Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
50p before consolidation? You must've been smoking that Rastafarian Old Holborn that Thoth's partial to.
"They rent premises in a revamped sheepskin factory which was converted to units." Ah, I see. That's why I'm feeling like I've been fleeced.
"Dilatory". I must admit, I had to look this word up, just to make sure. I guessed from the gist of the sentence that it meant "negligent". But the dictionary definition is more succinct: "Intended to cause delay"/"slow to act". Now why would Sareum want to delay the release of the toxicology report, I wonder? Is it a case of, "just wait and all will be revealed", in a good way? Or is it, "let's delay the results until after consolidation, then let the proverbial hit the fan"? I hope to God it's the former.
MrIndia, when dealing with you, I've tried the meds, but they're clearly not working. Could you recommend anything stronger?
fearg, and a lot of shareholders are 'piste off'.
So, something like 300,000 more sells than buys so far today, we're down 1.45%, and MrIndia is having kittens. FFS, can everyone get a grip! Might the delay be Covid-related? Might the pre-IND meeting request have been delayed due to the Christmas/New Year holidays? Did anyone stop to consider that the good folk at the FDA might take a holiday during that time? Spend some quality time with their families? NEWS WILL DROP WHEN IT DROPS. No amount of belly-aching will change anything. My question is: Why, if MrIndia is depressed, should I be dragged into the depths of despair, too? Please, MrIndia, with sugar on top, STFU!!!
I don't claim to be wise, but I wouldn't worry, EP. At the rate we're going, by next Wednesday you'll be able to buy back in at about 10% cheaper. Lucky you!
Thx Micky, appreciate your comment. I wasn't trying to ramp up the SP, if that's what anyone thought. It just seemed strange that anyone would buy 1 share for 2p, given each trade I make with II costs me around 8 quid in commission. Anyway, I'm in for the long haul, so I don't know why I should care less about the day to day movement. It's just I've read on other boards how the 1 trade is sometimes the harbinger of news. Wasn't trying to be a conspiracy theorist, either! Apologies.
Micky, just looking at the trades reported here on LSE, since the 1 trade there have been roughly 100,000 sold and over 2.5m bought, but I bow to your superior knowledge on such matters. Sorry to be so facile.
...at 13:25, followed by a sea of blue. RNS incoming tomorrow?
"The effect of the proposed Consolidation will be to reduce the number of issued ordinary shares in the Company by a factor of 50 whilst increasing the trading price of each Existing Ordinary Share.
The Board considers the Consolidation to be in the best interests of the Company and its Shareholders. It believes that the effect of the Consolidation will be to improve market liquidity by reducing the volatility and spread of trading activity in the Company's New Consolidated Ordinary Shares and make trading in the Company's shares more attractive to a broader range of institutional investors and other members of the investing public, both overseas and in the UK."
This is from OXB's RNS of 4th May, 2018. See
https://www.lse.co.uk/rns/OXB/proposed-share-capital-consolidation-xrvbadp9b9ihh4g.html
Anyone notice the similarities? The reasons given are broker speak for: "Like it, or not, this is happening. Put up, or shut up, but we have the votes and clout to force this through." And their bully boys - "London?anker" for one - are out in their droves to whip the masses into line. Just IMHO.
Seems to me the only person "ranting" on this board (with 9 posts today, already) is you SCHeckler! I'm reminded of Steady Danny, who has mysteriously disappeared. Perhaps a reincarnation?!!
SCHeckler, you could have just said 75%. ?anker.
OK, Wolfie, don't get out your pram.
In fairness, Wolfie, two wrongs don't make a right, plus the two examples you cite - Apple (a $2.85 trillion company!) and Ceres (a GBP1.21 billion company) - are hardly comparable to Sareum (current market cap. GBP124m and falling fast). I'm voting for consolidation, but I don't dismiss out of hand the views of those shareholders who will vote against. I think they probably feel hoodwinked by PH's appointment (which has done sweet foxtrot alpha for the SP) and see consolidation as a further attempt by PH to squeeze more money out of the company, and thereby shaft the innocent PIs. To ask how much this is all costing us I don't think is unreasonable. It may be "buttons" to you, or Apple Inc. for that matter (lol), but to Sareum PIs, who have seen the SP fall by 60% in 6 months, it's of interest.
"Stephen, Michael and Clive provide the Company with a wealth of industry and corporate finance experience." Wow, OK! Didn't they see PH coming in that case?
MrIndia, I view the arrival of these types of posts/posters as a positive. Paid derampers are commonplace on AIM, often appearing just before positive news is released in order to fleece the weak hands, spreading their fear and uncertainty so that their paymasters can hoover up shares on the cheap. Seen it many times over on SAR. I just think we need to sit on our hands and wait for news (which I'm fairly certain is imminent). AIMHO.
So, just for the record, I have huge respect for both TM and JR, as scientists. I actually think JR might be a better spokesperson, particularly when discussing the science and IP protection (he seems to drive the various patent applications). At the Edison Open House event, it was clear that Tim was reading from pre-prepared notes, and quite probably had been given the questions to answer in advance. I found this a bit feeble for someone so important within the company. One would have thought he had all the information in his immense brain and not needed to resort to notes. But hey, what do I know? But, no, Azz, I certainly want TM and JR to continue what they're doing, but perhaps give the public performances to someone less gauche and awkward. Just thinking aloud...
Just thinking out loud here, fellow Sareumites, so forgive me if my thoughts are a little jumbled. But:
1) On 6th August, 2021, we closed at 9.75p. Hurrah! Since then the SP has declined 6.1p, or 62% (coincidentally, almost the exact level associated with a fibonacci retracement - 61.8%). Are we, therefore, in oversold territory? Can we expect a fairly sizable rebound? I obviously hope so!
2) On 29th October, 2021, Peel Hunt were engaged as Joint Corporate Broker (no reason given, and somewhat strange given that we already had Hybridan in said role). The SP at the time stood at 6.65p. Since their appointment, the SP has declined 3p, or 45%. This, I'm afraid, does beg the question: What on earth have PH brought to the table, apart from a wealth of pain for shareholders? But it is what it is, I guess.
3) On 23rd November, 2021, Stephen Parker bought shares (a paltry, but welcome, 277,777 shares at 3.6p) and the SP spiked (as did the volume - interestingly, for the 2 trading days prior to the announcement and for the 3 days subsequently), finally peaking at 6.15p on December 1st. Since then, the SP has given up all those gains (a decline of 40%) on very thin volume (most days on volume of less than 10m shares). This absolutely reeks of manipulation.
4) Finally, on 16th December, 2021, we had the AGM statement, in which was announced the board's intention to consolidate the number of shares in issue. No details, no date were given, heralding another SP slide from 5.2p to current levels (a decline of 1.55p, or 30%). Coupled with the recent 'warrants debacle' (see both of the 28th January, 2022, RNSs) I'm left wondering if my investment is in safe hands? Like many here have said, the science appears cutting-edge but do we need a more inspiring mouthpiece to 'clinch the deal'? TM's performance at the recent Edison Open House event was cringe-worthy in the extreme.
My conclusion is that I've been here so long I might as well hang in there for now, see what transpires post-consolidation, but I can't help being a little baffled by all the SP erosion, and the apparent lack of direction or pertinent news.
MrIndia, you'll be welcome at my party should we hit 20p let alone a pound. GLA.