Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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AGM is on the 7th February 2023. Found this on the website. The agenda looks pretty standard, so hopefully we should get an update on the accounts pretty soon and get the suspension removed.
Does anyone understand the RNS?
When is AGM?
Does that mean the accounts have been passed off and the shares will come off suspension soon?
Tried several times this morning to phone the company (on 01903 845 820) but could not get through.
I have to say I too sold out of AGY at around 25p, not because I lost faith but because I knew it would be some time before meaningful trial news. It's a great little company and was going really well, a big shame this has happened. I too had it on my watchlist but when the CFO departed that was the red flag for me.
Hope if comes out of this but my feeling is it may be takenover at a bargain basement price, or...
Todays news is completely unexpected, lost faith on those Aim shares ! I’m glad I sold Agy long ego , but was on my watchlist , was thinking to buy some when it dropped at 11p range ! Thought it’s a solid business , but looks it’s different co today with all the bad news , at what price they will issue shares ? Another 50% discount? They just ruined the business! FCa should investigate scenario like this , how could they drop such a news just before the year end ?
Game over, check mate.
600 quid is normally a decent amount to have a dabble with BUT with suspension guaranteed to happen on the 3rd I wouldn't but then again its not my money or business lol
Taken from the RNS
The partial pause in production follows an internal review of current operating processes and is part of the Group's previously communicated ongoing programme to improve the robustness of its quality systems and build capacity across its manufacturing facilities.
This pause has now led to this need for a raise (all sounds vert muddled and full of BS) plus now they can't complete the accounts on time so suspension is next.
I'd bang the £600 on the fav at the 3.10pm race at Doncaster today.
It will be more fun and probably more profitable haha
Key stats from Stockopedia (usually a reliable source)
£20m cash.
No Debt (-£10m).
£72m sales.
£77m Market Cap.
Okay, they are set to make a loss of £13.8m in 2022, but £20m cash in bank and zero debt.
Did they say why they halted production a few months ago? Is manufacturing still down?
50% spread. Market size is 10,000 so could take a £600 bet??
I agree Mick.
I feel that people are becoming more and more wary (and rightly so) of AIM now with these RNSs being dropped at 8am stating a 85%+ dilution.
Hopefully there will be a time when it all settles down and spikes and falls are less dramatic, this will only happen with some FCA intervention I, I fear though.
With every company really struggling into 2023 (even FTSE 100/250 are reporting drops in profits) its not surprising companies who have 10 times higher losses than actual income and with very little success or reputation go bust.
Neil777,
A very Merry Christmas to you too.
Yes, AIM is a cesspit, one just has to time the lows and sell on the spikes, holding long term is a mug’s game.
Too risky to trade this so I am staying out of it.
I'm sure the holders here are grateful for you two morons coming on to their board and basically laughing at them. Have some decency
I agree MickR
Happy Christmas BTW, hope you're well.
This AIM casino is really becoming a joke at the moment.
Admittedly it's always been a risk but the way they are dropping like flies into suspension/administration or 90% dilution is becoming a real tragedy for investors/traders.
IMO the FCA need to stamp down on AIM as CEOs are getting away with legalised fraud in many cases.
1p.share. another one bites the dust.
Looks like the end.
Who is going to hold this into a guaranteed suspension on the 3rd and with all the bad news previously how will this survive.
Another AIM scam/fiasco
The company has shot itself in both feet. This looks to have been really badly managed.
Looks like people are expecting a placing here given the price movement and announcement today
Very difficult to believe this is almost back to the levels where I bought in, many years ago, around 9p.
The shut down clearly wasn’t planned, so I’m sure that the RNS is only revealing a small part of the story. Very disappointing, and not surprising that the sp has taken a kicking this morning. I fear we’re going to need a lot of good news about the trials before it recovers.
So it was something more sinister. Let’s hope disruption is minimised and we can get back to a normal footing asap
Anyone know why this was cancelled this morning? A simple case of illness/short term unavailability or something structural which meant it wasn't appropriate?
What is the timeline from stage 1 to stage 3 and has the board put a timeline on getting this to market or is it too early (thanks for your help) I’m not invested yet but this is in my town Worthing and was highlighted a year ago but been watching on the sideline as it been slow ?
here's an update from the management:
https://youtu.be/0kD8dwzf7GM
Let's hope this gives us some meaningful exposure in the American markets, and results in some significant buying interest