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Ah ok ... what you are suggesting is the first thing I did after seeing the 616million buy being reported on Yahoo!finance and before I posted this thread and I was trying to ascertain whether LSE is wrong (as you point out it very often is) or whether Yahoo got this wrong (I tend towards Yahoo being the more accurate they are far from perfect also).
You don't know the answer to my question is the answer then.
Bob said - "Also new chap not likely to have taken role (I think) unless he had fully reviewed situation himself. Apart from anything else he would I assume have wanted to ensure the job had reasonable prospects." - this is absolutely the case imo. He is young enough to still have a lot of ambition and drive. As Bob says, why would he come aboard if this wasn't a genuinely viable and exciting prospect for him.
I agree with everyone that it would be very nice to see some positive updates but the last thing we need are some 'PR puff pieces' that would satisfy no one. As I mentioned before, I view the current silence to be exactly what I would expect with 'Jo' getting his feet under the table and talking to some serious prospective investors/purchasers (of some of the assets).
If we are still in the same boat at the end of the year then that would be disappointing but I think the BOD know that and will make some information available by then.
Confidentiality agreements / NDAs are absolutely the norm when serious negotiations are underway and especially if there are potential multiple interested parties. Nobody who is an interested party will be willing for a competitor / potential competitor to discover what you are prepared to put on the table hence the NDAs which will be strongly worded and backed by clauses specifically allowing for injunctive relief as well as the usual damages for breaches.
Infrastructure projects in developed economies worldwide are now a given - it's not just the UK we are talking about - but Governments can't just start spending they have to do their budgets and get their parliamentary approvals which will happen in the near future. The US government and Congress have already cleared well over $1trillion (and more to come) much of which will be for infrastructure and China is powering ahead with its developments (why ores are up so much).
On top of all that you have, again worldwide, the electrification of energy production and supply which alone will push up the demand for copper and steel and add to that the EV revolution (be it battery of hydrogen), the IoT and Robotics (the 4th industrial revolution when coupled to AI) and all of these things are going to need a lot of copper and steel across all the developed economies.
This will fly, (not the silly multiples that rampers in the past have touted but a very solid SP probably in the mid-teens and possibly even a little higher) and I believe there will be some very significant and exciting news in the coming months. It's a gift at the moment at this price - I did my topping up already and thinking of adding more.
I'm relatively new to SYME and haven't been following the 'chat' for more than a 6 weeks but the one thing that stands out is that Extrader (and some others) are professional 'mud slingers/doubt creators'.
It's not too difficult to figure out his M.O. - get a lot of detailed info (relevant and irrelevant and carefully selected), mix it with 'out of context' figures and data with a good pinch of manipulated figures and data close to the truth but often materially misrepresented, add some quasi plausible extrapolations (always towards the negative of course) and post.
Oldest trick in the book - claims not to be invested. Probably true at the moment because he sold on the last high of .00415 and now needs to see the share price down near .003 again to buy and he'll probably buy a huge amount if it gets back to there. If he does get to buy at a low price he becomes very quiet until the differential between the SP and the price he paid for his (large) holding is sufficient to turn a nice profit. When this guy buys in, he buys a lot (or he doing this as part of a group who buy a lot).
I know I'm not the only one by any means to call him out on this but to give him his due, he's well practiced at what he does which means that he's been doing this for years and is a pro. Lots taken in by him.
I'm amazed that people expect there to be a slew of RNSes and press releases and news (etc) in so short a time after the new man has joined. It was never going to be like that.
He has been bought onboard because serious discussions with 3rd parties are afoot. Is that not obvious? Varma is no fool and recruited due to the interest that is being shown in AYM - if it was not so there would have been no recruitment.
Negotiations concerning the kind of assets and potential actions that are now highly feasible (given the price of iron, copper, zinc etc) don't happen overnight. More pertinently, they don't happen in the public domain - it's not a soap opera (cue droll comments).
Does anyone recall my mentioning NDAs a short while ago? More of the same here is my guess as interested parties and AYM get down to the serious business of talking turkey about taking the mining potential forward (or possibly a sale of some of AYM assets - unlikely to be everything though imo). It is completely the norm that parties enter into NDAs when talks begin - this is so much the norm that I'm surprised that people expected a flood of communications to follow this appointment.
For me the lack of communications at this juncture (i.e. after the recruitment was announced) is a very good sign since it indicates that serious talks are now underway with 3rd parties. I would have been really concerned if suddenly we were getting a flurry of PR releases lacking in substance shortly after the new man started to get his feet under the table (and remember he's still doing this) since that would tell me that there was nothing of any substance actually going on and that Varma isn't the shrewd cookie I take him for.
The governments of the big economies are only now getting their proposed infrastructure budgets approved (not just the US doing this).
I expect that the next piece of news from AYM will be very juicy indeed and we could be seeing something in October though that would be fairly quick given my experience of negotiations between businesses. Even in the Tech World (which is the pond I more usually swim in) deals of any size and complexity take a quite bit of time to negotiate and in this case parties need to carry the bankers along (why the new man's background is so relevant) which adds to the mix.
If you haven't got a decent holding in AYM, now is the time to buy imo since once the good news (and there most surely will be good news in the not too distant future) starts to come out, this will rise to around 10p and even into the low teens quickly.
The take up of the service being/to be offered would have to go stratospheric very quickly for such a multiple to become even a remote possibility but from what I'm learning about SYME (I'm a relative newbie to this stock) it's not altogether beyond the bounds of possibility though an SP of somewhere between 4p - 6p in the next 6 months is much more likely imo (which would still be superb).
What is very obvious is that the SP will not be at this low level for much longer. I'm glad I came across this and to be able to buy in at a rock bottom SP.
No need to apologise Bob - apart for the comedy spelling :) - because what you say is essentially correct though it should be added that the parameters the algorithm uses can be 'tweaked' (all perfectly legal I'm 99.5% sure) thereby affecting the classification of a transaction as being either a 'buy' or a 'sell'.
I agree with those posters who find this annoying though and have had quite a few of my own 'buys' classed as 'sells'.
My own personal belief is that the company who AYM started using as their broker towards the end of last year (forget their name at the mo - but their associated company is (if memory serves) a spread betting outfit and this changed about a year ago when a broker arm was created and given a licence and they persuaded AYM to become a client which, I believe, is a huge factor in why the SP is not higher than it is.
"It'd be a notifiable disclosure of interest if any other board members were shareholders or directors of Juno Limited. Because it isn't noted in any of their statements, they aren't." - do you know how offshore vehicles work? There are a number of ways where this requirement can be circumvented without difficulty. I'm not saying that this is happening but it's not difficult and (in most cases) perfectly legal.
"Tommy; "Where do you get the interest rate of 10% on the £3.7m of loans to AYM? Genuine question. This seems ludicrously high given the low interest rates of the last decade++."" - I addressed this almost 2hrs ago. when I read p51 and note 18 of last September's Annual Report but until you mentioned it I had missed it. However, as I said to Bob, it's small beer if moves to production begin or a buyer appears.
If there are broadly drafted NDAs in place the BOD could be very hamstrung as to what they can discuss publicly. I see these all the time and still from time to time draft them myself though I usually get a junior to do it.
I do agree though that communication is not a strong point of this BOD and would love to see some news but you can't assume it's just dormancy.
Bob - I'd missed this but posted just a few minutes ago before your post that I'd now seen it on note 18 (page 51) of last Company Report.
Varma is shrewd but this is actually small beer if Parys gets bought or, better still, developed.
"and discussion with potential partners does not stop other development stage mining companies interacting with shareholders." - errm, no. That's a very naive view of the world. No development stage mining companies are going to broadcast an interest and see the SP rise. Just think about it.
"I don't think there is any evidence any other members of the Board are associated with Juno Limited, " - Have you paid for a search of Juno LTD (Bermuda) structure, board members and shareholders? If not how can you make this statement? It's complete speculation which is what you accuse me of and therefore kettle calling the pot black. On the other hand, if you have looked into the structure of Juno LTD (Bermuda), are you prepared to disclose who are the shareholders in said Juno LTD (Bermuda)?
Where do you get the interest rate of 10% on the £3.7m of loans to AYM? Genuine question. This seems ludicrously high given the low interest rates of the last decade++.
I completely agree with you re the underlying quality of the asset of Parys Mountain and have also 'reaccumulated' a decent amount of shares at these extremely low prices.
The BOD may be comatose (not really) but I doubt Varma is and the value of what is in the ground keeps going up and will keep going up for the reasons I have previously posted many many times.
That its "time will inevitably come" is what I've been saying for the last 15 months and it'll come in the next 4 - 5 months imo.
Look forward to your response.
To major on the wrong company name in the context of this thread is indeed to strain at a gnat. If you think you can hide your ignorance concerning what I said by deflecting then you are mistaken. Those who have any understanding of the relevant legal matters now know that Divermike isn't the knowledgeable person he tries to portray himself to be. I can address my simple error (unimportant in this context) by way of a simple amendment whereas your lack of knowledge would take years to address. Your infantile responses only demean you further.