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They needed to get one on the board I think and the cash will give them options going forward. They’ve derisked one project and the HMS is going great guns. Given the low base from which we are starting this is a confidence boost and shows the directors are delivering. Also retained interested of 2.5% of future rant/lithium sales for no work or risk is good. Upwards and onwards.

No he wasn’t. Neil777 put me off buying DMTR shares and im glad he did.

I invested (LOL) in this company in the Summer and have since added to average down, average being 0.5p. Since I invested they’ve had at least 2 placing and both at significant discounts. I used to think contributors to this board were a bunch of moaner groaners who just couldn’t see the value, but as I have now experienced, I can see they were right and I’m wrong. I appreciate I’m not as underwater as some (still 60% down though) but it’s only going to get worse as the next placing will be at a significant discount. The directors seem to be hooked on placings like it’s corporate crack cocaine. While the next production update might be much better, costs will have significantly increased and by April when debt becomes due I can see this going pretty much like RMM (Rambler Metals & Mining). Someone please tell me why my doom and gloom is misguided and that for good reasons (please state them) I should keep the faith I once had.

Agree with you LordB, the Placing is now 425m shares at 1p rather than 364.5m stated in the first RNS this morning so even more dilution.

I doubt it, it baffles me why anyone would pay the current price when there is 90% dilution at 1p per new share. I had thought the II shareholders might offload (and they still might, but in a Co-ordinated way rather than a frenzy) but then they all might be in on it to get more shares, with the attractive price of 1p. Anyways I’m keeping an eye on this but will only buy if this goes down to 1p or under.

The Placing shares alone subscribed for at 1p each would represent around 90% of the total issued share capital so why would anyone buy for more than 1p given huge risk to the ongoing viability of the company’s business. I expect Octopus and others may bail and this has much further to fall. They should have sought other urgent funding solutions first rather than put forward this horrendous equity dilution of existing shareholders.

Absolutely, if SOS can achieve this in the current market when most other fashion retailers are on their a*se, imagine what it can do when the market recovers. Happy to add more and hold what I’ve got. SOS might be an attractive takeover target but quite frankly I’m not bothered about that as this is a great success story with the prospect of more to come. Excellent foresight in stock management, containing costs and quietly growing the business. There’s a lot for other businesses to learn from here.

Sham Please Neil’s replies to my postings last Friday. He’s hardly trying to lure me, his reply was balanced, fair and informative. On the MEAL chat site he went to lengths (with a lot of insults directed at him) to hold the rampers to account. I doubt many of us will still be holding DMTR shares by the 19th unless have decided to risk holding shares in a delisted company.

The sell off today seems overdone based on the RNS trading update and significantly undervalued as per IC article. Seems a great entry opportunity to me. IMO and DYOR

Thank you Neil777, useful insight but definitely not taken as advice. I dipped in and out of MEAL and made some good profit but as I didn’t hold at the end of any day I didn’t make as much as I could have done and missed some of the big increases - too cautious! As for Deep I’ll keep an eye on this but the spread is wide and unattractive at the moment, especially for a cautious one like me

Will they be able to delist though? I wonder if they have sufficient to get over the line on the required 75% or will they have to buy shares in the market to get there? Is this another MEAL scenario?

I think the prospect of the fine was already priced in before the 40% drop in the SP on Wednesday. Also, although PB is off until the end of January the business is so much more than one person leading it. The drop in the SP was ridiculously overdone

Let me be the hope coming from an ABDX Pandoras Box. Yes the results are rubbish and there is around 1 year max before the cash runs out unless new revenue streams are created and maintained. Sensibly the focus is on revenue generation and cost management (back to basics) and less on product development. Recently the directors bought shares in the market at around 7p (if I recall) and they have faith in the business going forward. They are not looking for a fundraise nor did they mention potential delisting. I think they’ve cleared the deck, but the Covid 19 experience behind them and are looking forward on a more sensible footing. This won’t be a quick fix but at least the RNS shows they recognise the dire position and are resolving to sorting it without tapping the shareholders for more money.

Agreed, wouldn’t be surprised if the shorts increased, keeping my powder dry until this settles

The wording in the RNS was interesting “it is the directors belief that …..” whereas a firmer way of putting it would be “the directors note that / the directors confirm that…” it does leave open a small window of doubt they way they’ve put it.

Yes, silly question on my part. Difficult to know what to do as we don’t really know where this is going. Pathetic that I asked that question really.

Does that mean we should all sell while we can?

There are some large sells at around 105p, you think they’d wait for the tender offer and get 115p. I’ll see who sells up and make a decision in the next 2 weeks or so.

It might not delist and at this low SP I doubt any of the major shareholders will walk away. Entering into a formal sales process might be an option as a bigger player might be prepared to buy. I don’t think a delisting is an inevitability and there is sufficient cash to allow the directors ample time to explore all options.

Yes, I should, yet I hesitate because although you and I consider the price to be cheap, a lending bank might not given most of the PCR testing revenues have dried up. Also, banks like shareholders to also have some skin in the game so I wonder if they’ll be an equity raise in conjunction with the financing. Need to not put this in the ISA either as unlisted companies are not ISA compliant.