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This has been a turd for a while but 5% drop today seems a bit much surely?

People started panic selling their trading pots the second they could get 13p for them.

"I tried to educate people on the asset value and said it was mostly worthless but constantly got slandered."

Why would people take any notice of what you say? Back when I first invested here in April 2021 you were ramping the crap out of this stock and talking of £3 share prices over the next year or two. You couldn't have gotten this any further wrong.

The lesson learned here is to not believe a word anyone says on a BB. So many ramps, charts and other comments from influential people and yet this turned out to be a turd.

That said, I blame the BOD 100%. They misled all of us and even the ramps were based on misleading information so I can't blame them. I probably even ramped it myself back then. We were all screwed over by the BOD, and the blame is firmly on them.

But please don't come here saying "I told you so" because you were spoonfed lies just like the rest of us.

The only thing I care about now is that the BOD face justice for misleading investors. I seem to remember the discord group had a lawsuit ongoing, but there hasn't been any updates. Maybe it failed.

Lower lows nearly three months after the initial drop is never a good sign.

This contract was crucial to hitting 2024 guidance so I can see why some in the market may have been sceptical about it coming through. Once finance is sorted everyone can relax and hopefully hold for longer than a week.

Their next delaying tactic will be to try and push the appeal date back once we have a date.

The lengths some people will go to when worrying about their shorts on a positive RNS. 🤡

It does appear that these types are moving from "the finance deal won't happen" to "it will happen but with massive dilution" lately. Saw the same comment on ADVFN.

Hopefully at some point they will accept that they were wrong and apologise profusely.

We are probably bidding for loads. If we do a good job here, happy client. That equates to future business from the client. We need to ensure this is finished on time.

These are the kind of jobs we need. High revenue, fast turnaround. Glad it is finally confirmed.

This makes no sense. We may as well not even bother spending time and money on all this if the funding can only be accessed if the Isles of Scilly Steamship Group fails. What on earth is going on here?

What's going to happen if the levelling up funding is awarded to a different company? Do we end up with three operators on Scilly?

I like the business plan but I don't see the point pressing ahead with the fast ferry service unless we also win the levelling up funding bid.

Consuela you keep repeating that but it contradicts the announcement by the NoGasCaverns group on Twitter yesterday.

There may have been one or two buying/adding since thinking the appeal window has gone and passed but who knows. Most of the value attributed to the JR win was sold back out in September during the plummet to 11p.

It still remains here that the finance deal is the only thing that matters, although higher value to IM does give us options should the finance deal not come through. I remember in the September investors call JW said if there is an appeal then the process would be quick, but quick for the judicial system often still means months.

Meanwhile that 25k tranch buyer is still adding 100k a day at 08:00, 10:40, 13:20, 16:00 evenly spread 2:40 apart. Almost like it is automated. Clearly someone has confidence in the business and is happy to gobble these up cheap over time without affecting the share price too much.

One thing I am not happy about is finding out this news via a BBC article two hours after it was posted. I would have expected an immediate RNS on this.

As I have said all along, the goal of these protestors isn't to win any legal challenges, but to delay and stall the project as long as they possibly can and hope it goes away. They won two years of delay by the JR itself, who knows how long the appeal will take but it will add further delay regardless.

I kinda expected a last minute appeal as that fits with their delay tactics, but I too thought we were in the clear after the 16th passed.

Even more interesting is that these tranches are at pretty much the same time every day. 08:00, 10:40, 13:20 and 16:00.

I noticed those 25000 tranches last week. This is like the 7th day in a row now. Might be small tranches but 100k a day adds up. Strange thing is they are nearly always at full ask.

I would have thought if there is an appeal it would have to be announced to the market immediately.

Wasn't today deadline day?

Think if we don't see an RNS first thing tomorrow announcing an appeal then we are good. Or is that too soon?

I'm glad I didn't take your advice Trenners.

I agree that over the next 12 months it will be back into the 30s and 40s, but right now it is stuck in a predictable trading range. I suspect there are still background sellers not allowing it past 17p. There was a TR-1 reduction on the 9th. How many do they plan to sell?

@LWHL - "However, given you are confident that a deal will be reached, why worry?"

Because like most people here, I have been wrong before.

Rambler Metals Mining (RMM) nearly wiped me out. It was the share I mentioned earlier that bagged on a crucial financing deal getting signed. You know what happened a year later when time came to start paying that debt back? Financial difficulties RNS, followed by suspension a month later because it couldn't afford to pay the debt that it took on, then later liquidation and shareholders got nothing. The CEO was ramping the crap out of it in the months leading up to it all. Got out of that one at 10p (66% loss) after digesting the initial RNS and I got slated by the diehards for selling. People who were still saying the likes of "What a shame it got suspended, I was going to buy more" when the shares halted trading. I'm sure there are those types here as well who would ride this down to 1p and below if excrement did hit the fan

Luckily I shoved what I salvaged from that horror show into HARL at 6p back in October and I got my money back pretty quickly. Felt like a proper gambler there. I no longer have a 6p average here because I was busy averaging up in the 20s whilst the Telegram and Twitter traders were ramping the crap out of it and dumping at the same time. It was easy to believe at 50m market cap and 27p share price that with a 750m contract the share was still undervalued.

RMM taught me that no matter how good you think a stock is, no matter what research you've done or what the CEO says in an interview, no matter how many shares the directors buy, it all means little. Your research and DD could be wrong. The only security on the markets is the posted revenue and profit figures, and the ability to pay liabilities. I will never have 100% confidence in anything on the markets again because nothing is guaranteed.

It also highlights the importance of signing a good financial deal rather than rushing into a bad one. It wasn't the first company to fail over a bad finance deal, I remember 4D Pharma suffered a similar fate last year. So I totally get where JW is coming from when he says he would rather hold out for a better deal than just get a deal done to make the market happy.

I also agree with Broomtree (which is rare) that having a big government contract doesn't guarantee the company won't go bust before the contract starts. I'm sure Navantia would love to take on the whole contract themselves if it came to it. It would be an embarrassment for the government but this government embarrass themselves almost on a daily basis and are soon to be out of power.

So until we have that deal signed and on paper, I will continue to be concerned. Almost everyone I speak with is concerned. I may be confident we'll get the deal but that confidence is not 100% as nothing is guaranteed, and like a lot of people here I've a lot riding on this.