I know your disappointed by the progress of SMA but what I've stated about my experience is true. I'd be willing to have the facts verified by an independent arbiter on the basis that you will donate £1000 to the charity of my choice when I'm proved correct. What do you say?
A perfectly reasonable request Damocles. Firstly let me state that I have no animosity towards the current BoD. I am merely an interested bystander. Following the new Bod's "takeover" shares were issued at 0.1p. At that point there was still a reasonable expectation that there was some remaining value attributable to the company's exploration assets. In the outcome it turned out that the emperor was in fact almost naked and that the residue comprises of almost nugatory value. Coming to the present the BoD has so far proved incapable of finding a suitable RTO and time is running short. As of today the net asset value per share is substantially less than 0.1p/share. As someone who has participated in negotiating several RTO's I am fully conscious of the intrinsic value to an incoming RTO. The reality is that it is far simpler to pursue a listing than to undertake a RTO. There is rarely any cost saving and normally a lot of heartache and hassle connected with legacy issues. The only time it makes sense is where the BoD/Advisers are capable of assisting with a fundraising and/or stock promotion plan. To be perfectly candid SMA is not an overly attractive candidate.
Double? I don't think so. Did you learn about fractions at school?
At last. By George he's got it! Even Mr. Sparrow's legendary abilities will find it a challenge to persuade a RTO candidate to accept a deal at more than 0.1p (especially when the net cash/share is less than half of that paltry amount). That's before anyone asks about possible contingent liabilities and legal/environmental risks. Woof woof!
Shall we?
My little sausage, your naivety knows no bounds.The "two new guys" have zero experience of negotiating RTO's on AIM. Whereas Giles certainly has a long track record, trying to do a deal at a value north of 0.1p is going to be a very tough ask. Other than the tiny amount of cash on hand there's nothing to get the Chinese excited about (unless their objective in getting hold of SMA is nefarious). Sorry to have to spoil your Xmas but the sun just ain't coming!
I'm guessing that Burger King is a treat for you and your little mates, my old wiener sausage. FYI-"Old milkers" have become very popular recently. The trend started in Galicia in the North of Spain where they slowly broil "chuletons" from old milk cows over wooden embers. Casa Julian near San Sebastian does a great example although you can now find it in London at places like Kitty Fisher in Shepherd's Market. Re-Sir Phil: you are probably aware that no one is speaking to Phil any more in Monaco. He's acquired the financial version of leprosy. Haha.x
Haha. Your understanding is indeed rather limited, my little sausage, otherwise you'd have cleared out of SMA a long time ago.The clock is ticking as the 6 months deadline slips away. Tick, tock.
Have you tried magic mushrooms? I've head they're awfully effective for treating your kind of affliction.
holding up this rapidly deflating balloon. A couple of weeks ago, I predicted a placing at 0.3p to accompany a RTO. Now I'm not so sure. Having disposed of the Mandiana "assets" to a bankrupt Canadian shell there's nothing left bar a few hundred thousand of diminishing cash. That represents a tiny fraction of the current share price. What's the value of an AIM shell that's got less than 6 months to do a deal? Not much in the present market. Maybe half a bar on a good day.Given the enormous number of shares out there and remaining to be issued post RTO that means a price of not more than 0.1p-ironically the same price that Giles and his merry crew paid for their entry ticket. The curse of Pearl has struck again.
Volcanic. Schmolcanic. What a pile of dog's doings. If that's the best your BOD can do you're better off investing in premium bonds.
What RTO? This is a turkey. Christmas is coming. We all know what happens to turkeys!
Two fifths of "f-all" is still 0. That's the value of SMA. Now it's trousers are well and truly down there's nothing there. You can dress it up with new directors, issue millions of warrants but the end result was always going to be the same. The current share price represents an excellent (and maybe final) opportunity to bail out. Don't say you weren't warned by old Sarky-friend of the poor little unprotected punter.
The building is an accommodation address. Eugen de Buren has closed down. RIP. Street now has the opportunity to do the same with SMA.
Not sure why you think that would be fabulous for you. The price will be 0.3p if it's sustained in the after-market as opposed to .7-.8 now?? Try keeping off the sauce at lunch time!
The Directors collective investment in SMA wouldn't buy a one car garage in Central London. That's not substantial. It's a micro sum. Fact is they've tried to sell the so called assets (no takers), tried to find a RTO (no interest). Time is now running out so to appease the AIM/the LSE they're pretending that SMA is an operating company by appointing a CEO (at zero cost). Next stage is to inject some equally worthless assets in the hope of finding sufficiently stupid investors to back this worthless piece of ****
Massive dilution coming down the road to finance the next stage of lunacy at SMA. The so called gold "assets" have been written down to nothing. What you are about to witness is Giles injecting his own assets into SMA in order to build a new business-hence the appointment of a suitably lame (sorry tame) CEO with a dodgy CV. Certainly the future is likely to be rosy (for Giles & his little chums) but not for existing holders who can expect to be diluted to b**ge*y. SELL. PS Pearl is already jumping ship-hence the recent big sales.
Street has a fairly "thin" CV. His last business Eugen de Buren didn't last long. Another company is in liquidation. Not a great advertisement. The share price is being pumped in readiness for a placing to raise more cash. Expect the placing price to be no more than 0.3p. Further massive dilution is on the way. AVOID. P.S. This "shell" has been touted around the market for the last 12 months with no takers. The truth is that it's The Emperors Clothes. There's nothing in it but the only way to promote it is for the insiders to hold their noses and pretend that it's still a viable business. A further disgrace for the AIM market. Where are the regulators?
Silly old sausage. Ask your teacher to help with the spelling and syntax. You never address the fundamentals. Your only contribution is to reinforce your obsession with some obscure person called Barry-whoever that may be.
Is Giles still conducting his strategic review? Seems like a long time to review three fifths of FA. All we've seen since Giles and his crew hopped aboard is massive dilution and now we've got young Sparrow filling his boots with more worthless SMA paper. Vienna Sausage are you still expecting to see a strategic partnership? If so stop dreaming. The reality is that any RTO candidate will undertake due diligence and discover that this emperor is naked except for a few hundred thou. Giles was sold a pup by DP when he walked the plank. Don't expect to earn your retirement any time soon.