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Yes they have their heads screwed on and r looking for the best for all of us.
keep.the faith
dvharrison,
You mention the price drop over 6 weeks, but how about 8 weeks ago when you were trying to load up at below 0.6p and 3 months ago when the price hit 0.5p.
The price has dropped since the New Year as it spiked up towards the quarterly Cobre Sales RNS , dropped as soon as that was released (no change there with the traders we have here). It moved back up to fill the gap and then started back down to where it started the rise from (around 0.6p), it was steady there until the panic in the markets this week with Coronavirus and the MMs have dutifully moved it down with the rest of the market.
Not sure the last 6 weeks fall can be any different from the previous few weeks rise, which was also on no news.
First, the share-price drop is in itself a consequence of the mystical arts of AIM's MMs - but if you believe that this market functions seamlessly and perfectly in valuing its listed companies in respect of their true value, then I applaud you.
Second, silence is the answer when no notable news exists to report to the market; the payment was made to NAE, in Jan - that much was clear: if you bothered to look at the payment schedule, published in one of last year's RNSes, then you would have noticed it; however, had it been missed, it would have been reported to the market: it would have constituted a failed obligation. Again, if you read the RNSes, you might be able to discern that money should be available for April's payment.
Third, even though the funding negotiations started, a while ago, the time taken between then and now - and despite being told they were at an advanced stage - would not necessarily equate to an imminent conclusion: such talks inherently comprise many details to delineate, resolve, and finalise; palatable compromises by all parties; and a deal whereby all sides feel they commercially benefit; and, moreover, they are taking place in a geopolitically uncertain climate.
Fourth, previous RNSes declare that NAE exhibit a flexibility to negotiate an extended timeline for payments.
How about the share price drop by 40% in 6 weeks. That's materially significant to all shareholders. Evidently the bod are yet again quiet when things are not as rosy as their podcasts try and make out. Silence is not the answer. Truthful updates on the situation of the business are. Did we make the payment to NAE in Jan? They let us know that every time previously, do we have the cash to make the April payment? Have the negotiations progressed regarding funding? Are NAE going to be issued shares to the tune of 1m Aussie dollars? Anything they say in a podcast is heresay RNS must be factual.
They can update us when they have materially significant news.
trout, I think you've nicely summed up why the share price is down over 40% in the last 6 weeks! We'll just continue sitting here twiddling our thumbs until the BoD decide to update us...
Not sure we need an update on any of the above, cash position gets reported alongside Cobre sales every quarter (far better than most companies update cash position to PIs), arbitration will happen when it happens they can't report on anything if there is nothing new, PEPR submission, we were told would go in after Australia day and as we have had no RNS to say different then it did, the Company expect it to tale about 3 months, I think it could be less than that, but until it it is finalised by the regulatory body the Company cannot preempt anything. What is going to happen to Redmoor final payment, we have been told that NAE would be flexible and I could see a deal thrashed out that extends the timeline for extra interest on the debt. Last time they gave a plan it went wrong and they got pilloried so I don't expect them to give anything but a basic plan with very little detail, which of course will allow some to keep nipping away at it and encourage negativity...
Not much to ask for! lol
Need an update on cash position, arbitration, pepr submission and what is going to happen to Redmoor final payment. A plan for the next 12 months wouldn't go a miss. Let's hope it's better than crossing fingers for a windfall from arbitration or placing at 0.3p
We don't need an update on Cobre, last years RNS was very clear it will just roll over.
Following on I've contacted PW .
He expects an update shortly given that the rollover of Cobre access is due around this time -
Any other updates will be covered by RNS as per usual. Fingers crossed for strategic minerals .