Member Info for saintpeter7

Just been looking at the chart for the last 3 months and reminded me of a heart beat trace! Need to apply a defibrillator I think to give it a jump start! LOL. They say you need the patience of a saint with some shares on AIM!

Thanks SMT for that info. I guessed the delay might be because of the implementation of the new accounting standards. IMHO the SP is now very cheap; after all its fallen some 40% since the beginning of December and of course much more going back further and I do not see there being any good reason for that other than the effect of the seller, who first attacked during December and again since mid-March. The company have said that the underlying results will be up with market expectations and I have no reason to disbelieve them. After buying in at 49p, I did buy more after the previous big drop at 32p. My chart currently shows a possible drop to 18p! At that SP, it would be a bargain and even at the current price, you have to say it is. This could turn out to be a bagger amazingly once the seller has finished.

Tillerman - If I have time, I will phone on Monday, assuming we don't have an RNS. I don't expect to be told anything, but it must be worth a try. With the deadline of 5 April, if the EGM has to be held before then, notice would have to be given by Wednesday if my calculations are correct, but do we know whether the EGM has to be held before the deadline or just confirmation that the RTO has been arranged subject to an EGM resolution approving it? Hopefully we will have that illusive RNS by Wednesday, but I am pessimistic I'm afraid.

Good post Tillerman. I am concerned that the RTO may not be arranged in time as we have not heard yet. If they do run out of time, I suppose they could list on the Nex Exchange and then complete the RTO on the basis that they apply to relist on AIM. Clutching at straws may be. There seems to be a right mess going on at Regent Pacific (see PLE), the company which currently holds 22% of DBC and with which JM is also involved. So is JM on the ball or not? We shall no doubt find out by early next week. Fingers crossed!

Unless the SP is going to fall below 26p, we could see quite a bounce off the bottom trend line, which the SP is close to touching. Even though the results may look awful due to the accounting adjustment which I expect them to make, if sufficient investors see past that at the underlying growth, it may be that they will be the springboard for a healthy rise back up to 40p initially. In percentage terms not bad if you are brave enough to buy at the current level. This is definitely not a forecast! Each to their own.

You will note Michinoko Ltd as a 15.46% shareholder. However, this company was struck off in October 2016 according to the ICIJ Offshore Leaks database, which shows that it was a company registered in the BVI and had connections with Guernsey. So I don't know what happened to their shareholding. It may well have been passed to one of their subsidiaries before they were struck off. As SMA's website is not up to date other than with notice of press releases issued, the shareholding info may be out of date. I expect you have discovered that already.

SMA's website shows the position - http://www.sovmines.com/shareholder-information/ So, it appears that the free float is 58.4% although Mr & Mrs Pearl own 3.41% as shown and N A Steinberg owns 2.45% per 4-traders.com. So nearer to 50% in reality. Night

Current SP for Volcanic is down a couple of cents at $0.58, but it does seem to keep knocking its head on the $0.60 mark. I agree that once that resistance is broken, it will more than likely rise towards the $1 mark initially. The Bod of SMA must have known what they were doing when they sold the Guinea resource for shares in Volcanic. They should be congratulated when you consider it had been written down to a nil value in SMA's accounts and now its worth about £1.2m. With SMA's current mcap at about £3.5m, that leaves the shell value at £2.3m. What we don't know of course and can only speculate on is how far the Bod are down the road towards sealing an RTO deal. They did say that they were carrying out due diligence on a company back in November. Hopefully, that is coming to a conclusion and they are looking at the required fund-raising. Technically they do have until 20 July I believe to complete an RTO. If we have to wait that long, so be it, but let's hope it is well before then, eh!

Vienna I like this at the end of their press release:- Volcanic brings together a deeply experienced and successful mining, exploration and capital markets team focused on building a multi-million ounce gold resource in the underexplored West African country of Guinea and its neighbouring countries. Through the strategic acquisition of mineral properties with demonstrated potential for hosting gold resources, and by undertaking effective exploration and drill programs, Volcanic looks to become a leading junior gold resource company. SMA will hopefully feel able to continue to hold its shareholding in Volcanic as it could be an excellent investment as time passes. In that it appears that KENV has its future for 2017 truly set out, I hope Giles Clarke can now with his directors work his magic at SMA and find us that RTO soon. We patiently await.

I have assumed it was as a result of a leak on the results as they are due any day, but who knows. Certainly a few more trades than usual. Long term MYT should prove profitable, but with continuous building of wind farms and now solar, I do worry we will have to wait a while.

It seems it's being left to the last minute as the deadline is 5 April. I'm not sure if I am right, but don't the shareholders in LIFE have to be given at least 14 days notice of the EGM which has to be held to pass a resolution to approve the intended RTO and this has to be done by 5 April to avoid the AIM listing being cancelled?

What investors who have sold seem to have forgotten is that this is an undoubted growth stock as shown by the latest results with a healthy jump in services sold, with new contracts agreed in the last few months and the potential for larger sums from Apple or the BBC in the not too distant future. The technology is advanced and a leader in its field and we have in Stephen Streater a whizzkid. As has been said the share is oversold and IMHO there is a great opportunity to double your money and more before the end of 2017.

And yes your shares are still of some value. Have a look at the NexExchange website if you haven't already and you will find Forbes Ventures and the SP bid and offer. Rather low at present compared with when they were last quoted on AIM, but you never know a few years from now what their value may be if they select the right companies to invest in and help. As I said before, a bottom drawer share, if the value of your holding is a small part of your portfolio and you don't need the money you would get from selling.

The company does not need a NOMAD on NexExchange. They instead have a Corporate Advisor who does a similar job. Peterhouse Corporate Finance Ltd (PCFL) are their Corporate Advisor. As a matter of interest who do you think is managing director of PCFL? Heena Karani! I presume she may be related to Manish Karani, FOR's Non-executive director? Whether or not they are related does not matter really. PCFL are the largest NexExchange Corporate Advisor and so we are in good hands from that point of view.

Pokerchips correct - I am an accountant and that was a fair description. The deferred revenue at about 34.8% of the turnover for the year emphasises the underlying growth that has been highlighted by the chairman in his report. Looking at the interim and final results for the last two years, the revenue earned as been as follows:- 2015 H1 £327K H2 £382K 2016 H1 £327K H2 £448K. So this shows a decline in revenue earned from 2015 H2 to 2016 H1, but then a 37% increase from 2016 H1 to 2016 H2. The deferred revenue will be part of revenue earned in 2017. What is impossible to tell is whether all of that will appear in the first half of the year or not.

Anyone know the reason for the drop? Are the results out?

And I shall be very happy to be wrong in terms of the speed of the SP rise!

My view for what it's worth is that the results were good and perhaps much as expected. IMHO the SP certainly does not overvalue the company at its current stage and what we may see is little movement compared with Friday's close by the end of today. What most investors are waiting for is news on the BBC/Apple projects, which we may not get for a month or two and that ahead of that the SP will rise. So with the SP near the bottom of the trading range, it must be worth holding if already invested. We shall see.

Sorry bonker - for the uninitiated, what does that mean?

GC - yes you are correct - my mistake.