My current view on the EGM8 Jun 2020 16:45
The RNS is essentially a sales document. It was, in my opinion written to get PIs salivating with excitement and anticipation and throwing all sorts of ecstatically assumptive ‘what ifs’ at the bulleting boards at what they presume and hope the resulting outcome will be in the short to medium term.
Against the backcloth of deliberately misleading statements, missed timescales and milestones over the past two years, how can anyone believe what the RNS says? Oh, but the RNS is a legal document you may say and has to be factually correct. Yes, they are supposed to be factually correct. But so should the statements made in interviews and presentations, many of which have withered on the vine. Bitter acidic vinegar is what we got, not a delicious and savoured wine.
Ah, but I hear some mentioning, with Tom Bowen and Adam Habib joining the cause, there is new energy, focus, strategy and impetus.
And with a surprising amount of certainty, the possibility of deals mentioned in the RNS is because they are on board and have been busy working on deals which are probably close to signing. Yep, they might well be, but we don’t KNOW that is what is happening.
The uber optimistic PIs just join all the dots together to get a picture which they would like to see. That’s what the BoD want them to do. PIs to sell the RNS to themselves.
Mmm … notice there was no mention of a possible JV or off take agreement in the RNS. A careless oversight? Or does that mean that there isn’t anything like that in the pipeline?
In Adam Habib's interview, unless my memory is failing me, I remember him specifically saying that there will be no offtake agreements in the near future.
The BoD know we are desperate for real news given the drought of the last two years and they know precisely how some posters will react to the news. The RNS, full of vague statements, is designed to sate the pent up expectations of the uber optimistic, and capitalise on the opportunity to increase the issued shares.
RY comments in late 2018, “strong newsflow” and media week was followed by a total vacuum in relation to the expected news … like the 2018 drilling results.
I don’t believe the reasons given for withholding the 2018 drilling results. It is one of the main reasons why the share price has been so low for so long. Very useful if the directors were planning on buying shares, which some have done in lieu of salary. And maybe Tom Bowens and Adam Habib also wanted to buy in as cheap as possible?
I, personally, cannot happily agree to the doubling of issued shares without more solid information on which to base a firm decision. It’s like putting King Herod in charge of the nursery.
A final thought. Why Salisbury?
Mmm … isn’t that where Russian agents tried to poison the Russian spy Sergei Skripal and his daughter Yulia in March 2018?
A mere unfortunate coincidence? Or are they attempting to kill off our hopes and dreams as well?
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