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and most of them stink
Oh you beat me to it! you win...……………...
TDT - Opinions are like arzze holes, everybody's got one. Just some are much bigger than others!
your condolences are much appreciated if insincere.
I'm not as you say an attention seeker (hence limited posts) unlike yourself who seems intent on provoking a reaction to your posts (which disappointingly I took the bait). I agree you are entitled to your opinion but not at the expense of assuming everyone on here has significantly less knowledge and acumen than yourself. As for SXX my money my choice, not bitter, just disappointed and sorry for lots of real hardworking grafters who stand to lose a lifetime of cash (and yes I know it was their risk)
Good luck with your investments and I hope they all pay dividends
Where did you come from! you pedantic self important know it all. A member less than two weeks with 98 posts - says it all
''However notice you got plenty of likes which sort of makes my point about a lot of posters on here''
Gula, that was the whole point of my example with LION. A stock gets cancelled and then an application gets made to re-list (should the company wish to re-list that is). It’s not a complex process.
Anyway, enough talk of cancellations as the likelihood of us staying suspended for 6 months is quite slim anyway. We could effectively re-commence trading again tomorrow and the actual terms CITIC be bought onboard disclosed.
Sorry,
First para should have read ...."invested here and in Greatland Gold immediately after the resignation...... Hit the delete key in error! Apologies
Gulag,
I am a (long) retired company secretary, invested here immediately after the resignation of the odious Andrew Bell. After ruining RRR and RGM, he should never be trusted again.
In my professional capacity I have been aware of several extensions granted to companies for a variety of reasons; some revolved around additional to/jv bids arising towards the end of the 6-month period, necessitating due diligence work beyond the original 6-month timescale. Your binary view of the Aim regulations is, I'm afraid, rather too simplistic. The regulations are in place to protect both the companies and their shareholders, but not to stifle business. And before you ask, no, I will not divulge the companies as it would be both inappropriate and unprofessional to do so.
I admire your tenacity, but while in no way being patronising, you could open your mind to the views - and experiences - of others.
you are starting to realise then,GOING TO THE WALL.
be nice to hear or see anything
Would be nice to see a flanks approval RNS whilst waiting for bigger news :-)
Gla
Wow, wasn’t expecting such a debate on this post!
Gula, it sounds like you really don’t agree with my post! However, I was trying to avoid putting ‘facts’ out by using ‘unlikely’ and similar terms as no one, possibly not even the BOD, know the finite outcome as this stage.
The ‘fact’ that it sounds like you’re hung-up on is;
‘We could be here for days, weeks, months and potentially even in to next year’
Same again, the ‘could’ isn’t factual and yes, under Rule 41 AIM securities after 6 months of suspension, stocks will be delisted. However, appeals can be made for an EOT or a re-application made to list again in the future. I’ll use LION as an example, they suspended 18 months ago and are looking at re-listing again this year.
Gulagescapee, please see below -
This company is fully funded and producing it has a stock suspension due to a technicality, not that it about to go under and to the wall.
Please see the last line which states an extension maybe given, you posted half truth.
What happens to your shares when the company has been suspended?
In such circumstances, you remain a shareholder with all of the rights of a shareholder under company law, but you will be unable to execute or place any trades for the securities of the company in question.
Nevertheless, the suspended company must still comply with all listing rules applicable to it. This means that shareholders should continue to receive announcements on developments that require announcement under these rules, so you shouldn’t be left completely in the dark. In addition, once the circumstances leading to the suspension have been resolved or clarified sufficiently, then a notification to the market is immediately required.
Finally, when it comes to AIM, should the securities of any company be suspended for six months, the securities will be be cancelled from trading unless an extension has been granted.
All the best
Gulag
Company have stated in presentations full production by 2020..., hard to do without a mine
Not really increasing shareholder value to delay until 2027...
Sigh
gulag, you may well be a decent guy at heart but why the constant bashing of everyone’s posts that they take the time to write. If that’s their opinion then let them have it. Moneymaker didn’t post anything malicious or blatantly controversial so why the need to pull him up in such harsh terms. Try and understand others and stop trying to be the font of all knowledge. GL to you
If business as usual they need to trigger the EPC asap
Gulagescapee, in all fairness Moneymaker posted a very good example of the reason behind the suspension that many here seem not to fully understand at the moment, and my I clarifiy one point, the six month rule that you mention can in fact be extended at the company's request as this company is a viable concern and not in any danger of going to wall. All the best.
Great series of posts guys. Really nice to read logic rather than bile or fantastical supposition.
One thing that does spring to mind - what about PDAC? Shoot me down if I’m wrong, but with the business attending this, won’t it be hard for them not to announce at least some basics prior, or they are going to have to be on red alert when presenting/networking in such a public forum not to let the cat out of the bag? Are we likely to get at least the basics of the situation prior to Sunday?
Happy, of course, to wait and be patient. It just seems a bulkhead (to reference Tilly’s Galleon) that may need to be addressed.
GLA
Good morning Moneymaker, great post there sir, it explains the reasons behind this suspension in much greater detail so everyone can understand the real importance of this company lockdown and why we all have advocated it as a good sign and nothing to be concerned with at this time.
Sit back and enjoy the ride on Tilly's gallion along with all its ship mates.
This new journey has only just begun .....:-)
Great post moneymaker. Plus we've had James Nieuwenhuys onboard since Nov.
My my a sensible post at last! If anyone contradicts this post then they are simply idiotic. Let’s hope this shuts all the nasty jealous people up who are trying to spoil what could be the biggest increase in AIM history or at least a nice windfall to all us Investors,
Well Moneymaker
People really do need to stop worrying (unless they’ve invested more than they can afford to lose, which is the cardinal sin of investing) and go back to their normal lives.
CITIC were on board months ago (albeit not formerly engaged) working on a deal behind the scenes. The sp had jumped from 0.5p up to 7p on no actual news, just speculation. There’s been very high numbers spat out about our sale price and the market was getting volatile off the back of no news.
We have a huge asset worth a large amount of money (even without the flanks as that still hasn’t been confirmed). It’s obvious negotiations are taking place and we may / may not have already engaged CITIC formerly already. The reason for the suspension is that anything that may materially affect the sp has to be RNS’d. If trading is suspended, updates do not have to be provided. An example being if an offer came in, this has to be publicised and could severely reduce you negotiating positions with other parties. One party could put an offer in for us for $500 million, we would then have to publicise the information. Party number 2 will definitely not be offering $2 billion if he knows what else is on the table. If there was only one interested party or offers were going to be similar in nature trading wouldn’t have been suspended. Considering here we may potentially receive an offer of £1/share (which would shoot us up to near that value), we may end up accepting an offer of a nothing other than a JV with a free carry to production (which would drop us potentially back to lower than 10p).
It’s unlikely that we’ll go back on the market at all, unless we do indeed enter into a JV. The most likely outcome is a couple of offers come in, a general meeting will then be held to vote on acceptance (which will get passed).
We could be here for days, weeks, months and potentially even in to next year. Worrying for this amount of time isn’t heathy. Just remember the fundamentals, we have billions of dollars of materials in situ (even without the flanks). If no sale emerges and we don’t get the flanks, who cares, we’re still worth considerably more than the last share price.
Last point to note, don’t listen to any doom & gloomers, they are just trolling you and feeding off any worrying they can sense. So stop worrying and sit patiently for the good news coming our way! :)