The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I would imagine it could only be cancelled by mutual consent, Lanstead have possession of their shares and given we are already several months in based on Five-o's thoughts they have probably already begun selling and we don't see the notifications. I would imagine any exit from that contract would cost the company $$ so it will have to run it's course. Roll on Sept 2025!!
Let's hope we get some decent news over the next 18 months to keep the SP bolstered. The other thing to remember the BCM deal is aimed at the project level. The Lanstead deal is at the TopCo.
So at the moment BCM funds exploration and Dev on 2 Cameroon licenses & Lanstead is meant to keep the staff and leadership team and company administration funded.
In theory if it all works well we should see no further need for raises until at least Q4 2025 by this stage if the BCM deal works it could be very possible that they are ready to start mining one or both of the 2 Cameroon licenses.
Thanks Five-O I will try ands do some more research into this. A quick query on Chat GPT alluded to this interpretation of Rule 17, which to me makes sense otherwise the shareholders register is never going to be up to date?
Certainly. The requirement for shareholders to notify the company of their shareholding changes on the AIM market is detailed in the AIM Rules for Companies, specifically in Rule 17.
Under Rule 17, any shareholder who acquires or disposes of an interest in shares which takes their total holding to, above, or below 3% of the voting rights, must notify the company without delay. This notification requirement also applies for each 1% change in shareholding above the 3% threshold. The company, upon receiving this notification, is then required to promptly announce this information to the market.
This rule ensures transparency in the ownership of public companies on the AIM, providing vital information to investors and maintaining the integrity of the market. It's a part of the regulatory framework designed to foster investor confidence and market efficiency.
As i understand it from the main market , I know ORR is AIM but in the main market a shareholder has to notify with a TR1 for every 1 % movement above 3% so if Lanstead was selling down they would notify until they went below 3%
I haven’t searched for this on AIM as I just assumed it would be similar so good to know if it isn’t.
I saw this happen with AMGO when one of the ousted directors publicly stated that if he didn’t get what he wanted he would sell 1% of his holding per day, which he did and every day there was a TR1 with like a 3 day lag since he has 3 days to register the sale of asset. But once again this was the main market!
Hey FiveO how do you know the TR1 doesn’t apply to Lanstead. That’s an interesting point. I’m curious as I see them just like any other Shareholder whether they are classed as an institution or a PI.
I figured yesterday the sales made sense if it was them. All round numbers. But I figured they would need to sell about 38m + to trigger a TR1. Bit naughty if they can sell down their holding with out declaring it. Particularly as they are now the largest shareholder. How would the ownership register be accurate without knowing this?
Thanks Loc123, Luton &Jonhb.
Been patient for 3 years so will sit it out I guess. I was tempted at 0.0008 (if that is the correct amount of zeros) to liquidate and stick everything in ORR but I didn't get around to it and we dropped again. I'm also probably way to over exposed in that one too!! C'est la vie.
For what it is worth I don't think AZ is a fraud or set out with the intention to defraud folks. Whoever valued the biz at 200m+ may have been out of their mind for the original listing but it is what it is. I put my money in took my chances and I appreciate the old saying the market takes from the impatient and gives to the patient. Just not sure what the definition of impatient is these day :o) all the best everyone and I hope everyone has enough in their wallets for some Turkey, Trimming & stocking fillers this year! Nut roast if you are a vegan - each to their own!
Looks like 10.5M shares & £16k sold this morning in just over an hour. Wonder is that to cover the Orr & Lanstead Christmas party!!
That's a joke BTW. Although does make sense for it to be Lanstead anyone as a PI who has held for any length of time would be risky selling out now. But I also get it that folks often need money around this time of year for Christmas!!
Let's hope Santa delivers something decent for the LTH here!
Hey look at the end of the day. I want the company to succeed. I have (had) a lot of money tied up in this. The emphasis on the past tense being that my investment is worth 90% less than when I started and has been diluted more than my Ribena. I respect the opinions of those who are firm believers in what the company is doing.
From my perspective I would like to see definitive progress, sure the first IM was positive. I was hoping that was the catalyst for more snowballs. Then I noticed it doesn’t really snow that much in Milan!
As I understand it the platform has been built an operational for quite some time. I think Savvy’s point is valid it would be good to see an operational platform update which is why I keep asking the question to see where the “client portal” is.
If the “twat” comment is directed at me, that’s perhaps a little harsh but you are entitled to your comment. I barely post on this thread. I think it’s fair after 3 years of investment (this week is my 3rd anniversary of first buying in) and constant confetti issuing (warrants etc) to want some answers about when this thing “flies”. There comes a point where if everything is built and given market conditions of high interest rates, banks making it tricky for businesses to raises funds and SYME still can’t seem to onboard the expected number of clients to make this thing a success. Then one has to ask what is the reason for why this hasn’t taken off! Is it because the “world is stupid” and just doesn’t get this amazing revolutionary solution. Or has SYME just built a solution to something that there was never really a great demand for?? I hope both of these are wrong. Typically in the fintech world if the next big thing is coming then everyone wants to get in for FOMO.
I invested a lot of money because I believed in all the hype read the research work that was done which the company acknowledged. Watched all the investment pitches, proactive interviews etc on YouTube. I will say there seemed to be a lot more bravado back then from what I see now. But then I did kind of bottom drawer this over the last 12 months! So I haven’t followed the Alessandro hype train much this year.
Anyhow Happy anniversary to anyone else who got in around this time of year with a .58 average !! :o)
Well Latino what's more insulting to me is the share price. My average is .58 so that's 90% down . With a significant holding in this company it is difficult to be positive all the time given what has gone on. Are opinions (which are like ar5h0les) only reserved for you?
In three years of investing I have seen much in the way of professional conduct from the business
1, inaccurate comments from the CEO about progress
2. Terrible business admin resulting in a suspension from the market
3. Late RNS filings
4. Acquisitions that have cost millions in MCAP and business value
5. Promises but very little in the way of delivery.
The website doesn't look professional for a company that has a MCAP £36m launching with a MCAP in multiples of this. The CEO's conduct has been less than desirable of an experienced CEO for a public company.
Also I'm not sure what the security risk is displaying a client login portfolio multiple banks and business do it, even the fabled Tradeflow!!
Thanks for the link Savvy appreciate it but I couldn't see a publicly facing URL that would demonstrate the online client portfolio. This just appeared to be a demo which could essentially be a few wireframes. I've asked the company to send me evidence of their client login page but it always gets zero response on that request. I have asked the question at Q&As and it never gets put forward. I also ran some web crawler tools on publicly facing URL's under their domain and cannot find anything.
So unfortunately I do remain somewhat skeptical.
Here is a thought I raised a while ago, if SYME has a platform with actual customers on it, where do said customers login to manage their portfolio? There is nothing on the SYME website (which looks like it was designed by a 12 yr old on WIX) even when SYME owned Tradeflow they had a "client login" area on their web site. SO is this another potential red flag or can someone point me to the client area of SYME?
Yeah noticed the price jumping around a lot. I was saying to Kutzz last week if the price dipped back down again below .17 I would buy more and sure enough it has done over the last couple of days. So far I haven't had any issues buying, have been getting decent quotes from my broker.
Well the way I look at it. I first bought in 3 years ago at about .55 we had a few shenanigans back then it went up for a bit. Then a speed bump and back down. I sold some and then bottom drawer the rest.
After the April RNS mentioning the chair’s investment, I really started to add. The rational was that I don’t think the chair is in this for a “quick” buck! I think I had more or less stopped adding just before the Lanstead deal hit. Truthful I would have been still been nibbling. I did not add any further when this hit .008 that was due to some apprehension and probably like Kutzz too much exposure.
After the RNS this week I have added at the .17 / 17.5 level. Rational again this is close to where the Chair made a significant investment . Obviously the BOD don’t have a crystal ball otherwise Eileen would have got double bubble for her money 2 weeks ago! I suspect some deals were close and didn’t make it. However, for someone as an accountant (accountants by general are mostly cautious people when it comes to money) to drop that level of investment as an insider it is still a very strong and compelling statement. All of AIM can be considered a gamble, when I bought my confetti here I knew that but it feels a little bit better to know the insiders have a decent amount of skin in the game. Before Lanstead that was quite significant. I know (because the market told me) Lanstead wasn’t popular but.. the BOD have now (almost) done 2 major deals in the space of a quarter.
Without doubt these deals will be transformational for ORR. Part of the reason I invest is for a bit of excitement and to secure the future of my family. Over the past three years being invested in this company has been a tad bORRing :o) At least I can’t really say that anymore. The JV looks interesting hope they get it over the line. Tim always said ORR are exploration team. Their credibility as geologists cannot be contested, add to this a JV partner that actually mines and this really really becomes an interesting prospect. In the words of a great philosopher “Rodney, Rodney This time next year…..”
Hey Coyote if Orr can turn this HoT into a binding contract this would put them way ahead of many of the struggling juniors eh? Hopefully that should drive folks towards this company. Obviously as explorers still risky. However, good to see Eileen has also worked with this company before in a previous life.
Yeah I was hoping they would have done a proactive interview as I think this would have got more exposure than using their PR consultants. As of today it has only had 169 views many of which will have came from this BB. Hopefully this gets more exposure and shared more on X. Definitely good news to be singing from the rafters, given how tough the overall market is for juniors at the moment.
Ouch Coyote 2020!! :o) I guess I’m one of the holders you refer to with 10s of millions. I don’t think I’ve overly bashed the board but to say I wasn’t slightly concerned over the last few months would be an understatement! The news today is a real positive step. It’s still only A HOT arrangement but like you say at these prices, this is the time to make money of money can be made here. Once the binding contracts are signed these prices will be a distant memory. On that basis I took a few more at 17.5. I could have taken last month sub 10 but with my current exposure couldn’t risk it. Good luck all!
Yeah let's get real here .3p would be fantastic.
3p given the number of shares in circulation 3,864,539,005 would give a MCAP of £115M we need more news for that but today is a great start.
.3p would give a MCAP of 11M which for now would be great and benefit the Lanstead deal.
Yeah I'm with Kutzz on this. Been in this too long to take a quick profit out. We have questioned our sanity many times over the past few months. Glad to see Eileen get in the blue! Also great to see that she has worked with the JV partner before. That information coupled with her investment is a solid sentiment that bodes well for the company. The BOD have taken a fair bit of Schtick over the past few months. Let's hope they get the credit they deserve if this is the start of a decent re-rate. If we can reach a base at .3 until next news flow that would really turn the Lanstead deal around too!
Coyote I would hope it would give them a balanced view. There are folks like Mr Positive (who churn out happy thoughts) although I haven’t seen him in a while. There are others who go to the opposite. The level of dilution has more of a bearing on the share price than any persons comments. For example if one wanted to exit on a 1p in 2022 the Mcap was much different to what it would be now. That’s just a fact. If anyone were to base their investment on the comments on this forum I kind of think they deserve what they get. But I do get the sense you would like to pedal out an all is rosy narrative perhaps to trap others into being in the same club. I don’t really advocate for that. I took my position with the knowledge I had. I’m not really complaining about it. Do I think the BOD has a mountain to climb for sure. Can this be turned around I have 80 million reasons to hope so :o)
Coyote (I could hazard a guess at your identify by the way you write but I won’t) it sounds like you want an echo chamber to just spread the news that you want to hear. Last time I checked this is a public forum where everybody from the invested to uninvested can write their thoughts. Although I’m not sure why the uninvested would be that bothered about a particular stock. However there are no rules to stop them doing so. The current SP is reflected by the activities of the company. There was an orchestrated pump and dump a few years back which we never recovered from. There have been several raises (which is the nature of junior mining) in April Eileen took a major stake which was admirable. Bod continue to take salary sacrifice also admirable. Many of us increased our positions around the time of Eileen’s buy in. The success of this company relies on 2 things. 1. Keeping the money coming to do the work. 2 the results in the ground. Number 2 relies on number 1. If number 2 has the fortune to yield good results then the SP will reflect this. A bunch of arm chair experts with kooky website handles for names isn’t really going to do much to the share price. Let’s face it most of us on here have no idea about Geology or the business of running a mining explorer biz. Ultimately if people want to let off some steam here I see no issues as long as it doesn’t go down the route of personal attacks. I don’t think anyone in the business is out to do a bad job, it’s just a tricky time and the Lanstead deal probably reflects that. I’m guessing it was all they could do at the time.
It is also not unreasonable for people to question the activities of leadership to bring in the desired results. There has been a lot of talk for many years now 2024 has to be the year where something material has to happen in Senegal for instance. If nothing material gets done with that asset then the SP will tank further regardless of what anyone says on this forum.
I was thinking of trying to put on a concert for Orr. All those concerts for Africa did really well at raising money like Live Aid Band aid etc. Chuck a few confetti in Geldofs direction and we could be off to the races!!