Member Info for Tornadotony

Theo do you bother to read notes on the bottom of presentation slides? Besides, any presentation to a financier would have different stress tests related to commodity price revenues. Secondly you know what is happening to the entire financing sector at the moment as you can see the price with bank shares and the gold price. Some of us wonder if the orchard of money trees are about to expand significantly. It looks like a huge bailout of the financial sector is underway again.

The central banks off loaded Treasuries in 2020/21 to regional banks telling them interest rates might go up 1% and as they can't hold to maturity the central banks will have to take back all those Treasuries and a lot more. Of course central banks also say climate protection is not there problem as they regard spending on all the damage done by climate change as productive GDP. You can not make this stuff up and that is what I regard as stupidity.

Does anyone find it odd that over $300B was paid out to bail out banks last week who could not operate a hedging strategy and another $700B is likely to be given as bailouts in the coming weeks amounting to over $1 trillion. Yet a company asking for $550M to secure 5% of Western market needs for future climate protection and for defence is still awaiting a decent finance offer that they can repay with interest and still give a return to investors. The argument is not whether Pensana gets funded, it is the terms of funding offered that were not accepted.

The stupidity going on at present is unbelievable. Central banks with so much access to future information making amateur mistakes one after another. Only an elite few get to play a game where there is no moral investment hazard where practically all of us investors on LSE have to take risks. One rule for that ultra elite and another rule for everybody else and we have to pay for it as they keep profits with no losses. This is what we should all be complaining about. The next run on banks will be down to doing nothing for years on climate protection development.

All those with a mother on this day in UK should celebrate with them as the special one as those of us who do not have them any more wish we could.

Tony

HH
You may find in several scenarios Brian Tenner covered himself with some get out caveats using timescales as an example factor. When the Chairman and the Board weigh all of this up, a very substantial set of output targets that are achievable is put on the table which are reported on quarterly as progress up dates. Any bonus payment should be agreed to some additional targets being met that would have missed if the Samsung litigation continued. So if the company were able to earn say $3M in additional licence income a year, and that two new clients had signed up research work with Nanoco as business opportunities and 1 very good manufacturing contract using 25% of the capacity at Runcorn was all happening 31 March 2024then various individuals can say they delivered transformation. Those outputs would deliver around say $15M profit or £12.5M and give a 9PE Enterprise value of £112M at 34-35p a share. A year later that could grow further and deliver what many of you had hoped for. The alternative was all that time on Samsung litigation instead and not achieving any of the other targets.

If BT takes his bonus only on the kind of outputs I suggest above then let us see him do it. I would rather he did this instead of buying shares in the company. He can show he has integrity or he is someone who has nose in trough for himself only. He can reveal his character by his actions in the coming weeks.

Tony

The 6th January RNS has no mention of the Board or Chairman. It was written and authorised by the CEO and CFO only.

The Chairman will want a report on what is to be communicated on 28 March. If he is in any way unhappy about the conduct of the CEO and CFO he would request their resignations. I have seen this happen before when a lot of concern was raised by shareholders in other companies. Incidentally what they get as part of severance becomes negotiated so that may not get any additional payments if they wrongly advised and misinformed the Board and the Chairman.

If the Chairman is very happy in what they have done in the light of material we may know nothing about, we should in theory see why he and other Board members are content with both of them on 28 March.

the Chairman is the head of a board of directors and is in this position because they are elected by the shareholders. The over-arching responsibility of the Chairman is to protect shareholders’ interests and ensure the company is run profitably and in a stable fashion.

As well as stability and profitability the Chairman reviews the financial results and provides an assessment of the performance of high-level managers – including the CEO. Given this responsibility, the Chairman has the right to fire senior managers like the CEO should their performance be inadequate. Like a board’s non-executive directors, the Chairman does not get involved in the day to day running of the business but does hold the power to set the agenda of the board and influence the outcome of votes.

Not just that piece. Where it refers to the Board in the RNS, the responsibility of its conclusion rests with the Chairman. So he took the views of individual Board members and decided the outcome. There was not a democratic vote taken but someone leading the discussion and weighing up all the risks and that was in the record of the RNS. It could well be that nobody was in dissent with what the Chairman summarised.

Centamin now in third place on my portfolio. Shanta Gold is my number 1.

Not just the CEO, his boss the Chairman was all over the 9th January RNS like the measles. Look at what that guy said!

https://www.youtube.com/watch?v=nR0lOtdvqyg

Intrusive

I was responding Private Pete to whether or not the use of that word was illegal so I looked it up to see if there was a case of class action. For goodness sake. TT

Transformational as used by a company in connection with its business could be defined as;

1. The company has undertaken a merger or acquisition with another company entity.
and/or
2. The strategic operations of the company regarding commercialisation of its products has quite substantially changed.

The first is a straight forward to measure. The second could be significant licence income from patents (as one of its products) and that organic means to enhance outcome of its product development to commercialisation could be evidenced. A failure to do any would mean transformational was used in a misleading way. No evidence of failure is visible at this time.

Gold holding 1950.

I understand what your saying as they would have to sell gold.

Fair enough Steve happy to see gold get back past 1950 gold and I am 50% in on the maximum Centamin position. Rest held back if it is a false breakout on Gold.

Approaching a major breakout point at 1950 again.

If it breaks and holds for the close this weekend it confirms real problems in the financial system and what we are seeing in operation is another QE.

Added as well at 97.26. Up to 1/3 in play.

1.63 Canadian is 98.2p UK. Centamin is pricing in $1800 USA gold price at this level.

Steve, I have. However I suspect gold has put in a double top on the weekly chart and we have seen the peak. It has not broken through $1950 per ounce.

I was helping my wife wash her hair and it was 103p and when I got back it was coming back up to 97p. Just added another tranche into the ISA. This is what happens coming up to triple witching. I am not trading but stake building.

98.27 buy in ISA back up to 20% in.