Member Info for extrader

.." The valuation metrics will change downwards as we go from hope value to actual value based on trading results in due course. IMHO.."

Or, less technically, you sell the sizzle, not the sausage.

Ho hum

Thanks rumelt.

To be clear, I think the restrictions that apply are
- a low of 0.1 p because that is the nominal value of a share; and
- a high of 1.05 x the average mid-price over 5 days (not an increase over), as your wording suggests….

Don't get too excited about the share buyback provision : it's a fairly standard resolution...and was passed at the 2021 AGM also, see

.."Resolution 8
THAT the Company be and is hereby generally and unconditionally authorised for the purposes of Section 701 of the Act to make one or more market purchases (within the meaning of Section 693(4) of the Act) on the London Stock Exchange of ordinary shares of 0.1 pence each in the capital of the Company PROVIDED THAT:
(a) the maximum aggregate number of shares hereby authorised to be purchased is 67,085,500 ordinary shares of 0.1 pence each (representing approximately 10% of the Company’s issued ordinary share capital as at 23 June 2021, the latest practicable date prior to publication of this Notice of AGM);..."

The only difference being that we probably have less cash now than we did then : I've asked ORPH twice to let us have the May 2022 cash balance (as they did for May 2021, as part of the FY results), so far to no avail.

Ho hum.

.."#SYME first Traditional IM Transaction.."

How can you write of a 'traditional' ie 'long in use' transaction when SYME hasn't closed its first, yet ?

Your uncritical, repeated regurgitation of inaccuracies does SYME no favours, AFAICS.

PS George has a PhD in engineering from Cornell and a background in finance at Wachovia and Morgan Stanley, so definitely isn't a 'trader' in the barrow-boy/loadsamoney sense of the term !

AFAICS

There's a little more detail in his profile on Champion, a GLEN iron ore mining project in Canada
https://www.championiron.com/corporate-profile/our-board-of-directors/

I'm not sure about his current role : his linked-in just says he's a trader at GLEN; at the time of the Glasenberg exit/management re-shuffle Mar 2021, there's this :
.."Following the departures, the zinc and copper trading units will be merged and run by Jyothish George, who will take responsibility for trading refined metals, and Nick Popovic, who will lead concentrates trading. ..." later on the article concludes
.."Earl Melamed will replace Nagle running Glencore’s coal assets, while Peter Hill will replace George as head of iron ore trading..."

Champion Iron DOES have possible read-across to any Zanaga deal : GLEN's involvement includes an offtake agreement underpinning the project early finance :
https://www.canadianminingjournal.com › news › iron-ore-champ…
.."Montreal’s Champion Iron has secured conditional financing of $31 million from Glencore International for its Bloom Lake iron ore mine reopening. As part of the deal, Champion and Glencore will enter into an off-take agreement with fixed terms for 10 years..."

My heart nearly stopped when I read this press release, though !

MONTRÉAL, May 17, 2022 /CNW Telbec/ - Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) ("Champion" or the "Company") is pleased to announce that it has entered into a definitive purchase agreement (the "Purchase Agreement") for the acquisition, via a wholly-owned subsidiary of Champion, of the Pointe Noire Iron Ore Pelletizing Facility located in Sept-Iles, Québec (the "Pellet Plant"). Additionally, Champion announces that it has entered into a Memorandum of Understanding (the "MOU") with a major international steelmaker (the "FS Partner") to complete a feasibility study to evaluate the re-commissioning of the Pellet Plant and produce Direct Reduction Grade Pellets (the "Feasibility Study").

Wrong Pointe Noire, alas, but the pellet plant and DR proposal are an uncanny echo of what ZIOC has been proposing for some time.

Ho hum. HTH.

Not intended as a criticism ! Just to suggest Elphick has more 'skin in the game' in $$$ terms, apart from the other reputational considerations....

ATB

Retraction :

I earlier wrote : .."Elphick has been quite combative in the past, IIRC, at any suggestion that his are not a ‘clean pair of hands..."

On re-reading, this didn't come out quite as intended : I meant to say and convey that he'd been quite protective of his status as 'a clean pair of hands' etc.

Understandably so , he has a background and connections with the S African establishment worth protecting : "In 1988, Elphick was seconded to E Oppenheimer & Son from Anglo American to be Harry O’s personal assistant and became MD of the family firm two years later. Harry O died in 2000 and Elphick left the firm in 2004, to found Gem Diamonds the following year. He holds a BCom and BCompt Honours from Wits. Apart from his mining background, Elphick is also celebrated as the developer of Plettenberg Bay’s first polo estate. The sport now generates over $40m in revenue a year for the area..."
https://www.miningmx.com/rainmakers/profile/26

Thanks from me too, Veteran10.

Clifford's holding is approx 27%, ie 80+m, not 27m, from the 'Investors' page on website :

Shareholder Number of shares % of share capital
Guava Minerals Limited(1) 80,252,592 26.14%
Keith Everitt 17,270,000 5.62%
Julian Higgins 13,755,298 4.48%

(1) Clifford Elphick, the non-executive Chairman of the Company, is indirectly interested in these ordinary shares, representing 26.75% of the issued share capital of the Company, by virtue of his interest as a potential beneficiary in a discretionary trust, which has an indirect interest in these ordinary shares.

As an aside, I wonder what Keith and Julian think is going on....if anything ?

;->

AIUI - v limited understanding, from a quick scan - KP"'s potash is intended to be barge-transported out to larger vessels offshore, which seems inefficient/costly.
ZIOC's offshore floating system was intended to handle iron-ore slurry, was it not ? I don't know the handling requirements for potash, but IF the ZIOC system was in place, that might be an alternative/additional user : I seem to recall there was talk/aspiration of the Chinese using the system to handle bauxite shipments....

Another possible consideration is that ZIOC is essentially ' Elphick + mates'...and he may wish to maintain the public quote for their sakes / at their request, so that everything remains above board.

As Lenin said ' Trust is good, but control is better'.

My ‘cautiously optimistic’ take is that the loan ( peanuts for GLEN) avoids potentially serious dilution for ZIOC if the alternative is a fundraise : the remaining Shard 3m would raise barely £60k; and keeps ZIOC as the original promotor formally in view in any discussions (‘have to take our partner’s concerns into account’) ie publicly on-side, whilst making it clear to anyone interested that GLEN is the party in the driving seat.
The other, more cynical, is that it’s arguably more attractive to ZIOC /GLEN than ZIOC de-listing, which would give the authorities a pretext - and maybe even som e right, eg a ‘change of status’ provision - to revoke the concession.
Also, of course, ZIOC remaining a publicly quoted party in any development, however unattractive, is probably better for GLEN from a ‘transparency’ perspective, which is probably quite a consideration for the new CEO and BoD :
Elphick has been quite combative in the past, IIRC, at any suggestion that his are not a ‘clean pair of hands.

‘Dum spiro, spero’ : while I breathe, I hope….

Who knows ? As others have said, it’ll be interesting to see what AT says, if anything….and how he says it. Through the salary concessions and LTIP etc, he should still have a useful holding if any deal is done.

Ho hum

.."Ex, you’re concern is admirable.."

As so often, you've got the wrong end of the stick.
(1) My use of the words concern and worry was in response to the choice of those words /sentiments by the opening post.
(2) 'Altruism' isn't expected to pay the bills....that's rather the point.

Enjoy the weekend anyway.

..” They already stated that Venus will take up all unsubscribe shares from the Open Offer...”

Not so.
What the RNS actually says is …” Any Ordinary Shares not taken up by existing shareholders through the Open Offer will be subscribed by Venus Capital in July 2022, as part of its binding commitment to provide up to £7.5m…”
Not quite the same thing.
HTH

Just for info, these links take you to graphs showing the performance of VeChain VET and VeThor token s/p movement over the last 12 months :

https://coinmarketcap.com/currencies/vechain/ high of US$ 0.18 to current 0.0234 ie 87% drop in value
and
https://coinmarketcap.com/currencies/vethor-token/ high of US$ 0.015 to current 0.001533 ie 90% drop in value.

It seems that it's not only SYME that could do with some good news.

Two drunks supporting each other is the image that springs to mind.

Ho hum.

.."is the mine already operational and if so do they export overseas?.."

No and no. It's not even a hole in the ground, yet.
See https://www.ncondezienergy.com/power-project/, everything is future tense.

HTH

PS 'extrapolate' is a fancy way of saying 'look forward'.

.."An allegedly experienced investor like yourself should understand that the market is forward looking..."

If you extrapolate TF's performance re turnover and net contribution, the trend is one of deterioration , from the FYE results :

.."TradeFlow contributed GBP0.2m of revenue and (GBP0.5m) to the Group's operating loss for the period between the date of acquisition, being 1 July 2021, and the 31 December 2021. As a preliminary assessment, had the acquisition of TradeFlow been completed on the first day of the financial year, Group revenues would have been approximately GBP0.3m higher and Group operating loss would have been approximately GBP0.6m higher..."

Turnover H1 : 0.3m H2 : 0.2m Total for year : 0.5m revenue
Op loss H1 : 0.5m H2 : 0.6m Total for year : (1.1m) op loss

'The trend is not your friend'.

HTH

The 'repeat client' , esp. the 1 who provides 1/3rd of ORPH's revenue, will be given priority over smaller-scale albeit more profitable business (any one of the other 60 names that ORPH has dealings with) that calls at the same time, wouldn't you agree ?

Maybe I've become a bit jaundiced about CF and his 'marketing'. Do you still feel as you did when, amongst your relatively few posts (all abt ORPH), you wrote this in Nov 2020 :

.."Three things certain in life... death, taxes and a nice blue day after a Cathal presentation..."

The third hasn't aged well, IMO.

.."Our downside is covered by TFC..."

You think TFC (loss -making) supports SYME's £ 30m + market cap ?

Ho hum.