Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Alex, zen would not require your services as they have no intention of completing the deal, bet they back out blaming someone else when they have finished fund raising.. I have a feeling forum know this and are prepared for it, but what their move will be I don’t know.
On week 4 of cocooning, still safe and sound.
“Based on board positons taken to date, Forum RTO an African rare earth/battery metals project into AAOG that could be in production and with some exploration upside“
This is what I think will happen, plenty of opportunities, always able to initially raise cash to do it, can have a low cash input for highly speculative drill hole results. 40% between miton and forum so whatever they want to happen will happen.
Shrewd
Its always been known Licence expires this summer and $2m fee payable to extend it associated
ZEN and Align both made offers knowing this, there may have been others who are still interested? Only Align managed to make a counter at the time as it was over xmas and little time to GM etc.
$2m is peanuts in terms of Djeno scale, even Mengo gives excellent payback for 18 months and steady production after.
Its looking more likely Zen were a holding position with no intent to develop this, leading to this potential end game scenario where in the Licence is sold by AAOG new owners for whatever they can get for it as they have no interest in this, they just wanted the tax loss shell to play with.
So who would buy this licence? horribly, ATOG may be interested - or another group, who knows, this is complex.
Either way, sadly I have given up on the Djeno find ever providing any benefit to AAOG shareholders - any sale of the asset just goes as working capital for Forum.
Its whatever they do next for RTO that is our only chance imo.
Okay, but Tilapia licence not worth a sausage now. It expires in June. Who in their right mind would want to buy it??
Alternate Probable case
Forum place a new CEO on board with a mandate and substantial financial backing from their owners. Further board positions taken to gain a full technical and operational management team.
Previous board removed, company name and office change - new company created.
Based on board positons taken to date, Forum RTO an African rare earth/battery metals project into AAOG that could be in production and with some exploration upside
Scale of new company yet to be known but may be substantial.
Tilapia licence sold to highest bidder.
THat's highly unlikely given that would mean her buying a ticket !!! Unfortunately there's been too many directors on the take and delivering fook all !!!
Unusually perky today?
Absolute Best case (or fantasy?) ? SNPC find $5.3m under the sofa and pay their debt off. atog pay any remaining fees back, directors past and present repay 3/4 of their salary back as they have failed to produce the promises made. SMP say they screwed up, repay half the drill costs, and everyone involved apologises for their incompetence.
Probable case : forum take 2 months and convert the other £100k to take a Total ~29.9% holding.
This becomes an official shell and gets ramped to high heavens
Something happens with talapia, disposal or liquidation and liabilities are somehow removed from The parent company,
Worse case : it drags out for a year while not trading them delisted and forum buy back all shares at a token fee or buys the Lot for £1 off administrators.
Our best possible outcome would be for Sarah Cope to win the euro millions and share her winnings with her long suffering shareholders.
Stay safe.
Okay, let me rephrase the question a tad, Highlander47, what is the absolute best case scenario here?
Cheers.
Alex, what's the absolute best case scenario here for shareholders? We know the worst of course.
Sure. But point being there should be an immediate suspension from trading on the announcement, if it comes.
Presumably we get a confirmation that disposal is completed and an immediate suspension from trading (if approval from minister is given)?