Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
I think that's a little unfair manifesto .We all did due diligence on this investment aswell as Risk / Reward analysis and some of the finest minds on here and reddit were convinced this was as sound an investment as could possibly be . Conservative estimates of 80% ( given historical therapeutic P3 success rates, up to 95% ( Given all the additional evidence accumulated by other independent research laboratories)
What we didn't do is factor in incompetence and inexperience yet the signs were there with the Home trial debacle . Again the finest minds on here dismissed it as "Part of the learning curve" and "Lessons Learned"
No one could have factored in the fact that they didn't actually know what they were doing. After all,
the company wasn't being run by a group of 22 year old academic geeks . It had a CEO who had 13 years ( Turns out service not experience) in the role ,and a board that contained a CFO ,alongside Doctors and
a Professor who helped develop the drug . What was wrong with that ? Plenty it seems !
Looking back now, you could question why the company's two other founding members seemingly walked away from potential riches galore and why Polar reduced their holding on the cusp of greatness and when it was more profitable to scale back days earlier when the SP was higher . What really did spook them ?
I invested in Synairgen because Neil Woodford invested in Synairgen .He saw something great in the company and he is a fantastic stock picker despite his dubious activities as a fund manager.
I wonder what he makes of what has happened here and did he pull out his personal investment in the company if indeed he had one . He would know why Polygon are still in the game and I would value his opinion on Synairgens future above all others .I wouldn't give him a penny of my money though ( I was in 2 of his funds but luckily got out unscathed 3 months before it hit the fan) now but I would take his advise and opinion above all others with all matters Synairgen .Even if he said Marsden was doing a good job ? Erm !! Then yes although I don't think he would .
Thought his " No JV when we've done all the leg work " ranks along side Alec Guiness ( BOTRK)
" What have I done "
Doc , yes I am angry and bitter , I see Richard Marsden as a lucky ? Family ? Masonic? Individual who came to this company in 2003 and within 6 months was MD .Was that luck , buy in ,family or again Masonic ?.
Given what I observe now or more inportantly pre P3 read out he was under qualified as a GM yet in 2009 he made CEO and since then acquired all the other little titles he has given himself or been given by the gravy train engine stokers. The salary has been commensurate and share entitlement with the titles and not the task in hand. . He and the other 7 board members plus ( more inportantly ) the Synairgen research dept have managed to secure a revenue of £79 k per annum by way of a JV in 19 yesrs .who did the " Leg work " on that ?
Did Synairgen need the JV to get that over the line ?
"RM did his best " really ? Then that suggests he is not cut out for this line of work . He is the equivalent of Ole Gunnar Solskjaer in his field . Totally out of his depth but trying his best ..
Board members and management come and go in the evolution of good companies .The evolution of Synairgen has stalled to the distinct possibility of becoming extinct.. I am personally of the opinion the company needs to die off .As far as we know and what we are told ,there are no more irons in the fire for this company if SNG001 is taken away .
SSH will continue to earn a crust sitting on countless committees, The CFO will come out of this relatively unscathed after all , he made sure the cash flow operation was a success.The rest are CHAff and have probably done themselves irreversible career damage unless they can somehow spin the blame game and put it all on RM. It is ofcourse not all his fault but he is the conductor of a tone deaf orchestra .
£4/SHARE ( fully achievable before first dosing on P3) would see me offer an unreserved apology to Synaigen but that now is as likely as Will Smith hosting next years Oscars. Not impossible but highly unlikely .
I suspect he cleared his desk unofficially 6 weeks ago and until the new CEO can take up the reigns ,the "Dummy" still has a title and salary.
He is the very last person we need to investigate Deep Dive . Home trial was a disaster but he somehow managed to wing it and escape scrutiny .
The colossal embarrassment of P3 sealed his and the company's fate .
We only have a potential lifeline ( A2 P2) because Marsden and his merry band of F cukwitts had absolutely nothing to do with it save delivering the drug and devices to America .Well done to that department in the company ,you can leave with your heads held high .
The product deserves to live and prosper . The exploratory company that developed it needs to be euthanized to make way for a commercially savy and experienced enterprise ..
Holgate may still be the best " Front Man" to represent any new venture but purely on a performance based position. I could listen to Stephen all day long .Articulate. and precise in his interviews . Though would he accept the role of " Mascot / pseudo salesman ? Doubt it, so maybe he will need to say goodbye to his baby .
The Gravy train must be derailed , but the show must go on ...
Repackaged .
What did you really expect MC??
Thank you for your mail Mr costs but Richard cannot answer any questions, as for the last 6 weeks he's been up at Sunseekers in Poole trying to get himself out of the contract he signed for a new boat .
I think they've been sorted out Mr Costs and the upcoming May AGM will reveal all and we will see the back of them . I hope SSH can survive the cull but not if he's proven to be negligent and conducive to this monumental disaster.
I would really like to know why the the other 2 founding professors seemingly walked away from the Company , given SNGs potential even back then .
Prof , couldn't the company perform the deep dive autopsy ( because that what it is at this stage) on 622 of the patients leaving one individual's set of data to be correlated?.Then compile those results and then place deep dive on the back burner until A2P2 data comes along .If the P2 data is confirmed to be ready to send to Synairgen .The company can ask that it be sent on the Friday after hours ,giving them time over the weekend to process the last piece of sprinter data and then release both sets of data in the same RNS at 07.00 on the Monday . Is that possible within the rules of LSE .
Quick question . Can Synairgen release a RNS stating when a significant ,price sensitive RNS announcement will be made ? As we all now ,the company seems to conducts itself in an amateurish shambolic fashion . Last RNS being an update was released at 07.25 am . WHY not 07 .00 am ? or midday 12.00pm ?. Like " THAT RNS" from February, we waited and waited but why couldn't the company announce that results from the Company will be announced by RNS on ../../.... ? . Is that against the rules of the LSE even though you are not announcing anything other than a statement timeline.? OK, if you are given a definite date ,you could take up a position prior but you can do that anyway on expectant news .
Why do you say they if its only one person ?
I have to agree the CEO and board have been exposed as frauds . A reversal of fortunes will only be achievable under new directorship which I believe is being orchestrated as we speak . Marsdens position is untenable and I suspect he is on an irreversible sabbatical , and Deep dive is stalled until the new regime is in place .This may be just wishful thinking but would be a successful resolution if indeed there are crumbs of comfort to be found in Deep dive . Delaying completion of analysis will postpone any further damaging RNS that Marsden and Co could've unleashed on the shareholders. I doubt we will hear anything until the AGM around MAY where a new board and forward strategy will be revealed..I can live with that .
Lse shows 504k sold ,73k bought
Agree about the formulation but the company is another " Ratners" IMHO.
That RNS must have been checked ,double checked and checked again by the legal department . The comms team are obviously so inexperienced in writing pharma RNS , 's that they were not aware of the blatantly negative spin they were formating .Then Marsden will have signed it off ..
A conspiracy theorist would argue that Marsden has been offered a position by a new company who intend to buy the company and strip their only viable asset and leave Synairgen for dead.
That would go someway to explain Marsdens behavior post P3.
I lean towards the theory that he is so out of his depth at CEO level that he's having an Alec Guinness / Bridge over the river kwai moment.
" What have I done ,"
Answer being ,"Destroyed Synairgen"
Don't intend any rudeness towards you Tommy.
You are superb in your analysis.
I truly believe that Marsden wouldn't have a clue as to what you put on here..
If only Richard Marsden and the board of Synairgen ( including SSH ) had any clue as to what you are saying Tommy then all would be well.
We all know Tommy thats obviously not the case
FtC, does that also include off market trading? Certainly hope so .
So Pharma do not involve themselves in shady practises Tommy ? Interesting !
A little bit naive me thinks or desperately worried it could just happen .
Pharma would argue its fair value given the company needs a fund raise and can't seem to sanction one .
Ofcourse it wouldn't be .
Is it possible that a company ,say AZ ,contact Polygon and offer £1.70 / share privately and if Poly accepted this, AZ say this deal is provisional on it remaining stum. Once the deal is agreed but no money has been exchanged ,AZ start the process of acquiring 30% , ( knowing they have already acquired Polys shares)by buying up shares over the next 12 months at 25p. After a year they complete the take over with their highest share purchase being 50p ( final take over offer).In the meantime Poly use their influence to vote down any new trial fund raise knowing their £1.70 /share is guaranteed and they've more than recovered their investment .
Please be free to ridicule this suggestion as it would ******* destroy me knowing that Marsden and the board had another 12 month salary guaranteed although Az could ask Poly to facilitate with installing a new board under AZs instruction.
If this is it at all possible then I'm shafted .
If Marsden and synairgen still running things then 50p is a let off so yes .If as I believe will happen and RM and the board disappear then No ,I will stick it out .
No wigster, leave the comma out .The sentence looks fine as it is .