Member Info for troutisout

rh172,

Just gone back and looked at RNS and they do state there was a cash consideration to acquire the shed, but below that they state a new finance had been raised to cover the facility acquisition,

"The Facility was purchased for $3.0m which was satisfied in cash on completion. The Facility was previously rented by MRS Services Group from the Administrators of TMD Investments Pty Ltd. The facility, while currently operational, requires further works to maximise its full potential. The estimated cost for the future works is approximately $2.0m. New finance has been arranged to cover both The Facility acquisition and future works."

rh172,

They bought the shed with a loan, not sure why you thought they paid cash?
From last Final Results,

"4. Property Finance - $3.0m facility, amortising at approx. $100k per month; and
5. Property Construction Finance - $2.0m facility, not drawn at 30 June 2018, this loan will be used to complete the facility during FY19."

For historical like for like I am looking at the debt they had at June 2018 against the current reported debt for December 2018. The construction debt was going to be used this year and hadn't been drawn at the last finals, they have drawn down $1.45m from that facility in H1 and reduced debt by $600k, so without that draw down the debt situation would be approx $2m better than at last results.
This is carrying on at a rate of over $400k per month as they paydown the various loans.

So debt has reduced $600k in the first half and this against the new loan of $1,450k which is being used for the construction works at the shed. So in effect historical like for like debt has reduced $2m in H1.

All looks good with the restructuring news due by the end of March....

The spread reported on LSE is delayed by 15 minutes, when you posted it was showing a spread from well before the opening, so some of the MMs hadn't put their quotes in.
The spread opened at 1.7p -1.75p and has since ticked u to 1.7p -1.8p....

I think the repeated posts about the reasons that investors aren't piling into SML are pretty self fulfilling, I am not sure I have ever seen holders find so many reasons why others aren't investing, the truth is we could always find something to worry about.
People will invest when they do, at the moment the market has seen a huge amount of people taking their chips off the table, for many months now the money has been coming out of the market and waiting to see what happens with Brexit, US - China trade, European slowdown, Chinese slowdown, etc.
When it is ready to come back into the market then stocks like SML should do well. I am not sure it is down to the any worries about the future progress of SML it is a far wider thing at the moment.

It seems that some people just read the buy and sell columns and believe that is what each trade is. There were plenty of buys wrapped up as sells today and 2 of the 3 1m trades were buys, but there was also a set of 333k, 333k and 334k buys the first in the sell column.
I actually think the MMs haven't got that much stock, they took quite a bit a few days back but other net buy days have eaten into that, more buys today than sells.

Some seem to be being overly sensitive to the games.....

Were the first two trades sells??? With the mark up from the opening they look like they could be buys.

I think this is a massively undervalued share but it will take time for people to see that and believe it, in the meantime just keep adding when I can......

"As I've said before I can't find a single example of where these people have been involved in a good solid stable business"

and yet you invested in three of their businesses????

I tend to agree with Ian B here and think MRS could well be that good solid stable business.....

No you are correct.....Was AUS$45k, now at AUS$28k with exchange rate under £20k

Unfortunately we got the shares at 4.5c and they are now trading at 2.8c, so got to go a way yet to get to what we got them for.....

Got it now, shouldn't have gone back to the last annual report, it was in exchange for the Gold tenements at Care. Do you think SML sold the first half held in escrow until Dec 2018? If so 500k eft, if not then 1m shares at an issue price of AUS$ 0.045

Cornishknocker,
Can you elaborate who owns stock in Great Southern Minerals?

I have never resorted to bad language or abuse, yet you banned me three times, as for the thread I set up I cannot stop them posting and if the owners of the BB don't want to then so be it. You do realise some of those avatars are posters from your thread....

You were scared of contrary opinions and couldn't allow them airspace, but in a way it helped me as the suspicions about the Company's progress were only reinforced by the posters on your thread. Anyone who has been around for a few years has seen this before and the big pump and dump was brilliant. I hope you made enough on it as well, after all your hard work for the gang....

Still Waiting, you know it is true, especially in the older days, you would ban anyone that didn't have the same positive point of view as the gang. Stopping all contra-arguments and any reasoned debate, so ending up with a BB full of yes men that all believe the Emperor has new clothes. Only problem is that others spot this and therefore avoid like the plague, censorship never works, you should have had the *******s to allow both sides to post and the belief in your investment case to counter.....

sweepie, amazingly quick wasn't he, someone posted about the 8p placing rumour at 12.40pm and within 7 minutes Johnma the multimillionaire had telephoned our Chairman and got him to confirm that there wouldn't be a placing and then posted it on the BB.

Two things,
It doesn't quite ring true and Johnma then starts the same thing saying that he heard a rumour of a placing at another company the original poster owns shares in. I just don't see the CV and the actual poster are the same John Mahtani.
Secondly he wasn't told about any of the placings they did last year so why would they tell him now?

Then you haven't been on here for that long or have a poor memory.

No I don't hold at the moment, sold the last of my holding beginning of December. I had held and built a big holding over the previous 2 years. My Wife, for her sins, still holds some, so I suppose I still have a vested interest here.

Bullish posters tend to post on still waiting's thread elsewhere, as he moderates any negative posts and bans people that ask any questions.....You can't have people post on a thread that allows for reasonable debate from both sides.

So interested to hear from you what exactly they have going for them? Only when you look at facts and not conjecture the story is still embryonic....

Is he drunk, stupid or dangerous????

Or all three????

I think it looks that way, but it could be that was the limit at the time? However lots of trades but very little volume and the SP has been knocked back, gives buyers a chance at a lower figure, however MMs won't have lots of stock from the last sells, 330k since 8.20am.....Wouldn't take long to hoover them up

I try reading but you don't make any sense........

Only you describe it as below and I just said if you had said MRS for the month of January (from the 1st January) it would have shown a 27% increase. Holders here enjoyed that increase and some others bought more in that time.

"Master RSI31 Jan '19 - 16:42 - 731 of 731
0 0 0
Final -Best performing shares ( UPS ) during January"