Member Info for FreakyZebra

Yes it is a surprise, when they are telling us dilution isnt an option and there are other things that can be done with NAE and Redmoor. Again smoke and mirrors to hide the true intention of the Board. We have a complex mess of relationships between board and NAE and it is clear we did not need to purchase Redmoor. Given that JP paints himself as a master of deals, it is quite clear he is definitely not!

As usual our illustrious directors PW and JP, doing **** all to enhance shareholder value. probably lowering their average from the ridiculous salaries.

Sadly I expect you will be able to get them for less when the next round of fundraising rips the arse out of it for lccm.

Sadly inevitable. Surprised they reneged yet again on their no equity raise patter, back to square one. Now we own 199% of nothing.

Hopefully once the name is released in a few weeks we'll have a much clearer picture. By the sounds of it there are multiple parties involved.

To be honest prefer a swift chop than to the torture of death by a thousand cuts we've had since the client shafted us.

They must have some assets, after all they collected tons and tons of magnetite for 9 months....where did it all go...

Fantastic news, however

Client's assets seized as part of a US Securities and Exchange Commission's investigation with the Court likely to appoint a receiver to manage the assets of the client mid-June 2020

Any super-sleuths that know who the company is now? What has been going on here... Was the tech/waste plant a fraud?

Knowing SML's luck we will get delivered a letter of intent to make a decision in two weeks.

Good chance of RNS early doors. Let's hope it's a good one.

On an optimistic note, how much would £17m cash add to the share price?

Share price is suggesting good news is on the way?

Just to counter some of the positivity here...

If the arbitration does not rule in our favour (and from previous posts I do find this unlikely), I don't think this is factored into the current share price unfortunately. Any announcement must be met with clear instructions for Redmoor purchase and LC for how these are going to be funded. Its been clear for a while now this arbitration is what is stringing everything out. I wonder whether the pepr submission is a good sign that we are confident of a) winning a settlement b) have another funding line secured and ready to go in the event that arbitration is not settled in our favour.

Announcing losing arbitration with no backup plan for funding would be brutal.

Its a sad situation that we are waiting on an arbitration result to recognise value in the assets. I would welcome JV news before any arbitration results. Personally I think we cant go it alone on LC even with a decent cash injection. Lets face it there is still significant risk at LC coupled with a risk to the globacl economy with Covid. Id much rather share that risk with a partner, with a option for SML to buy out the partner after x period of time.

In any regard I would be extremely surprised if SML lose the arbitration claim, it would make no sense to initiate unless a) The client can pay and b) The legal argument is in our favour.

Naturally Im sure the board have a plan for worst case scenario and I guess communicating that to shareholders is not the best idea until arbitration and any subsequent court action if necessary is completed.

The cash flow is panning out exactly as planned. They have enough for the last quarterly payment. Its then a case of issue shares (which has already been agreed can be done) or kick it down the road awaiting the arbitration result and hopefully a substantial cash injection on a positive result - providing the client pays up and we don't have to then take court action to force payment.

There would be no point chasing arbitration if the company didn't have the cash to pay it. Braggin rights doesnt do SML any favours. Its a waste of time and effort for everyone involved. Which leads me to believe they can pay.

Sadly the media is making a mess out of the markets. Im amazed they have left them open. Until they turn more positive and we get confirmation the globe has a handle on it , I would put off buying anything. Given the peak timlines I expect May to be a turning point for the US and Europe. Who knows though, we just have to wait and see. Stay safe all, forget about money invested if you can. No one could have predicted the biggest crash of all time was right around the corner.

The RNS came earlier than I expected along with director buys. Overall a solid update and response from the company. Long may this approach continue.

I think personally it's a mistake to sell at these lows. We are back to rail settlement levels. Sml is a vastly different company since then. Sentiment is clearly against sml through director behaviours. However they will change their tune in due course I am sure. When that time is I don't know, maybe prior to AGM. I'm sure however it will be in concerto with bulk director buying. I'm bitterly disappointed by JP, PW and AB, however I cannot believe selling at 3 year lows when the company has changed so much is the right thing to do.

My previous post is incorrect values