Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
Amazing news for Amigo, buys a lot of time now, less risk of defaults from anyone that has a loan currently, less risk of heavy unemployment. If lending starts again in Q1 2021 this would still give Amigo a good buffer.
https://www.bbc.co.uk/news/business-54824120
Usually bad news is published on Friday to allow for accurate absorption over the weekend by investors. Monday hoping for a +ve RNS, maybe complaints are still on going/extended, but I'm sure there will be an overall positive result.
Does anyone know when the next progress / US launch update from 1st April is next due?
There is currently no short positions for Amigo, shorts would usually have some inside info if things are going wrong. To me big buys, CEO buying today and Decent RNS from Friday which was washed away and ignored by the politics should mean there is only one way this company is going , which is UP. Also, if you think about the FCA result on penalty will probably be much less than expected. FCA would not want to put more hardship on lending companies during a pandemic, fear of 2nd wave and already a lot of unemployment. so I expect FCA to show empathy and a little slap on the wrist but nothing as major as some may think.
If JB were to lose why would the SP be 4p when it was 10-11p before he even put any proposal in. Your imagination is a bit delusional. Plus is he shorted the stock he would have had to disclose it which again would defeat his vote. Come up with a better story to back your deramping agenda. We know you want to buy in cheap.
I think JB has shown way more passion and commitment to turn this company around than the current board that have crashed the SP over the year £1+ to 5p low. At the end of the day its JB baby! He created it and no one wants to see their first ever company go down. GC had to do what he did to keep his job and salary, but i still think JB can turn this over alone. He already had to take a big hit selling his shares which i am sure he bought much higher prior, so i think 20p is not a bad offer as a base. Even higher than GC buy in at around 7.5p. I believe JB will bring this company out of its doom days and even take it out international. JB HAS MY VOTE!!
Thats the only, way i can see..what else can he do? offer below 20P? will get rejected? It must be attractive, and he knew this. tried his luck first time, but he has a plan B.
1. Formal request did not work, so now only way for JB to avoid a share holder vote is to give them an offer they cant refuse! you cant tell whats coming.
2. if it does come to a share holder vote, the only way for Share holders to back JB is for him to make an attractive incentive for share holders to vote him in to out way the ''GC preparing to resigning if he Joins'' issue, so why would they vote him in unless he has something better to offer?
3. The board now will have to produce some good news with the result to try keep shareholders from voting JB in and show that they are performing better without JB. so as a result, they need to let out +Ve news.
I believe this Friday we will be on 20p+ Lets see...
Thanks FigTreeHarry, people dont see how corrupt organisation are, they seem all professional yet sneaky and manipulative when they want to be. JB is direct and I can see truth in his passion, there is no smoke without fire.
lets see how next few days play out. GLA
I disagree, its politic all over, the RNS is all words no promises and there to put fear so PIs dont vote JB in. its clear as ICE.
This is all very confusing . JB support GC, GC seems not to on paper, JB sends screen shot of chat with GC on twitter showing they are both on the same page. whats going on? only one way to tell hold an wait. either way if JB comes back in or not BOTH GC and JB have interest in recovering this company. so rather vote JB back cause since the last rejection to JB vote, all we got was more bad news and more complaints.
well ''he made it clear to the board that he is not prepared still leaves no definite answer. Also, if JB does get voted back in and the board is out, what they say would have no relevance.
Exactly - why didn't they say he WILL if they are so sure? because that's all they can say to show fear and hold investors back from voting JB back in. If it does go to vote JB will get mine, rather a fresh start that this sinking board
well i believe he is very confident the fact he got so much backing on his proposal that the only way for them to put a road block from investors to vote him back in is to, through out a surprise of ''Glen may resign if JB is back'' that way all the share holders would think twice before voting him back. JB is saying that he had to say that statement as political move, since he needs to back the board, even if he does not really mean it. I personally thin the board have done F all, apart from get us into **** and this mess. Amigo was doing way better in JB's hands. He has a lot more experience and smart in making moves and getting this done quick. you can tell by his actions he is persistent to get things done, you need to be slightly delusional to get places in life. And JB is bold and if he is persistent to get back his first company back, I'm sure he will keep going and work very hard to get it back to where it was quickly. I would rather vote JB back in and even risk Glen resigning since JB is the parent of this baby and want to take it international.
So I have had another dialogue with James today and thought I would share. I was a little harsh but had to be to gain some reassurance.
ME: James - I think for shareholder they were expecting that Glen wanted you back. But the RNS is saying the contrary. If you are to ask for share holder vote, Glen needs to reassure he won’t quite if you were to return. Currently the share holder have no confidence that you are aligned since they don’t want Glen to be removed either. Why would glen be forced to say he would resign ? He could have just left it at the share holders to decide and stayed neutral. Otherwise now, I can see a share holder vote getting rejected again.
Or option two you show your commitment buy re-buying shares into the company when you can after reaching 10% which may trigger more confidence in shareholder votes.
otherwise It just come across fishy why Glen was against you returning. When you were saying the opposite and making to be best buddies.
JB: ''The board were in a corner, if they didn’t immediately want to accept all proposals, this was really the only card they could play.
Without that it was 100% they would lose the vote.
Glen must have agreed to it obviously. But the pressure would have been on him to commit to that, and no less. Not saying he was in danger of being fired. It’s a political puzzle. In 10 years of working with boards I’ve never seen open disagreement during a meeting. People take positions that they need to take.
Anyway personally , I wish had sold my stake at 9p Average on Friday at 20p and re-buy today at 11p- but I rather not risk it since this will rise again and holding long term. I still believe over the next few days, the board will have to release some positive results, especially in order to get the share holders vote if it goes head to head with JB. Also, after that a few days JB could well start making some big moves to regain control as part of his place he mentioned on twitter , share buy back to gain more stake and voting rights or a take over offer doesn't seem far too far off as a realistic option.
If the closing is effective on the 5th August then surly today decrease is more of a market reaction and on the 5th/6th this should drop further once the New shares are actually placed reflecting the effect post dilution??