Member Info for triumph1

Why would it have been 20% discount to the retail offering? Retail offering was miniscule in comparison. it wouldnt have moved the dial. If it was such a sucess, why wasnt the retail offering expanded and CLN funding reduced?

I agree to a point blubay re funding and it can be difficult, but lets be honest. If you are giving 50% discounts to IIs regarding a company that has made a decent discovery and a huge retail buzz like this one did, it wont be difficult to get them to throw money at you. Its a guaranteed profit!

Some of the discounts she has been giving them are criminal. Look at the days trading after these massinve discount placings were announced. The SP went nowhere near the placing price. A telltale sign that the discounts were far too great. She was a very very poor negotiator.

Its hard to get the full picture, sure. But on the surface and from our perspective, utterly dreadful.

It is a very nasty, brutal method of financing.

The shares got converted at 0.5007p. to sell at 0.68p means that they were forward sold at least 3 weeks before the conversion notice. Very nasty, underhand obfuscating tactics. A near 40% profit for the IIs! very nice when they can get away with it with impunity.

Why the trades were printed with such a delay is very suspect given the timing of the conversion notice only yesterday.

But this sort of thing happen with these wild west funding agreements all the time. Not two cacks is given about PIs who are in fact funding these II profits. To rub further salt in the wound, the retail offer issued shares at 0.54p, near 10% above the IIs first conversion.

They are moving to production, but like always the shareholders pay dearly. And this type of death spiral funding is utterly brutal. I remember darwin and YMCA back in the day, some others may here too. Soon as you see an RNS with the words Darwin or YMCA and CLNs, you know to exit stage left pronto before your shirt evaporates off your back.

Being objective, there may not be a lot of options on the cards with regards to funding. However i am utterly convinced that lorna in earlier non CLN fundraises could have got a significantly better deal for the shareholders. The discount to SP on some placings have been nothing short of daylight robbery given the volume and retail interest in this stock. The IIs have trousered millions of excess profits from this. Was this really her only options, or is she just a terrible negotiator, and the IIs convinced her she had no other choice?

Same cycle on all explorers.

1) Companiy starts rubbish with hit or miss exploration targets. Worth punt money on the off chance there might be something.

2) Company hits a big target, very good assets and positive prelims. Shareprice explodes upwards. this is the time to get out and sell.

3) Here comes the funding death spiral. Discovery needs substantial funding to get online. Lorna has done a hideous job of getting a good deal for shareholders, allowing IIs massive discounts off, trousering huge profits.

4) SP sinks to around where the SP began in step 1, usually lower. if step 3 goes well (Very rarely does), you may have a producer, allbeit at the expense of the shareholder who held through the painful stage 3 process of neverending dilution. If not, wind up, find new asset and begin the boom bust cycle again. All fundraising cash is lost. 88e a prime example of the masters of this.

This is how explorers work. Thats the game. Stocks like this are to be traded.

Sorry ASI, but you have zero fiscal sense and lack even the basic tenets of what debt is and means and when it can and should be used mathematically to your advantage.

And lets not get into pedantics regarding whether mainstream lenders will lend 5.5x. If your credit score is okay, have the salary and no deliquencies, they will lend. Simples.

If you didnt do debt whilst the interest rates were practically zero for over a decade, what does that make you? In the words of trump: NOT A SMART GUY. Shall we do some maths?

If i have a 500k mortgage at 4% (Cheapest debt you will ever get), what happens to that debt if inflation is at 4% pa? In real terms, the loan is interest free for that year! The debt has effectively been reduced by 4%. Inflation is a debtors friend! but a cash hoarders foe!

Now if i have £500k in cash, i can stick that into a c 5% (they exist, in fact chase offer a 4.75% easy access) 12 months fixed interest rate account. With inflation at 4%, in real terms i have netted 1%.

Which deal is better ASI? lending the 500k or keeping the 500k in cash in a savings account? I thought you said you were good at maths! Taking any other action would be detremental to you financially.

Capital is king. I'll let you into a little secret with regards to how the big boys play. A vast majority of £5m+ properties would be purchased through specialist lenders who will offer an interest only mortgage (or very close to) on the entire balance. These loans are extremely competitive and interest rates were rock bottom as base rates were low due to the low risk of HNWI's and high quality of collaterol. They used to be as low as 1%.

You could effectively live in a £5m mansion for c. £3,750pm! And keep the £5m capital to invest as i am quite confident i can earn a bigger return than 1% on my capital. Not sure what rates for such mortgages look like now (maybe c. 4%) , but many HNWIs will still do this. Nobody uses cash to buy luxury property. Why? Because its stupid. Secondly they probably dont have the cash, and have assets instead! And those assets will earn more than the interest you pay on a mortgage.

You sound like some fuddy duddy who is stuck in the 1950s. Let me guess...you still have a bank book. Food stamps?

Interest drag? What does that even mean? Again, your world is topsy turvy and your understanding is zero. Mortgage debt devalues over time due to inflation! See above calculation above!

"Debt doesn’t build wealth — it erodes it. Everything I own is debt-free, and every penny I hold works for me, not against me. No repayments, no interest drag, no inflation-linked erosion. That’s the difference between leverage and liquidity. " - So hopefully now, once again, you can see what a silly, illogical, non sensical thought jizz this was. You are not helping yourself with your responses this evening.

boy oh boy have you lived your life wrong ASI! Money is Debt!

Very stupid, comment ASI and really showing your lack of knowledge. Most of those 120 mortgage providers are specialist lenders so are completely irrelevant!!! I thought i wouldnt have to state the obvious, but when i said "most lenders", what i meant is mainstream lenders, i.e. the big 6 where 72% of UK mortgages are underwritten. The specialist lenders are for HNWI's, interest only's, or those who dont earn 120k through conventional means, i.e. PAYE and receive ad hoc irregular income, thus in a higher risk category.

So out of the 6 MAIN lenders, how many will offer 5.5x or more on a 120k salary? I was wrong before because i said most of them. In fact, the answer is ALL OF THEM! Why? Because they have to to remain competitive to maintain market share. This is what banks do ASI.

But yeah, go ahead ASI and use a specialist provider who will give you only 4.5x loan and a higher interest rate when you can get 5.5x with a lower interest rate with a mainstream provider lol. We can all clearly see you have never had a mortgage before. But yeah, lets all believe you stumped up the cash to buy your multiple properties lol. What are you trying to prove here? The only thing you are proving is how clueless you are.

Lets think before we type ASI. You are making yourself out to look sillier than your alter ego STP.

Just lack in thought ASI. Who said taverham even required a mortgage? It may have been pure equity, may have been a downsize.

And not even good at maths. With a £120k salary, most lenders will lend you 5.5x, which is £660k on that salary. That means taverhams needs £965k of equity for the purchase min.

Has the STP alter ego powered down now? This ASI character is just as stupid. How about the massive bill for migrants, the massive welfare bill?

Obviously you wont like the idea of your UC being cut. But answer me one thing:

Why is it greed if you want to keep your own hard earned money, but not greed when you want to take someone else's hard earned money?

I'll try my best to contain my envy for you STP. If only UKs Labour allowed me the ambition to live in such grandeur. If i dare to think as big as you, they'll tax me to death.

Well you know what the say. If i cant beat you, i'll join you. Off to the dole offices for me to collect my UC. First stop, argos for a tent. Tell me where you pitch up in spain.

Sure it does for imbeciles like you STP, a jumped up hypoctitical keyboard warrior who jumps at the next passing bandwagon with clearly no hopes or aspirations of home ownership. If we were in 1933 germany, you would be a member of Sturm Abeilung, chanting heil hitler and ridiculing jews. You propably still reside in your nans basement collecting your giro at the doll office. I'm almost jealous of you actually, you are getting a better deal than the rest of us!

This is a wealth tax in all but name, yet again targeting the middle classes for working hard. The UK is no place for those with ambition. I'm all for reforming stamp duty, but taxing those who have worked hard to get on the property market in london over the last 5 years, already forking out tens of thousands in stamp duty, this must be utterly gut wrenching!

Fortunately, this idiocy will never see the light of day as they wont be in power for a second term, and farage will actually push through SAVINGS as opposed to what they can take. All this government talk about is take take take. Is nothing safe or sacred to this government? Im half expecting MI5 agents storming properties worth over £500k and looting as a next proposal.

Nope Trojan. Not sure where this 220bn figure is from. some way off there.

https://www.ifw-kiel.de/topics/war-against-ukraine/ukraine-support-tracker/

This website is by far the most accurate in who gave/donated what. Note how support ramped up when trump was elected! Now you tell me europe weren't dragging their feet and letting the US do the heavy lifting at the beginning! They had the cash all along, but lacked a backbone in unleashing their full might in the first few months of the war.

Good! So we are in agreement. You are in full support of israels actions agains palestine by investing in israeli means to continue the war. In full support of lloyds increasing their fossil fuel investments by $178m in 2023 and continue to do so, despite explicitly stating no more fossil fuel investments in Jan 2022, and in full support of a well known russian sympathiser. These are undeniable FACTS backed by your actions STP.

So why are you trolling those you agree with STP haha. Bet you are in canary wharf daily protesting outside the international against migrants.

Good for you STP!

Hehe anything else to say STP? Stop being so cliché in getting frustrated by your own logic fallacies with unspecified waffle which i think was some sort of attempt to personally insult me? So predictably...moronic.

i.e. Shall we try to stay on point? Explain to us all why you hold bank shares given your very vocal opinins on israel? Why do you support corbyn even though he has very well known russian sympathies?

Every response you give that does not address these points directly makes you an embarrassment to your own causes/beliefs. Unless they are not really your beliefs, and that you are just another caught out virtue signaller with no real belief in what you say, wearing that very thin veil of "social conscience" you think you possess with saying what you think or perceive is the socially acceptable thing to say at a particular point in time, but without the backup of doing the right actions to support what you say.

Its okay to say this STP. You are not alone!

So, just to clarify STP, you have no response at all for the level of incoherence between your words and your actions? So you are just a very confused hypocrite then.

ASI, Weakness didn’t cause this war — appeasement did??? What on earth does that mean? Appeasement is weakness! What did the EU do when russia invaded crimea? Jack squat! So by your very admission, weakness caused the war! You also sound very confused....not related to STP by any chance are you?

Facts on the ground....hahahaha i am the one ignoring them? We must be living on different planets. Im living in the one where russia occupy c.20% of ukraine territory, and there is not a darn thing anyone can, will or has done about it!

Jokes....we all know you are STP in AI clothing hahaha. Your responses are inconsistent, jumbled up AI churned word salads.

The EU are standing up to defend ukraine? Where? To what? They are doing nothing but prolonging this war! The land is lost. Thats called realism! The EU chose to do nothing when it mattered! Never gave Ukraine the real means to repel russia when they could! Weakness is what got us in this mess. Now we reap what we sow. The weakness of the EU and USA under biden is entirely to blame. Its a shame that EU didnt remember the lesson of WW2, and where weakeness gets you! The only thing to do now is to fortify the land that remains. And the so called "coalition of the willing" wont even do that without lord trumps approval and backing. What a joke.

The coalition of the willing? Ha, dont make me laugh. Willing to do what exactly? Talk russia into submission? Have more boy scout orientation meetings? Oh my, Ursula von der Leyen was on the podium!! Watch your back putin, they have a podium. A podium!!! Run, run as fast as you can. Not surprised this was the brainchild of that jellyfish of a man starmer who wobbles and u-turns more than a drunk.

Lay it on thick to trump? The EU? Starmer? They are all terrified of headmaster trump haha. STP, your delusional rambings get more delusional by the day. Maybe you should go to the Ukraine front and throw corbyn at them.

Then again, your buddy corbyn is no stranger to russia, once telling ukraine to "get out of russia", appearing on russian state tv, actively demanding the EU to stop sending ukraine weapons. Putin would love a corbyn government. Once again you have shown yourself to be a very confused individual.

you Invest in bank stocks despite them undeniably investing in the israeli war machine you are so opposed to. You support corbyn even though he is a bigger russian sympathiser than trump, and wants the EU to withdraw support entirely! Do you have the "do as i say, not what i do" syndrome, very prevalent in the woke classes, or just another silly bandwagon jumping, virtue singaller who is too dim to critically think? Then again, actions speak louder than words, right? Because your actions certainly support israel and putin.

Any comments on your outright dumb Hypocrisies?

Sold out at 13.04p a few days back. Not going to squander the opportunity of profit here after a near 100% rise from the bottom.

The plan looks good in principle, but lets face it, when has SOLG ever actually delivered on their words without years of delays? And thats to get a single report out. Yes, things have changed since then, but the wounds of old have not yet healed here. SOLG have always been able to talk the talk (we had a phase where they couldnt even do that), but never walk the walk.

Until we actually see some tangible progress that is on time regarding this roadmap that SOLG took 10 years to come up with, i think the rise from 6p has just about exhausted itself. Now everyone wants to see this plan put into action. Only then can SOLG continue to march on upwards.

Potential, yes. But extremely cautious optimism from me! Every schedule/timeline SOLG come out with is digested with a huge dose of salt.

Now will this sickly dog finally be put down? Game over sanderson!

A break above 260p would be nice. But all eyes are on interest rates as far as this is concerned.

Markets didnt like the split interest rate decision, and going to a second round of votes. GBP spiked in the moments after, usually indicating markets were expecting a more overweight argument towards cutting rates. Now markets pricing in a lower probablitity of cutting at pace due to inflation creeping up.

Most instant savers will be sub 4% now, so as the risk free vs risk on gap widens, people are going to be chasing returns and jumping into stable high yielders like this which should recalibrate the yield.

Interesting to note ftse 100 average is c.4%. Simones has certainly steadied the ship here, and improvements are being made. Things are in place to see this jump to 300p+, but need to see inflation under control in order for the markets to then begin increasing bets for faster rate cuts.

Thus far, we have a homlessness minister sacked for causing homlesness, and the anti-corrupt minister sacked for being corrupt. And another one left for pleading guilty to fruad.

Yup, great bunch this labour lot is haha. They are giving the tories a good run for their money in terms of scandal and sleaze.

Any comments STP or any one of your multiple alter egos here on your beloved labour masters, the so called homelesness minister kicking out tenants to increase rents? You cant make up the poor optics of that one haha. Just as filthy and sleazy as the tories in their final days! So they actually were champagne socialists, or worse...capitalists after all? Who would have thought?

Yet you scorn farage for a relatively minor breach of conduct that is more than likely a simple oversight that not even the left wing media has picked up on much because it is a zero story.

Haha objective much?