g-w, there comes a point mate where enough is enough and this sp has been battered down continuously for too long and is well overdue a retrace IMO - I guess only time will tell and it's only about 25% of my overall portfolio so can afford to lose it if the worst happens (i.e. we go bust, which is v unlikely IMO!) :-)
Cheers for your concern though, hope CRND comes good soon as I have a lot tied up there too!
We need to attract a glut of holders here to get shares out of circulation. Everyone has their own startegy and i have no problem with traders. Just need some good news flow and investors to nestle in and things will start to look better.
That's a wonderful summary AF. Certainly it would be a great vote of confidence if our existing major shareholders were to put their hands in their pockets but Areva don't seem to be too willing at the minute and it may well be Darwin who put their hands up. Or of course the Asian sources mentioned in the 19th Nov RNS. Hope we don't have too long to wait for news on funding and other issues. MS2
Talking of Darwin, and remembering I do not like the way operate one bit!
When fte found this Slovakian asset the sector was on its arse (and still is), No-one would financially support the BOD to proceed with the purchase, No investors on the side lines waiting to jump as a white knight to help and that left us with options limited if we were to proceed to purchase the project/JV.
Its very easy to sit and type that Darwin are bad, and also easy to write about what a great and valuable asset we now have. However, it would not have happened had the BOD not taken the only option left to raise the money required to proceed and got Darwin on board! We should really thank them for their part in lending the money!! After all it was the previous debt from the eff that mainly screwed us over on conversion.
Looking forward its clear further investment/funding will be required and investors need to prepare themselves for that fact, dilution is a necessity to raise money when a company needs to grow, the ratio of asset value to dilution needs to stack up and im sure with the projected npv from Slovakia it does just that. Now where/who the money comes from actually doesn’t matter, Asian investors, Brokers, and actually even Darwin if the terms are good. It will most likely come in the form of a CLN anyway no matter where from. What we really need is for our major shareholders to stump up but with the market in turmoil still and the uranium sectors grass roots still only fledglings I just cant see it yet! Although I’m very confident that the whole nuclear industry is going to rebound in 2015 (boosted by the re-election of Shinzo Abe) and significant non dilutory investment will start to flow!!
If you looking to for a quick buck you may make it on an upgrade announcement if you quick and lucky, however this should be a great medium term hold here from this level as activities in Slovakia start to ramp up towards eventual production.
The BOD have managed to keep this going on a shoe string and managed to purchase a project with an NPV of £276 million (This will be need recalculated once JORC upgrade is complete and using current prices) for £4 million.
I think it's fair to say that Darwin got the better of the recent deal. However that is probably down to pretty shrewd negotiation on their part. I have no idea if we ever intend to get involved with Darwin again but they are certainly 1-0 up at half time. We may have to wait a long time for the equaliser but I hope comes!!
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