Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
DL, you're clearly learning the ropes with a smallish portfolio, so I wish you luck. Here's a tip: it's all about % moves not how many pennies.
And when did I say I was a "hold, hold, hold investor"? I'm not the one who advertises himself on Youtube/Twitter as an investor am I?
Spencer, when you say "it is believed", alarm bells start ringing. Has the company issued clear guidance on this? To me that statement sounds like it refers to Lake Wey as the "Project" and that without the permit, SO4 do not have permission to ramp up to nameplate capacity. The "over full project life" is confusing. Does that mean they can actually ramp up to nameplate for a period and then it expires? Wierd, and it's something that the company should be very clear about and obviously have not been. Smoke and mirrors are generally used when companies do not want you to see the naked truth...
LOL Newboy, you're used to having the board all to yourself aren't you? Are you Justin Waite?!
:)
I wonder if that part of the issue mytton. The small print on the 5th of August mentioned conditions precedent that were had a dealine for satisfaction of the 15th of October. Presumably, those conditions have not yet been met, 6 weeks later. What precisely are those conditions? Clearly, they are not tickbox exercises, as we were led to believe, otherwise today's fiasco would not have unfolded. Additionally, why call the ASX halt? Why not organise the funds first? They have done it both ways in the past (15 April - ASX halt, 5th August - funding RNS with no halt).
DL, I suggest that you come back and lecture me on what smart investors do when you have more than £50 in your portfolio:
"Just checked a Fixed Quote and could buy at 0.363p.
I bought in last week at around 0.35p so for the first time I'm in a little profit.
Or was in profit.
Was up £84, but before sending the above now down £216. :-)"
is that clearly Tony couldn't give a flying F about the shareholders. He's only interested in getting this project going, anyway he can, couldn't care less about heavily discounted dilution. He's got his generous salary and he'll continue to issue himself confetti bonus shares by the many hundreds of thousands going forwards, so he's set.
DL, sorry but what you describe is half investing and half trading, pure and simple. Presumably you have a "core" position which could be considered an investment and then you have a "trading pot" which is what it says on the tin.
If you want to understand what investing is, read up on Buffett.
LS95, sorry but I'm not going to divulge that on a public BB. Suffice to say that most people would consider it a painful wodge.
LS95, thanks. The combination of the amount and the reason for the loss has been enough to get me seriously mad!
Pondering, that's not true. But I know what you're saying, and it is based on the assumption that it will go back up from here and you will make your money back and more. That is an assumption, just like the assumption that we were already fully funded, and then some.
If I were a financier with Tony roasting over the charcoals, I would not be doing a placing at 24p equivalent. Oh no, I would be demanding my pound of flesh. Clearly, Tony is desperate after having left it this late. It's an utter farce.
Newboy, "My main issue is someone seriously can't add up and put them in this position... "
Seriously naive. We are not talking about a huge multi-national here; Tony should know the finances inside out - he will have known about every single detail from day 1.
Newboy, no I'm dedicating today to SO4, for some reason...
Looks like some mugs are buying into that last RNS. Let's just be clear - the debt is not over the line, it's "nearly" over the line, coming from a CEO who we know that we can trust. And to make matters even better, they haven't even got enough cash left to actually pay the lawyers to get it over the line! LOL - cue the emergency placing! Financiers do love an emergency placing, as they get to call all of the shots and get their pound of flesh.
Newboy - do you not agree that the information in the 15:39 RNS could have been provided at 7am? I can't see how you could disagree with that to be honest. And if so, do you not agree that it would have been respectful to all investors to provide as much detail as possible about this humongous curve ball?
Ask youself if you believe a word that Tony says now? Is the debt funding almost over the line, or is it more BS to help get a siazable placing away while they scramble around for alternative finance to fill the gap?
Newboy - no chance.
More BS from Tony. The last placement was supposed to provide a very significant buffer into production - and now we hear that they are struggling to rub two pennies together to pay the costs to get the financing over the line! Unbelievable.
Not sure WTF that announcement couldn't have been provided at 7am this morning?
Tony is ZERO respect for his UK investors.
PI, I have taken responsibility for my investment. And I have sold out at a loss today.
The fact is that people do follow JW into investments, like it or not, and there are plenty of people who do so with less investing experience than myself. JW needs to assume some responsiblity towards his followers, in terms of transparency, as it his followers that are often, in a large part, financing his gains!
DavidLaw - you clearly have no clue what investing means - that is exactly what it means: holding, holding, holding!
JW talks about a 3 years timeframe and within weeks he's heavily topsliced...ya di ya. JS needs to be straight then - he needs to just say that he's a dirty trader out for a quick buck! Why doesn't he say that? Because he wouldn't get so many followers on board to push the price up.
And this is not stalking byt the way TBTT. I think you need to revisit the definition. This is the first time I've had a proper go at JW, EVER, and it's the result of a build-up of irritations.
TBTT, care to elaborate? Who have I stalked firstly and secondly what are the fictions?
Did you stalk me to this board pal? All of a sudden you have an interest in Potash do you?
Andinio - yes I do have a gripe - well noticed! Adults are not allowed to have gripes? Ridiculous statement.
I don't mind JW as a person to be honest (he's a funny guy - annoying that he talks over his guests all the time though). I just can't stand lack of integrity and he sets himself up as someone who has it. Well I'm sorry, but somebody who truly had integrity would announce their sales, since they would be fully aware that many people have followed him into it.
He doesn't announce it though, because he wants to top-slice on the quiet and re-enter on the dip. He doesn't want his remaining position to tank as the herd exits. Additionally, he talks the "I'm an investor, going to hold this for 3 years" Bo llux, meanwhile top-slicing/selling to his hearts content. Be straight then - JW is himself the "dirty trader" that he keeps mentioning on his Podcasts, and by "dirty" it means he doesn't mind using the odd trick or two to help his trade along.