Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
@ddubya: No I don@t want any more communication from Brian Tenner - his communication in the past was wildly misleading and deceiving.
All I want from him are results and clear, unambiguous RNS - nothing else will restore some degree of confidence of investors in him and the BoD.
@LordWM: Pray do tell me what research you want to share with others? Are you referring by chance to the Edison “research” commissioned and paid for by Nanoco?? If you are let me advise you that this is not even worth the paper it is written on and can be very costly.
Let us recall these wonderful statements in past Edison reports about the lost business to Nanoco of ca USD 150m for the US alone and that this would represent only one third of the lost global business for the past!
Tenner must have read the report and the debates based on this “research” on this board and must have had a good chuckle at the poor fools who paid any credence to this narrative.
Nah dear LordWM I prefer fairy tales to this kind of research.
@bonzoful: What do you think of the board? What do you think of the communication to investors and promises made by the CEO to retail investors? Do you think as a retail investor one should just shut up/pipe down if one feels/knows that you have been taken for a ride?
@NGR: I was (and am still) working in institutional sales and client relationship roles and can assure you that I have sat in enough mandate review meetings and quartyerly review calls with clients whether they were/are pension funds/insurance companies etc to have a good insight how equity and fixed income portfolio managers tick.
Again to me all points to LOAM knowing something more than the rest due to their massive offloading after the first RNS.
After all the hype that Tenner had produced and not deflated he and others must have known what the share price would do after the first RNS.
Anyway whether anything can be proven is up for debate but the whole thing smells.
@Nanogeddon: Thank you for putting it perfectly and simply.
@NGR1616: I have worked in asset management for ca 20 years and my career was spent at some big and prestigious houses, ie asset managers with over USD 250+ billion in AUM so just cut your patronising crap.
What I pointed out is that after the first RNS where there was absolutely no hinty given what kind of settlement Tenner had accepted that LOAM hit the sell button hard (!).
Now taking some profits off tyhe table is what professional fund managers do - however the speed and colume with which LOAM did so after the first neutral RNS does raise some serious questions about whether there was, let me put it diplomatically, an information gap between retail shareholders and one institutional shareholder.
If there is ground to suspect that specific market relevant information was shared in early January than the FSA (if it is taking its role seriously) should investigate.
Clearly TH and some others think there was some underhand dealings.... see the law suit he is now undertaking and I don't think he would lightly undertake such legal action.
@ecclescake: Nope, I am just drawing very logical - if slightly cynical - conclusions from everything. The wording of the first RNS was perfect in driving the share price up and thus giving LOAM the perfect opportunity to get out very profitably.
One could not have engineered things better.
Hats off to Tenner and LOAM.
Ecclescake: Based on the first now infamous RNS given all the prior communication an experienced fuind manager would have sold some but retained the majority as nothing absolutely nothing pointed out to the fact that Nanoco had sold out the IP and past and future damages for bread crumbs.
@ecclescake: Please be serious here. Based just on the first RNS some profit taking by LOAM and others could be expected but not the concerted sell-off by LOAM. You still need to believe in the tooth fairy to believe that everything was above board.
@peregrinetrouser: I am in a similar position like you and here me honest observations/remarks.
Do not blame yourself to be "too trusting". Like you I had noticed the LOAM sells in 2022 and was a bit concerned by these for two reasosn. First of all I was asking me slightly whether LOAM had knowledge that others wouldn't have given Henry Turcan's involvement... Secondly, I was worrying by just having so many shares that if LOAM could drive down the share price for purely technical reasons.
However what you and I had not assumed that the CEO was basically intentionally misleading and massively overramping Nanoco. Even if you can except a little bit of froth from a CEO about his/her company you and I others can expect a CEO to honour his words given in a presentation to investors that he will not agree to a settlement that would not result in a multiples of current value.
Apart from that Tenner knew that an equity raising at 37p would be considered by many as the base line with regard to value after the settlement.
Also the equity raise was done to be fully funded and not to be under preasure if Samsung tried delaying tactics with appeals etc - this is how Tenner sold it to investors.
Let us face it: Tenner and the BoD are morally corrupt and morally bankrupt and the sooner Tenner and Richards are gone the better.
I think one can only applaud this move against Lombard Odier Asset Management. The EGM was an attempt to hold Tenner & Co to account. It failed but that was more due to apathy rather than there not being a case to be made and heard.
If Tenner and LOAM have nothing to hide they should feel very comfortable to appear in court.
@NGR: The person that ramped and pumped was the lying and deceiving CEO of Nanoco.
@NGR: I think apart from Brian Tenner and Richards you are the only one of this opinion. We got the breadcrumbs of breadcrumbs from the table of Samsung. It also stinks to heaven that Tenner saw all the media reports stating USD 500m as a potential sum (this amount was stated twice in The Times) and he didn't do anything to guide to a much much more modest range which by that time he was happy to accept.
This together with the Edison reports - commissioned and paid for by Nanoco - gave out entirely different and in the end highly misleading ranges.
Tenner has systematically and intentionally misled and deceived shareholders and if this man had only one single ounce of integrity he would step down - but he doesn't and this is why shareholders need to push him out in 2024 by the latest.
@NGR: One needs to be severely myopic not to see the fault with Brian Tenner.
Let me recount here in short:
1. Conducting an equity raising at 37p whilst he and the board must already have known that they would be willing to accept a low amount as settlement from Samsung - one that would never warrant an equity riaing at a price level of 37p
2. Lying barefacedly at shareholders by stating in a video presentation that he would only accept a settlement from Samsung that would be a multiples of value - this at a time when the share price was much higher than it is now
3. Paying for research from Edison where values for the US part (we are not even speaking here of the global part) of the damage were stated that were so so much higher than Nanoco accepted.
So let me repeat it here clearly: BRIAN TENNER AND THE BOARD OF NANOCO HAVE SYSTEMATICALLY AND INTENTIONALLY DECEIVED AND MISLED SHAREHOLDERS. NO ONE CAN AND SHOULD TRUST THEM AGAIN.
@NGR: Brian Tenner is replaceable - the CEO of a major asset management companies used to say "The graveyards are full of irreplaceable people". The notion that no-one can step into Tenner's shoes let alone do a better job than Tenner is ridiculous. Nanoco has other executives that can quickly fill in a new CEO on the state of things....
I don't think Tenner merits staying on for much longer due to his systematic deception of shareholders in 2022 but grudgingly I will give him another 6 months to stay in the post.
Oh and before you and others point out that the tenure is not in my hands as an individual I am fully aware of this but collectively the shareholder base has the power and if it becomes apparent that the ever so imminent commercialisation is just another empty Tenner bubble you can be sure that he gets booted out.
LordWM: I wouldn't but I also note that surely if they (the directors) wanted to they could have found a window between Feb 2023 and now...???
...as the broad market by refusing to buy in at the lowly price of 17.6p shows clearly.
Even the very optimistic and excited board does not seem to be able to find GBP 20k or so to show their confidence...
@Trickymatters: The only one embarassing him here is you by categorically refusing to acknowledge that
a) the Samsung settlement was woeful - and on top of that light years away from all the noises and promises that Tenner made
b) the brazen attempt by management and board to pretend that the settlement was satisfactory
c) that the broad market is in agreement with troublesome's and my assessment of the past and present situation.
Again what the future holds neither you nor I can predict - but you should maybe understand and accept that many shareholders have for very understandable reasons have become more sceptical and distrustful of Tenner and the board.
@Troublesome: I rather like your short sayings.
Is the latest one an allusion to Charles Dickens… I was just wondering…
Right now I can offer another one up:
It was the best of times*, it was the worst of times**….
*Tenner & Trickymatter, Intrusivethought camp
**Troublesome & Henry camp
@Tricky: You are a complete and utter joke. The total amount that Nanoco will receive is absolute peanuts for the commercial gain that Samsung had from “borrowing” our technology. A very large part of the amount that Nanoco will receive is also due to a sale of IP - so not even on that should we crow about the amount.
Oh and just look what the share price looks like - it totally cratered you half wit. So whatever we receive as payout next year as dividend is actually not really compensation for the real or paper losses that many people have suffered.
Oh and given that the price is so low where are the director buys …. where are they? Where is a buy from LOAM??
Anyway Tricky please go back to your cell and put the straight jacket back on.