Member Info for troutisout

Not sure who is being delusional, me or the people that hatched a plan to buy a drone company for £1.3m, they do say greed makes you delusional.......

Well currently it has brought a 50% reduction in the share price, a long list of complaints to the FCA, AIM regulation, NOMAD and HMRC.
So if you are Hogan, Grove or Talbott, I think you are in for a little neck pain, as you are continually going to have to look back to try and cover your tracks.....

The 3 x 1m sell trades were actually 1 trade (with one being the deletion of another), this shows on LSE with a - in front of one of the trades to mark the cancellation of the previous trade, but on other sites it will still show in the trades volume as 3 x 1m sell trades, so the buys over sells are far higher than showing on those sites...

Firstly the unrestricted cash figure will have reduced over that time, work at LCCM has accelerated and this will have cost.
Second, even that amount was not enough to pay the first instalment to NAE, so there was always a shortfall (need for extra cash).
Third, the $4m must have been expected as they held on for it right until the end.
Fourth, The placing discount will not have been decided by the BoD, a placing price gets decided by the largest placees and will be at the highest price they feel is acceptable for them to invest (if others were offering more they would go with them).
Last if the Directors didn't invest in the placing, some would be calling them out for not doing so and that they didn't have any confidence in the Company (Remember also the cornerstone investor, asked for the make of placees to be the largest shareholders and SML staff/Directors.

Thought that myself, but too good a price for a sell, especially as the MMs were selling at 1.6p for so long....My thoughts are a transfer of some sort by JP.

I reckon that late trade was something to do with JP and a transfer, await an RNS if I am right.

Fira,
You had your chance to buy them at 1.5p at the opening, however you know there is no way of allowing PIs into the raise without huge costs and delay and in that time the SP gets trashed. You could have also bought far lower from a year ago up to earlier this year.
As for Leigh Creek being fully funded, you know that Leigh Creek is moving ahead well and ramping up, I am not going to complain if they need funds to accelerate that process. If they get the monies in form the Cobre client then they will have plenty to move all projects forward. This is a minnow company moving forward on two great projects and at one point they will have to farm in partners to fund this, the plan is to get it as far as possible on their own steam so that at the farm in time the project is as valuable as possible .

Please note "so the SP should remain strong", that is only if all those 'lths' stop selling shares.

Don't understand the logic from some, as to allow all shareholders to buy at 1.4p an Open offer would have been needed which would have cost the majority of the money raised today to action. That isn't a good use of funds.
If the price fell to 1.4p then shareholders could have bought in the market at that price, the fact that some were lucky enough to get 1.5p is good for them, for everyone else it is surely better the SP remains strong and higher up. Without the churn from the usual raises, pre and post raise.

"would have liked lths to have had the opportunity to buy at 1.4p!" They did didn't they? Unfortunately there are a lot of people who claim they are longterm but who will trade the share (references to core holdings, etc).
It's quite plain the LTHs that put the money up didn't want others involved that would sell straight away into a rising price. I am happy with that! The shares don't hit the market and so the SP should remain strong, the dilution was small compared with the uplift from owning 100% of Redmoor.

He was Brenton's previous boss at Every Day Mining Services Ltd, not mentioned in the RNS....As they conveniently only go back 5 years..... But mentions Strathlyn Investments and as below,

Strathlyn investments
Board of Directors
Robert Maxwell Hackett
(Former Non-Executive Chairman, Acting Chief Executive Officer & MD at Every Day Mine Services Ltd.)

That mentions Every Day Mine Services Ltd, and these are the board members for that Company,

Directors & Executives (current)
NAMETITLEDATE OF APPT
Robert HackettChairman, Managing Director04/07/2011
Andrew DrakeCEO19/03/2012
Paul BrentonCFO11/08/2010
Robert HughesExecutive Director19/03/2012
Thomas HendersonDirector23/09/2009

I topped up today, which buy was yours Robbie?

That was a sell, could sell at over mid price all morning...

Don't agree with the US buying argument, most of the trading is us, small PIs. US investors would not be investing in SML, far too difficult to do and with the amount of US companies they can invest in, I think most wouldn't have even heard of AIM let alone little old SML.

The $4m is key and I can understand people wanting to wait until it arrives before investing, others have taken a position before that, but at the moment the Jury is out.

David,
Did you approach MRS for any comment interview?

Remember also that if the Main Client hasn't taken the magnetite within 12 months of the pre-payment they forfeit the $375k payment. That is early July for the first pre-payment.

Dv, with some of the postings here today the sellers were being positively encouraged....

petwilkinson,
The Takeover Panel have been given lots of details and information and are conducting an investigation in a concert party situation. It is clear the rules state that if an entity amass shares over 30% with the intention of taking control of voting in the Company they have to make an offer for the shares of the whole company at the highest price paid by them in the last 12 months.
That currently stands at 6.5p from the placing last year, which incidentally was meant to go to employees and contractors and yet Hogan got 3m shares. The recent Alerion deal is clearly a way for the concert party to get more shares to exert pressure and get the special resolution to disapply re-emption rights. This in turn would allow them to issue more shares to themselves to gain more control. That failed and so we had the recent EGM, the 'concert party' had to go to the market to buy shares to get their vote through again showing a commitment to gaining control of voting rights of the Company. The Takeover Panel do have the power to force them to make an offer for the remaining shares in the Company, or alternatively the concert paty have to reduce their voting shares to under 30%. This isn't going away................

"gentlemen" you are having a laugh!!!

Have you ever tried selling a house when the buyer is in a chain?

The client is waiting on funds from a third party and then wants to pay us some of those funds......

Don't think they will be running away......Much as some would like to see that.....

For a lot of us, having no public company experience is a bonus, judging by the standard of those at MRS that do.