Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Placing completed at 45p for £3.25m
Looks good news to me. Expect SP to follow suit.
Intel is holder wanted out today and has now gone.
Should rise from here but not in myself. Gl.
That is great, but how did the margins collapse completely? They say without investment EBIDTA margin would be in high single digit in 2026. So for 50m revenue it would be less than 5m EBIDTA.
"Since it was founded, the business has been profitable every year with revenues rising by 43% compound over the past two years to £21.9mln. Operating profits in the year to March 2019 were £9.4mln while the amount of currency it handled rose to £10.8bn from £7.9bn." Thit is from 2019.
Far too cheap. I'm in.
Yes, from "certain" large shareholders, not all. To be clear, i'm a buyer here. Either the placing will get underwritten at about this level so their will be a relief rally once announced. Or, it will be pulled and management will find a way to push it as a positive somehow...
From the RNS: "The Company has received indicative support for the Fundraising from certain of its largest shareholders. All of the Directors have also indicated they will participate in the Fundraising."
Yes, wouldn't be surprised if a couple of larger shareholders (Rockwood poss) didn't support the placing, hence why the fall today as they are clearly not in agreement with the direction of the company. I think once they clear then this should recover. Might be a little but of volatility until the placing is underwritten
Am invested in alpha, who are doing very well but have has my eye on Argentex for a while and glad I held off.
Zebbo, would you please mind to provide some rationale to your thinking regarding a subscription based model in comparison to a transactional fee. I’m not seeing the methodology behind it.
Thanks
Probably a long opportunity coming soon with the shares down 21%.
Not long yet but will keep a close eye on this
Got to be honest I am 50k down, but have been buying a few more. Having done some due diligence and having parked emotion at the door, I think the odds are in favour of a turn around. So aspects of the strategy I like. Moving away from transactional to a subscription based service, is the way to go
Or Rockwood still selling.....
Cheers Dartron, Yes not much goes to plan quite often for me. It's kind of how markets are and the reality of investing raw.
In a few months time you might think 'I wish I had really loaded up', but we won't know until then. I can see why you bought and normally I would think yes a placing at 45p when I can buy the stock lower on the market, but the market speaks so I wonder if the placing will even be taken up or maybe only partly and then where would that leave the company with it's ambitions?
But anyway hope it turns out great and maybe I will buy myself on the spur of the moment.
Volume for the day is only 2.8M. A lot of that is people trading, I sold at 45 this morning. So I don't read as much in to 'The Market' as others on here. As I said the placing is small - 10%. So its not much dilution. In reality, there wont be many shares that trade below 45p over the coming days. A bit of PR to explain the strategy would help.
Nice chunky buys just gone through. This should bounce back to placing price or 40s from here
Yeah, didnt go to plan. But from observing other placings, I still think this will be back to 45p fairly soon.
I bought some now at 36.5p. But no more!!!!!
" Easy 20% on offer today."
Did you mean easy 20% down? Anyway something strange about this placing and how the market has reacted to push the price lower? Normally it would have set a floor temporarily at least.
Companies are good at making from Investors and not often good at making money from their products/services for their investors.
Is it possible the fundraising itself or at least the retail offer will fail ?
The market is speaking. 13% down now and I can see it sinking a lot more. The back story about the fundraising just stinks.
70% share price collapse in 12 months is nothing to be proud of. Who can honestly say this is well managed and the BOD are providing shareholder value?
Maybe so but after residing over a 60% fall in the share price the trust isn't there anymore, why should we believe the reasoning
If you read the full results you will understand what the funding is for :-)
For me this is a solid reset. If anyone has done any research you will see Jim's got a good track record of realising value. In addition the move away from transactional work is a good news IMO
O Prosecco. Perhaps the other one is the Spanish version
Neither do they! A new banking platform? I thought they already spent a shareholder fortune upgrading. Looks like they are chasing a train that left the station 2 years ago. The original founder leaving with Covid and selling all his shares on the open market told me everything I didnt want to know about this company. An utter disgrace. Champaign Charlie will definitely be on Preseco for the rest of his natural. Thoroughly deserves it
Took a load at 41p. Regardless of what you think of this company, the placing is only 10% new shares. So in theory should get back above 45p fairly quickly. Maybe even 50p. Easy 20% on offer today.
A placing?? The last thing expected. We've been told how profitable and cash-generative AGFX is and the full year results, also released today, say the company has £18m in the bank as at 31/12/23. If that isn't enough to "spend on growth" then I'm seriously doubting AGFX's business model. Damn, I keep picking lemon companies.
Sold out on the fall and glad i did, i'll be staying out this time i have no idea what they're doing
Same. Dont understand why they aren't using cash in bank for funding of whatever it is they want to do with it, instead of diluting us.