Member Info for Oldgimmer

This is great news and fantastic endorsement by the Norwegian Sovereign Fund in Sirius long term potential.

I’ve been invested here years and am currently well under.. It seemed most probably that further equity would be needed. But guys the mine will be built and will provide a nice dividend to you / your children or grandchildren for decades. Of course if you are so disgruntled you can vote against the deal at the general meeting later this month.

Maybe word has got out about the funding deal? Could be an interesting day.

Total shorted position around 360 million shares so asking for 75 million back can only be the start of an unravelling?

Its a reduction in shareholding not an increase. The 75 million shares look to have been lent to shorter and now they are asking for them back So those who shorted now buying to cover their position.

I think.

Good news

Well a disappointing set of results 17k tonnes sold but cash reserves look good and 2019 hoping to break even so believe patience needed and hopefully this will come good 2020. I doubled up my shareholding today to average down. I have more invested here now than I wanted and hope it will come to fruition eventually.

I dont know about anyone else but just cant wait for that glossy publication to come through that letterbox detailing our Boards and company successes for 2018 and more importantly their plans for the near and distant future. I think perhaps future plans will be more to the fore. As this area does not need to be based on any reality but can be written to emphasise “possibilities”. But we have had a great year in 2018 for raising additional funds and paying for patents and the costs of “advancing discussions with partners”. All adding shareholder value. Yes Valirx is one of those British success stories that the rest of the pharmaceutical world can only envy.

Sunderland voted 61% to leave the EU. 39% to stay. I am sympathetic to those Sunderland workers who voted to remain.

Not a very good item in todays paper. Let’s hope there is good news soon alleviating funding concerns.

This is the BB for those interest in, or having an investment in Lloyds banking group?

One thing for sure low trading volumes have quite an effect on our SP.

You can come back to this board after years and still see the same old gripes and frustration. The VAL roundabout keeps turning, the names of the passengers change but nothing else does. If and when “the deal” is done there are so many investors here wanting out there will be plenty of time to jump back in. If you have the nerve.

I post at my peril as obviously I have an evil plan to undermine the SP for my own selfish gains.

Today after 6 years. They have had ample time to finalise their mega-deals.

The company can mitigate currency risk through hedging instruments

less than 10p and on such low volumes.

I cannot help but believe that investors here do not entirely understand the implications of the BOD prudent treatment of revenue and commission paid. Whilst contracts signed to generate income over years spreads that income over the future the commission or “one-off” cost to get that business is fully harmed in the year the deal occurs. Hence at the October half year accounts PRSM arrived £35.8m as deferred income in their balance sheet. This is income which will flow through P&L in the future with only support ocost to charge against. All commission has been written off straightaway. The board could have adopted a policy of matching the omissions paid over the years the income is generated but have adopted a more prudent basis. As long as the groupp continues to grow at an increasing rate of growth this will act as a significant drag on profit and loss but a ompany that continues to grow and profitably that is not a bad thing? I’m not invested at the moment as felt the share price was overvalued but I struggle to put a value on the share but its far more tempting now to invest than 3 months ago. This company does make money. The accounting treatment and the timing of recognising this in P&L makes this less than evident.

The current SP obviously reflects potential investors fears of further dilution but with this being a drag on the price there is not a great deal of wiggle room between the initial offer price of 20p and current. There are other types of equity other than ordinary such as redeemable preference shares and variations can be made in terms of cost. But I dont know whether this type of instrument is “old hat” and could be made attractive enough to supply the dosh without a cash outflow over the construction period. Some savings have been made on some of the convertible loans conversion? I haven’t posted for a bit so may be a bit out of touc. Been here for 6 years now.

At some point the shares will be cancelled and the Inland Revenue (in UK) will classify this as realised for capital gains purposes. It means that the loss any holder of equity being the cost of their investment becomes an allowable loss for UK CGT purposes (I hope). So if you are fortunate to have other gains you can offset this against them.

Hi, the administrators will be calculating a balance sheet as at the date of administration in order to assess the liabilities and realiseable assets of the company. Those that have financed the company, equity, loans and creditors have different rights to the assets on a winding up. Regretfully equity shareholders rank last. It looks like around £160m of the assets are secured against the loans so anything realised above that go to everyone else. From memory other preferential creditors are administrators fees, Inland Revenue and redundancy costs. So they get paid then I think other creditors who have supplied stuff. All a bit sad I’m afraid.

Thats it. What a year. Made the first mistake of putting my investments withbrokers Beaufort. Then they went in administration in march and I still have no access to any of my investments to trade. So £9k lost. I too thought the Aussies new how to get this out and believed in their ability to make this work. Blaming the grade of the ore as being too soft bought them time but the final nail was the Chinese opening the taps on production. You live and learn.