Member Info for Keithb1

Sorry, but I'm not clear on what the 2 of you are saying. Are you saying it's TG's fault that the SP is down? |As far as I can see he received 3m shares in the distribution and still has them. I suppose the other recipients could have disposed of theirs but we have no way of knowing that.

Yes, Boo, but the NAV would be about £3.50 and that divided by a few million would amount to not a lot. On the other hand we seem to be heading for a situation where our shares are worth not a lot anyway. Boo, hoo!

Dividend would have been a better idea TF1, at least we would all have benefited instead of just spending money on the "deserters", as somebody on here (can't remember who) called them. It's not too late, perhaps somebody should email our chairman and suggest it! He'd collect a few quid as well.

Boo, I agree about the wait for news on the exploration front, wherever it comes from, but if the buy back is to continue then why haven't they made the next tranche of cash available already? Delay smacks of indecision and the SP just drifts lower. In any case the only ones to benefit so far are the sellers who wanted out and were willing to accept 1.25ish-give or take a bit-for their shares. Some good it was giving Arden discretion to buy above the last 5 days average when all they've done is buy below and drive the price down.

The bid is now back to where it was before the buy back started. This is going to go down as another failure to deliver, no wonder there are no new investors.

I'm aware of that argument Boo, but I don't believe the reduction will be enough to have any significant effect and we'll have parted with £2m+ to get there.

On the face of it the first phase of the buy back has achieved next to nothing with regard to the SP, or anything else for that matter. Unless The Board know something we don't which indicates another £500k would achieve something significant then there would appear to be no point in a phase 2.

yes-£497k and the bid has risen by 4%!

The value must be pretty low at the moment-not enough to show up in the SP, anyway.

Thanks for the reply. I'm just thinking that perhaps 1 of the things that's holding our SP back is people's perception of how long it will be before the royalty payments start to kick in, so any ways of shortening that period might be useful and if SFR don't have to go down the full JORC route then that might help.

Another thing that's occurred to me is how SFR will distinguish (and MTR will verify!) between ore from T3 and ore from the wider area when it comes to royalty calculations-assuming there comes a time when the processing plant is being fed by both. Apologies if it's a dumb question and obviously it's jumping ahead a fair bit but the board is pretty quiet at the moment.

Question for the experts amongst you all. Will SFR go through the formal stages of proving up T4-scoping, PFS, FS-as MOD did with T3 , or as they are going to be mining it themselves as opposed to attracting a buyer for it, will they just carry out such drilling as they feel is necessary to satisfy themselves of it's mineability?

It doesn't even show in HL's list of trades.

Blimey. Has somebody at MTR been reading this board?

Have 2 new ones just been issued or is LSE having a turn?

Sorry Willowman, but I don't buy into the argument that the seller is doing us a huge favour. The SP is going down and I suspect that's not what shareholders voted for. The buy back money would have been better spent on acquiring/proving up new assets. The SP would then rise and the market would absorb the shares of those who wanted out. At the moment we have a sea of red each day and with Arden buying at the bid they are helping the SP down.

As far as I can remember the buy back had 3 objectives and the only one it's succeeding in at the moment is allowing the seller(s) to get out without absolutely trashing the SP. Perhaps that's all the Board wanted. I'll keep the faith for a bit longer but the trust I once had in abundance is now starting to drain away. As far as I'm concerned this buy back is just a waste (or worse) of shareholder money.

Yes, looks like the buy-back is just to facilitate an exit for 1 or a small numbers of holders without trashing the SP even further. Just have to hope the seller/sellers run out of shares soon. Not what I was hoping for/expected!

Well, somebody is confident!

"They are flushing out the seller"-and the rest of us are going down the pan with him!

The buy-back prices must be playing a part in the SP's fall. The deals are going through at the bid price instead of mid or higher. It's no wonder the SP is dropping. Some buy back this is turning out to be!

Is the 3m at 11:08 a sale or a buy-back?