Member Info for GlenFidrich

Exactly, Max, which is why EH holds such promise. "Bonanza silver" was what caught my eye initially, and led to my investment in Alien. Really can't understand the sp here, but nor can I understand the silver spot price. But with $ weakness (if not collapse), I'm absolutely convinced the future is bright here. Each to their own. DYOR.

Chris2, you seem to be new to investing. If you're looking for instant riches, might I suggest you check out the runners and riders at Kempton Park. Investing in mining companies (especially explorers) is not a sprint. Alien may well have had its issues in the past, but the stars seem to be aligning, and I for one am positive for the future. Any further weakness in the sp, and I'll be adding. To carry on the racing metaphor, one should not look a gift horse in the mouth after all! GLA!

...was, from my perspective, comprehensive, positive, and highly professional. Lots of moving parts, hence the inevitable delays. I just think one needs to take more of a medium to long term view here, manage our expectations, and thus avoid "disappointment". Just my two pennies' worth, fwiw. As RM points out, there is considerable upside potential for shareholders, and having just invested 250,000 GBP of his own money, I'm inclined to believe him! GLA.

"Rick Rule has a free service..." Wow! Come on down, the price is right, lol! Any better, Freddy?

Fair enough. I was invested, but luckily jumped ship a few months ago. Have been watching from the sidelines since, but like the company and concept. Can't believe the SP to be honest. I would say 2024 will be the transformational year, and we might even see a dividend declaration then. Regarding MF, yep his holding is substantial. Can he - will he - hoover up more shares? Not sure. Actually, I always thought ESYS would be an attractive T/O target from a larger US competitor. At these prices and with GBP in the doldrums surely this must scream buy to someone?

Yep, nearly bought in yesterday, but thought I would let the dust settle a bit first. Boy, am I glad I did! But your analysis is similar to mine. Cash in the bank healthy - no debt. Mark Furness (for me, an impressive CEO) has major skin in the game. Relatively few shares in issue/free float. Much of their growth (and therefore revenue) is being generated stateside, and with GBP weak, this must be good for bottom line revenue figures. Loss was a worry, but much of the capital spend was to foster growth (bringing in the personnel to propel the business going forward). 2023, even 2024, might prove to be difficult, but for me ESYS is the future and at current SP you're buying a bargain. Just my take, fwiw.

So, current market cap 25m GBP. This from 22/3/2022: "It is worth recalling that back on 25 February 2021, TPI published an updated assessment of Alien. This individually reviewed each of the Group’s continuing projects, from which it derived a sum-of-parts upside valuation of £82.9 million. Hamersley dominated these, contributing some £61.2 million of the total. Subsequently, of course, Alien announced negotiations were underway in order to take its holding in the Brockman and Han**** Ranges projects from 51% to 90% through a cash and shares transaction; now being finalised, this transaction (before even considering the significant progress being made elsewhere in the portfolio), along with subsequent production of Han****’s Maiden JORC resource in September 2021 clearly presents opportunity to boost this figure beyond that indicated in the original assessment". Am I missing something, or is UFO seriously undervalued?

Agree with your analysis, Pearls. This is starting to look like a steal at these prices. Also, with the GBP weak and the USD so strong DARK must be a takeover target, surely.

...today, and last Friday. Someone accumulating? More directors' buys? Looking like support at these levels at the very least.

KHJ, you beat me to it! So a cash raise is likely. Jeez...

...not that anyone seems to care anymore. Pretty uninspiring, all in all. I may be reading this wrong, but another placing would appear to be necessary (probably within the next six months) given cash at the bank and current burn rate? Anyone care to concur, or not?

More gyrations than a Patpong pole dancer at the moment.

With fleas, and all.

...CSFS have no skeletons in the closet regarding this:
https://www.msn.com/en-gb/news/uknews/head-of-colossal-uk-dubai-money-laundering-gang-jailed-for-nine-years/ar-AA104zFH?ocid=mailsignout&li=BBoPWjQ
Just saying, but their expansion into the Middle East - providing "financial services" - does beg the question.

Brad, 25p seems like a reasonable price target, in the long term. Therefore, for those who are seeing opportunity - absolutely, jump in! BUT, please don't expect an immediate turnaround. This will take time to recover. Why? Well, to expect a turnaround, when less than 3 weeks ago the board were highlighting "the existence of a material uncertainty, related to going concern". That's a massive admission. That's a massive red flag, imo. Then, there is also the announcement re: the impending capital raise. The market needs to know how many new shares will be issued, and at what cost? Until the Board enlightens the market re: this issue, the SP will continue to drift. I've seen it a million times (esp. on AIM). Finally, I wonder about the general health of "financial services" companies, when the market is tanking, when trust is being undermined, and when raising capital in todays environment is a mug's game. DYOR people, but this company is facing an existential crisis, imo. They need to steady the ship asap, or we're in for a rocky ride. I honestly don't mean to be the prophet of doom, but I'm seeing further market weakness ahead, and CSFS may well become part of the ensuing collateral damage. Hunker down (in your nuclear bunkers, if needs be!), because "we ain't seen nothin' yet" would be my message.

And beneath the basement floor is the wine cellar (which will come in handy when drowning your sorrows), and beneath that, the nuclear bunker. All best.

Joe, the next RNS had better be about the equity fundraising that was alluded to on June 30th, and which precipitated the roughly 70% collapse in the SP. What really irks me is how different the wording was relating to the financial position of the company from the June 30th RNS to the July 11th RNS. This from June 30th: "The cash flow forecasts assume that further equity fundraising will be necessary over the coming months in order to implement Cornerstone's growth strategy and for the Group to continue to operate as a going concern. Although the Group has had past success in fundraising and continues to attract interest from investors, making the Board confident of fundraising success, there can be no guarantee that such fundraising will be available. These circumstances indicate the existence of a material uncertainty, related to going concern. The financial statements do not include any adjustments that would result if the Company or Group was unable to continue as a going concern." Truly shocking. Then this, from July 11th, less than two weeks later: "As noted in the Group's final results announcement on 30 June 2022, the Group had bank balances of approximately £0.28m at the date of the approval of the financial statements and convertible loan note facilities of a further £0.45m that are available to be called on 20-days' notice (£0.1m of which cannot be called until 13 January 2023). As a result, and with the Group carefully managing its cash resources, with the support of its professional advisers and its key stakeholders, who are creditors of the business, the Board believes that the Group has sufficient access to funding to continue as a going concern until the end of the current year." No mention of any "material uncertainty" in the second RNS (which is what really crashed the SP, in my opinion), nor any mention of an equity fundraise (or the fact that there could be no guarantees of being able to raise the necessary funds). The first RNS was shambolic, but the second RNS almost feels like a whitewash. As I've suggested before, until we know the terms of the fundraise (i.e. by how much we're going to be diluted), the SP will just be subjected to the wild swings/whims of the MMs that we've witnessed since June 30th. It will become a trader's paradise, another basket case AIM share, another white knuckle ride for genuine investors. It's utterly pathetic.

Obviously pleased that the SP has recovered from the lows of last week. Yesterday's RNS steadied the ship somewhat, importantly addressing the financing question, and we saw the SP more than double in its wake. Happy days!
The whole "there is a material uncertainty" regarding CSFS' future was my major concern after the June 30th RNS, but after yesterday my fears were allayed. Up to a point. JW being shown the exit is a major plus, imo. His competence as CEO was greatly compromised by the vagueness of the 30th June RNS. To suggest a fundraise would be necessary "in the coming months" just spooked the market. End of. It was almost as if it was engineered to allow his fat cat buddies to buy in on the cheap, and buy in they did (witness the volume yesterday!!). Anyway, I guess it's now all water under the bridge, although an investigation would still be warranted, imo. But yesterday's RNS also didn't put to bed the whole capital raise/dilution issue. It was pushed back to December/January. But it didn't go away. New shareholders here need to be cognizant of the fact that a fundraise is coming. At what price is anybody's guess, but raising money in today's high interest/ high inflation environment may be costly (which is perhaps why it's been pushed back). Beware, in other words. My biggest concern is what damage this whole sorry saga has done to the reputation of CSFS, a business founded on TRUST!! We're a financial services company, yet we're unable to manage our own finances without the market flipping out over our ability to continue as a going concern? You could not make this up. To Newuncle, I remain invested, but only because I'm stuck at a higher average. I will continue to hold, but I'm hardly jumping for joy after the shenanigans of the last two weeks. But JW getting his fat backside kicked out, I have to admit, is truly wonderful news!!

Thanks, PCS, and anyone/everyone else who has had the decency to call out LW's vile comment from last night, which referenced my late father. It was beyond hurtful. I have to admit, in fairness, that I probably tend to invite some of the vitriol I receive by my often flippant remarks, often poor attempts at humor on my part, or just me winding up some who seem to take themselves a tad too seriously. But I never imagined that anyone would respond in the way LW did. I can take people having a go at me - I probably deserve it at times - but let's leave out vile insults directed at family members. My father died six years ago from ALL, a particularly aggressive form of Leukemia. I invested in Sareum not long after in the hope that they might find a treatment for this horrendous illness. I am still waiting patiently for that dream to be realized. Anyway, thanks again for understanding and sorry if I have offended anyone on this board. I won't be posting again.

But, James, the 'London Wolfie of Wall Street' (a.k.a. the 'Paternoster Fox') has spoken, with his usual "I'm in the know" smugness. That's great, but the market hardly cares less what PH has to say about our beloved Sareum, or any other company, for that matter (given their latest results)! The science will win through, my friends. Everything else is opinion!