Member Info for stockdale

It has become clear, over the months and years of delay, that the Slovene government has prevented the issuing of permits by placing obstacles in the way. Every time an obstacle has been surmounted by AST another obstacle appears. As long as the government can ensure they are reasonable obstacles in law any court action by AST would be lost. The court's interpretation of the decision they made in 2016 was contrary to the law but they got away with it by the way they interpreted it.

Looking at the lack of progress since 2016 and the clear government attitude the only solution for me would be to get a compressor in as soon as possible, increase the well output as much as possible and move on to Croatia, using PG10 and PG11a output to provide a cash fund.

We now need Colin to come out and clearly state the way ahead as the SP is on the floor and going no where until the way forward is made clear.

With the amount of time now passed since the problem with the main client I think a 'couple of weeks' is too long. Normally JP is excellent at prompt communiction with shareholders. He's strangely quiet now. Today would be a good day John.

Let's hope the thread title lives up to his name ... err ... tomorrow.

Two points:

1. Is it the case that the permits were refused? Or is it that an Environmental Impact Assessment was now required before they would be considered? In contradiction to the previous assertion that it wouldn't be required? That would imply that the permits hadn't been refused but just that a further obstacle had been put in the way.

2. Is it the case that the compressor could be installed sooner? Or is it the case that the bespoke fitting of the compressor would take up to Q4 for it to be accessed, installed and running? Not sure there is actually a delay that is implied here. Just that it would take that amount of time.

It would be great but the market is thinking the issue with the main client could be considerable. We're in to the second month of payment delay now. The company needs to have a clear plan B for if they don't return. That would mean selling the main client's magnetite on to another client. Surely there's a clause in the contract that allows for this if the client hasn't come up with money owed by now? Or has SML got clear knowledge of the main client's ability to get funds to pay?

Some people just like to make a 'name' for themselves on a forum even if that name is entirely fictitious. :-)

Yes it was spurious. The market's not interested about a Director selling a few shares, if it's for a new kitchen. Directors sometimes sell shares. It happens all the time. The reason for it may be considered as spurious. If the company is not doing well and the market feels the selling is for another reason then the market will take notice.

Spurious connection. More like business improvements. Four locations, one currently providing income, but with an issue with the main client, another starting to provide income, another starting to provide in a few months and a fourth on the horizon. All looking good. The market needs educating.

And yet only a very mild response from the market?

The RNS was certainly not clear about timing and wouldn't be either:

· Farminee internal approvals complete, including Board sign-off
· Farm-out deal now subject to:
execution of closing documents
standard conditions precedent, mainly related to transfer of working interests
· Well planning and permitting required for 2020 drilling now ramping up
Additional details will be provided post signing.

Very succinct but no timing information.

There were accusations or admissions of possible insider trading. It was clear something had to give. The poster or LSE would not want that to be left on a forum.

Statistic theory requires accurate data. The more accurate the data the more accurate the results. The current data for SML is not accurate for predicting future movement. Main client payment of $4 million and confirmation the 50% purchase of Redmoor will change the data and therefore any statistical result. If and when it happens your data will be out of date. So using statistical theory to predict future SP movement is poor use of statistical theory.

From the RNS:

"... reached an in-principle agreement with New Age Exploration Limited ("NAE") on varying the terms of acquisition of its 50% holding in Cornwall Resources Limited ("CRL") and is in the process of finalising terms, which it expects to conclude shortly."

'Varying terms' and 'conclude shortly' indicates a change and short delay. Today may be optimistic.

We certainly need something seismic with AST.

Only one?
1. Croatian bids
2. Progress on compressor.
3. Progress on permits, if any.
4. Progress on seismic results.
And more on the financial side for well income and company expenditures.

Buy low sell high. Makes sense to buy now if you think the company will survive. Currently a rise of 0.1p only would be a substantial percentage increase. Do you feel lucky?

It looks like someone maybe manipulating the market. Buying in big lumps and then selling at a small profit when the SP jumps up. Reso maybe?

Main client at Cobre is not the only client there.

I say it as I see it. As it is now there's nothing to see.

Indeed nothing to see here. We need something positive to see here. Is Colin still in charge?