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Strategic Minerals - Now I am going off you

By Tom Winnifrith | Tuesday 14 March 2017


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Yesterday I praised Strategic Minerals (SML) for the open and honest way it described a possible deal involving a bank Letter of Credit that was yet to be signed. I did not say the shares were cheap or expensive but I offered praise - HERE. I take it all back after a ramptastic release today which sees the shares, quite rightly, 10% down at 0.825p. Scumbags.

Strategic proudly announced:

Strategic Minerals PLC the diversified mineral production and development company, is pleased to announce that SP Angel Corporate Finance LLP ("SP Angel"), nominated adviser and broker to Strategic Minerals, published a research note in respect of the Company on 9 March 2017. The research note is only available to clients of SP Angel and may be obtained by shareholders of SML through their own independent FCA authorised financial adviser.

So a company paid vast amounts to act as Nomad and broker to the company has published a research report last week. Hmmmm I wonder if it was bullish or not? Was it as bullish as that classic full colour 23 pager from SP Angel's mining team on Mkango Resources (MKA) pre its IPO which could not quite squeeze in the minor detail that the company was technically insolvent? Who knows?

Given that Strategic's market cap is just £10 million the only folks who might buy the shares are private investors who are almost certainly NOT FCA regulated. So let's rephrase the statement shall we?

Strategic Minerals PLC, a tiddly little AIM promote which is almost certainly trying to ramp its shares ahead of the next placing would like to encourage mug punters to buy the stock by telling them about a document they will not be able to read and which is already out of date but which, because it was penned by a paid shrill, is bound to be very bullish.

Ends

I have gone off Strategic. Today's statement, crafted by PR scumbags Yellow Jersey, a firm owned by the most morally bankrupt PR tosser in town, demonstrates a clear contempt for the retail investor.


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