Member Info for Glib

I can see why the SP has fallen.

Seismic scanning and analysis is underway;
Exploration drilling on track to start mid-May;
The drilling contractor is happy to take part payment (3rd hole) in shares and also give an option to drill a 4th target for shares;
If exploration drilling is successful and moves to appraisal well drilling, they are saving about $500k and advancing the appraisal program by 3-4 months - completing this year, before moving on to the advanced engineering and test studies next year.

Outrageous!

We have 182m shares in issue.
Market Cap is approx. £180m

Contract is for £374m?
And is this each quarter?

Not to mention this is only one of the irons we have in the fire.

Surely around £3 SP for this contract alone. If we get confirmation of the other contracts...

I've just been wondering how they keep the trucks on the road when they're filled with all that Helium.
Do they need to weight it down, or attach a piece of string for safety putposes?

Dammit. The one good piece of news on my stocks and I was too busy working to enjoy it.
I wonder how much of that spike was shorters making a run for it.

Month end, we get a trading update too. It will be good to see how much progress has been made.

[SYME has since been in regular communication with the FCA in support of the regulatory steps and due process required for the lifting of the temporary suspension.]
Regulatory steps and due process. This seems to me more a case of nothing wrong with the company - the FCA are checking that the regulations and processes for a new asset class are in order. As this will be dealing with funding and inventory from multiple countries, it's little wonder that it may take a while to ensure everything is in order.
https://www.fca.org.uk/markets/regulation-markets-financial-instruments

[The Company is aware that this has taken longer than expected. However, the temporary suspension has not impacted SYME's inventory funding routes and the related commercial activities which are continuing simultaneously across the several operating geographies.]
So the FCA have not flagged up any issues with the open, self or captive funding routes. They have been looking at this for a while, so no news is good news there. I would assume that the commercial activities will not include due diligence checks until the first transaction has gone ahead, so they are continuing to look for funding sources?

I didn't expect an RNS but good to see communication is coming from the company. I believe we will be back once everything has been looked through or tweaked to the satisfaction of the FCA.

We are not sure when it will be relisted. We are waiting for FCA to give us the go-ahead to start trading again.

SYME requested trading be suspended while they got the accounts audited and published. This has been done.
SYME requested we resume trading. As per the last RNS, this is taking a little longer as the FCA are checking the RTO and everything else that has happened in the last year is in order. We would be notified if they had found any issues, so we just need to await confirmation.

The first transaction was delayed by 3-4 months from the end of September according to news in July. That would suggest the news is imminent, although the time estimate was 6 months ago. The delay was due to Covid and things were not expected to improve much over those months.

I have no idea when trading will resume but am hoping it will be accompanied with news of the first transaction completing.

I haven't been able to find any similar instances of RTO's suspending to publish reports to use as a comparison. Will keep looking though.

SYME is only listed on LON stock exchange.

When they did a reverse takeover into Abal Group, the ticker ABAL was removed and replaced with an ID IE6B.
You are seeing the holding ID for the Abal data - some websites have linked this to Supply@me. This has nothing to do with SYME, so can be ignored.

We don't know when suspension will end.
We have been advised that SYME have requested trading resume with the regulator, but that is all we know for now.

Not necessarily an expensive lesson.
- You are not TW - good to know. He has a habit of writing articles that are based mainly on opinion rather than fact and tries to create 'conflict' for entertainment purposes. It's how he makes his money.
- The FCA will not be able to tell you anything in the short term. If they are looking into SYME, they can't tell you until the investigation is complete. They can't be seen to be starting rumours etc.

I doubt this is a scam. Although it is a risky share, it's not just about to disappear (in my opinion).
They have done alot of work to try to bring a new financial instrument to market. Companies with stock, but low cashflow will be able to get cash in exchange for stock. When they sell the stock, they can repay the investment note. Have a look on youtube for some videos on supply@me.

You won't be able to do anything until trading resumes so no point worrying about something you can't do anything about.
An ex DFW

Or SYME have asked to resume trading, but FCA are checking everything is in order before doing so.
If they have told the company the reason for the delay, the shareholders should also be told.

A man down after 3 minutes. That was always going to be tough.
I feel sorry for the lad - a rush of blood in his first Premiership game.
He had to go though - If he had connected with the knee instead of the thigh that was a career ending tackle.

With SYME releasing a new financial instrument, do they need to do anything to comply with the change of legislation due to Brexit, or has that already been done?

Thanks Rebel. That was the doodah.

Yeah. I think banks are allowed to loan out 30 times their book holdings.

I think readmissions are at 07:35. Not sure where I read that but either FCA or LSE website (the proper one)

But is the argument against shorting not because the Real Estate Agent Sold you a house, which you paid for and own; then rents out your house to someone else without your permission and you see none of the benefit?

SYME is not under investigation by the FCA.
There must be something being looked at though.
I am hoping it is the introduction of a new asset class.

The latest RNS stated a "three to four month delay that SYME announced in July to its initial end September forecast"
So that means first Inventory monetisation should be due roundabout...

Nope.