Share Name Share Symbol Market Type Share ISIN Share Description
Subsea Resources LSE:SUB London Ordinary Share GB00B03CKQ88 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 0.26p 0.00p 0.00p - - - 0 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Unknown - - - - 0.92

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Date Time Title Posts
22/12/201415:30Subscription Shares - ISA'able28
29/1/200916:55SUBSEA RESOURCES: A possible Treasure Trove4,945
12/12/200718:57Subsea Valuation37
23/12/200613:25SUB - another doomed stock4
19/12/200608:44SUBSEA RESOURCES - Serious Investors Tread53

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DateSubject
25/9/2016
09:20
Subsea Resources Daily Update: Subsea Resources is listed in the Unknown sector of the London Stock Exchange with ticker SUB. The last closing price for Subsea Resources was 0.26p.
Subsea Resources has a 4 week average price of - and a 12 week average price of -.
The 1 year high share price is - while the 1 year low share price is currently -.
There are currently 355,586,541 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Subsea Resources is £924,525.01.
07/8/2013
09:14
peterbill: PLIS - the intrinsic value is greater than the subscription share price ... could be a number of reasons, the prices quoted are mid price and spread could be wide ... I've got the intrinsic value at 141p and the sub's price at 137p ... going by that it would be better to convert and then sell, if you have the funds available. It's not long now, so will have to decide.
25/3/2012
19:50
peterbill: Hi Kenmitch, Yes, have been watching PCGS, expiry end Jan 2014 ... have an order in for some if it drops any more. What do you think of ATSS? Long way to expiry, and Artemis did have a good name for turning things around. Worth buying for the turn a round? You can skip the header by clicking on the "skip header" right at the top of the thread. Will add short cuts to all the different sub share graphs in the header soon, when back from my holidays. PB PS Does anyone know where I could get pointers to find the code for getting the CFP of each sub in the header using live prices ... I've got it in excel but looking for pointers for doing it in HTML?
22/3/2012
18:19
kenmitch: PCGS remain excellent value and the share (now trading around NAV) holds up well on down days. THE best sub share for a cautious investor. Target 15% on the share price to 130p by the end of next year and the sub should double from 15p. Or invest £5000 in the share looking for 15% capital gain by the end of next year for a profit (excluding dividends) of about £750. Or invest £1000 in the subs for a profit of around £1000 IF the share can get to 130p. Thanks for starting this thread Peter... but is there any way of avoiding having to scroll through all the useful charts before finding the posts?
10/2/2012
16:07
peterbill: Cheers Mangal, I wanted to compare the sub price to the underlying price, but there did not appear to be any one place on ADVFN so made this one. Didn't take too long. Will add others, if required. PB
01/2/2008
10:44
grupo guitarlumber: Response to Public Censure RNS Number:0814N SubSea Resources PLC 01 February 2008 SubSea Resources PLC ('SubSea' or 'the Company') Response to Public Censure by the London Stock Exchange SubSea is an AIM-traded company which specialises in the research, survey and salvage of high value non-ferrous metals and other valuable cargoes from deep-water ship-wrecks. The Board of SubSea notes that the London Stock Exchange has today announced a Public Censure of SubSea in respect of breaches of the AIM Rules during the period from September 2005 to October 2006. The full text of the Censure is available on www.londonstockexchange.com/aimnotices. The following text is extracted from the Censure: "SANCTION" In determining the appropriate sanction against SubSea in respect of the above breaches of the AIM Rules during the period from September 2005 to October 2006, the following matters have been taken into account: The breaches set out in this public censure were serious in nature, including (but not limited to): - notification of misleading information to the market; - failure to notify the market, without delay, of material developments, particularly in respect of SubSea's revenue forecasts; and - failure to seek and/or take into account advice from its nominated adviser regarding the application of the AIM Rules. - SubSea's share price decreased by 24% following the announcement of changes in its future work programme and revised revenue forecasts on 16 October 2006. There was a further decrease of 17% following the Company's announcement on 1 November 2006 that the S&L agreement would not complete and giving a progress report on Project Celia. - On announcing that it was unlikely to secure a ship for interest contract for the 2007 season and that the previously located wreck Ella had not definitively been proven to be the Ella on 12 February 2007, SubSea's share price decreased by 46%. It dropped by a further 10% when it was announced that this wreck was not Ella on 9 October 2007. - The number, nature and duration of the breaches evidence a disregard for the AIM Rules by SubSea, amounting to reckless conduct. - SubSea's Board of Directors has undergone significant changes since the matters referred to in this public censure took place during the period from September 2005 to October 2006. New controls have been put in place by SubSea in relation to the Board's decision-making procedures, the seeking of advice from its nominated adviser and the release of RNS announcements. - As announced on 27 December 2007, SubSea's interim results for the six months ended 30 September 2007 were subject to an emphasis regarding its ability to continue as a going concern. The interim results also stated that SubSea "will require debt, equity or an alternative source of financing within the first few weeks of Calendar 2008". In light of the doubts as to SubSea's ability to continue as a going concern, and in order to facilitate SubSea's attempts to obtain new financing, the Exchange has not, in this instance, sought the imposition of a fine." The Board, which has fully co-operated with the London Stock Exchange and its enquiries, completely accepts the findings of the Public Censure. As set out in the Annual Report for the year ended 31 March 2007 ('Annual Report 2007'), the Board supports high standards of corporate governance and intends to comply, as far as is practicable, with the Combined Code on Corporate Governance published in July 2003 and updated in June 2006 ("the Combined Code") and follows the recommendations on corporate governance of the Quoted Companies Alliance ("QCA"), in each case to the extent reasonable, in the Board's view, for a public company of SubSea's current size and nature. The Board is responsible to shareholders for the overall management of the Company. The Board formulates and agrees the overall corporate strategy and management of the individual businesses. Briefing papers are circulated on a timely basis on various routine matters and any issues where a decision is required. The Board has adopted a formal schedule of matters reserved to it for decision. Since January 2007 the Board has generally met fortnightly. The Board believes that this approach has substantially improved the Company's governance and its financial and operational controls. The Annual Report 2007 explained that the formal framework for Corporate Governance at SubSea had been updated (including the Terms of Reference of the Audit, Nomination and Remuneration Committees). For the first time, the Annual Report 2007 contained a section on each of Corporate Governance and Risk Factors. Full details are available on the Company's website www.subsearesources.com. Further to SubSea's Interim Results announced on 27 December 2007, the Company continues to face financial difficulties and the Board is urgently seeking further financing. A further update will be made as soon as possible. Ric Piper, Chairman, comments: "SubSea's Board has undergone significant changes since the matters referred to in this public censure took place during the period from September 2005 to October 2006. New controls, which the Board believes are substantially improved, have been put in place in relation to the Board's decision-making procedures, the seeking of advice from the Company's nominated adviser and the release of RNS announcements." 1 February 2008 ENQUIRIES: Subsea Resources PLC Tel:+44 (0)20 7495 8696 Ric Piper, Chairman Edward Cox, Chief Financial Officer HB Corporate Tel:+44 (0)20 7510 8600 Rod Venables College Hill Gareth David Tel:+44 (0)20 7457 2020 This information is provided by RNS The company news service from the London Stock Exchange END MSCBGGDDIXGGGIB
01/2/2008
10:43
grupo guitarlumber: AIM Disciplinary Notice RNS Number:0782N AIM 01 February 2008 1 February 2008 10 Paternoster Square London EC4M 7LS Telephone +44 (0)20 7797 1000 www.londonstockexchange.com STOCK EXCHANGE AD4 AIM DISCIPLINARY NOTICE PUBLIC CENSURE - SUBSEA RESOURCES PLC AIM DISCIPLINARY COMMITTEE _____________________ PUBLIC CENSURE ______________________ In relation to the conduct of SUBSEA RESOURCES PLC for Breach of Rules 10, 11, 13, 17 and 31 of the AIM Rules for Companies (the "AIM Rules")(1) SUMMARY 1. The London Stock Exchange plc (the "Exchange") of 10 Paternoster Square, London EC4M 7LS, announces for the reasons listed below, and having agreed with SubSea Resources plc ("SubSea" or "the Company") the facts and matters set out below, that on 1 February 2008, the AIM Disciplinary Committee ("ADC") has approved a consent order agreed between the above parties which imposes a public censure on SubSea in the terms set out below. 2. This sanction was imposed on SubSea in respect of breaches of AIM Rules 10, 11, 13, 17 and 31 during the period from September 2005 to October 2006, as summarised below: * AIM Rule 10: SubSea failed to take reasonable care to ensure its announcement on 8 September 2005 in respect of the wreck 'Ella' and its announcement on 12 July 2006 disclosing a sale and leaseback agreement were not misleading, false or deceptive and did not omit anything likely to affect the import of such information. * AIM Rule 11: SubSea failed to notify without delay new developments which were not public knowledge (and which, if made public, would have been likely to lead to a substantial movement in its share price) concerning a change in the expectation of its performance, as disclosed in its announcement dated 22 November 2005. * AIM Rule 13: SubSea failed to notify without delay details of funding that it had received from a substantial shareholder in 2006, together with a statement that the terms of the transaction were fair and reasonable insofar as SubSea's shareholders were concerned. * AIM Rule 17: SubSea failed to notify without delay a material change between SubSea's actual trading performance and the forecast it notified on 22 November 2005. * AIM Rule 31: SubSea failed to ensure that advice from its nominated adviser was sought when negotiating completion of the sale and leaseback agreement from July to October 2006 and/or on receipt of the interim funding from related parties; and failed to ensure that its nominated adviser's advice to eliminate forecasts from the announcement dated 16 October 2006 was taken into account. RELEVANT REGULATORY PROVISIONS 3. Under the AIM Disciplinary and Procedures Handbook (the "Handbook"), if the Exchange considers that an AIM company has breached its responsibilities under the AIM Rules, it can refer the matter to the ADC. 4. Pursuant to the Handbook, if the ADC finds, on the balance of probabilities, that the AIM company has breached the AIM Rules it may impose one or more of the following sanctions: - a fine; - a censure; - publish the fact that the AIM company has been fined and/or censured and the reasons for such fine or censure; and/or - cancel the admission of the company's AIM securities. 5. Under AIM Rule 10, an AIM company must take reasonable care to ensure that any information it notifies is not misleading, false or deceptive and does not omit anything likely to affect the import of such information. 6. Under AIM Rule 11, an AIM company must issue notification without delay of any new developments which are not public knowledge concerning a change in, inter alia, its expectation of its performance, which, if made public, would be likely to lead to a substantial movement in the price of its AIM securities. 7. Under AIM Rule 13, an AIM company must issue notification without delay of any transaction whatsoever with a related party(2) which exceeds 5% in any of the class tests contained in Schedule Three of the AIM Rules. The notification must disclose the following: - the information specified by Schedule Four of the AIM Rules; - the name of the related party concerned and the nature and extent of their interest in the transaction; and - a statement that with the exception of any director who is involved in the transaction as a related party, its directors consider, having consulted with its nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned. 8. Under AIM Rule 16, transactions completed within a 12 month timeframe must be aggregated to determine whether AIM Rule 13, inter alia, applies where the transactions are entered into by the AIM company with the same person(s) or their families. 9. Under AIM Rule 17, an AIM company must issue notification without delay of, inter alia, any material change between its actual trading performance or financial condition and any profit forecast, estimate or projection included in the admission document or otherwise made public on its behalf. 10. Under AIM Rule 31, an AIM company, inter alia, must ensure that each of its directors seeks advice from its nominated adviser regarding its compliance with these rules whenever appropriate and takes that advice into account. BACKGROUND 11. SubSea was admitted to trading on AIM on 4 November 2004. Its principal activity is the recovery of cargoes from shipwrecks and the collation of data relating to such cargoes. 12. Trading in the Company's AIM securities was suspended on 8 November 2006, pending clarification of the Company's financial position. The Company's AIM securities were restored to trading on 18 December 2006 once the Company's financial position had been clarified. PARTICULARS OF BREACHES Sale and Leaseback Agreement 13. On 12 July 2006, SubSea announced that: "In a mixed arrangement of debt issuance and specific asset financing the Company has raised approximately £7.5 million. These funds will be applied to the Company's working capital balance" (emphasis added). The funds were stated in the announcement to have been raised via a £4.5 million sale and leaseback agreement in respect of SubSea's vessel John Lethbridge (the "S&L agreement") and a £3 million debt issuance. 14. At the time of the announcement on 12 July 2006, the terms of the S&L agreement had been agreed, but SubSea had not in fact received any funds pursuant to it. From July to October 2006, SubSea was still in discussion with the counterparty regarding the fulfilment of the counterparty's obligations under the S&L agreement. These discussions ultimately failed and the funds were never received. 15. On 1 November 2006, SubSea announced that the S&L agreement had not completed and was unlikely to proceed. The announcement made it clear that the funding of £4.5 million under the S&L agreement had never in fact been received by SubSea. The announcement also included a Progress Report on Project Celia in which the Company confirmed that, despite recent delays, Celia remained core to the Company's planned work and it was expected that the John Lethbridge would continue work on the site over the forthcoming winter season. 16. Following the release of this announcement, SubSea's share price dropped by 17%. 17. SubSea's AIM securities were suspended from trading on 8 November 2006 due to uncertainty surrounding its financial position as a result of non-receipt of the funds from the S&L agreement. 18. By incorrectly stating in the announcement of 12 July 2006 that it had raised £4.5 million from the S&L agreement, SubSea was in breach of AIM Rule 10 by failing to take reasonable care to ensure the announcement was not misleading, false or deceptive and did not omit anything likely to affect the import of the information notified. Ella 19. On 29 April 2005 SubSea announced that it had entered into an agreement with underwriters in respect of a 19th century bullion cargo, Ella. The project to locate and recover the cargo was expected to start in July 2005. 20. On 8 September 2005 SubSea announced that it was "pleased to report that it has concluded work in respect of the survey of the previously announced Ella Project, the Company is delighted to confirm that the survey team have succeeded in locating this C19th bullion wreck..." (emphasis added). 21. However, on 12 February 2007 SubSea announced, inter alia, that "The Board now believes that the wreck located has not definitively been proven to be the Ella. Further work, including a further survey visit to the site of the wreck, would need to be carried out to definitively conclude the wreck is indeed the Ella." In the same announcement, SubSea also stated that it was unlikely to secure a ship for interest contract for the 2007 season. SubSea's share price decreased by 46% on the day of this announcement. 22. On 9 October 2007 SubSea announced that survey work in early October 2007 had proved definitively that the wreck was not Ella. SubSea's share price decreased by 10% on the day of this announcement. 23. SubSea was misleading in its announcement on 8 September 2005 by stating that its survey team had succeeded in locating Ella (which had not been definitively established as at that date) and by failing to state that further work was required to confirm the identity of the wreck. On this basis, SubSea was in breach of AIM Rule 10 by failing to take reasonable care to ensure the announcement was not misleading, false or deceptive and did not omit anything likely to affect the import of the of the information notified. Related Party Transactions 24. As set out in Table 1 below, a substantial shareholder of SubSea provided a number of loan advances to SubSea over the period from 6 June 2006 to 31 October 2006. Table 1 - Schedule of loan advances provided by a substantial shareholder of SubSea Date of advance Amount 6 June 2006 GBP 600,000 5 July 2006 USD 200,000 24 August 2006 GBP 360,000 8 September 2006 GBP 240,000 31 October 2006 GBP 200,000 31 October 2006 USD 300,000 25. For each of the related party loans mentioned above, SubSea failed to consider whether AIM Rule 13 applied to the transactions on an individual basis. Furthermore, SubSea failed to assess whether the related party transactions should be aggregated under AIM Rule 16 to determine whether AIM Rule 13 would apply on an aggregated basis. 26. These related party loans would have breached the relevant class tests on an individual and/or aggregated basis. Therefore, as related party transactions under AIM Rule 13, the loans should have been announced by SubSea without delay, disclosing the information required by that Rule. However, SubSea only disclosed the appropriate Rule 13 information in its announcement on 18 December 2006 (some 2 to 6 months after the loans were made). 27. SubSea was therefore in breach of AIM Rule 13, by failing to notify without delay details of the funding that it had received from a substantial shareholder from June to October 2006, together with, inter alia, a statement that the terms of the transactions were fair and reasonable insofar as its shareholders were concerned. Forecasts 28. SubSea's announcement dated 22 November 2005 included the following statement: "As outlined in previous reports the survey team associated with John Lethbridge could generate revenue in excess of USD 100 million in the next 12 to 18 months..." 29. Throughout the whole forecast period of 12 to 18 months from the announcement on 22 November 2005, no survey work was commenced on any of the wrecks named in the announcement. During the forecast period (and particularly during its latter stages), there was therefore no realistic prospect of SubSea achieving its forecast revenues, notwithstanding a statement in the announcement that due to the nature of marine operations the actual timing of SubSea's proposed work programme may vary. 30. On 16 October 2006 SubSea announced changes in its future work programme, stating that they would "impact only on the timing of the Company's revenue stream, not on the quantity". Contrary to advice received from SubSea's nominated adviser, the announcement stated that SubSea "is now planning total revenues in the next 12 months of approximately GBP 50 million to be generated at a cost of approximately GBP 15 million." SubSea's share price decreased by approximately 24% following the release of this announcement. 31. In the absence of any survey work having been commenced by SubSea, the Exchange considers that SubSea was or should have been aware before October 2006 that it would not achieve the forecast revenues announced on 22 November 2005. No updating announcement to this effect was made during the relevant period, as required by AIM Rules 11 and 17. When the revised forecast was made public, it led to a substantial movement in SubSea's share price. 32. Based on these facts, SubSea breached AIM Rules 11 and 17 by failing to notify without delay material changes in its expectation of performance and between its actual trading performance or financial condition and a profit forecast, estimate or projection otherwise made public. Directors' Responsibility 33. Despite being aware that funds from the S&L agreement had not been received at the time of the announcement on 12 July 2006 (see paragraphs 13 to 18), SubSea failed to ensure that advice was sought from its nominated adviser during the period from July 2006 to October 2006 regarding its non-receipt of funds under the S&L agreement. 34. Separately, SubSea did not discuss the interim funding received from a related party (as set out in paragraphs 24 to 27) with its nominated adviser in order to assess its AIM Rule 13 obligations. 35. When SubSea was drafting the announcement dated 16 October 2006 (see paragraph 30), it sought advice from its nominated adviser but failed to take into account their advice to eliminate forecasts from that announcement. 36. SubSea was therefore in breach of AIM Rule 31 during this period, by failing to ensure that advice was sought from its nominated adviser when negotiating completion of the S&L agreement from July to October 2006 and/or on receipt of interim funding from a related party over a similar period; and by failing to take into account advice from its nominated adviser to eliminate forecasts from the announcement dated 16 October 2006. SANCTION 37. In determining the appropriate sanction against SubSea in respect of the above breaches of the AIM Rules during the period from September 2005 to October 2006, the following matters have been taken into account: - The breaches set out in this public censure were serious in nature, including (but not limited to): o notification of misleading information to the market; o failure to notify the market, without delay, of material developments, particularly in respect of SubSea's revenue forecasts; and o failure to seek and/or take into account advice from its nominated adviser regarding the application of the AIM Rules. - SubSea's share price decreased by 24% following the announcement of changes in its future work programme and revised revenue forecasts on 16 October 2006. There was a further decrease of 17% following the Company's announcement on 1 November 2006 that the S&L agreement would not complete and giving a progress report on Project Celia. - On announcing that it was unlikely to secure a ship for interest contract for the 2007 season and that the previously located wreck Ella had not definitively been proven to be the Ella on 12 February 2007, SubSea's share price decreased by 46%. It dropped by a further 10% when it was announced that this wreck was not Ella on 9 October 2007. - The number, nature and duration of the breaches evidence a disregard for the AIM Rules by SubSea, amounting to reckless conduct. - SubSea's Board of Directors has undergone significant changes since the matters referred to in this public censure took place during the period from September 2005 to October 2006. New controls have been put in place by SubSea in relation to the Board's decision-making procedures, the seeking of advice from its nominated adviser and the release of RNS announcements. - As announced on 27 December 2007, SubSea's interim results for the six months ended 30 September 2007 were subject to an emphasis regarding its ability to continue as a going concern. The interim results also stated that SubSea " will require debt, equity or an alternative source of financing within the first few weeks of Calendar 2008". In light of the doubts as to SubSea's ability to continue as a going concern, and in order to facilitate SubSea's attempts to obtain new financing, the Exchange has not, in this instance, sought the imposition of a fine. BOB BEAUCHAMP Manager, AIM Investigations & Enforcement AIM Regulation -------------------------- (1) References to the AIM Rules refer to the AIM Rules for Companies dated July 2005 and August 2006, as applicable. (2) Definition of related party under the AIM Rules includes, inter alia, a director and a substantial shareholder of the AIM Company. This information is provided by RNS The company news service from the London Stock Exchange END MSCBGGDDUDGGGIB
22/1/2008
13:47
gengulphus: no institutions dumped in the last 6 months why Because any institution attempting to dump would get next to nothing for the shares - and by that, I mean well under even the present share price. Better to hang on and hope that, against all odds, someone gives them a deal that retrieves something from this wreck. And given your blatant ramping, you're filtered. Bye. Gengulphus
18/10/2007
17:47
petergoddard: No, blue59 - I've never held. As I've said before, I got very interested initially; got hold of the Placing Document from the company and did some research into the company. I was seriously considering buying a "few 'K's" worth of shares. But, luckily as it turned out, I dithered around without buying. There was just something about the company that I didn't feel was right! There was one poster on here [the famous or infamous bello39] who was so incredibly bullish. He somewhat hacked me off after I'd dared to raise one or two queries on this board, hoping for a sensible reply or two and got told off. But I've broad shoulders and one meets types like this on many boards! But Finally two things did it for me. 1. Mark Gleave had kept shareholders informed in late 2005/early 2006 with regular updates on the progress of: the buying of various bits of search or salvage kit; the fitting out of the John Lethbridge; and the time scales for sea trials. [Most of these bulletins later disappeared from the company's website after MG's demise!. But I still have most those that were e-mailed to me by Mark Gleave from June '05 to April '06] It had always seemed clear to me at the time that there were likely to be slippages in this type of programme. But when I asked the company directly and raised the question on on this thread, my queries were always turned away. Here's what MG wrote to me on 9th February 2006: "Although I regret that I cannot answer your specific questions I can confirm that at the moment there are no changes to our programme and should any arise the company would inform the market in the usual way. With thanks and best regards Mark FJ Gleave" 2. The main thing that troubled me was on 5th February 2006 when Mark Gleave issued a really silly announcement onto the company website and by e-mail which listed all the "targets" with their likely tonnages and what minerals involved [gold, copper ingots, etc.]. He then totalled each of these to an incredible figure of nearly UD$600 million dollars! I still have this e-mail, dated 5th February 2006, and could produce it here if anyone wants to see it. Frankly I really couldn't understand the reason for putting out this list, which I thought was interesting but valueless! It certainly could not be taken as any kind of valuation of SubSea Resources at that time. But I suspect that a number of un-sophisticated investors may well have run away with the idea! The day after the e-mail, on Monday 6th February 2006, SUB's share price was 25p. From then on, apart from a brief few days at 24p, the share price stayed well above 25p till August 2006 reaching a high of 44p. The collapse since then is well documented! By that time, I had decided that I couldn't put my money into SUB. Events have proven me right! But I remain interested in what finally happens to SUB - I can't see that they will remain in operation for much longer. But at least SUB is a good example of the City's old watchword - CAVEAT EMPTOR! By the way, buying this share at 1p wouldn't interest me either!!
05/10/2006
13:43
kenmitch: Probably useful upside if project Celia goes to plan - i.e most of the cargo recovered by late October. Maybe well into the 40s but then the share price could drift again. What is there to provide upside for the shares after that until next year? The problem is that if Celia does not go to plan then the downside in the short term is substantial because there is afaiaa no other short term news likely to lift the share price, and worries about how they will survive without more cash will come to the fore. I've sold because this is now too much of a high risk gamble for me. There could be a much better buying opportunity ahead. With better luck with the weather and if they are able to prove without doubt next year that the technology is as good as they say it is then the shares and warrants could soar. But very likely imo from a lower -possibly much lower - price than now. The projected profit figures posted here and elsewhere are juicy - eventually. Best wishes to those with the courage to hold. You could still end up doing very well in a few weeks time.But any here who suggest that a big rise in the share price and a near total success for the Celia project is guaranteed are imo failing to think through/about the possible negatives. So often too a falling share price tells its own story. The market can get it wrong, but more than not the market gets it right and the enthusiasts get it wrong.
04/9/2006
15:07
kenmitch: Agreed. The warrants are overpriced. But whether to buy them or not depends on your price targets for SUB. If 80p or above then well worth getting the warrants as that should ensure a warrant price of 40p even if all the big premium for time value were to disappear. i.e a rise from 16p to 40p is better than a doubling of the share price, and even better gains for the warrants if the share price goes higher still. e.g 100p for the shares should mean at least 60p for the warrant. For more modest targets then go for the shares. e.g a share price of 60p - a 50% gain, might only give a warrant price of 20p if all the premium were to disappear, i.e less upside than for the shares. There is a definite risk that the warrants will underperform the shares for a while. But SUB is a potential multi bagger. And an even bigger gain for the warrants should that prove to be the case, with the added advantage that you can stake a good bit less to get the same cash upside. I rarely buy overvalued warrants, but have made an exception with SUBW. btw - It is not that surprising that there has been some profit taking after the strong run up. Plenty of time for another run for the shares on further good news - or even while waiting for it!
Subsea Resources share price data is direct from the London Stock Exchange
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