrise’s) share of all the staff, admin costs. This payment is lumped into the figure you see as Admin costs each year, I am no accountant but believe these are Capitalised costs.
It is hard to work out how much of the Admin Costs is related to the MSA but if you care to look into the info below it seems to me that one element of the MSA is a charge for Patrick’s services as Executive Chairman at £80K approx for the last 12 months.
In addition Patrick and the other Directors (technically the only employees of Sunrise) also get paid Directors fees and it is these fees that Patrick takes as shares and believe he mentioned this in the recent interview. I see ‘no’ evidence that he is taking the £80K wage (per the MSA) as shares. In simple terms I believe Tertiary pay all the bills including Patrick’s wage and charge back to Sunrise for their share of this. It could be (I don’t check Tertiary’s accounts) that Patrick also gets paid for his work at Tertiary.
Final Results RNS;
The Group’s business is directed by the Board and is managed by the Executive Chairman. The Company has a Management Services Agreement with Tertiary Minerals plc (“Tertiary”) which was the original parent of the Company. Under this cost sharing agreement Tertiary provides all of the Company’s administration and technical services, including the technical and management services of the Executive Chairman, at cost.
Check the consolidated income statement for year to 30th Sept 2020, admin costs shown as £298,980
>Page 35 – Note 4 Directors’ Emoluments
See this paragraph.
Patrick Cheetham is also a director of Tertiary Minerals plc and under the terms of the Management Services Agreement (see Note 5) a total of £80,121, including Employers National Insurance Contributions, was charged to the Company for his services during the year (2019: £76,773). These services are provided at cost.