The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I understand that the sanctions and the overall situation really isn't helpful as such because it scares away potential business partners, not just possible buyers of parts of the company but even those wanting to buy the mined stuff. That's "fine" in terms of that's the situation and there's little one can do about it but I am venting as I feel the bod are flying under the radar not because they are hiding from the - what precisely? but more so hiding from the investors.
There are plenty other companies that have done badly over the past some years on aim (almost all of them really) and there are some good examples where the bod keep the investors updated on a periodic basis and so even if it's choppy eaters but at least investors have some vague idea that those bods are trying. Not here.
They've been hoping for a sale for the past 2-3 years at least and delivered precisely nothing. (Including the stoppage of production). With the almost zero communications from the company it's hardly surprising that there's a lack of enthusiasm towards believing anything good will come by the end of the year.
And I personally don't believe the Ukrainian situation has much to do with this. It probably did, early on but now they're just milking it as an excuse for their incompetence.
"SO OPTION NEEDS TO BE THERE IN CASE IT’S NEEDED"
Well, 7 is not. Such is life. I admittedly don't get why ppl didn't vote for 8 but it's very obvious that the BOD can blame themselves for getting the rather low "for" votes. I don't think many people are upset with the sale process (or the lack of it) on its own but instead the lack of comms throughout the year(s). So yes as someone else said, warning shot.
SNG had the same cr.p - the CEO is a scientist who has no sense of business and appointed a bunch of highly paid specialists only to f..k up the process and then go off on a literal boat trip.
>> lack of communication must now be bordering on illegal or gross incompetence
Del, would it make sense to compile your "updates" list into a formal complaint and send it to the FCA? They should be able to look into this if they feel it's in fact violating the rules. At least it would give everyone some peace of mind of sorts. (?)
If saying something would put the sale process at risk then the sale process is basically illegal by whatever current standards/laws/interests there are. If the sale was as big as some claim it to be then it would need to be rubber stamped by various high entities and such wouldn't be allowed to happen if said (call them Putin or EU or whoever) entities felt it would be in violation of whatever laws and/or interest etc.
It's obvious by now that unless Putin suddenly dies the invasion won't stop any time soon and regardless the cessation of the invasion wouldn't in either case bring back the "good old days" of laws and regulations any time soon, so using the invasion as a continued excuse for silence is a very poor effort. If the company feels they can't sell their assets, they should say it, at least we'd know where we stand, otherwise they should provide an update and get sxxt happening, or the BOD should step down and pass on the baton to whoever that can.
> Much hard work and time has gone into this company ( even if the end result is not very glamorous)
I'm sorry but investments aren't charities. I don't care how much they worked on it if they f...ed it up and tanked the sp. So no, while they may be normal it's not justified.