Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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They've so much on a table as an agenda for action plan:
> Claims Fallout / JR & Damage control
> Board clean-up
> Impairment assessment
> Business restart
> Guidelines for employee coordination (strategic vision, etc.)
With most staff still on a furlough first week or two will be spent mostly on planning, then (human) resources are crucial for next stages.
I'm still interested on clarity of who's buying from RG without triggering TR1 and why there's no movement on other major holders.
All official channels have been silent for a while, no activity from JB, probably too busy drawing up operative and tactical rebound roadmaps.
no idea, doubt anybody does
sen what do you think the price will be at the end of September?
He said, she said all rubbish till the money changes hands
and PIs are the only real buyers, this isnt sustainable. It will just take one big spike down and I suspect they will run for the hills and thats when the smart money will take a punt which is what it is at the moment, a punt not a trade
They wanted JBs 60% holding for 20.9p ps. He said no way would I give you control of the company for that when they are worth 5x that on cash returns alone.
They approached JB again privately with the offer he says on his tweets. He sticks to his guns that guy give him that.
If your going to quote me do me the coutesy of quoting me correctly. I said it SHOULD go to 1p/0.5p somewhere there but because PIs playing pass the parcel who knows!
there is no way they made a binding offer to shareholders because if they did it has to be put to all shareholders. Its madness to think they did
Then the tried to approach him separately!
Anyway didn’t you tell me this would be 1p by now? Is that still on the cards or should I stick my pennies back in the jar?
They walked away because JB wouldn’t sell
The mgmt said they received an indicative offer they were exploring. If it was binding they would contractually be forced to complete their side which they didnt because they walked away
conditional offer means nada. Most M&A transactions have a non binding then binding stage. That offer was non binding so you can walk away because its raining outside, its that fickle.
Senator1
https://www.ft.com/content/3093f813-6e0d-4a1a-9549-56386729619d
It was a £100m offer after having done the DD.
and we are sitting here with a mcap of what £39m?
This idea that GC has made a big commitment to AMGO is just plain wrong. Look at his p/s over say the last 12 months. He sold a substantial number of shares if I remember right last year/early this year much more than he recently bought and when you look at the consideration he received more than he paid out. I suspect he purchased what he did to average down his remaining shareholding with only the profit on his sale/purchase transactions. The FD got given his shares as a bonus and has little downside. The only real commitment is from HL PI clients and thats not based on anything substantive.
Mark - that was delayed report because of covid, normally there's another report in Aug, then next in Nov
You say that as if they didn’t make an offer! They did all be it a low ball 20.9p offer but an offer nonetheless.
JB reckons it’s worth 5x that in a simple take out ( hmm not sure about that ) true value probably lies somewhere between the two figures
And they did approach him to buy his shares
They didnt make a binding offer as the management made clear. They were on a fishing trip to get information. Why Amigo mgmt were involved still amazes me and the shareholders paid the bill for all the suits to find a buyer for JBs shares. Let him hire his own advisors rather than stuffing AMGO again and yet most of you think he is some sort of saviour. Be very careful what you wish for.
We just had our report Yuri.
Just 1 week ago Glen increased his position to 6.03% remember and JB stated he is still buying. Like him or hate him JB speaks his mind and does not BS.
Yes Mark...that would do it!
ohh, might have confused with another ticker's financial calendar,.. not sure about amgo due date for next report.
Mark - he can't buy before results are out.
Yes Greatcrestednewt...that’s it’s. Obviously he is supremely confident. I would just like some kind of confidence boost. It would encourage buyers in and holders (like myself) to be sure of retention beyond a certain price. Worst case scenario that article may be. But worst case scenarios can happen.
What would be ideal right now is a rns announcement Monday stating that this week has been spent sorting the bank funding and that lending will be restarting swiftly followed by another Tr1 because if he’s still buying having been in the chair for a week that then really is a statement of how confident he is!