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Some will sell on opening and I believe there will be people ready to scoop them up
Just read back & saw your posts. What do you know that isn't on ALO's website? Last I saw we had 67 mill shares in issue & are raising £5mill?
fundraise coming on IPO but current approximate structure of shares for anyone interested ALO shares 17.5 mill plus warrants. Current shares in Issue of new comp 67mill. Current value of Cradle Arc (new comp), £13.5 mill. Keep some cash ready if inclined as current shareholders may have a chance to buy at the approximate fundraising price of around 20p.
20p post consolidation I believe & according to ALO's website. 300-1 consolidation.
They stated they were selling it to their offtake partner Fujax Minerals & Energy Ltd. Did that practice stop? Mind you with no published accounts on show for soooooooo long.......................
They have it stockpiled in 2 tonne bags as far as I understand
3.25$/lb Business plan established with 2.50$
they continued on with the full production they announced back in April? If so, what's happened to all the saleable concentrate? "Alecto Minerals plc (AIM: ALO), the African-focused gold and copper exploration and development company, is pleased to announce that production is now ongoing on a full-time basis at the Mowana Copper Mine in Botswana (“Mowana” or the “Project”) following completion of the first blast on 29 April 2017 and a successful trial period, which saw the Company produce saleable concentrate up to 28% copper ("Cu")."
Thanks zapsnap Cradle Arc (formerly Alecto Minerals) – 10p (post consolidation re-list price) Cradle Arc (formerly Alecto Minerals) has been suspended for several months now. We expect the company to return to the market in the first half of January and will be releasing a full coverage note on the stock at this point. At the time of suspension the company was refocusing around the acquisition of the Mowana copper mine in Botswana and which has now completed. We see Botswana as one of the most stable and investment worthy regions on the African continent and view Cradle Arc’s CEO Mark Jones in high regard. Combined with the fact that the Mowana mine project has had over $155m spent on it and it is actually producing we see the anticipated re-list level as providing copious amounts of upside for new investors. We will update more thoroughly on this investment opportunity post the re-list and our full coverage note release but flag this imminent return to the market to our followers as one of our top picks for 2018.
http://www.alignresearch.co.uk/equities/align-researchs-top-10-conviction-picks-for-2018/
it was never 0.93p ?
The price of copper is on the charge which augers well for the relisting price.
GS- I agree. Allowing existing shareholders to buy at the same price as the placees is the right thing to do although too many companies would avoid this. Once this is done we should see a good 2018 for this copper producer and it should open the door for Matala.
As long as you fill your basic entitlement as stipulated in the upcoming Open Offer, all will be good. I'm content that the management have increased the fundraise from £1.75mill to £2.4mill as existing shareholders now have the opportunity to purchase more shares.
*** is **********************
I guess they are forecasting the 20m market cap because they had to do the last placing at 10p. Of course that is not what they think it should be - they wanted a premium to the 20p in fact but said the broker guided no more than the suspension price- and they would hope the market takes it higher from 10 Jan. Where will it go in the first few days? If they do offer investors the same terms (10p), then I can't see much buying in the market above 10p as this will be available anyway. Also PIs will sell above 10p to buy back at 10p. It depends how open the offer is - freely available or a restricted ratio? The sooner the offer is out of the way the better to allow the sp to move. Some of the 12 months locked in investors will sell anyway so it could drift below 10p, in which case they may scrap the offer. If it doesn't get back above 20p then none of this will have been worth the trip. However Mark Jones is no fool and the mine is very good, with the DMS upgrade giving 20-25 kt per annum as per Beaufort: https://www.**********************/shp/research.php?vid=471
that means there has been a 50% dilution??
Assuming I have still got it right, divide your original holding by 300 and then multiply that amount by .1(10p)
Im trying to do the maths. If I had £2000 when the suspension occurred, after consolidation and new addition of shares to the market, how much would the 10p listing at 20m mcap be worth? I'm trying to make sure I'm not missing something.
Expected Mcap at admission: £20mill; expected shares in issue: 200mill. Only feasible if SP is 10p.
i must have missed the 10p part. where does it say that?
There is a much bigger picture here with a management and investor base that wants to grow the business. There will be many PIs who will want out but I feel there will be a lot more waiting to invest once the sp settles down. Forget the old ALO as Cradle Arc will be a major mining player in my opinion, valuable assets and positive earnings.
cheers geo not as good as we had hoped but at least its coming back once placing is cleared maybe it will rise significantly hopefully within a month or so or on any decent news
It is not being explained very clearly where all these shares are coming from. Beaufort worked on 23m post consolidation, then 112m post admission then this grew to 132m in their final research paper on 8 November. Now this figure is 202m, why all the extras? The stated market cap at admission of £20.25m is probably more technical, based on the placing price, so suggests they did not get the 20p, more like 10p? This would account for some of the extra shares if so. Fortunately the mine looks good and so does the market for copper so we should see good progress. I am just glad this is re-listing at long last, the last year has been frustrating to say the least and I have feared the worst at times. Good news in time for Christmas for shareholders - we are all long termers now whether we planned that or not!
The share price on relisting will be 10p which is an alteration from the anticipated 20p opening; arising from the 1:300 consolidation. It is just a superficial move that has no bearing on any potential Mcap valuations, as shares in issue will be adjusted accordingly. The specifics of the Open Offer have yet to be disclosed, however it is likely that equity will be raised at 10p. In accordance with the CLN agreement, the notes will be converted at the same price as the Open Offer price.