Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
How do you acquire 80m shares under the radar? Presumably mostly under the 0.35p range. Nice work if you can get it.
I wonder what price a Joe Bloggs PI would have to pay - lol You’ve got to laugh.
Now four different parties holding circa 80m to 90m shares.
We’ve only got to wait until Christmas for 1p -JP says
Or Christmas might come early and 1p might be the starting point!
Good luck all.
A couple of questions for our esteemed BOD.
How many suitors are currently in our ‘data room’?
How long will our full PEPR ‘copy and paste’ take? Will it be 2 months or two years?
Will we need a fund raise in the 0.10’s to cover the cost of the full PEPR application or might the BOD forfeit their salaries for a while to negate the need for a fundraise?
JP says 1p by Christmas, now then if previous predictions by JP are anything to go by then let’s be a bit realistic. How about halving the SP prediction and then to be on the safe side, let’s double the timeframe and say next Christmas.
How about an SP of 0.50p by December 2023. No rush though the monthly salaries keep rolling in.
JP says it’s a 4 bagger from here. An SP of 1p by Christmas says JP; we can wait another 4 months can’t we? What’s another 4 months when we’ve been waiting 3 years?
It’s coming home!
Or will it be yet another Capital Raise in the 0.10’s - let’s see.
The problem is obvious here. Company X or Company Y (who have been in our data room - lol) won’t cough up circa £10m for the current PEPR lite LCCM project which is all we currently have permission for! The PEPR lite element has a NPV of less than £10m, so I suspect that it ain’t going to happen until we get the full PEPR for an overall circa £50m + project. Then and only then a funder might come forward. But don’t worry, JP has said it’s a 5 minute ‘copy and paste’ job to get the full PEPR submitted.
Oh, just remembered, the last PEPR took 18 months to be approved even though we were told it would only take a couple of months! AIMOO
We’ve had a 3 year lock in here.
August 2019 was the Last time we were over 1p. Most people are between 50% and 80% down here. Even Fira who was a recent buyer at 0.48p is underwater by 50%. Shocking performance for the shareholders. Selling Redmoor for a decent price could possibly be an option and could just save our bacon. However, further capital raises and dilution in the 0.10’s are much more likely as the BOD have ‘gone to ground again’
Lupi - ‘would have been nice to have a balanced view’ - It would not have made any difference who attended the AGM and what RichyP is telling us will be factually correct and will have been what was said.
The problem though as we all know is that we’ve heard it all before and yet very little happens. It’s the things we don’t know about that are the worry / barriers. For example, the potential funders / JV partners might be ‘on hold’ until the full PEPR is approved thus making it a more valuable project and better overall proposition etc. but we’re not going to be told that because that could be another 6 to 12 months away. At the end of the day, partners / funders would have been queuing up if LCCM was ‘such a good thing’. Good luck all, we’re going to need it. Redmoor might yet come to our rescue.
RichyP - Glad the AGM was all positive.
However, it was all very positive in the Rutland Arms 3 years ago and yet the SP has crashed since then. The interview on Friday was the same old same old as we’ve seen many times before:
If, when, but, maybe, soon, next year, copy and paste, no problem, billion pound Mcap etc. etc. However, nothing is ever finalised and there’s always another bridge to cross.
LCCM production and revenue was promised in 2019, 2020, 2021 and 2022!!
Unfortunately, The market has SML right where it wants it. Can someone tell me how you raise £10m for a company with an Mcap of £6m??
Excellent post Lupi
Lupi makes the important point that LCCM is now an asset and will get written into the Accounts as an asset and ordinarily this would then be reflected in the Mcap (albeit at a lower level) until finance is in place etc.
When we get into the 0.10’s maybe a reverse takeover or aggressive takeover could be on the cards with such a low Mcap.
I’ve basically written off this investment now. Possibly my worst ever decision to invest my life savings in SML. AIM as we know is a Jungle for the uninitiated; very occasionally you get lucky but normally the outcome is not good.
Almost 12 months on from approval with conditions! Clearly something is not right as this is taking an age. We’ve learned over the years that nothing is straightforward with SML. There’s always another if, but or ‘when we get...’ Experience has shown us that when it goes quiet it’s not as rosy as one might expect. Long gone are the days of regular RNS’s and appearances on Proactive Investors.
Update required please!
An update from our BOD would be nice.
We’re almost 5 months on from the revised PEPR submission in early January and 11 months on from the original approval with conditions.!
We were told this last submission would likely be dealt with in less than 3 months??