No. I think 100% share ownership means ownership of the company. Not actually necessary as 51% bought over time will sneak in a majority ownership. Cant see it acually happening though. Personally I like the Bod we have. Just don't like the current direction of travel and lack of information leading to a sliding SP and consequent difficulty of recovery.
This share holder thing: If I own 100% of the shares I own the company right? If I own 5% of the shares I own 5% of the company. I think the SP does matter. Currently £12 million or so will buy you the company. Any offers?
The SP continues to slide. It's now half the value it was just 3 months ago with just the main Cobre client being the issue. That makes the company worth half the value it was then. The $4 million owed has actually cost SML a further £12 million plus.
There was no appeal to the 2016 court decision. That decision was clearly wrong in law but stood and was not appealed.
As Brockster said people trapped here were trapped long ago. The January 2017 rise in the SP gave the strong impression the SP should have been higher still. It also gave the strong impression that even 1p was not a possibility. It's now 0.2p.
Not going to defend AST on here. Wrong board. But they have gas in the ground and wells in place. It's politics that's just the problem there. So I'll defend them a little.
Different here. Excellent projects and just a poor main client at Cobre that has owed money for over 3 months. That's all that's wrong here. Get that sorted and a good update on Leigh Creek and Redmoor and the SP here could easily more than double. However it has slid down below 1p and so has a long way to rise just to recover the losses in the last couple of months.
By the way I see just one weak sell this morning as the only trade. That's how excited investors are about SML currently. Those who don't care for any news from the BoD should be buying in if they have such confidence without news.
What's not to understand? Look at the SP now. Look at what it was up till July. We need an increase of 60%+ to get back there. To a point where we need to be before the expected rise to the, currently laughable, 5.5p.
If you understand AIM you will know such a drop since July will take a lot of recovering just back to where it was. No matter where your other investments may be this should not be at this level. The main Cobre client should be pulled up by the SML BoD by now to get the money they owe. We should be kept informed of that as we finance the company. Leigh Creek should be ramping up production right now from July to reach peak production early 2020. All of this should be informed to shareholders.
Some here may be happy to hear nothing. However you can not deny the effect thsi has had on the SP. The evidence is all too clear for all to see.
PMO have oil and are producing. The oil price benefits them. 88E have no oil and no oil production on any horizon apart from the possibility of Charlie 1 in February, 2020. And we've been there before, several times.