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Hi sasa, I totally agree with that view of yours, however from the way that Mitch was talking yesterday I think that he already believes that it's a done deal on the current terms. Depending how the vote goes, I really doubt that he'll consider changing anything.
Keep well and safe
Hi Barry5, I didn't but now you mention it, he does know a bargain and tends to look after his shareholders. So he would be a terrific guide on that, and I suspect also on whether we're being taken for a "ride" on the Tailwind deal.
Having mulled over the presentation and on many previous occasions defended Mitch in the past when he was being criticised, I am now questioning myself as to whether he has struck such a good deal, or whether I am right to still be concerned.
Would I buy a second hand car from this man? Maybe, but I would get the AA to check it first.
He has a knack of avoiding difficult questions, one early on in the question period as to when or whether the directors would put any of their own skin into SQZ, admittadly shortly after one director did earlier, but he managed to sway around that question, along with a few others. The value he places on their barrels still intrigues me and he didn't give a reasonable acceptable answer from my point of view. The Kistos deal is now beginning to look more like an "if only that one hadn't got away" offer.
Judging by the SP fall immediatley after the broadcast, it does look as though the market is still to be convinced.
Hi Infor,My personal thanks for your efforts and also for the speed on which you have posted your precis of the discussion. Although I have to say that there is nothing in there that has, as yet, changed my view of the deal. Thankyou again.
Infor, Although I am confident that Mitch will reply, as he always has done in the past, I am not as confident that he will address those concerns openly.
I have not contributed to this BB recently, although did so previously having held SQZ since 2009, as I started divesting prior to what I believed to be the exhorbitant and excessive tax, and my holding is now down to five figures. However I am fully aligned with the outstanding majority of posters on here who have expressed their concerns about this overpriced deal and in particular about our proposed new bedfellows.
Your email is brilliantly worded and I hope that the BOD take notice of PI's views and act accordingly.
Although I'm not now as deeply invested as many on here, I strangely feel that many have become aquaitances and hope that the final outcome is a NO deal
Mommur, the post that you refer to appears to have been removed, whether by him or admin doesn't really matter. Many of his strange outbursts I'm sure were drink inspired, anyone who can't control their drink should never be allowed near a keyboard. The poor grammar and spelling mistakes were always a good indication
Tiggerman, how reassuring it is to have read your message. Though admitadly never having been a big contributor to the BB, I did however visit it on a daily basis. Recently I have stayed away for exactly the reasons you have given. I still have my holding of into seven figures and even though I am still in profit having bought very early, long before the Newmont days, I am nowhere near the profit that I could have made had I sold when we were into the 30's. However, like yourself, and I'm sure many others, I have full confidence that this will rise again just like a phoenix from the ashes. I am sitting on some very numb hands and await the upcoming news.
A tremendous pity that we have lost so many of the well informed and intelligent posters, but understandable at the same time
I am invested quite heavily in here (into 8 figures), but have not posted on this BB previously.
However now feel that I must if only to back up what other posters are saying. Your posts Max are very much appreciated on here not only by the regular posters (as is being confirmed by the latest postings) but I am sure also by the silent majority, like me, who tend to read the BB on a regular basis but rarely post.
Hi flexmw, I do understand where you're coming from but as you say it isn't SQZ's style and they only ever RNS information which could be classed otherwise as insider information that could affect the market.They don't appear to RNS info that is purely promotional,. Maybe the interims could include a plethora of that if we're lucky.
Agreed Soder, also with reference to the Parkmead RNS, there doesn't appear to be a set timetable yet or any drilling contacts placed by them, so as far as I can see from Serica's position, nothing has changed and hence no need for them to issue an RNS
Infor, I'm not sure where you have got the idea that the results were ever due on the 20th which you've mentioned a few times, initially I thought that maybe you'd made a slip up. It was clearly stated in the RNS that the date would be the 27th, which coincides with last years interims.
Good Morning Bamps, we can always rely on you to put a balanced view, couldn't agree more with your view of Newcrest and their involvement. I do read this board in a regular basis and often wonder at some of the negative views expressed about NC. As you say, without them we would still be thrashing around on our own or maybe even tied up again with Newmont, and who knows what deal that would have been.
I do class myself as a long term holder having bought my first tranche on the 22nd April 2010 after some seemingly outstanding figures that came out of Tasmania and have held in varying amounts since that day. I paid 1.52p/share then and for the following nine years or so they languished around that area. Having Newcrest as a joint venturer changed all that and the only negative that I can see in the deal was the 5% which has now rectified itself, I believe that partly due to the blinder played by Shaun.
Yesterdays actions hopefully give us a new solid base to work from and only time will tell now. So many thanks for all your input, incidentally I do miss the regular inputs from the likes of Hydro, Paddy, Magic etc.
I shall now return to hibernation but keep up the good work
Hi Sasa, like yourself, just trying to show some positivity. I have faith in the BoD and if I didn't then would not be invested here. I recall around ten years ago when SQZ withdrew from Indonesia there were similar mumblings and criticism. Likewise when in around 2015 when we took Erskine, many suddenly became oil experts. Whereas SQZ were in the process of consolidating a strong platform to move forward from.
It would be around that time that Mr & Mrs Hardy would be buying at around 4p per share. They too had faith and have been rewarded by a hundred bagger. I have been investing since the seventies and can count on one hand the number of ten baggers that I've had. It was the patience and faith that the Hardy's have had that has rewarded them well.
I believe that we just need that similar trust and patience in the BoD to not rush into anything silly but to tie up something that will again take us on the next step forward into an even stronger company. As NewKOTB has said, there could already be something close after we were "STRONGLY" advised not to take any action on the cheeky attempt by AA to buy us out with our own money. It would have been akin to the guy who buys you the next round in the pub with the money that he's just borrowed from you with no intention of paying you back.
Have a good weekend.
I
Hi sasa, I couldn't agree more with all you say. Ever the voice of reason and common sense, which isn't so common on here from some posters.
It would be so easy for the BoD to spend the cash just to placate some posters, but at what expense. I am confident that they will right now be doing due diligence on multiple assets, however if they don't meet the criteria it would be utter stupidity to splash out for the sake of decreasing the bank balance. As has already been mentioned, the cash has grown rapidly only in recent times and the situation cannot be guaranteed to continue in it's present form. If it does then we shall have even more cash to purchase assets that meet the standard. If it doesn't continue, then we have a war chest to purchase assets at what will no doubt be a cheaper price than today's.
The interims will include an interim dividend for the first time and I would not be surprised if that exceeded the 6p suggested by them. So let's just be patient and await that and the result of N Eigg, the whole picture could change dramatically from there on in.
Stay safe
Thankyou Bamps, I can understand Paddy needing a break as unlike many of us, is not yet retired. When GGP produces, he should be able to make that move with bells on. Shall have to begin following the other site. Thanks again for replying.
Yes, as a very regular reader and rarely a contributor, I second Tom E's post. Bamps's quality of input is extraordinarily top class. Would also like to see both Paddy and Hydro. return. I bought my first GGP shares almost ten years ago mainly as a punt, but learnt more about it from these three stated posting in the later years. Very many thanks to all knowledgeable posters