The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I think folks just need to accept that investing in a microcap, single project company, in a jurisdiction like Sri Lanka, you have to be very comfortable with ambiguity and also very patient. The share price is reflective of the situation and you need to make peace with that for your own sanity. The reward being the potential to see multiples of your initial stake and even further out dividends. In terms of Jurisdiction slowness, did you see any of the links with the GSMB pictures in, the ones from a meeting, any meeting. Really look, how many folks had laptops ? Maybe three of 20. In the west same meeting and everyone who has a laptop is there with it. What does that say ? They are probably doing alot with paper, think letters and signatures, stamps. Permits, rely alot on face to face meetings to make decisions and secure alignment. It all adds to ineffectiveness of the process. I am sure this is their normal and the IML will come when their bureaucratic process completes.
Wasa, brutal, my platform is valuing at the suspension price of 8.1 which helps mentally.
Has seeing the stark possibility of losing it all on a microcap had any impact on your investing style or risk tolerance out of interest ? Cheers.
Agreed Gaz, I believe she will wait till operational update and maybe final results all in one hit. I did wonder if a closed period prior to announcing the results might apply and so why no further statements have been made ?
Final thought, why has the NOMAD decided to grow a pair now after the shinenigans end of last year ? I am convinced the company new of the poor recovery rates when it did the last placing, which would have been at odds with the preceding operations update where Emma stated agglomeration issues and recovery rate issues were resolved. So my buy in was higher than it needed to be but I decided not to take things further with the nomad as in the end I think this will be a successful company at much higher market cap than we are now.
Doesn't sound like the Company chose to suspend itself, rather the NOMAD stepped in, possibly due to AIM rule 10 or 11 which is regarding disclosure and sensitive information. If the NOMAD believed such information had made it to public domain they would be obliged to act but usually the company would respond with an RNS immediately to avoid suspension. As DJ suggested maybe a disagreement between the NOMAD and Emma. Emma thinks not material but NOMAD disagrees ? You would think operations update which is due would publish all price sensitive information all in one go and satisfy the nomad. Also If you trust Emma / the CEO who allegedly says is not material then downside risk seems low from here. Just some thoughts.
Don't see cash call leading to suspension, and the nomad did squat despite serious recovery issues end of last year, so logically doesn't make sense it's that either. Theft of equipment or gold during transport, maybe.
Accident, well they use cyanide, which could kill an operator if not used correctly. Maybe
Permitting or regulatory issue with AK?, Maybe.
A ton of other things it could be as well.
As others have said, it's not immediately affected our ability to operate Homase which is certainly a positive. Roll on Monday and hopefully a strong update from Emma.
We might see some good volume but if ACP is anything to go by it quickly slipped back without confirmation of offtakers and finance, leading me to believe in this market at least we need both in place before we see a sustainable rerate.