George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
“LTHs need to stop saying "have faith" in a company, as that is a guaranteed way of losing capital or holding paper losses in these types of plays (personally, I only have faith in god)”.
I put my ‘faith’ in people who are working hard for the company. I have faith in their experience and hard work, long hours, that Tom James has told me directly about. I have faith that he looked at Syme in great depth with dd and considered the profound move to Syme, after 5 years plus of building his company. I have faith that Collis agreed with him. I have faith that Jim Coyle has a professional background and ability in finance way beyond the average CV, in fact, quite exceptional. I have faith in Tony Brown when he tells me this is going to be a success but it just takes time. I have faith in many employees of Syme too numerous to go into here. I have faith in Linkedin that it is telling me the truth about these people when I look at their backgrounds in business. I don’t feel the need to phone up Lloyd’s or the bank of Scotland to ask if Jim was a good worker during his time on their Group Financial Controller and Deputy Group Finance Director. Not only do I have faith in the above, but rather than blind faith theirs is a proven publicly available professional track record.
It is painful at the moment, the paper loss is grim, the sp could go lower, the sp could soon go higher, ‘there is much work to be done’, how exciting, I only wish I could roll my sleeves up and get in there to help as well, I could wash the tea cups even! But, I personally have faith that all the above will turn it around. I don’t know when, sorry, but I have faith.
Na****012 "Or do you think he is going to drop everything else and fix SYME solely with his full undivided attention"....do you or anyone else who isn't him have any idea why he had taken this role and what involvement he has planned for it, or what remit he has been basked to reside over."
Oh na****012 I thought you knew all the answers yesterday...
"Positives, a good chairman, who's qualifications guarantee integrity and honesty, and has the ability to come to the rescue of all LTHs and transform the company. He is also extremely well positioned to lobby for changes to IFRS and make IM a legal true sale transaction. If IFRS15 was revised, you'd see a very steep increase in SP and interest in company."
When you change your name, go and look at some recent history, then we can talk again.
Nap012
So you are impressed with Jim Coyle…you said, “who's qualifications guarantee integrity and honesty”. You also said:-
"IM as a true sale is a myth, it is not a legal accounting transaction, it does not matter what the company, the business owner, SYME or anyone else tells you, come statutory account time, at this moment in time given current accounting standards, it would be re-classed onto the balance sheet as a debt transaction. Inventory loans are commonplace, and that this obviously this means that SYME's USP (unique selling point) is in fact nothing more than hot air”.
So despite all Mr Coyle’s many acknowledged achievements (HSBC Bank Board 2015- now, M&S Bank Board 2015-now, Board and SID of Honeycomb Investment Trust 2015-now, Scottish Water Board 2016-now, Deloitte Oversight Board 2019-now , World First Board Chair 2017- 2019, Lloyds Banking Group 1991- 2015, BP Group 1981- 1990 and KPMG 1977- 1981. Fellow of the Chartered Institute of Bankers in Scotland and a past member of the Council of the Institute of Chartered Accountants of Scotland. Former Chair of Worldfirst , sat on the Board of the Scottish Building Society, the Board and Chair of the Audit and Risk of Committee of Voca Link Holdings Ltd, on the Board of Scottish Financial Enterprise and a member of the BBA Audit Committee and various FRC committees. He also sat on the LBG Scottish Executive Committee and sponsored the Contingency Planning Project for LBG on the Scottish Referendum. In 2012, he was appointed Group Financial Controller/Deputy Finance Director at (LBG), having previously been Divisional Finance Director, Group Operations. He was a key member of the LBG Finance Board, leading various projects eg IFRS and managing down the Group wide cost base. Degree in Law and Accountancy, Chartered Accountant with KPMG. 10 years in the oil industry holding senior positions with BP. He became Group Chief Accountant of Bank of Scotland in 1998). So despite one or two successes there you believe he put his whole life’s career and reputation on the line, at 65, to revise IFRS15 for a startup fledgling company where you can buy 5 shares for a penny and whose USP is “in fact nothing more than hot air”.
I think we know who is blowing hot air.
Napalm..Powdered aluminum soap or similar compound used to gelatinize oil or gasoline for use in napalm bombs or flame throwers ..40 years old, so too young to remember its use in war. I remember it though. Says quite a bit about you I think. Being a professional chartered accountant too...not sure that works. Do you think it impresses people in some distorted way? Strange indeed that a 40 year dynamic, chartered accountant, top of his game, at his peak, should care so much about newbies welfare on a share where you can buy 5 for a penny. So caring for you to devote your clearly valuable time to this cause. Do you also devote time to other delusional unfortunates in shares like this? You are clearly impressed with Jim Coyle though. I won't waste your valuable time here with a list of his achievements, as I am sure you know them better than I. As TB said, but you must have been too busy accounting to reply, would you, and other disruptors here, not think that a guy like Jim Coyle would have done due diligence with a fine nit comb on the Syme group? I would bet all my shares in this company that he was satisfied that they met the standards required. That kind of just impresses me a bit more than trusting someone anonymous on a poster board that calls themselves after a vicious weapon of war. More importantly, (as I of course couldn't give a monkeys what you think or believe, which is mutual of course I'm sure), that is good enough for me and my money. New people here I would strongly suggest you read all you can about the Syme group before you part with money. You will be an adult so good luck with your free choices. Take what I say with a pinch of salt and DYOR.
It really is best to ignore the non invested disruptors who are here to get your shares. Those who are new, you must do your own research and come to your own conclusions about the Syme group before you put your hard earned money in. For me, I remain impressed by the people who are working to make the group a success and I just think it's a lot of hard work and long hours they are putting in to achieve that, and I believe they are serious in that endeavour. That is why my money is still here. we don't really need good luck, we just need to give these highly experienced people time.
Parm...we know what type of individual writes.."This share seems to be on its last legs..." simply to frighten new and some lth people into selling. We know what the character of that person is. By writing that they demonstrate their total disregard for the hard working people who have put their money into this, and the concerns they have. They don't care twopence about that. They also ignore as inconvenient the truth of Jim Coyle, Tom James AZ and others working for Syme Tradeflow as it doesn't fit their single minded objective. They will be gone soon....and we will be in our broad sunlit uplands leaving behind low morality in the gutter.
For the new and the havering loon who asked that because Jim Coyle, “in that he’s getting on a bit”, (I reckon mid 60’s), “do you think he is having a punt due to the fact it means nothing to him, because I’m sure he’s already caked” (apparently ‘caked’ is slang this refers to the size of posterior? but I presume this reference can only be referring to his heels), anyway, in summary, just to bear these facts in mind when considering if he is doing this for a “punt” Jim Coyle HSBC Bank Board 2015- now, M&S Bank Board 2015-now, Supply@MECapital plc Chair 2021, Board and SID of Honeycomb Investment Trust 2015-now, Scottish Water Board 2016-now, Deloitte Oversight Board 2019-now , World First Board Chair 2017- 2019, Lloyds Banking Group 1991- 2015, BP Group 1981- 1990 and KPMG 1977- 1981. He is also a Fellow of the Chartered Institute of Bankers in Scotland and a past member of the Council of the Institute of Chartered Accountants of Scotland.
Formerly, he also was Chair of Worldfirst , sat on the Board of the Scottish Building Society, the Board and Chair of the Audit and Risk of Committee of Voca Link Holdings Ltd, on the Board of Scottish Financial Enterprise and a member of the BBA Audit Committee and various FRC committees.
He also sat on the LBG Scottish Executive Committee and sponsored the Contingency Planning Project for LBG on the Scottish Referendum.
In 2012, he was appointed Group Financial Controller/Deputy Finance Director at (LBG), having previously been Divisional Finance Director, Group Operations. He was a key member of the LBG Finance Board, leading various projects eg IFRS and managing down the Group wide cost base. Also gained extensive experience in Strategy, M&A, Risk Management and all aspects of Audit, Finance and Accounting from 25 years in the industry.
After graduating with a degree in Law and Accountancy from Glasgow University, he had qualified as a Chartered Accountant with KPMG. Prior to joining Bank of Scotland, in 1990, he spent 10 years in the oil industry holding senior positions with BP. He became Group Chief Accountant of Bank of Scotland in 1998. So our young man asks is he, in his dotage, looking for a mere ‘punt’ or do we believe he’s genuinely got good intentions.
In your mid 60’s there comes a time for reflection on how your life has (passed so quick!) and how it has developed. I feel certain that Mr Coyle has absolutely no intention of putting on his slippers and sitting in front of the fire. He will reflect on all the above, as in these years the most valuable things are your family and the legacy of your working years. My friend, do you really think that Jim Coyle would, for a second, for one second, risk his decades of respect, and his reputation, on a ‘punt’. Of course not. Look at his credentials, where he has worked, he will have done more than due diligence, he will have crawled over every millimetre of this business and thought this is the most exciting thing he’s come across.
Apart from the obvious disruptors, which can be ignored, lth's come in all shapes and sizes. It is a frustrating ride and we have all been down for a long time and that does lead to expressed tensions. I really don't believe people are being 'bullish' about this share, they are writing about the positive things which we know this company is working hard on. Tom James has said directly that he and all the staff at Syme Tradeflow are working really hard, and all hours, to make it a success. I believe him, that's not being bullish, it's a young company setting out with literally a global changing plan. AZ may have said it was ready months ago but he has subsequently said everything needs to be right legally processes etc so that when it does go off they won't have to take a step back and go over things again. It takes time. We have to be patient, Savvy's posts, along with others, are uplifting to read and get us through our low sp days and the waiting. This can only get good, it is inevitable to me given the market the company are aiming at and the people involved. Have faith, patience, don't be discouraged, it's often the last key in the bunch that opens the lock.
https://www.gtreview.com/news/global/digitalisation-could-add-us9tn-to-g7-trade-by-2026-says-icc/
https://www.gtreview.com/news/fintech/dp-world-targets-smes-with-launch-of-trade-finance-platform/