Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I guess what we’re all waiting for, is for AZ to re-invest some of the money he’s taken from SYME and reinvest it back into the business. But bearing in mind he found ways of not issuing a TR1 for the sale, I doubt you’ll see one for a re-invstement!!!
“ Last year was a difficult for SYME and there were a lot of challanges that almost knocked us out,. Ut we are still here. Tesla would have gone bankrupt in 2008 (me thinks) had Elon not put in his last $23million from the money he made selling PayPal. They were only a week or two away from closing doors with only a couple of Tesla roadsters having been made.
Apple again was four weeks away from bankruptcy- had Bill Gates not invested $100million Into Apple when Steve Jobs came back.”
Correct Max. So hopefully for you AZ will take some of the millions he’s already made from SYME and re-invest it. But as yet there’s no evidence he has the confidence to do so.
Max.
Agreed. On the Spreadbet part. It is similar to Casino gambling, and as I said, doesn’t have any affect on the share price, unless the Casino gets overly exposed one way or the other and hedges on the open market. Don’t know if they do this but it’s what I’d do..
Don’t agree with banning shorting per se. It can prevent a company from becoming overvalued by exposing their stock as to high. This in turn can help investors in alerting them into buying into an overhyped stock. Case in point.
Lucky. I had a ‘short’ with Spreadex. At the time I shorted it, only around 8% of ‘punters’ held short positions, while 92% held long positions. It’s probably why 70% or so of spread betters lose money as they tell you on the website. Either way, this type of shorting does not affect the SP and if it did, it would be for the positive in SYME’s case. At time of selling I believe only around 4% were still short.
Pontiac. There still appears enthusiasm among PI’s to buy. Couple this with a large seller offloading CLN shares. So on the basis there is no shortage of buyers, especially at ever lower prices, if Mercator stop selling for any sustained period it creates a spike allowing them to offload later at a higher price. Simples.
Another thoughtful and researched post from the captain. Thank you for providing such a thought provoking argument to my post. And for reference, I don’t care for you and your ilk. Apologies if it appeared I did!!
One lump or two?
In a nutshell. At RTO, SYME was given a valuation of £224m. The reason for this massive valuation and who valued it is still unknown, bearing in mind SYME had no proof of concept, no clients and no funder. But it did allow SYME to issue 32b+ shares primarily to the founders allowing them (AZ and DW) to offload £40m+ straight after listing following which around £22m was written off on the balance sheet as goodwill. Following this, AZ and DW have loaned/offloaded billions of further shares in a sequence of inter-party trades to the point where no one really knows who owns what any more. The fact that only 4.6% of the shares were used to vote in the last AGM is maybe a fair indication of how many are still held/controlled by AZ and DW although AZ gave his reasons why his alleged holding didn’t vote (if you believe them then I guess your a holder).
Some would argue that the £224m initial valuation was where a scam/fraud was conceived, and that the subsequent RNS’s linking it to various banks and finance institutions (Quadrivo, Captive bank, Fintech bank), trade bodies (DP world, ICC), multinational companies (Carrefour, Rolls Royce), references to Nasdaq etc is just smoke and mirrors to allow further offloading of shares and opportunities for the insiders to further enrich themselves.
I have previously addressed the Tradeflow problem, but again it appears an overvaluation of £31m has allowed further shares and monies to be transferred away from SYME for the benefit of insiders and detriment of ordinary PI’s.
But for those asking Castle and others “where did the £224m go”. It never was £224m but a large portion of that is now in cash, AZ and DW’s hands, all paid for by ordinary PI’s.
All from what I can understand. Others may have a different view.
Hughez. Sorry for the late reply, but been busy all day.
“ Holly there is no reason why Tradeflow and SYME won’t be involved in this”
This is the problem with the rampers arguments. They will take any little tweet/link shared by a paid employee of a company and take it as proof. As a sceptic, I would always look for the evidence that suggests they are involved. This is how suckers are lured into these types of shares and used to promote this rubbish. People like yourself, LSEking, Elliete? SteveK, Jonah, Josh, Peak, Exo etc.
Glyn. In short, No. Other than someone paid by Tradeflow tweeted a link. That’s normally all the rampers need to suggest a multi billion £ deal is imminent. But wtf do I know eh?
Come on Glyn, this is obvious stuff. The link references SME’s. The word SME contains three of the letters of SYME in exactly the correct order. proof enough that SYME is ready to fly! ;-)
Gotham. Maybe you should try posting something positive, truthful and original. Or even a counter argument! I appreciate this is a tough ask and would go against the grain, but hey, worth a try (thumbs up emoji).
I see the usual snowflakes got my first post removed without supplying a counter. So;
Posted before but worth further thought. The purchase of Tradeflow appears to have been just a sticking plaster to avoid a going concern issue at last years accounts. Having used a CLN to provide the capital primarily for the purchase of TF, AZ has given himself an even bigger headache.
If, as Bull’s suggest, TF are a fantastic addition to SYME, hitting targets (no detail via RNS of what the targets are), then by December 2023 (20 months away) SYME are due to pay the purchase balance of £24m (£1.2m per month) whilst at the same time dealing with the remaining CLN payments. Of course the agreement was in cash or shares, which at todays SP would be giving the TF boys around 40% of the company in shares, but obviously the SP will continue to drop into each conversion so probably more.
On the other hand, if TF are not hitting their targets, then SYME are in even more desperate need of gaining income from whichever revenue stream they can just to keep the circus on the road. Unfortunately over the last 6 years AZ has failed to show any form of his ‘new asset class’ actually works and I see no evidence of that position changing.
Tom James may be an academic (written 9 books apparently) and industry expert, but as shown by Tradeflow’s predecessor, Navitas Resources, he has not, as yet, shown he can run a company that generates sufficient income to remain solvent. His greatest feat may well be getting SYME to pay the equivalent of £7m for TF. The devil will be in the detail of the purchase agreement. If SYME are unable to pay, and break the contract, then who knows what could happen to TF.
Interesting times ahead.