The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
It is correct to be very very cynical, it is your money after all. In this case we are specifically in mineral sands, not general commodities. A world wide market, with the mineral sands situated in just a few countries. MF has enough skin in the game with 13% he does not need to exaggerate, the independently certified resources speak for themselves. He has 77% of the shareholders who are loyal, there is no benefit in him gilding the lily, he doesn’t have to. He is concentrating on the prize, and is beholden up to a level on the speed that the off takers want to proceed. Much to the shareholders annoyance, resulting in a declining share price. We are where we are, and I for one am prepared to take an increasing level of risk.
The negotiations will take as long as they take. There are multiple companies involved, with some companies only interested in one component. These big Asian companies are probably private companies, they will want secrecy. I was told at the AGM that there is increasing concerns about securing long term supply, due to a mismatch with supply and demand. If there is an industry wide conference where the world and their dog meet, I expect MF to attend so he picks up all the world wide gossip on the industry so he can play his strongest hand in the negotiations. Time will tell.
I respect your view, however I would add that MF has not issued an official RNS statement, these are just what they are, newsy tit bits for a better word. There is nothing to add from his last RNS informing the market what the company is doing, negotiating with off takers and the port authorities. No deal has yet been signed hence no RNS, an update on where they are in the negotiations adds nothing and is not going to get passed as an RNS, hence why you you got tit bits IMHO. I am not colour blind with MF, but have not seen anything in the tit bits to worry about, completely the opposite. I have had it said that negotiations with large Asian companies that are multi year contracts take time, we have to go at their speed. The time frame may not fit in with investors, but that is fine, I have bought some more today on the drop. Relax all the RNS’s have been very positive, just a matter of time.
Well I see it differently, I read into it that everyone under the sun is going to be at the conference, all the people that matter, just listed them in categories. Simple. He can’t issue an RNS with how negotiations are going, only when signed. Have a bit of faith.
Jumped 7% in price today, back up to 5$’s, potential bid for OZ minerals by BHP pushing up all copper plays. OZ minerals been suspended. A bid for SFR would be nice, copper the place to be with electrification of the world, simply not enough copper to do what the world wants to do. We should get a rerate, but the market isn’t always logical! Patience is required.
Part of the negotiations with the port owners will include the dredging, all part of the deal. The sand that comes out, I wonder what it could contain! This is a project that just keeps giving with potential, just need the off take agreements. I am sure these will include some cash so we don’t have to be diluted, they have a number of companies interested so some competition. Just a matter of giving a discount on our precious sands. This is all IMHO. Not long now.
We have said it on this forum a lot Sheldrake as it is true. We have 3 projects progressing nicely, and there will be future RNS’s which will give updates. I can understand why someone wants to be negative, but please display a bit more logic, otherwise people might come to the conclusion that you are unhinged to say the least. Anyway good news that we have had a slight uptick in the share price these last few days, don’t you think?
The main reason for going to the AGM was to find out first hand what was going on. Only two shareholders there and I could ask what I wanted. I probed and pushed to get the confidence. Very relaxed and confident I found them all, but extremely frustrated! MF has 13m, so plenty of skin in the game, good enough for me to go all in. If this goes we will have to meet up for celebrations, I will pay!
I have been in from the beginning having had shares in the palm oil PAL. I have been averaging down all the way from 16p. I am retired, and have lost plenty of money on aim stocks over my time, relying on bullish statements. In my previous life I was a commercial FCA with a taste for sniffing out value. I find it in spades here, so putting in the kitchen sink. My son thinks I am crazy, but I believe this is the big one. This will be a cash cow, giving out huge dividends relative to current share price! The off take agreements will come, we have a number of companies who want to do it, as there is concern about world supply shortages. We have the mining licence, and the country needs us to get on with it. The machinery will end up being owned indirectly by the off takers, so they have minimum risk, it will be the level of discount that we have to give on the product. When this company was formed the price of minerals was nothing like today’s price, they have found more, the grades are higher and the pound is weaker. The directors and the 76% rock solid shareholders are all aligned. In the meantime we sit at 5p waiting for the RNS, what is not to like?
The problem is only in the delay, and trumps the good news, which is reflected in the declining share price. Problems within the country and Covid-19 have extended the timeframe. I believe MF is only going to release an RNS when it is signed and sealed, he has told us the direction of travel. I went to the AGM to get some confidence, as to whether the off takers were hot to trot, and whether they had the financial capacity to fund. I left very bullish and have put another 50k in. I am not happy with the delays, and I am fine with investors commenting and moaning. I am just trying to add some positivity, having gone to the AGM.
The main reason I went to the AGM was to look into his eyes and ask him direct questions. This is what floats my boat, investing when everyone else has lost faith with a declining share price, and RNS’s that keep getting better and better with increases in the value of our assets. To top it all the product is priced in dollars. Very confident that I will be rewarded with my very large punt that at the moment is 50% down.
I am not bothered that MF has no regard for PI’s to be very frank with you. It is the way MF operates, and why should he if he is confident that in the end he will be judged by the results. We are just frustrated that he has not delivered to the timeframe he set. I can understand why. He has 78% of the shareholders who are rock solid, I have used the declining share price to buy more as I think this is a great give away. I wish I had waited, but after meeting him at the AGM, happy to keep accumulating. MF is aligned with the PI’s, he is as frustrates as we we all are. Patience is required, MF will ensure we are rewarded. This will multi bag IMHO, and that is what I am in this for.