George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
It may be 4 years old but it does certainly highlight that just because a Nomad allows the publication of an RNS doesn’t mean it is factually correct . I would hazard the Nomads operate on a ‘good faith’ basis. If management tell them something is true they have to take it as just that. They, especially on AIM, are not in the due diligence business….clearly!
There is a pattern here. From OF’s non-purchase to the TRAM funds having been sent….the worrying part from an investor’s perspective, and ultimately the issue that feeds into this debate in the absence of any further updates, is that nothing ever gets satisfactorily corrected or explained. The opacity is really not good enough for a publicly listed company, even if in the somewhat shady world of AIM.
Surely a Nomad worth their salt would have ensured that SLE updated from their last RNS as they said they would….maybe the normal rules don’t count when a stock is suspended ? Not like it can affect the market one way or another…
What are you babbling about man? SLE can look all they like into CJ and anyone else posting research on this board... (they won't like what they see clearly)
None of your, and Alaric's, so-called 'Trolls" have said anything litigious/libellous/defamatory in these parts. Negative yes, but them's the rubs. In a vacuum of any meaningful, dare i say promised, updates is this surprising?
As a shareholder, as you purport to be, surely you too should be challenging the narrative, or lack there of, coming from SLE HQ...the current impasse is truly damning IMO. The lack of submitted accounts is the part that really makes me feel nervous...no one doubts the value of the asset but, if you can't make it work financially your creditors will tie the noose around your neck....
Another dilution maybe to ensure our biggest sponsor gets it's value ?
(please someone tell me that is too simplistic)
I think you know that’s not the case Alaric, my history here proves just that. I would suggest 40 odd posts in 8 years would suggest pretty poor trolling and confirm my position as a fairly disgruntled LTH…others can make up their minds on the genuineness of posters on this forum and whether they take the posts of those who research their subject well as posting defamatory posts (ha, do me a favour!) or whether, dare I say, those who continued to airbrush over the ongoing issues (TRAM money obviously still being held up by US regulatory checks….please) as who is disingenuous.
Frankly in a suspended share it’s all nonsense anyway…
I reported your posts Sam and I’m a shareholder. I call out abusive postings when I see them and your puerile aggression has no place on boards frequented by supposed grown ups. (Plus having to read your semi-literate attempts at intelligible riposte hurts my delicate sensitivities)
Sam - it would appear you grasp of arithmetic is as shoddy as your attempts to string coherent sentences together. A cursory glance back through the postings of the last couple of weeks or so will see many contributors, both admitted holders like myself and those who have not declared their position (as is their prerogative) taking a pessimistic line on the current shambolic events regarding the promised funding injection and, more pertinently, the lack of any credible updates from the board. This is not 'propaganda' as you put it, just opinion based on what is currently known. Coupled with articles pertaining to the Nigerian O&G industry and events in there High Court....all very relevant in my view.
I've said it before but it's worth repeating; one does not have to possess stock in a company to take an interest in its travails....that's what a public listing is all about.
Almost a month since our erstwhile champion of positivity and all things SLE has posted one of his pompous posts (yes you Alaric). I do hope he has not succumbed to anything untoward over the festive period. Please old boy do put our worried minds at ease by letting us know all is well in the Alaric household…
Whilst you’re at it your thoughts on the current impasse and recent news reports from Nigeria would also be welcomed.
I never believed in fat men delivering gifts at Christmas anyway....with now one day to go are there really people who still think this is a 'back office' error or a victim of transatlantic regulatory red tape....? I would counter that if this was the case we would have been updated as such....My old Nan said "if you haven't got anything good to say...say nothing.." and I fear that's where we currently sit...
Ok Alaric, fair comment I guess (save for the trolls jibe) but, and in my view the big but, let’s imagine that the deal hasn’t ‘fallen through’ but has encountered renegotiations around terms for example does that oblige SLE, and by default it’s nomad, to inform us as such? Probably not I would suggest…to keep ploughing the line that this is just a technical issue around international funds transferring is frankly for the birds. Clearly something is up, and it can’t be to our benefit, else we would have heard about it. No news is not good news in the SLE world based on historic trends. As always hope to be proved wrong….
...another bile laden post from Alaric...i cannot understand why the 'glass half-full' brigade need to be so aggressive and hurl personal insults around all the time. Very poor show and really detracts from the, occasional, valid arguments being put across in defence of SLE and the oft challenging predicaments it finds itself in!
Thanks for sorting the article behind the link CJ, much appreciated.
Whilst you are right that it doesn’t add anything really to what we already knew the fact that it’s being reported in the IR might at least push OF to keep us a bit more abreast of how the minor technical issue with the funds transfer is progressing…hope springs and all that.
Ps good summary in last post.
Dear Mr.Swan How dare you trawl through clearly disreputable foreign media and share a good news story on this forum! Call yourself a troll...? Oh no, my mistake, that will be the abusive trio that feel compelled to hurl that moniker around whenever anyone has the temerity to post anything less than giddily positive...
This from the bottom of Malcy's reportage on today's statement from SLE....I think it's quite clear what team he's on!
"The fact that there appears to have been a technical, maybe back office misunderstanding as to where the funds have been directed means that the shares remain suspended but the two companies are ‘working together’ to sort out the delay in clearance"
https://www.malcysblog.com/2023/11/oil-price-san-leon-europa-sdx-coro-and-finally/
I was wondering what had happened to the imminent funds due….
As previously announced on 2 November 2023, TRAM had confirmed to San Leon that funds were in the process of being transferred to San Leon in respect of the loan facility. TRAM also subsequently confirmed to San Leon that funds had been transferred in respect of the subscription. To date, neither payment has been received by the Company and San Leon continues to work with TRAM to understand the reasons for the delay and to enable funds to be released.
By chance I arrived in Malta yesterday for a cheeky long weekend….in between exploring and eating I found this on your link. It looks like a note from yesterday’s attempted hearing -
When the case was called, Av. Keith Borg for the respondent company.
The claimant noe the Av. Jonathan Abela Fiorentino sent to inform the Court that he cannot attend today's hearing.
The Court notes that just yesterday a note of the claimant noe was presented, a copy of which the defender of the respondent company still does not have.
The Court adjourned the case for the same purpose as the previous minutes until 23 February 2024 at 11.15am.
Later appeared the Av. Jonathan Abela Fiorentino, who while confirming what Av. Keith Borg had informed the Court about it, requested that on instructions sent to him by the clients yesterday evening, withdraw from the note the second document, DOK JAF7 (fol 467 - 469 of the process). He declares that this does not mean that what was declared to the Court is not true.
The Court accepts the request and authorizes the claimant noe to do so.
The claimant is now withdrawing the same document.
You could argue it provides some much needed balance amongst the sometimes giddy positivity banded around this board.
As a LTH I want to see all news and comment, good bad and ugly, so that i can try and form my own opinions. I thank those that take their time to trawl through foreign media for pertinent stories, no matter what angle they lean on.
Personally I find the so-called 'negative squad' to be less disingenuous than some of the clearly rose tinted rampers. It's all a matter of taste of course but iv'e been around this share long enough to maintain a level of scepticism that will not have me pulling out the champagne every time OF proclaims a new company changing deal.....the proof, as ever, will be in the re-listing and the resultant market movements.