Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Afternoon all. 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.
Determinator.
The purchase of Tradeflow appears to have been 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.
Elite.
The company is silent because it costs hard cash to promote it on sites like Proactive. Cash they dont seem to have. Maybe why they’re advertising for new secretary?
Interesting times x
Great work Hughez.
Agreed. LTH’s averaging down and new PI’s will be throwing money at SYME come Wednesday. Hence Mercator will be holding off selling to many golden tickets until Thursday/Friday, so I expect the sp to rise till then.
That’s why Wednesday is celebrated as ‘Happy Mercator Day’.
I’d give you the benefit of the doubt that your paid for this sh*t, but I think your now becoming an embarrassment even for the rampers..
Hey Spotty.
You ramped this up then sold out. You bought back in again? I do hope so.
A big UP YOUR GUTS to your mate The Real Deal/Exo. Give him my regards will you. Ask him how the purchase of £400K’s worth at .55p straight after suspension is going. I think the whole of LSE is still laughing at that one. PMSL.