Lades - "Colombia currently would be £1.5 million as per offer received"
The guaranteed parts of the currently proposed offer are $2.5m + $1.5m less 7% commission fees. So that's $3.72m in total. MFP I believe owes RRR approx $2.5m for the outstanding loan. Take that away and it leaves $1.22m which at today's rates equates to just £734K. Peanuts. (please check my calcs in case of error)
Lades - "Greenland -- No value at moment but was £20 million at one point"
Nonsense. You can't place a valuation on an asset based on an offer that didn't complete. If I offer £10m for your house but don't actually go through with it does that make it worth £10m??! An asset is worth only what someone will pay for it. Currently no-one is paying anything for it. Some posters such as Omar on II speculate that it will stay that way until ore prices recover.
The same goes for JMS assets. You won't know how much our JMS shares are worth in a private sale until they are actually sold.
IMO nothing will happen here until the company agrees to stop issuing shares or until the BOD change, just my view.
This is another imponderable, what is RRR really worth ?
Well, it's difficult to put a figure on JMS due to now being private, however £2.5 millon + would be a safe calculation I reckon.
Colombia currently would be £1.5 million as per offer received.
Greenland -- No value at moment but was £20 million at one point. Kenya -- Who knows, Radio silence. IC -- Pretty worthless at moment as very early stage.
So, what does this tell us ?
Well, it tells me that Greenland, Kenya, IC or RSL are going to have to really come up trumps to get us valued above £5 or £6 million.
For those of us who don't understand the dilution that we've had and the terrible effects, well let's take a target sp of 0.60.
In order to achieve an SP of 0.60 we would require to support a company valuation of around £13 million, now realistically what is going to support this ?
I keep reading that we are "ridiculously undervalued", "due a massive re-rate" etc, etc, however I think we need to understand that our shares in issue have doubled since last year and in the meantime we've had the double whammy of the Iron Ore and Gold prices crashing.
I seriously hope and pray that something can be done with either or Kenya or Greenland but we need AB to come out and give us and the wider market direction for the future and aspirations of this company, as currently things are very, very, bleak, whatever way you try and dress it up ......................
Nice one and GL... Plenty of ops out there currently... Indices about to correct downwards and gold/silver upwards, we need to be careful about oil prices and Ukraine:Russia, if they go up too fast, we will see a major crash on a macro level... All cyclical though as you know...
Even so, AB's total holding in his own company is a mere 0.52%. To me it seems a very small percentage and doesn't really show much confidence at all. Over 2 BILLION shares in issue and the chairman only owns just over 10m of them.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.