You asked the question and said “ Does anyone here run a large business?? I dont think there are many (if any) I can assure you its tough”. How do you know it’s tough ? Do you run a large business ?
The BOD has now had enough time (it has been more than 4 months) it’s overdue an explanation and action plan from the BOD on the US$4m for a start.
I never doubted the fundamentals in the long era,I used to think 2y+, the way it’s going, it will take 5.5 years to reach 5.5p. We used to see major fruition using binoculars, now we need a telescope.
I will invest again, but now now.
Re: surprised comments at 12:11 , I agree in part, however, without knowing details and guidance of the Strategic Review no serious investor will invest. It’ too high risk at the moment, buys are only taking place when a few million shares are sold (like today) SP drops to a level someone thinks it’s another good entry level, nay for then SP to drop back again. It’s a fallacy.
I have a massive apology to make to Propinquity on a post I written on the 10 July at 15:09 when I kept buying and buying SML from 1.80 downwards, I was blinded to the truth, I said to Propinquity: I thought you were a very astute, perceptive with great insight. It surprises me that you come up with a deplorable and laughable prediction. 1 P.
WELL prop you were right. I wish I exited much earlier than I did.
You now predicted 0.75 and I think you are right. I predicted 0.60 two days ago 13 Aug 15:55,
today gorducho predicted the bottom at same 0.60p.
Apologies to Prop.
With a subject title of smh (which I don’t understand) and your point which maybe addressed to me, let me answer: I have invested big money here over many years, always trusted SML and had faith in the BOD, however, it comes to a point where decisions, events and business circumstances occur which are under the control of the BOD, but NOT under my control.
The BOD has a responsibility to the investors. Yes I do think negatively now about what is happening and what will happen. The US$4m is a complete joke and I lost substantial amounts of money, probably, like many on this board which I regret for their sake.
I have promised not to say anymore until AFTER the review, so I just leave it here. I expect the review to be by mid Aug which in my books is tomorrow.
On your first paragraph, see my third paragraph - I explained.
Your second paragraph, I totally disagree. If they were to drop news that the US$4m was definitely not going to happen, you watch the SP go south instantly.
You say the worst case would be a placing, I agree, but you take a very light view on that, when I do not, because when a placing takes place, again the SP will go south.
How you can say, why you should be worried about, beats me, because if I had a substantial investment (as you probably have) given current situation - investment is at a High Risk.
Let’s discuss this AFTER the review. Enough has been said.
I can genuinely wish someone ATB because I don’t know if I am right or wrong. My positive view has changed dramatically since the SP dropped and dropped and dropped from 1.80.
IMV the US$4m was the key. When that did not materialise over time, I lost complete faith.
Atrocious can also mean Shocking and Dreadful, that is what I expect the strategic review to throw up. The RNS will likely produce more questions than answers. The US$4m might end up being US$2m if we lucky, maybe less overtime with drop payments which will be meaningless considering they are defaulting and forfeiting payments. Some have said we will never see it.
Litigation, serving them papers and taking them to court, will be catastrophic, yes SML is right and we most likely win the case, but it will be very costly, very lengthy process. Money will be needed, money we don’t have and if we had money we should invest it on our projects.
Money will have to be raised somehow.
SML will not wish to deliver a bad strategic review, but it depends how the market takes it.
They need to be up front with the market and give it straight. It’s a gamble both ways.
The US$4m was a game changer which easily put us back 2 years. I am very bitter about this, in case someone hasn’t noticed.
See you guys AFTER the review.
I wish you ATB buying at 1p.
The US$4m was what would propel SML into the 5.5 party. Money available for all 4 projects.
I compare the lack of US$4m to the Titanic. The strategic review will be atrocious and unspeakably distressing for holders. There would not be a strategic review if US$4m was paid timely as contracted. Something went frightfully wrong and continue to be blind” and oblivious, Hopefully, until the strategic review where probably there will be more questions than answers.
I will buy at 0.60
Many have sold large % of their holding. I know I have sold 100%. Had I not sold when I did, I would be under so much, it would now be a serious concern.
Free advice: We often say DYOR (Do your own research), but now it’s time to do it again, because the landscape has changed and is changing. Today it’s day 2 of two week leading to mid Aug for the review. If SP reaches less than 1p today, what it will be like at mid Aug ?
The “review” will most likely throw in the unexpected. The bid “D” for dilution frightened me.
Please be sure of your own position and what you can afford to loose.
Please don’t chase a share going on downward spiral.
You are picking my words and making your own interpretation. You need to read them in context. Yes that is what I said and I stand by it. I did say “if it dropped after the review (I have guessed correctly) I would buy more” that is what I said and today, I also said “In the long, long term when the SP comes up for air, the fundamentals are still there and I see a buying opportunity” so I am consistent in what I say, what I did NOT give is timescales.
If I got this completely wrong and the SP goes sky high after review (which I doubt) I would stay out of SML investing altogether. All in my view: The SP will go on a deep sea diving expedition, leading up to the review and several weeks afterwards, I could then have a buy opportunity at a massive discount ready for the 2++ years. IF SP rockets, I am wrong and I’ll leave SML, this BB altogether.
Now, let’s see how this develops and evolves. Let’s give it time.
I will say something else I have not said before. Because of SP achieving very low levels now and going lower, I potentially see Traders coming in by droves, (the “herd”), then as soon as SP makes 10%-20% they will sell it for a small profit, then the most dreaded cycle ensues and the SP will became stagnant. I am going silent now.
best wishes to ALL of you.
First, You don’t know me, so your claim that I could possibly be influenced by anyone, is preposterous.
Secondly, let me address your point (raised twice) which you so eagerly wish me to respond:
Based on data available, analysed and processed, each investor will sell, hold and buy for different reasons. No rocket science !
I have sold because I now believe SML short term does not look appealing to me, so SML is not where I want to put my money. I am all good with the BOD, however, the Major client changed ALL that. The ramifications leading up to the “review” due shortly and the “fall out” afterwards for sometime, will take the SP on a deep sea diving expedition. In the long, long term when the SP comes up for air, the fundamentals are still there and I see a buying opportunity.
Each investor to their own. Period.
It is very regretful and very insecure of some individuals here being so quick to call out “derampers” to the likes of djryan and Fira who have extensively contributed and have balanced views on this BB. Just because some posters are honest enough to give their opinion, don’t call them derampers ! If you don’t listen to people’s opinions contrary to your own and you always listen and thrive with people of your SAME opinion, you have your head buried in the sand and you never learn anything - you might even miss investment opportunities.
It’s VERY clear to me (and others) what SML’s short term is going to be in the next weeks or months.
If you continue buying or continue selling, it’s your prerogative, but don’t chastise individuals who don’t meet your approval. It’s called an opinion.
Yes it’s a complete U turn for me, but only short to mid term. I was extremely bullish the 4m would be paid in a reasonable time frame, now a have changed this view and the 4mil will be subject of litigation, time and costs - my position changed. I was overloaded here big time, but recently getting very uncomfortable with my position and have offloaded. I will sell some more, even at a small loss because I believe the market reaction to the planned strategic review is not going to be good.
If I am correct, I will buy again at even lower sp and keep for the longer term 2++ years, if I am wrong (which I doubt), then I made a loss and will likely stay out of SML investing altogether.
With the 4mil we would have 2 “strong horses” in the race + another 2 “excellent horses” in the making to be developed, instead, due to cash flow, e v e r y t h I n g s l o w s d o w n .
I don’t blame the BOD for this situation, but the accountability rests on the major secretive client which imv their business dealing are shocking, shameful and disgraceful. Apologies for the ranting but they have cost us our hard working cash. I am going to keep quite for a while now.
.......undeniably fascinating crunch time !!!!
I never thought we would be in this situation - having excellent “world class” projects and yet having to prioritise because of Mr Major Client lack of payment.
In the long term, SML is well positioned, but I believe this is time to take our positions, and mine is “alarm bells ringing”, too risky for me.
Have off loaded my interest here and continue to do so before the strategic review.
It’s ironic, on one hand we relish the thought that we now control our projects, but we are now considering third party involvement with all the implied ramifications. Prioritising (slowing down) projects due to cash flow (thanks to Major Client). I believe the sp will suffer another substantial decline at the strategic review announcement. May see you guys on the other side of the review !!!