Member Info for Georgey

Schach 123, I am a fellow shareholder and don’t share your negativity despite seeing my profit disappear over the last week. I may be naive but expect to be back in profit in a couple of weeks. You seem able to articulate your frustrations - have you communicated them to management?

Not been in here long so please correct me but I read this as everything converted pre 25th May had been sold, this RNS is effectively bar 200k exactly what was converted on 25th. This confirms they convert and sell with little delay. I assume these were then mainly sold pre June 1 conversion and we are now only dealing with the 3 final 42m+ conversions. The price action this weeks suggests the first 2 tranches were sold by around Wed lunchtime and they started selling the final batch in earnest yesterday morning and are probably 60-80% through as we would also have seen several traders also sell yesterday and today. All guesswork.

This reference stuck out for me too. Why highlight the possibility of a farm-in before July drilling rather than just a generic possibility at some point in the future. Two reasons I suppose for balance (1) I was reading too much into it and it was just a carrot to generate some volume or ensure the placing got away at 10p - but why bother as the placing was always going to be filled (2) this is a real option and given the limited time to July they must have a view and if chances remote the RNS should not have mentioned it - so they may be indicating to potential partners who now have their dd complete that they are very open to and may even prefer a farm-in now. This would be understandable rather than take the risk (of very different offers for better or worse) post initial drill results.

Hi Ammu, Nice to see you on here as well. I think just about everyone who took the last MATD placing have sold and took the AAOG placing don’t you? The agenda of trying to encourage the switch to AAOG is all a bit obvious on here and Twitter. I’m in both so balanced. Bit of a pain as I wanted to move a few across to add over there but decided to wait and that trade probably won’t work out now as they will very likely move in fairly similar timeframes now post tomorrow

I tend to agree with Brooko . I believe very few shareholders thought there would be no need for additional equity issuance before FDBK became self financing. That we are close to moving into an exciting growth and self sustaining future should be seen as a huge plus far outweighing another modest placing or two. When they do place and I don’t expect anything for a while yet they will able to do it well above the last placing price which was ludricously low to TB’s indiscriminate and I suspect fairly spiteful selling. No I also believe most of today’s sales were the dregs of TB as the sales seemed to be carrying the similar pattern and without any control at all. I’ll be putting some money on it tomorrow.

Cash $10m not �10m post year end FTC payment and o/s obligations Revenue - $21m historic revenues meaningless as moved to direct billing and have told mkt revenues will be much lower Cash generation - no idea as not clear if the modest inflow is purely new direct billing, I would think not No guidance on numbers Probably decent value but it is pure guesswork other than cash underpinning

I agree with that. I had him in the 2 - 2.5m range. Today and probably one more spurt should see him done although he's such a **** over this he may add a few as he's done once before just to antagonise. Bought a stack at and even below the placing price and again over the last week but only makes up for the large entry in the high 3's a year ago. Been an absolute pain but I can taste the clinical breakthrough coming and then its blue sky

Bit miffed with you there Brooko. I have been drip feeding the odd 100k and 250k on the way down over the last couple of weeks to average down and very nearly put the kitchen sink in to call the bottom over the last couple of days but hesitated after catching some at 2.25 when I had to start paying 2.4. You clearly got there first. Fair play.

I always pay attention e.g. when someone states it won't go above 12p then it does each of the next 2 days and then they state they predicted it would not close over 12p. I chose to use a little humour with your 9p call rather than treat it seriously. We have had two net negative reactions to the last two RNS's - the first the price went as low as c. 10.8p, the second c. 11.20p before bouncing each time and each time more quickly. We also only needed a little buying to quickly get to the upper 12's last week. Higher lows getting bought into suggests 9p will be a challenge without material negative news and particularly unlikely because no news this week that no-one necessarily expects in any event.

9p to 13-16p in less than an hour. He'll have you up to 30p by tomorrow morning.

Hi Dusterhater, A fairly regular poster only mid last week predicted the price would not surpass 12p over the next 4 weeks. It promptly did just that and you could sell over 12p for large parts of each of the next trading days. Predicting very short term moves other than post reasonably sized placings is a tough gig, otherwise we'd all be on the beach I guess. I hold so of course I am predicting a price higher than 13.5p in due course - otherwise I'd have traded this to death and clearly should have done as I can't predict short term moves either Have a good evening. PS I see over on ii that that Portland guy aka Senn over there bought in over the last few days and seems to have a hotline into the Company. Probably bought higher than where we are today. Funny old world.

buying in it seems.

showing on HL. Hope it clears much of this overhang which is very irritating

I should have also added that it is called Annual and Special Meeting every year.

Jag, the Management Information Circular associated with the Meeting is 84 odd pages - takes a while to find. Just starting it now at half time and will go at it again when Arsenal go 2-0 down. Anyway the resolutions look to be all ordinary ones so I am guessing (as not certain) that is named this due to either the notice requirements or proxy voting requirements embedded in the Company Statutes. Most of the 84 pages are background to the LTIP and option packages announced a few weeks back that need to be approved - hesitate to bring that up as it will antagonise some again! Other resolutions are to approve the 2017 accounts, reelect the Board, reappoint PwC. All standard fare. I may well get to this meeting subject to not having to travel with work as there is so much going on with SDX I am beginning to lose track of stuff. Cheers

Mr Calm, they bought this product for �1m WITH FDA approval 12 months ago. Its just a basic d*cknumbing gadget you'll see now and again on The Shopping Channel late show or Notfitforthehighstreet.com. Mkt cap has increased by �15m in 24hrs or so. So there is a reasonable chance you have yes but it'll come back at some point. I've been in this at various sizes for 17-18 months or so and like the story but it is illiquid and spikes up or down with sentiment that changes rapidly, partly due to newsflow never being in line with expectations, good and bad - great trading share, the train regularly leaves the station and always comes back for repairs. Many thanks to Taff and Python for your special efforts - helped me make a bit more than expected

Urraca, think its just you...punishment for selling a few SDX this morning

Agreed Daft 1) they have consistently argued in the past that wrt Sebou we will need more drills and reserves to meet demand. This now looks solved for foreseeable future in one go. To give impression of demand constraints is poor language. 2) And as for lbn-Yunus derisking adding only 4.4p to RENAV, I think we�ll be generating a fair bit more than that..... Everyone has their own investing parameters and time horizons - this is a great little company which save for the odd communication blip is going from strength to strength and delivering very quickly - those with the ability and patience to see this play out this will be richly rewarded. I hope to be here for the duration

Shakey, from memory that's not quite what Edison have said. Their premise (and the maths is covered in one of my rare but recent posts) is they believe 8-10 further drills would be required to meet anticipated overall demand in the area not simply one contract - and is all based on their initial probabilities on successful drills, size of find (which are outdated as SDX seem to be outperforming) as well as demand etc. But yes we can expect further drill programmes each year - that's what we want isn't it as long as they internally fund going forwards Having been here just over a year, it seems the market respects SDX for this cash generative Moroccan strategy but is unwilling yet to rerate it substantially until either there is no choice because so much cash is being thrown off that it can't value the equity at zero or we start to see more success, sizable upgrades in reserves and tangible development plans on the bigger targets We'll get there.

Got it, in the Jackpotjoy RNS, thanks. Clearly should have read that before asking so apologies and thanks for responding patiently - just assumed it was a commercial arrangement. Interesting