Member Info for saintpeter7

Sarkozy - I can understand your concerns earlier in the year about the margin between the SP and the net assets of the company and I do understand that there is a material premium in the SP now compared with the company's liquid resources. That is a risk that investors have chosen to take and can work out easily for themselves. But why the acidic nature of your comments? I do note that you did have one positive post - do you remember 18 March when under the heading of 'Looks Interesting', you posted 'Fill yer boots'. Why that sudden positive comment amongst all the other negative ones? Why do you bother continuing to post on this one particular share?

Daisan, just been looking at this. Company had just over $1m in liquid or near liquid form at 29 September, current value c. £800K. If say £750K is left for the 7% investment in DBC, that will value DBC at c. £10.7m. DBC has 605,477 shares currently in issue, which would value the shares at c. £17.70 each. Looking back to July 2015, the shares were changing hands at about £13.40 each; so £17.70 does not seem out of line, considering that we are 16 months further on. This article at http://www.gecr.co.uk/latest-research/2015/7/27/the-diabetic-boot-company-targeting-a-significant-global-unmet-need considered the possibility of the shares being worth £30.61 assuming a high discount rate of 40% and a market share of just 5% and assuming a lower discount rate of 30%, a target price of £63.59, or 3.6 times the £17.70 issue price that I have supposed from my rough calculations. Of course this is all speculation, but it is encouraging to consider when the RTO eventually happens. I have no idea how much longer we have to wait for the details of the RTO to be issued; at worst we might have to wait until March next year when the 6 month AIM time limit ends. DBC seems to be attending one exhibition /conference after another all part of the marketing needed. Patience will be rewarded I trust!

Hi Vienna - I had noted the SP for Volcanic had risen from 4cts to 23 cts this year. Although at first glance, the arrangement for the Guinea asset seemed poor, with the 9.9% shareholding SMA will have in Volcanic, if it's SP continues to grow as it has done this year, it seems to be a smart move, given the limited offers SMA may have obtained. No doubt, the Bod did a lot of research into Volcanic and its potential. I note that Volcanic is not only quoted in Canada, but also Germany. Eager to see what the Bod come up with for the RTO.

You can still buy in you know Sarkozy. In 12 months time, IMHO you will have wished you had. I'd love to know who these poor unprotected punters are. Every investor of any sense will do sufficient research to make up their own mind. Did you hold shares in SMA or are you just a guardian angel.

I can only suppose the company is "concentrating" on this potential offer. lol

Dear Jim, Could you please update us with any progress on the RTO of the Diabetic Boot Company. I am patiently waiting. Yours sincerely Shareholder

If by any chance you read these BBs, could the Bod please let us know why you bothered investing in Polemos? I guess it wasn't because you had some spare cash and did not know what you wanted to do with it! From a frustrated shareholder in Polemos

Further to my previous post, I note that Giles Clarke is also chairman of AMER, IRON and KENV. Camkite drew this to our attention on Monday.

Yes, the longer we wait the more I am hopeful that the Bod will be recommending acceptance of an offer for a material interest in the company. Let's hope that proves to be the case as if it does we could have a major increase in the SP. Also downside if no offer is made would probably not be long lasting as the company does have a source of income from the concentrates business, which does make a profit.

Happier today with the bounce in the SP. Certainly there were a number of good size purchases in the low 80s. To what extent that was simply down to speculation or the knowledge that whatever is reversed into SMA will be of very good quality. No doubt, we shall not have to wait long before we find out. With the mcap some maybe £4 million more than the cash held, it has to be good to justify the SP. I did read on here that chairman Giles Clarke is someone to back based on his past ventures.

Disappointed to see the price drop at lunch time due to automatic trade sales. The SP is now at the same as it was when it bottomed on 19 June - 46p. There is also the support level at 42p so here's hoping it recovers from here. As last posted, potential 60p in next 2/3 months if the support holds.

Hi Vienna - I found the same website - a very strange link from Reuters. I have noted though that Volcanic Metals' SP has risen from 4cts to 23cts this year so that if they turn out to be a real growth story, the value of SMA's holding could become more meaningful than it is now, assuming the deal goes through. Pity SMA did not sell the Guinea asset to them at the beginning of the year!

I notice that since the beginning of the year when the SP bottomed at 42p, the share price has been in a gradual uptrend with peaks in April and August, the last at 60.5p. The SP seems to have bottomed twice on 23 September and 28 October at 47/48p and we could be in for a rise back up towards 60p in the next 2/3 months. IMHO there does not appear to be much downside risk and now may therefore be a good time to buy. I did buy recently at 49.5p and have profited from Mytrah before by managing to buy low. No guarantees of course.

After today's very disappointing news, the Bod had better finalise the details of the mining asset that is to be reversed into SMA before the SP drops further and they find it difficult to raise further funds. I have a decent holding which now shows a loss of roughly 30% and of course the question is do I accept the loss and move on or hold for the RTO and the probable eventual gain from that? Probably will stick with it accepting that I may have to wait several months for the SP to recover and for me to recover the loss. After all, the asset may be a real winner - here's hoping! The Bod had said that the asset had been written down to nil in the books so I suppose we should not have expected much and with hindsight the SP was too high.

Could be any day now that we hear whether an acceptable offer has been made. This seems like a reasonable punt the longer we wait to hear

It appears that the mms are stocking up as the bid price drops with just 2 sales at 0.71. Are we about to receive the news we have all been waiting for? Sincerely hope so. Surely, a time to top-up if you have faith in the management's indicated plans. I and my family hold 4.3m shares; so slightly concerned about the drop, but not selling as IMHO we shall be rewarded in the next few weeks.

Re your post Martin, I will add that the CULs holders will be paying 0.3p per share according to my calculations. This is based on this statement from the RNS of 1 November: "Upon conversion, the CULs Investors shall obtain new Ordinary Shares in the Company equivalent to 65.54% of the enlarged share capital of the Company, based on the current issued share capital of 113,918,497 ordinary 5p shares following the issue of the Robust Shares." IMHO in other words, the CULs investors will own 65.54% of the share capital after the issue of the shares to them arising on conversion. So the number of ordinary shares in issue will be 330,585,164 after the conversion, as they will own 216,666,667 (65.54%) and the current holders the 113,918,497 (34.46%). I arrive at the 0.3p conversion price by dividing the cost to them of £650,000 by the 216,666,667 shares they will receive. Why the company could not say this in the RNS instead of leaving it for investors to calculate I can only suppose is that they did not want it to be obvious how cheaply the CULs investors are getting their shares, compared to the market value at the time of the announcement. The conversion and the consequent issue of new shares will happen after the EGM. There will be 113,918,497 deferred shares as well but as the RNS says they are worthless and so therefore can be ignored. They have to be issued as part of the re-organisation because of the reduction in the nominal value of the ordinary shares. Forbes Ventures is just a change of name for Tengri. Assuming they have little cash left after paying Robust the $200K early on in the settling of Robust's debt, the company will have between £650k and £750k cash, the actual amount depending on how much has been used on admin since the £100k placing. So according to my calculations, there will be 330,585,164 ordinary shares in issue and say £750k cash in the company, equivalent to 0.2268p per share. The cash will be used towards buying another company and one can expect a further placing to fund the balance of the cost. This will happen after the re-organisation and the pricing of the placing can be at any price at or above the new nominal value of the shares of 0.1p. Let the buyer beware! to use an old fashioned saying.

Is needed with SMA. Still a good bet for an exciting future, but surprised at the drop today. Hoping for a bounce tomorrow as the SP is on the bottom upward trend line now. Surely not much longer to wait.

Martin what you need to take into account is that the £650K CULs will become new shares and therefore once they are issued there will be a considerable number more shares in issue. Another way to look at the value of Tengri is that at 1.75p middle price tonight the company has an mcap of £1.92m. The company will have raised £750K, the initial £100K and the further £650K. Whatever other cash they have may be minimal, having paid Robust $200K. So you could look at Tengri as having an mcap some £1.17m higher than the cash it holds. I have seen an AIM listing as being said to be worth some £500K, which leaves £670K for the inherent value attached to the company that reverses into Tengri. There are of course continuing admin costs. Is that £670K too high? Hopefully I have these calculations correct and I have taken into account all that needs to be. These figures should therefore not be relied upon by any investor in making a decision as to whether to hold, buy or sell. I would expect any prudent investor anyway to do their own research.

Saw there was an RNS today. Thought - the SP hasn't shot up. So what does it say. Oh - the annual results. Never mind. Not the one we are all hoping for, but at least a solid day's progress in the SP. Not that that will matter if an offer is accepted by the Board.