Hi @Tom73

Go to the Companies page and make sure you have the "show Premium only"

For some reason KLL is top ranked among the free users. But with the toggle set to premium you'll filter that out.

Thanks @Strawman that fixed it, cheers

KLL is under financial trouble and in administration.

The share price is also not 7.28 but much lower. They did do a consolidation so maybe that is throwing out the data?

From marketindex

Thanks @edgescape

Looks like it's still classed as 'suspended'. Once the ASX marks it as 'delisted' it *should* wash away from our systems and can close out at whatever price determination is applied. Until then it'll still be around in Strawman.

I can however close it out from individual portfolios -- so long as we can have an objective "sell" price (even if that's zero).

Interesting @Strawman that KLL was top ranked among the free users a month ago when it was suspended from trading and will be removed from the ASX list on 29th September this year if they don't correctly lodge the 9 reports that are currently overdue according to this: Long-Term-Suspended-Entities.PDF (10 July 2024)

As well as Kalium Lakes (KLL), which is probably worth zero now, I note that Rewardle (RXH) is also on that list, with 4 reports overdue and a similar deadline to lodge those (29-Sep-2024). Anybody who still has some Strawman.com-monthly-rewards money with Rewardle that was transferred over when that other mob went belly-up, might want to get it out ASAP as they look like they're also going to go broke, or go private at the very least.

Other names in that list from the ASX of companies that have deadlines to meet to avoid being de-listed from the ASX list include AKP (Audio Pixels), HLF (Halo Foods), LAW (LawFinance), LLL (Leo Lithium), LVT (LiveTiles - with 6 reports overdue), NUH (NuHeara), PAN (Panoramic Resources), PET (Phoslock Environmental Technologies) and X64 (Ten Sixty Four, the old Medusa Mining, with their Co-O mine in the Philippines that they've lost access to; they also have 9 reports overdue and a 31st July deadline for all of those - which is less than two weeks away).

This list is of companies that are currently in breach of the ASX listing rules due to non-lodgement of required reports with the ASX by the due dates, and the ASX is now publishing deadlines for them, so if they do not comply with all of the listing rules and satisfy the ASX that they should be reinstated to trade as a going concern, by their respective due dates, they will be delisted. In most cases, companies that are delisted usually provide a 0% return (or 100% loss) for shareholders, but occasionally they may continue on as a private company or be wound up and shareholders may receive some of the proceeds of asset sales, if there are any. It's usually bad news however, not good news when a company gets delisted. Usually very bad news.

Further Reading: https://thewest.com.au/business/mining/sale-of-kalium-lakes-beyondie-potash-project-in-limbo-again-as-reward-minerals-raising-falls-through-c-13644189

Sale of Kalium Lakes’ Beyondie potash project in limbo again as Reward Minerals raising falls through

Adrian Rauso, The West Australian, Mon, 19 February 2024

Harvesting at the Beyondie site in March 2023. Photo: Kalium Lakes. 

Reward Minerals has seemingly bitten off more than it can chew, after aborting a capital raise to gobble up Kalium Lakes’ problematic Beyondie sulphate of potash project in WA’s Little Sandy Desert.

Nedlands-based Reward told the market late on Friday it would withdraw a $22.8 million rights issue announced last month to fund the $19.8m purchase of Beyondie.

The West Australian understands a poor uptake of the rights issue — comprising of two new shares for every share held, plus a free attaching option for every two new shares — forced the funding arrangement to be abandoned.

Shares in Reward have been suspended from trading since February 5 and are expected to remain halted for at least another week.

ASX-listed Kalium collapsed into hands of administrators from KPMG in August owing more than $200m to lenders, including the Federal Government’s Northern Australian Infrastructure Facility.

Receivers from McGrathNicol snatched the keys to the flagship Beyondie asset shortly after.

In November The West Australian first reported Reward’s interest in Beyondie, as well as the potential difficulties in getting a deal to land — given the fledgling potash player’s market capitalisation at the time was just $9m.

Despite the rights issue falling through, Reward told the market on Friday it is in “advanced discussions” with the receivers regarding an “alternative proposal”.

While Reward’s acquisition of Beyondie looks to be on shaky ground, there may be a small reprieve for Kalium’s shareholders on the horizon.

The West understands a deal between KPMG and Sydney-based Bennelong Capital Partners to offload shell of Kalium is set to be finalised by May, following a creditors meeting on Friday.

Bennelong specialises in reviving suspended stocks on the ASX via reverse takeovers or back door listings, which will enable Kalium’s investors to liquidate their stranded shares and realise capital losses to reduce their tax bills.

“When companies go into administration the shares are effectively frozen — it’s a big problem — so we can help facilitate those tax losses for shareholders,” Bennelong Capital Partners boss Steve Nichols told The West.

In October 2021 Kalium produced Australia’s first potash via Beyondie, however the project was plagued with technical issues as the producer endeavoured to ramp up Beyondie towards its 120,000-tonne per annum nameplate capacity.

McGrathNicol fielded a bid from fellow ASX-listed potash play Agrimin seeking to buy the project in September, but that $45m deal disintegrated.

Potash — which is predominantly used as a fertiliser ingredient — has struggled to build momentum as an industry in WA.

--- end of excerpt --- (19-Feb-2024)

https://www.australianmining.com.au/end-of-an-era-for-kalium-lakes/ (August 2023)

End of an era for Kalium Lakes

ALEXANDRA EASTWOOD, August 7.

Image: Kalium Lakes.

Sulphate of potash miner Kalium Lakes has entered into administration, appointing Rob Brauer, Jason Preston and Rob Kirman as receivers and managers.

The three receivers has assume control of the Kalium Lakes operations which are set to continue on while an assessment of sale or recapitalisation options is undertaken.

Cheryl Edwardes, Brent Smoothly, Simon Wandke, Robert Adam and Salvatore Lancuba resigned from their positions as chairperson and non-executive directors following the announcement.

“The strategic process announced by Kalium Lakes on 14 June 2023 is well progressed with wide interest received,” the company said in a statement.

“The receivers will continue the strategic process and immediately pursue the conclusion of a transaction. Further details will be provided as the strategic process concludes.”

Kalium Lakes delivered the first batch of sulphate of potash (SOP) at its Beyondie project in Western Australia in what was believed to be an Australian first in October 2021.

“Kalium Lakes has delivered another major milestone for the Beyondie SOP Project, producing its first SOP seven years after the company was founded in September 2014,” Kalium Lakes then-chief executive officer Rudolph van Niekerk said at the time.

“It has been a remarkable journey to reach this stage and we thank everyone who has contributed to the success of the project during the past seven years, particularly our long-term shareholders, management team and employees.”

The administrators will write to creditors to advise of the details of the first meeting of creditors which is expected to be held on 15 August 2023.

--- end of excerpt --- (August 2023)

Sounds like a strange stock to be the most widely held by the free users.

Definitely a bug in the system - if you go into the "Companies" section of the website and toggle "Premium Members" off and on, KLL does NOT show up in that section (the "Companies" tab section), but it DOES show up on the home page as the number one stock (and rising) when you have "Premium" off in the companies section. - as shown below (snapshot taken 5 minutes ago):

How weird! Thanks @Bear77 we'll take a look. I'll also do a review of the active company list and tidy some things up where I can.

Gosh, it's a dog eat dog world. Lots of examples there of shareholder wealth going up in smoke!

@Bear77 We've had a look at this and the situation with KLL is as follows:

There is a non-premium user who holds a bunch of KLL shares that they bought for a few cents each, and for which the last recorded trading price was $7.275, so according to our algorithms, his KLL holdings are worth $1.4 million. This single holding means that KLL is considered as the highest capital weighted holding across the entire userbase, and hence it is considered #1 in the non-premium company ranking. But it never made it into the non-premium index because it stopped trading before the index had a change to buy it, and now the index doesn't even try because we have an index rule that says that the index doesn't try to by stocks that haven't traded in the last 7 days (KLL hasn't traded for 414 days...).

So it's not a bug per se, the system is operating as designed. The real problem is the valuation of KLL at $7.275, which is a fictitious number because no-one would (or could) buy it at that price any more. But it's the only price available.

It will resolve itself when it either re-lists or de-lists.

Fair enough @Strawman - understood. Is that user still active? Because if not, perhaps purge the accounts of those members who haven't had any activity at all for over 12 months? As you say, KLL hasn't traded for over 12 months, and you can't purge it until the trading suspension resolves one way or the other, and while the real value of KLL is either $0 or a damn sight closer to $0 than the last traded price over a year ago, the system should not "guess" the real value, so that has to play out as you have explained. But perhaps a member purge for inactive free site members could be beneficial, particularly if they have created a portfolio and then left the free site and not logged in for over a year. I don't know if that applies to this user, but just saying...

Another option, rather than to delete inactive accounts, would be to ignore them, so you could change the system so that it ignores all user accounts that have been inactive for more than 6 or 12 months when calculating which stocks are the most widely held. That would give a much better representation of the membership's current weightings and what they are keen on.

Actually the system already does this @Bear77: only users that have had some activity in the last 3 months are considered. As it happens, the free user in question was active in June so is still considered active..

Systems design is hard when you're dealing with entities that present all manner of edge cases. It may just be that we have to manually step in when weird things happen.

Speaking of bugs, I've had a bunch of SM cash tied up in 92E which delisted months ago (with a valuation then of about 59c I gather.)

92E was acquired by TSX-listed (Toronto Stock Exchange in Canada listed) ATHA Energy Corp (TSXV: SASK) in a scrip for scrip deal - no cash - so here's the calculation:

1. Date of acquisition implementation: 11 April 2024 - see here: https://www.92energy.com/
2. The deal was 0.5834 New ATHA Shares per 92E share held;
3. ATHA closed on 11th April 2024 @ CA$0.83/share - so 83 Canadian cents per share.
4. The C$/A$ conversion rate on that date was 1.1171 according to https://au.investing.com/currencies/cad-aud-historical-data
5. The A$ price (value in A$) was therefore 0.5834 x $0.83 x 1.1171 = A$0.54 for each 92E share on 11 April 2024. ($0.5409243962)
6. So any outstanding 92E positions on SM could be closed out at 54.09 cents ($0.5409) each.
7. Hope that helps.

That makes it so much easier for me @Bear77 -- THANKYOU!

92E positions know all closed at $0.5409

Can do @edgescape

ASX:MAC has been added

While it is trading below 2c, you can't trade it here on Strawman.com under the trading rules; not sure if that is also used as a filter for database inclusion. If it is, that would explain the absence of RGS here @edgescape .

Additional: No, it doesn't look like it's a filter for database inclusion, as MRR and KRR are both on the Strawman company database and both are trading below 2c. You can call them up, but you can't place a trade (unless it's at over 2c.)

Ah Mrr Minrex resources. Held for a while then got out after lack of progress on their projects in the LFB.

Plus the revolving door of multiple projects and directors

Can't believe it is under 2c now and way below my sell price

hi @edgescape -- for some reason S&P has RGS marked as delisted?

As @Bear77 said, stocks below 2c aren't buyable on Strawman. Although we do a rough kind of volume matching, these stocks can be gamed on SM to yield outsized returns.

I'll see if we can get the company page to load-up.

Actually for RGS There was some news about it on SMH about a merger so wanted to check here if anyone covered this in the past.

Hi @edgescape -- looks like the funds required for the buy order are reliant on your sell order for DTL going through. That has a Sell limit at $9, so will stay pending until we see a close at or above that price (or until you amend it lower).

We treat pending sells as available cash so you can sell and buy on the same day, but things will get stuck if the limit conditions arent all met. I tend to place the limits well inside the current market price if i want to ensure a trade goes through (remember, a limit order only specifies the max/min you will pay/accept -- we'll always do it at a better price if the actual close is better)

My mistake again!

Didn't realise the hold up

Will find something else to free up.

Thanks again @Strawman