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When someone's got you by the cojones, there's not a lot you can do about it. Just try and not squirm too much and hope that their grip diminishes over time. That's why you need to employ hedging strategies on AIM and/or other 'markets' to neutralize any potential losses, and by that, I don't mean shorting stocks either. Having said that, you can't win 'em all, and sometimes you've got to take a loss. Still, I'm moderately optimistic about the new Cradle Arc, but like you, wish there was a bit more on the newsflow front, keeping us up to speed. We can live in hope.
I suspect the 2017 accounts will NEVER be voted on and/or approved by shareholders. As by the time they are audited there will be an entirely different Company & shareholder base in place. How highly convenient, eh?
if the 2016 Accounts have been approved by s/holders - it's been by a very underhand method. How many s/holders turned up for that 'fait accompli' GM???? One, wasn't it?? LOL.
The important & relevant point is the historic 2016 accounts haven't been approved, as I understand it, by those who own the Company ie the shareholders. Mind you, the accounts that will make for FAR more interesting scrutiny is last years accounts ie 2017. Still don't follow IF they have been in full production & stockpiling for past 8 months why there is now the further need for fundraising for working capital. If you believe that an Open Offer is solely some form of generous belated Xmas present for shareholders benefit at a reduced or discounted price then I think you are living with the fairies
if one checks the ALO site, the 2016 accounts are available.
The accounts were available to view alongside the Whitewash Circular, prior to the general meeting which was convened for the Mowana transaction.There was an option to receive the annual report in the voting form if one chose to partake in the general meeting. Nevertheless, I'd imagine the accounts will be available to view when the Cradle Arc site is online.
That's a libelous suggestion. You signed off the audited accounts didn't you? Oh no, I forgot, the ALO accounts never saw the light of day, did they? The Open Offer will generate funds to probably allow some of them to participate in the same Open Offer. Shares for free. Nice perk. Is it a bird? Is it a plane? Is it another typical AIM scam?
How can you say all will be forgotten. Rotten money guzzling management who treat us like brainless mushrooms?
i completely understand that there have many hurdles to jump. i do believe that this will come good. but why set deadlines that are never going to be met? this is my frustration. Once we relist etc, all will be forgotton.
Another agreeer? The board stinks. What will we be left holding?
I agree GS but my frustration is the number of deadlines that are missed or pushed back - one has to question the credibility of the board. I for one have little faith left in anything they tell us.
I believed the 10th January admission date was too ambitious. The new date provides them with the appropriate time to perform the Open Offer.
the RNS at the end of January will read - "expected admission end February". i think we will relist once we have mined all the minerals.
Not unexpected but not what I wanted to read. 10p a share? Offer soon?
Expected admission date now "Late January": https://www.investegate.co.uk/aim/rns/schedule-1-update---cradle-arc-plc/201801050800020232B/
London stock Exch.. already has published their name for admission , so not long now..
My shares are lodged with Lloyds Bank Online Direct Investments and are already showing as Cradle Arc instead of Alecto and at the consolidated quantity.
The quantum and mechanics of the Open Offer have yet to be disclosed therefore this is a rough guide: (1) Determine your average and number of shares after 300:1 consolidation (2) As part of the Open Offer, existing shareholders will be entitled to purchased 1.6 new shares per 1 currently owned (rough estimate) (3) Each new share will cost 10p, therefore deduce new capital investment required to purchase all shares in your entitlement (4) Add up total capital invested (pre and post Open Offer) and add up total shareholding (pre and post Open Offer) (5) Divide total capital by total shareholding to find new average.
Waiting .....
This may have been covered before so apologies if so. I had 4M ALO shares which have now been consolidated to 13333. Will they be changed to Cradle Arc shares? Will they be worth anything after January 10th? I've had nothing from Alecto or my broker about past, present or future activity despite writing several times to each. I've just been ignored. Is that everyone's experience too? Alecto's website talks about shareholders but not specifically the interest of existing ones. Does anyone know for sure what the position is for existing ALO holders?
The Open Offer - if it materialises - will be performed at 10p with an associated �20mill Mcap. Cradle Arc own a 60% equity stake in the Mowana Mine which, according to the research report, has started to produce at nameplate capacity since Dec 2017. The mine is now producing 12ktpa of copper, of which 7.2ktpa is attributable to Cradle Arc. At $3.20/lb, the attributable EBITDA to Cradle Arc is $22mill per annum. Using a 6x multiple, Cradle Arc's intrinsic value is $132mill or �100mill, using this metric. In my opinion, at the current copper price, the intrinsic value of Cradle Arc stands between �80-100mill. There is a >300% upside in the share price from the Open Offer price.
(or whatever other nick he uses now) will tell you. There was an Open Offer at 1p with PGD in late Nov. For most of Dec you could buy on the open market at less than 1p.
I understand the relevance of the Open Offer being for working capital per se. Surely it doesn't matter what it's for (within reason). I've seen several AIM companies have Placements and Open Offers to raise funds only to find shortly afterwards you could purchase shares in that Company on the open market for less. What about the longstanding loyal ALO shareholder who can't participate in any Open Offer? You could argue they are being shafted with the inevitable dilution via an Open Offer (especially IF there is stock/material available that could be converted into needed cash & working capital). Just saying.
The funds will be used for working capital purposes. In addition, the board have rightly decided to raise a portion of the funds via an Open Offer in order to allow existing shareholders to average down their holdings.