Member Info for Sageman

I love that AA are shouting about what a fantastic deal they are doing. When something is attractive to one major player it generally is to others. This is not a done deal. I await the arrival of other options.

We were expecting dilution at best which may or may not have given a lower SP. However, we could have gone bust. AA may or may not purchase this share. I actually believe that other suiters will emerge. However, if you really believe in this project and want to share in its future then whoever buys it you just need to buy their shares! You will be diversified across their other projects and de-risked from a funding perspective. If you think long term and beyond SXX in its current guise a takeover is not bad if you buy the shares of the company involved.

When you are unemployed it is hard to get a job. When you have a job other employers want you. Once commercial value is recognised by one suites other suites want you. Have you never noticed how much more attractive you are to the opposite sex when you are out with your partner? I believe that this is not the end of the journey.

Steptoes, I have not sold a single UKOG share. I hold several million. I am glad that you understand how dilution works. Sadly so does the market which is why the current sp is where it is! The SP reflects the total value of the company divided by the shares in issue. Thus if shares in issue multiply by 5 then if the company remains at the same value a £1 party becomes a 20p party.

Steptoes the post where you said the number of shares is irrelevant was arguably the most financially illiterate post i have ever read. I will make it easy for you. If something is worth £100 and you have 100 shares each share is worth £1. If you have 1000 shares shares then each share is worth 10p. 10,000 shares = 1p. Sadly SS is equally as financially illiterate as you and does not understand that unless you increase value by the amount of new shares issued you decimate shareholder value. I can honestly say that if he worked for me he would have been sacked long ago for financial incompetence which has led to the destruction of shareholder value. He is an irresponsible risk taker, financially illiterate with a massive ego.

FWIW with shares like this I set an absolute maximum of 2% of my portfolio and never invest more. If I then want to trade I wait for a spike and sell 1/3rd of my holding. If they multi bag thereafter I still make good money. If they retrace I reinvest at a lower level thus averaging down . It isn’t perfect but it means I sleep at night. GLA whatever your strategy.

I see that the deliberately obtuse/ intellectually derelict brigade have been out in force again...bless! What I know is this. When companies do due diligence non disclosure agreements are signed. Legally no one can say anything. Thereafter independent due diligence takes place and it can take forever. In the meantime everyone is bound to silence. At the end of the process a deal either does or doesn’t happen and no one gives a flying fig what excluded third parties have to say during the process. If the finance deal happens we will get diluted but hopefully still make money. If it doesn’t we will get shafted with the pickings going to a third party. Either way the mine will get built. The only question is whether SXX shareholders will make any money. So basically you just need to wait...patience.

The main thing is that the paralysis at the centre of government has been removed . Time will be freed up yes for the NHS but other main issues like IR35 which is paralysingly tech, stamp duty which is killing the housing market. Lots of things that business needs dealt with to move forward.

Suggest you check out UK national debt clock. 2.25 trillion with interest over £5000 per second. If it gets out of control the interest would cost more that the NHS, education and defence combined. That’s why we had austerity. Actually is austerity when you exceed your income by £30bn per year or does it just feel like it when previously you were overspending by £150bn per year!

In the referendum over 2m voted to stay in the union and 45% voted to leave. In the general election the SNP received 45% of the vote and 1.25m votes. Sturgeon clearly has no mandate for another referendum !

Rogue, fool articles are generally poorly researched and of little merit. The financial package has substantially altered from the previous plan. The mine will get built the only question is to what extent , if any, current investors will benefit. FWIW my view is that we will see our money back but with dilution etc we could be talking years to see 20p of value ( sp plus dividends). Very high risk, no guarantees but at this price worth a small punt....but it is a punt not an investment.

Sadly life has always been unfair. Some are born with mental and physical bonuses others are born less well blessed. We accept this but not that some are born with more money. The fact that some of the richest in our society were born in poverty and that the majority of millionaires are self made is ignored by dogma. So how could we make everyone the same financially. Ban inherited wealth. Then pay us all the same say £300 pw. But if one person saves 50% of their money and the other spends it all after just 4 weeks you have major inequality. Of course you could make everyone spend the same, ban savings or pay everyone a pittance so that they could not save! The reality I that you simply can’t stop financial inequality.

I liked the presentation. It begged the question why they did not follow this route to start with. Raising less money now is easier and the fact that debt is incurred later makes debt repayment easier. I get the feeling that they have listened intently and make some very necessary changes. We will see dilution but I feel confident that it will get built and that with patience I will get my money back. One nugget that I gleaned from the presentation is that by de risking the second tranche of fund raising they expect far better terms. The whole thing seems to have been honed and focused from both a financial and operational perspective.

Old rascal Personally I have not lost a penny here yet as I have not sold. Investment is a game. The game is still in play. If I exit the game now I lose if I keep playing I may still win. In Tennis terms this could be a 5 setter with no tie break in the final set!

As I said on the weekend. This Is binary. If it gets built then the patient will probably get their money back over time. If it goes bust we lose. The latter option now looks less likely. In terms of option 1 it depends on B/E level for each investor and just how much dilution. The £5 party seems unlikely any time soon but 20p now looks possible over the next few years.

Hi Rogue, agree with you about fund managers fees - rarely worth it. I prefer ETF’s and index trackers. On Aim you need discipline and lots of patience. It helps if your exposure is modest because you can then thing objectively. Most get rich quick shares are lose quick shares and enrich someone else. I remember penny share guide back in the 80’s!

I have a simple rule that I will share when dealing with Aim. I never invest more than 1% of my portfolio on a single stock initially. I then set an overall maximum of 2%. I never have more that 10% of my total portfolio in single stocks. The bulk of the portfolio is globally diversified across a wide range of assets. It means that whilst a 10 bagger makes a difference I don’t lose sleep when things go wrong. As an example I had a B/E on AMC of 5p but only 0.3% of portfolio. Bought more at 3.2p = now 0.5% of portfolio. If it falls I may buy some more. I am maxed out on SXX at just over 10p. This stock is now binary. If we get finance in time all posters will make money. If we do not get finance we will all lose. It follows if you are already fully exposed further investment is unwise. Patience is now key. The deposit is first class, it will get built. The only questions are by who and will we see any return. GLA

I so love desperate shorters! It is not rocket science to see that with the government pumping money into the region, our mine being previously identified as key for development and Riverfort out that our prospects have been transformed especially since Nickel has increased in price. We await detail, an RNS, what exactly will the government be spending their cash on in terms of infrastructure. Will we now get bought out? Too soon for £1 party and all that nonsense but early enough to see that the mood music has changes and a re-rate justified.

Captain , do not try to defend the indefensible. Your posts show a lack of integrity and any money made in those circumstances is nothing to be proud of. I would rather have my integrity intact than whatever loose change you made here.

The issue is that you never know everything. This is a FTSE250 stock not some AIM start up. People here who thought that they "knew" including me are sitting on losses. People who thought they "knew" about Halifax and RBS made huge losses in 2007/2008. The bulk of my money is spread globally across index trackers with a small portion kept back for high risk plays like this. Invest as you see fit but my 1% , 2% rule has saved me a fortune over the years.