Salt Lake Potash Share Discussion Threads

[kennyp52] 29/7/2021 06:59

Let’s hope we get bought out by someone who knows what they are doing .

[hamidahamida] 29/7/2021 06:43

There you go again yet again This now management can not be trusted with what they say.......Absolutely disgraceful

[adorling] 29/7/2021 06:30

RNS: so the feed ponds at Lake Way don’t produce enough salt to feed into the processing unit. That is a bit bloody late to find out your key process and assumption does not work and shaft all shareholders. TC must be fired for his incompetence. Sadly I expect the share to tank today when AIM starts trading and financing will be excruciatingly difficult with regards to price for the placing?

[dartboard1] 29/7/2021 04:53

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02400828-6A1043136?access_token=83ff96335c2d45a094df02a206a39ff4

[ukgeorge] 28/7/2021 14:18

It's taken me a couple of days to think of a positive that we might get in the next RNS.

Just maybe Tony Swiericzuk, will stand down/be sacked and not get a single penny/cent in payout.

Fingers crossed a class action against his actions is taken. Not that it will help SO4.

[gutterhead] 28/7/2021 11:23

I mean, they only issue an RNS for bad news and fundraisers.
Bent

[gutterhead] 28/7/2021 11:22

See below from April……




Tony Swiericzuk
@TonySwiericzuk
·
23 Apr
We don’t require any further approvals to move into commercial production, premium SOP being sold to demanding farmers in next few weeks

[1234gold] 28/7/2021 10:23

class action.

[activmojo] 28/7/2021 09:59

Costs up as well, how will this impact on contracts is one of many questions.

The SO4 operations team continues to work towards continuous operation of the process plant to deliver first SOP, expected over the coming weeks,” said Tony Swiericzuk, CEO and Managing Director.




You can read what Tony has had to say. Although he's been quiet recently I'm sure he'll take questions

[kennyp52] 28/7/2021 08:06

How to make yourself look a complete plonker …

Tony Swiericzuk
@TonySwiericzuk
·
18 May
Plant commissioning (Rocket) along, now over 40% fully complete. Pond cell harvesting underway again and plant feed is just days away. Premium SOP production imminent (Bottle with popping cork Party popper)

To be honest .. had I seen this kind of childish post with rockets and party poppers I’d have sold out at that time . Is this guy just a total BS merchant ?

[goodgrief] 27/7/2021 14:25

It was like watching a slow-motion train wreck.
But sometimes 5 hours can seem like an eternity! :)

[elviron] 27/7/2021 13:51

GoodGrief, that took several years though! We're about 5 hours into this delay!

[goodgrief] 27/7/2021 13:48

adorling... Wolf Minerals is probably closer to the mark. They had delays ramping up production levels due to faulty Chinese plant. And if I recall they were further penalised by failing to meet production contracts. Finally went under.

[elviron] 27/7/2021 13:41

You have to bear in mind how much money has already been sunk into this project - infrastructure built...Even with a fairly diabolical update you'd be hard pressed to push the mcap much below £60-70m (i.e.8-9p). I would suggest that the most likely scenario is one in which the ramp up process has been delayed (as per kennyp52), which means the cash generation won't be sufficiently fast to get it to break-even before the coffers run dry. This sort of situation is fairly common - what is not common is how SO4 are handling their announcements. Why is there a need to delay the statement of facts? Are they not in possession of them?

If it is "only" delayed then there is plenty of value here. Don't forget the Chairman sunk another $500k in at the last fundraise at 20p (he's been a consistent and sizable supporter) and even Tony put a bit in too.

[kennyp52] 27/7/2021 12:37

Is it production for the next year due to delays in implementing production or is it the actual "salt harvest" they have miscalculated ? Where you getting this from ? I doubt the latter as they will have all kinds of scientific confirmations surely ? Or is it typical incompetence of the production / plant side meaning they cannot get cash-flow quick enough and need to raise ?

[adorling] 27/7/2021 09:45

Another AIM CEO who should be fired for incompetence, lying to investors and misleading investors and the market. He will have to go as no serious AIM investor will back him anymore let alone any finance lenders.

However, if there is a serious problem with the whole process to produce Sulphate of Potash then its probably lights out for a few years whilst they try and get it right if they can? Memories of Sirius Minerals CEO Chris Fraser comes to mind.

[activmojo] 27/7/2021 09:00

They have got the salt harvest drastically wrong and don't have enough and most likely knew this some time ago or at least suspected it. They couldn't say anything because it would of messed up the last fund raising. There in a hole but don't worry Middlemas always manages to come up smelling of roses. The future fund raise price will be the next shocker.

[1234gold] 27/7/2021 08:27

I am shocked at the level of ineptitude here. Should we be canvassing an opinion from a class action lawyer regarding all of Tony's LinkedIn tweets ? I feel very misled by them...

[1234gold] 27/7/2021 08:22

haha...I'm laughing because otherwise I'd be crying. Middlemas and co should all step down.

[goleftmassa] 27/7/2021 08:06

They haven't suspended on AIM previously as you don't need to ahead of raises (though, frankly, you should) - this is very clearly more serious to this and affects the trading, which means AIM joins the woe.

[dartboard1] 27/7/2021 07:59

Thought we didn't do suspensions on aim... Only asx, they haven't halted so4 on previous asx ones

[goleftmassa] 27/7/2021 07:57

It is suspended - always important to actually read and digest an RNS carefully.

[dartboard1] 27/7/2021 07:50

Why isn't it tanking? Are we priced in for this news?