SEI 0.00% 2.9¢ speciality metals international limited

Ann: Full Year Statutory Accounts, page-13

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  1. 361 Posts.
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    I remeber in the "old days" when I was doing some "fund raising" for a mining project. I went to London, "as one does" as the Company was floated on the AIM as well as the ASX, I was seeking a "lousy 10 million" and I was told in no uncertain terms;

    "are you serious? Why would we give you 10 million? That is not enough to start a project. All you are doing is raising money to pay your wages and cover Corporate overheads"

    Anyway sorry to take a "trip down memory lane" but it was a valuable lesson, "go big or go home"

    The 10 million was raised by issuing shares and options to existing shareholders and the short fall was taken up by "sophisticated investers" everyone was happy and we got the project up and running and "London" was despearate to buy shares. The share price, well the share price made a minumum "10 bagger" for all shareholders.

    Sorry about that and thank you everyone for letting me be a little sarcastic in my earlier posts, but I do get a little frustrated when I see such excellent assets being "sat on" by an incompetant management team for 7 years.

    Again thank you for letting me release a little of my frustration. Lets hope Russell gets off his ---- and actually starts doing something, 7 years is long enough to prove you are going to nothing and "milk" the company, now its time to do "something".

    DYOR
 
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