Member Info for Saint68

Two great posts this evening Dancesca. Sounds like we’re on the same wavelength. Keep up the good work.

Another armchair general reported and binned.

One day Woodlaker, you may provide some useful information instead of your constant negativity. So far you've been about as much use as a chocolate fireguard. Don't bother replying as I won't be able to read it - binned.

Magnum - ok we’ll agree to disagree on the board / adviser to the board issue but what do you hope to gain by trying to force an EGM ?
They’ve already told us by RNS and emails to enquiring shareholders that there is no more they can currently tell us in the current climate. What do you expect them to say at this potential meeting ? They will be unable to mention anything that is price sensitive.

I’m guessing that you don’t know why Dmitry left the board ? If you think that he has no say in proceedings then I feel you’re sadly mistaken. Without trawling through all the old RNS’ I don’t exactly know how much CS has paid but I do know that many were in lieu of a salary. Feel free to go and work it out if you need to know.

Magnum - although no longer a board member Dmitry is still the m&a adviser and is the largest individual shareholder. Who would you have to replace him, as I guess you blame him as much as the BOD ?
DMITRY SUSCHOV
Mergers and Acquisitions Officer
Commodities trading veteran (primarily various grades of metallurgical and thermal coals) who has successfully built a major Pulverized Coal Injection (PCI) franchise throughout Asia, Europe and America with an annual turnover of up to $100 million, thereby accumulating around 2.5% of the global PCI market share. He is also an investment banker with extensive experience in the Russian resources industry having previously worked with IG Capital, MDM Bank, PricewaterhouseCoopers and Ernst&Young as mining & metals leader in corporate finance for Russia and CIS. Dmitry has a successful track record of leading the strategic sales of companies in the natural resource sector including the sale of a silica sand mine and the second largest global carborundum production company to Indian Murugappa Group, the sale of a natural resource company to Danish natural resource fund, the sale of a gas company to a major Russian investment group and other deals.

'Yes, that's right. Replace the BOD with one that can work for the shareholders which is their fiduciary duty. In this case it would be to sell the business to return value to shareholders as stated strategy or create a profitable business which would value the business at a higher level than now. Doing nothing does not add value nor satisfies the duty the board has to its shareholders'

Magnum - can’t believe you think that replacing the BOD (who own a massive amount of shares) with a team with no skin in the game would be beneficial to shareholders. The current BOD have already told us that they are working to get the best outcome for shareholders but due to the current situation they cannot divulge any more information- what about this is difficult for you to understand ?

Agreed BOB. The fact the the options were only extended for 6 months suggests to me that the BOD were relatively confident that everything would be resolved by then. If it's not then I would expect an update at that point.

I do think that we should be updated, under normal circumstances, but these are anything but normal circumstances.
Many of the share they have were taken in lieu of wages so definitely not all awarded. Share breakdown can be found on the website.

Totally agree Layla1. Forcing their hand now may prove to be a bad decision. The BOD and advisers are the largest shareholders and they're undoubtedly very disappointed by the current SP. Various shareholders here have been told via email that they cannot currently update us so trying to force an EGM for potentially no benefit seems a waste of effort.

Butchers - wasn't it 4m not 400k that we raised ?

Del - I had a very similar response to the email I sent. Basically a "we would if we could but we can't currently give any updates". I'm ok with that and happy to sit it out for now.

Well said Layla :-)

Hi Del. I view the silence as if they were able to provide facts they would so they must have a reason to withhold . Should things improve in Ukraine and we still don't hear anything then I would then feel very twitchy indeed. The MM's can do as they please with the SP - it makes not a jot of difference to my strategy. This may well prove to be foolish on my part but I am relatively confident that we will see a positive end to this. I understand everyone is different and many prefer lots of RNS's but sometimes they just cause confusion. Hope we all get rewarded for out patience. GLALTH.

Del - as much as I would like more information from the BOD I have no problem with the silence. Nobody on here knows the full story of what implications may be involved with regards sanctions. The BOD and advisers are some of the largest shareholders and there's no way they're happy with the decline in the sp. They have more skin in the game than anyone on here so I have to assume they're working on the best result for all. Happy to wait but hope a result comes sooner than later.

As Vlad once stated - why sell now for millions when in time it could be billions

https://twitter.com/scancellpharma/status/1639018135704461312

Johnboi - I think it can be listed as a loss on your tax return but I would recommend not listening to anyone on these BB's and get professional advice from an accountant.

I emailed the company on Monday to enquire about a potential Rosgeo extension but haven't heard anything yet. I'll post an update if I get one - unless an RNS lands first.

Robbo89 - just a pointer but in your last few posts you've stated "trail" - should be trial. Semantics but it's playing havoc with my OCD :-)