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If they have been stockpiling the copper concentrate and no longer selling it to Fujax for past 8 months why not cash in the material now? I appreciate the process may or may not be getting upgraded and become more economical to produce, but physical material is physical stock, surely? And cash equivalent. Unless you are saying there's been NO production. As opposed to now fundraising by way of more shares in circulation and dilution via an Open Offer? Not sure I follow the logic of that.
"They stated back in April that they were in full production and selling for income. What happened to that revenue?" Since then they have said they are stockpiling it till the new process is up and running giving them higher quality product = more cash.
You may have interpreted slightly differently to intended... "Expected size of offer (M): 2.4" That is the size of offer TO BE RAISED.
On LS EX,it says funds raised 2,4 million ...
Re revenue ... I think they’ve been stockpiling haven’t they ? I’m just pleased we are de listing and very excited that I know people are waiting to buy in
Maybe. Just seems a tad odd to me. They either need the funds from an OO or they don't. They stated back in April that they were in full production and selling for income. What happened to that revenue?
They promised an offer for exixting shareholders in writing. I think they will keep to it. Maybeeasier to wait for relisting so they can provide open offer through an RNS notification rather than a circular?
My bet then is a relist on the 10th. No Open Offer. Placement for the funds needed has likely already been organised. Seems cart before horse if they relist THEN have an OO. No?
LSE now have a readmission document for Cradle Arc https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/new-and-recent-issues/new-recent-issue-details.html?issueId=9313
I've done some research and looked at AIM IPO's dating back to 2017. It appears as though delays of up to 1-2 weeks (sometimes more) is pretty common.
....... or neither of course!!!
One thing's for certain.......... with only 5 working days to go to the 10th............. there's no way they can announce + administer + conclude an Open Offer AND relist on the 10th. There's either going to be no Open Offer OR no relist on the 10th
The board have publicly stated their intention to raise capital via an open offer on multiple occassions. If this is to materialise, I suspect a slight delay to the timetable. Let’s see.
Typically, the Open Offer period lasts for two weeks. Cradle have yet to announce an Open Offer and admission is expected on the 10th Jan. Leaving it late....
So it has to rise by 40pc to ge back to that level?
Copper Returns... 2013: -7% 2014: -17% 2015: -25% 2016: +17% 2017: +32% At $3.30 today, Copper is 29% below its all-time high of $4.63 from Feb 2011.
Date for releasing ???
I've tried to link to the broker analysis before but LSE corrupts the address (competitor I suppose). If you go to their website and click on Research, then Company Research Notes, Cradle Arc are on the second page. Beaufort give a forecast breakdown of the shares at re-admission. As far as I can tell, part of the deal is that however many shares are issued prior to admission, the vendors/concert party have to end up with 60%. I'm not sure whether that will include the shares PIs are enabled to buy, I suspect that offer will be after the listing- just based on time- in that case the 60% rule may no longer apply. But just my opinion, we will know soon enough.
Do you have a link to beau forts broker analysis?
Thanks. Hadn't seen that. I can't see where the 200 mill shares are coming from with a raise of £2.4mill. With 67 mill (?) at last count, they'd be issuing 135 mill more shares somewhere near 2p. Just a rough comparison to 'shares not in public hands' & the vendors holdings also wouldn't add up.
10 th January it is then I'll be adding into my isa
Hi Spec, I don't know anything outside of what Cradle Arc have told us. I was looking at the communication of 22 December which showed 202m shares at re-listing with a capital raise of £2.4m, I'll attach the link and hope LSE don't chew the address up! I was trying to reconcile this with Beaufort Securities' 8 November analysis of the number of shares. As the joint house broker, I would expect them to be well informed. Things have changed a bit but we will know soon enough what the offer to shareholders is, and there should be more clarification. https://www.investegate.co.uk/aim/rns/schedule-one---cradle-arc-plc/201712220845011926A/
My last post should have said "my holding will be worth £1,333".
Hi, a poster on iii (Sat 17:36 BOWOOD) said... "So it's 10 January for the relist with a broker forecast of 50p - 80p but with the copper price moving ahead a higher opening price could be on the cards. Will be looking to top up at anything below £1". I had 2m shares which have been converted to 6666. I'm showing a loss of £1,800 on iii as that's what they were worth before the delisting. Some people on this forum say they will relist at 20p which means my holding will be worth £1,3333 which I'd happily take as its taken ages to sort all of this out. With the copper price rising, the big question is, what price do people see Cradle Arch shares realistically getting too in the near term? Appreciate any feedback.
Blomberg reporting: Copper - 4 year high - $7,290