Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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But the II's know month in advance so can sell before taking up the offer....
The issued shares are Pari pasu (exactly the same as me and you)
That's exactly what they have done this time, and will do every time. IMHO
Quick question. For these II's who are taking up the 0.35 additional shares, is there a time limit that they are required to hold them before selling ?
The reason i ask is say for example if the share price got up to say 0.70 and there was a further share issue and dilution to capital raise again in 1 year, would these current buyers be able to offload these purchased shares coming up to that, to subsequently buy in again with any relevent discount at the time ?
Ta for any knowledge anyone can provide on this.
Tango and Lottie, you both make very good points. Lottie, you clearly have a lot of knowledge from working in the City and I thank you for sharing it. If this placing puts us in a better position for the future, then so be it...
DH2.
Tango. I agree, it would appear illogical but if the ML gets the go ahead and you want to finance such a huge project without diluting it, as expressed previously, you need to get II involved. This is a way of throwing some corn on the ground to get them on the share register and buying into the long term prospects, funding requirements, of what will hopefully be a significant company. I don't like dilution when prospects for significant growth exist but I CAN see the logic. I respect your opinion and hope we are both rewarded with a positive outcome.
Also- If JW thought that the ML was imminent he would of been a total idiot to raise now, I don't know what the real reason is but do try to apply logic to things, and if the ML was imminent this raise would be totally illogical.
Lottie- again we are reading between the lines, rather than having clear guidance from the BOD, I am sure JW would like us to think we will get the £billions contracts with the MOD, Until we start getting clear communication and updates my stance will remain hopeful but sceptical.
I will be surprised if it stays above the issue price of 0.035.
Just a thought. To have the right to buy shares in the rights issue (2nd tranche) you have to be a registered shareholder. This is a clever move by the board to get new shareholders in via the 1st tranche open to new, not existing shareholders. If the ML gets agreed between now and 27th July, existing shareholders will be able to buy shares (guaranteed at a ratio to existing holding) at what will be a huge discount. This could be a serious reason to be a holder. I cannot believe the board would take this route if they had an ounce of integrity and thought the ML would fail.
Don't disagree with time to deliver lets see am holding and adding a bit more ,risk rewards i think
Regarding the MOD, he had to drop something out to get support, I did note the total lack of anything to do with IM or the ML.
Cookie- for some there is no risk- sold 200 mill for 0.40 to buy them back at 0.035, so raising is not a risk at all to the investors.
To raise that sort of money in current market conditions is very good indeed,shows confidence in where they are going with everything and I noted mod navy contracts mentioned in rns ,hint hint .....
Am I the only one that isn't too disgruntled by this? I'm a holder of 4 years so been through many placings, only got a million at an average of 0.67...but this is more of a positive fund raise as opposed to the prior (we need money to keep the heating on) type affairs...growing pains and I'm bullish.