Member Info for Millfield

Congratulations and thanks to those who posted the Seeking Alpha link today. It should be required reading for all those who use these boards for investment advice.

After reading the links to "guerillainvesting" I wondered where Levi had got his template, as it seemed to me to be a guide to rampers that had been twisted to replace "rampers" with "bashers", plus minor text changes to suit the new narrative.

I know I said I would not be posting further on here, but I could not resist this.

Well done both.

An ostrich grazing the savannah spots a herd of elephants stampeding towards him.
He buries his head in the sand
Lo and behold - no elephants
The thundering herd passes by
Lo and behold – no ostrich

The moral of the tale – They who choose to abuse, no platform, or even report those with opinions which differ from their own agenda may well pay for their stupidity in the end (unless of course they are working for AZ).

I have no idea whether this company will succeed, or if the wildest dreams (and finances) of some of those on here will be shattered, but I will not be investing in it. The SP action after Monday’s “fantastic RNS” is telling me all I need to know. Last week the buzz on here forecast a monumental RNS was due, after which the SP would shoot to the moon. It duly arrived on Monday, and after a very brief upward spike, has resumed the downward tack. The ridiculous option RNS today, probably issued to ramp the SP (successfully), only confirms my view that this share is one to avoid.

Any bets on whether it will close tomorrow below last Fridays close? If it does I expect further RNSs early next week which might initially cause some excitement, but will not last if placed shares are unloaded. Amateur investors - be careful out there.

Anyhow, this will be my last post on this board, which will please the rampers. Poster Applegarth put it most succinctly with his Monday post –

"None were so blind as those that will not see"

GLA

Why not indeed.

I think you will find that those AZ trades you list as buys were actually "Direct transfer to custody account"

The DW trade appears to be a genuine purchase.

I read all these posts with complex calculations showing a huge price to be paid by Orchestra if they exercise the option.

The RNS does not specify a price to be paid, merely the condition under which the option may be exercised. Therefore the purchase price must be assumed to be NIL.

I misread the RNS.

There is a time period specified, 0800-1230 on 31st December 2020 (assuming the market closes early on New Years Eve.

Even stranger.

I misread the RNS.

There is a very narrow time period involved - 0800-1230 on 31st December 2020 (assuming market closes early on New Years Eve).

Even stranger.

I have traded options many times in the past, and do not understand this at all.

Options usually have a time limit, strike price and premium. In other words, with a Call Option the purchaser pays the Premium to acquire the right (but not the obligation) to purchase the share at the Strike Price at any time within the Option Period.

This RNS appears to give Orchestra the right to acquire 630M SYME shares at nil cost in return for a premium of £1.1M, at any time the SYME SP is at or above .6945p.

Very strange. Needs clarification.

What a great link to post on this board as from what I've seen on here over the last few days makes it a case study for ramper spotting.

Anyone remember the wonderful Hill Street Blues, and the catchphrase “Let’s be careful out there”?

On the face of it today’s RNS is very encouraging. However, if a further announcement of a placing to “Institutional Shareholders” is forthcoming, then PIs should be prepared to lube up as they realise who has been selling into the spike this morning.

For the sake of all the small PIs here I do hope that will not be the case.

Now I’ve seen it all.

I only looked at this board in the light of the recent events to see what SYME investors were thinking. Having read today's posts I can only assume that some here are trying to qualify for the SP Bulletin Board Moron of the Week competition. A few have a very good chance as being chosen as the winner, so I may well pick one and enter it .

This reminds me of the Quindell saga a few years ago, which did not end well for the BBMs. If the Aussie idiots hadn’t come along and paid at least ten times their worth for some of the assets, the diehard QPP holders would have lost their whole investment.

TW rarely, if ever, shorts the stocks he calls out for wrongdoing, and it is thus not wise to bet against his bearish view. As for reporting him to the FCA – you’re ‘aving a giraffe!

So will the FCA.

This will probably be my last post on this board, as I sold the last of my POG a few weeks ago at 40.3p, and cleared the last of my HGM at 308p at about the same time. I came to the conclusion that mining in Russia might be full of pitfalls (pun intended).

Although I switched into Barrick, and retain a speculative holding in McEwen, I might consider Newmont if it pulls back significantly as the handle forms on the GP 10 year 200DMA cup. As the world descends into turmoil I prefer my gold speculations to be in relatively safe jurisdictions.

Otherwise I suspect there might well be a general market sell-off between now and December, at the end of which there should be a great choice of high yield stocks in stable businesses to fund a comfortable retirement.

The Q3 update mentioned increased provision for "bad or doubtful" debts. I would suggest these were caused by traders failing to meet margin calls during the fast market conditions in March, and IG unlikely to recover the losses.

They warned last year that the divi would be held at this level for three years, so why shock and horror?

Personally I am glad that they are retaining cash for opportunistic investment, and it might be handy to hold a substantial reserve to cater for bad debts. As there is a strong possibility of market turmoil between now and Christmas, it is likely that some inexperienced or just plain reckless punters will overshoot their margins by such levels as will cause them to seek bankruptcy protection.

Rheingold

Assuming Orient Capital is your broker, and holds your shares in a nominee account you should contact them for advice.

They should be able to offer you the chance to vote, and provided Peter Hambro is able to retain the chairmanship, then the easiest way is just to give your vote to the chair. Your broker should tell you the easiest way to do this.

If the appointment of PH is overturned, the broker should be able to provide a voting form which you can return to them completed for forwarding to the Company. I believe from what you say the the Company may have contacted all the nominees for a breakdown of POGholders and their addresses. If that is the case then you can expect the forms, and recommendations on how to vote, in the post. This is what happened in 2017 to counter the Renova coup.

TLTL

We went through all this in 2017, when Renova (controlled by Viktor Vekselberg) tried the same ploy with the help of M&G and Sothic. Thanks to shareholder apathy, and a (very) few on here who thought that a new management team might be good for the share, the concert party won, only to be turfed out one year later after Vekselberg changed his mind and Renova sold out to Rakishev.

Rakishev engineered the restoration of the old team, and from then on the company SP rose >400%, until of course the voting at the latest AGM. However the episode was not only damaging to the SP, but caused disruption and much expense to the Company.

I for one would prefer no repeat of those events, and I certainly would trust Peter and Pavel to look after our interests. Russian oligarchs probably acquired their vast wealth by very dubious means, and with the help of some very unsavoury people. Russian business ethics and practices are somewhat different to ours, as a link I sent to M&G during the 2017 coup demonstrated. It reported one of the parties involved settling a shareholding dispute using local militia rather than lawyers. Cheaper, and much more effective I suppose.

Piccadilly or Moscow - no difference? You sound like Wedgie Benn, the odious Labour creep who was the great apologist for the atrocities committed under the rule of saintly Uncle Joe Stalin.

We have been here before where a vested interest has seen the value of the company and formed a "concert party" to gain control in order to further their own agenda. The purpose is again to avoid paying a fair price by making a formal bid.

In my opinion the old board has done its best to protect the interest of all shareholders. I will not expect the same if the cartel succeeds in its aim.

Most brokers will forward company documentation to you if you ask for it. The problem is, once set up, you will get the bumf for all your holdings, every time they are issued

You may be able to ask your broker for a specific set of documents, but I suspect that, like in 2017, the Board will ask the brokers for shareholder lists, and mailshot us all prior to the EGM. Otherwise you can instruct the broker to vote with the chairman when the papers are issued, but his relies on the broker being bothered and competent to carry out your wishes correctly.

I do not see a problem in this.

1. These resolutions were almost certainly proposed by the old board - not the concert party.
2. The probable reason for it is to enable conversion by eligible bondholders.

The future of our investment depends on the result of the voting at the forthcoming EGM. If PH loses the vote, or the market thinks that he will, the shares may well fall markedly. If the vote is lost and the usurpers get control we can only guess as to their intentions, but must assume that the interests of minor shareholders will not rank high on their agenda.

It is up to us and all the other shareholders to ensure that does not happen.

Think again.

I accept that the press release and email could have been clearer, but PH was not nominated by the Slevin lot, but is a white knight appointed by Sir Roddy Lyne as interim chairman. As for supporting a stealth takeover, you may be happy letting Slevin tell you what price you will accept for your shares, but I am not.

I read hear that a minimum of 34p must be paid because of the rules. I hate to disappoint, but who knows what the acquiring company would be offering as who knows what the maximum price paid for POG shares to date is. Also, a new Board could recommend an offer from a newly introduced company holding no POG shares at all.

Shareholder apathy and acquiescence lost the vote to the Renova mob in 2017. We won it back the next year and saw the SP rise fourfold thanks to the original team. Do not count on getting it back if you lose it this time.