Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Got until 4.30
Well, towards the end of August is very much here.
Nothing overly transparent where Mxc, Smith and Wheeler are involved.
Leaving the results to the very last minute - not impressed - what’s so complicated here??
They're busy adding extra polish to the turd... and have taken out a loan from MXC to pay for some glitter.
They might have got 3 months as I read this - but applied for two.
https://www.bclplaw.com/en-GB/insights/fca-and-aim-regulation-removal-of-temporary-relaxations.html
Oh well another 4 weeks then
Yea its says up to two months but why put by the end of July if they weren't going to make that deadline? Hope to hear on the De swap too.
Looks like an after hours update at this rate - although the company has until the end of August to issue the results, they did suggest late July - perhaps they want to release other news at the same time???
Results tomorrow or a rns to say another delay. but you would of thought they would of put that out today if that was the case.
I really was hoping that “towards the end of July” for the results did not translate into the very last minute!!! If there is another issue they should update the markets!
but look at the buys afterwards
1.00 462,433 Sell* 1.00 1.60 4,624 that is why
Another decent day of trading volume - most of the trades appear to be buys so no idea why the share price is down!
When you said you ‘cut your losses’ I thought you’d sold - but obviously I misunderstood.
I am curious how this plays out - I was invested in 2018 and backed the Open Offer, like many other shareholders at 2.5p thinking the ship could be turned around. It has been dead money for 4 years.
There was a line in the interim report in September 2021 about allowing the company ..".to prosper for ALL shareholders" that gave me heart that perhaps the major shareholders/debtholders and the company might reach a solution that is at least partially fair on the smaller shareholders who also helped out in 2018 in the shambles that had taken place.
Like I say, at the end of the day, it was a terrible investment on my part, but I remain with my holding waiting to see what happens and whether there is any honour in the capital structure solution, as undoubtedly the IDE business in its current format offers a good service to some good clients and makes money.
It crossed my mind whether MXC might push for a de-list but offer a tender to people like me at a small premium to 2.5p as a gesture.
Various options but MXC hold the cards as they put the most into the bail out in terms of debt and equity.
I agree. Hard to see it as coincidental.
Agree with your assessment: I just can’t remember a day when IDE had 55 trades and perhaps at least some update on the debt can be expected when results are issued shortly..
You got to be realistic here, haven’t you? Reality is the loan note debt has to be repaid, plus the interest being rolled up and payable end of term, on current arrangements. Fat chance of that on what they’re telling us, despite the improving trading position of which they speak. It won’t disappear, it’ll be shifted. Or some of it.
That started with Kestrel, at 2.5p. An amount shifted into equity. I was thinking, and hopeful, that that would follow through - fish and fowl sort of thing, with Kestrel having an inside track. So 2.5p for Mxc? Who hold the preponderance.
But it doesn’t necessarily follow, does it. I note they were intending to have conversations with the loan note holders, then it was they were in conversation with Mxc. Nobody else mentioned.
So the major question for IDE shareholders is, what deal will Smith Mxc strike with Smith IDE, if there is a debt for equity swap. For him, and his personal cash, Mxc is what it’s about.
Results due next week and maybe news on the debt and possible D4E. Still risky of course but sentiment might change if the debt is off the books and an acquisition happens - we will know soon enough (at last)
A dog that makes £3 million EBITDA and major shareholders and can move 50% either way in a day - better than some of those loss making tech and mining shares any day of the week :-))
Why the rise with no news ??
Newbies would do well to stay well away from this dog, all previous rises not sustained, don't get spiked
There’s nothing out since last update. We’re told to anticipate an update end of this month - next week. Any excitement is about todays rash of buying. Which is most unusual on a no news day. Thinking turns to a leak, and buying to a leak of a positive nature.
Just summarising today for anyone attracted.
Previous posts speak to the rest.
Resilient trading and pipeline of orders.