Member Info for Rollthediceagain

More worrying for holders, as you point out, is the statement relating to the immediate 500k needed ~ "However, no assurances can be given at this stage that the provision of such finance will be entered into either in time or at all. In the absence of such a facility, it is likely that the Group will be unable to continue trading as a going concern." Could be curtains, certainly wouldn't buy (or hold) until this is sorted. The consequences of the fire hopefully will be less problematic beyond a short short-down.

Read the RNS, welcome bump up in sp, potential but all jam tomorrow. Initial $50k buys them a 1.48% stake and gets environmental permit started. The full $1.5m deal buys them 31% of share capital of JV vehicle well short of levels needed for a reverse takeover, so question of time & monies for alternatives still hanging over share. Plant (costing estimated $4m) won't be until this time next year if all things go correctly, exploration target confirmed as a mineable resource and they have raised more capital/financing to pay for same. JORC report sometime in 2017. In summary nothing to get excited about (yet) imho.

Not really I surprise though given STGR has no cash to pay the salaries owed. Positive in so far as BoD members are not taking shares at current sp or a discount and their future renumeration has been cut to reflect reality of their financial predicament.

Okay so you're basically placing your chips on STGR taking over Tirupati Resources Mauritius Pvt Ltd to qualify as the reverse taekover even though STGR claimed to have been pursuing a number of other corporate opportunities? Additionally you're then banking on Bass delivering and tranche 2 & 3 payments providing enough cash or security in a timely manner (<6mths) to pay for the additional cost of taking a majority stake, the development of the JV production plant if the feasibility report is favourable and ongoing costs with a shortfall being from a further debt deal (even though no income on the horizon for years) with Tirupati or AN Other and a capital raise (as per original Tirupati JV RNS). Does that sum it up? There are no realistic plans to invest in other opportunities within the 6mth window not least as STGR have no money.

Early_Bird where are you getting that paragraph from as AIM Rules (July 2016) do not say what you are quoting.

I'm perfectly capable of reading STGR RNS, their stated strategy and the AIM rules. Let's assume the JV is the 'qualifying asset' which allows them to avoid re-admission status as an investment company despite comments to the contrary. As I see it they have basically used their one existing card (tranche 1 shares) as their stake to sit at the JV table. The $1.5m pays for the feasibility study and part site preparation. STGR have next to no money so will have to go cap in hand for 'lights on' money, they have no money to actually progress the asset itselt or pay for a greater slice of the JV to make it qualifying indeed they have no money to contribute and can't even afford a chair to sit at the JV table. They are in short a penniless supplicant who the rampers believe will be treated with fairness by the real players (Tirupati & Bass). Dream on.

It's crystal clear early-bird I don't have to guess after all divesting asset and moving to becoming an investment company is what shareholders voted on and agreed. It may be possible, as a fallback, to take a majority stake in JV as an alternative survival route but there'll be a cost to that which shareholders will have to face. Shishir may well want to maintain AIM listing but they certainly dont have to agree to a majority deal on favourable terms to existing holders.

They did make reference to the £6m rule in todays RNS Loriwhite. It is their stated aim to become an investment company so the £6m would seem to apply. There's also the small matter of the $4m (x2?) processing plant that will need to be funded for the JV although I presume Tirupati may come up with some sort of loan deal for that. In the interim they have little (<£300k) cash with which to service any debt deal associated with the JV and all other costs. They've secured the $1.5m JV cost against their only value with any value. Placing ahoy as far as I'm concerned.

lol maybe 'old bankers' know how to read a set of accounts (or interims) and understand risk.

Pretty poor but then we knew that anyway. At least STGR themselves now clarify AIM rules that apply (including the £6m if they want to be classified as an investment company). They really were running on vapours with cash at just £5k at 30th June indeed it looks they were trading whilst technically insolvent prior to tranche 1 monies being received. Unless STGR can demonstrate near term revenues from JV/other new investments I can't see why anyone would consider it investable. Serious sized rabbits need to be magicked by STGR.

I have indeed although the actual wording was that I wouldn't post on that specific thread again :) If they're doing the rounds in the city no doubt placing will be announced well within that window!

last post came out a bit garbled Yes South of Sheffield, Surrey to my precise. Is having joint monies a southern thing?

Yes South of Sheffield, Surrey to my precise. Is having just monies are southern thing?

bjornagain I'm going easy on you as you clearly have some sort of learning, comprehension or mental health issue. You announce by fanfare as supposed discrepancy in my posts but if you had actually read my earlier posts today I had already clearly stated that my (our) remaining shares were in my wife's name. You seem incapable of understanding simple statements.

Not really bjornagain ~ they were the last of the shares held in my name, we still have some in my wifes ISA. My money is her money, her money is mine. Overall holding reduced, mine all gone. I think you're clutching but for what I've no idea.

Not squirming bjorn just playing along as you've clearly got some sort of mental issue and I didn't want to aggravate it.

No bjornagain I posted the price I'd sold at on the 16th as I've just said. I've now also posted the actual trade so if you want you can check against that days trades too if you really feel the need.

Why do you care? I've posted the trade. I posted that I'd sold on the 16th.

They always talk of JV and corporate opportunities to meet reverse takeover rules separately so clearly they themselves don't believe it's enough. Example 19th August RNS: "As previously advised, the Board has been pursuing a number of corporate opportunities and remains confident that it will be able to complete a reverse takeover transaction within the six months following completion of the Divestment and maintain the admission of Stratmin's ordinary shares to trading on AIM. Vatomaina project In addition, the Company has been preparing to initiate funding of the Joint Venture with partner, Tirupati Carbons and Chemicals Pvt Ltd, to develop a 12,000 ton per annum flake graphite concentrate mine and processing plant at Vatomaina in Madagascar. The Vatomaina project has progressed significantly since the Joint Venture was first agreed in February 2015 and is now entering development stage. "

Jimbo you're the one talking your own book as your recent posts have finally admitted ~ all the time you've been ramptastic on this share you've been trading the spikes and falls. It has been in your personal interest to talk the shares up to artificial highs so you can sell and then rebuy when reality sinks back in. When STGR finally put together an investment case worthy of staking money on I'll put money back in and post positive views. Despite your ramping posts the sp on this share has fallen through the floor. The fall has nothing to do with shorters but everything to do with underlying company performance which hs been dismal.