Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Yanis,
as you know the breakdown of the allocation is in the RNS, so i wont repeat it.. but it is part of the reason i am so frustrated..
half of the first 3M is for "Working capital and future acquisition finance " even though we already raised 2m this year for working captial.. and .75m of the raise is to cover SFB overruns.. and the rest is for SEL and getting the deal done..
we dont get to vote on that though..
we get to vote on whether we want to give the BOD permission to dilute further to stay in compliance with the agreement of the loan. and give an additional 0.5m "working captial". even though we will be producing and generating revenue from SFB and have oil sales also..
That will be 5m raised for working capital this year so far, even though SFB was meant to be fully financed in advance.. yet we are going to have 12m to pay down the debt by xmas.. doesnt make sense..
We should have the 2.5m as the first subscription and the get to vote on the deal and giving them more working capital.. Can see why they cant wait for the revenue from gas..
Foxtail, brokers got 5 mil. That is the only one shown in the RNS.
Tygra, that is my concern and the reason this threat is titled “Deja vu?”. It worries me of a repeat of the events leading to Brockham disaster - we had a substantial placing at 4.25p and the SP went right though that down to 1p. I hope this time is different.
Thank God GIDEONS (who should have had a Government Health Warning attached to his Tag) has disappeared.
Feel sorry if anybody was swayed by his comments, even at 1.40 in March and Early May this was supposed to be 3p-5p.
It will come good, but you need more patience, we must produce Gas and produce Oil (Its always been in the ground, getting it out is/has been our problem)
Ok all in all it has cost 12 million in loans and 14 million for the buyout, out how long do you think that will take to pay off with the Gas prices as they are over the life of the well that will be peanuts. The edge will be easily handled for the same reasons the price of Gas will be high for quit awhile and Angus will make millions for the outlay.
Baits, they are paying £250k in cash, 91 mil shares @ 1.09p, 546 mil shares at 1.20p, & £6.25 mil from gas sales - £14 mil for SEL’s 49% interest.
On top of that they are issuing another 546 million shares to raise £6 mil - Why? If the gas proceeds will be enough to past off the original £12 mil loan by year end?
Yanis
I agree, that's why I believe a deal has already been agreed and that is why we are seeing massive trades that can't be from the placing shares that are yet to be admitted to trading. I believe there's mass forward selling due to a soon to be announced additional deal that will involve more dilution at a discount to the current price.
Time will tell
Sorry this was meant for Yanis
They will pay £250,000 cash on completion, £6000000 over 3 years the rest is the shares £6000000 pounds worth which you are on about and 91000000 shares that can be sold or should I say that have been sold. They have not paid them £14000000 in cash
Foxtail
Astounding analysis! Someone has 'sold out' and is attempting to get the price lower by posting on an anonymous forum in the hope that market makers will lower the price when a tiny sell from a perma-panicked investor goes through.
So the price being under 1.10p per share to buy isn't low enough after someone who sold last week would've received between 1.35-1.40 on a good day?
Please wake up
Tygra, the £6 mil placing (heavily dilutive) in view of the “soon to be gas revenues” that will pay off a £12 mil loan by year end makes zero sense to me and is worrying.
They will pay £250,000 cash on completion, £6000000 over 3 years the rest is the shares £6000000 pounds worth which you are on about and 91000000 shares that can be sold or should I say that have been sold. They have not paid them £14000000 in cash
Yanis, how many thousands of pounds would you be prepared to throw on the pavement and let someone behind you pick it up.
Yannis
Because as per AIM CEOs he's a spiv and has (possibly) already lined up a deal to buy a stake in 'another exciting opportunity that will add shareholder value'.
The hints from his interviews and the mention of 'opportunities' in the placing RNS suggests a course of predictive programming is occuring. He is planting the seeds of additional dilution just as shareholders are attempting to make sense of the present one.
Prepare for an announcement (probably around the time of first gas) of yet another transaction of some description paid for entirely by dilution.
We shall see
Thank you Yanis.
I have no doubt i will make some mistakes you made and a few of my own, most important is to learn form them and not repeat.. I did see Oktanes wise words and have taken note..
I hope, for both of us, we get to above 2 soon and we can get out..
Regards
SB
Actually, this is a significant point - we were told that the £12 mil Saltfleetby funding loan will be paid off by gas proceeds by year end.
Why raise another £6 mil by significant float dilution?
Now that we had a bit more time to digest yesterday’s RNS …
Now that we had a bait more time to digest yesterday’s RNS.
Is there a logical explanation for the £6 mil raise on top of the £14 mil SEL’s 41% interest purchase?
Why raise £6 mil?
We were told that the £12 mil SFB loan WILL be paid off by year end. WHY raise £6 mil via share issue?
SillyButtons, you guessed right, I am in my late 60s. I hope you do not repeat my mistakes here and make some money towards your mortgage. I wish you luck. One thing, as Oktane said earlier, adding to winners is overall more profitable than adding to losers (averaging down).
"The chart isnt Bearish at all. PA checking out the lower rising trend line with confluence at the 200 EMA.
Buying time if your positive long term. Daily RSI also sits at 33"
Mystic meg stuff really........... no -one ever quotes a chart that indicates a fall
"all over you shortly using the usual scare tactics"
Ah yes - our scar tactics include warning people about:-
Dilution
delay
falling Sp,
inability to meet "firm" deadlines given by the MD
cosy deals with people
you should be very very careful about listening to us.
BV,
"show any weakness and the trolls will be all over you shortly using the usual scare tactics"
with the utmost respect, this is the nonsense gideons used to post and can we please leave this in the bin with gideons..
there is no dark side and light side here.. just because some of us dont have your level of belief and postivity for this share, doesnt make us trolls..
Regards
SB
BV, mate, you should be able to discuss freely.
Discussion based on facts is healthy. That is why I am here. If this was a pure cheerleading board I would not be here. I believe that no matter what we say here does not affect the SP.
Discussion is healthy, and today HITS helped me understand fully yesterday’s share issue. I now have a better understanding as to why the SP is stuck at this pitiful level.
My patience with Angus has continually been tested over the last 5 years. Is finally running out. Every time we attempt to take off and break above 1.5p we get knocked back. We get knocked back by a share issue.
I am sure you can understand my frustration over my £100k been trapped here. We are at a time when the SP should have been well above 2p … and is not, is sitting at 1p and is under pressure to drop lower.
You call it weakness, I call it been a realist. The facts as they appear are nothing to cheer about right now.
Yanis,
I certainly have found it so recently.. like you im just over 40% down, but I only have a small % of the value you have invested here.. i am guessing from your posts about gardening your a a good few years ahead of me in life, im only starting out and while my investement is only loose change compared to your investment, im only starting out.. newborn child, mortgage etc so it matters to me..
A few weeks ago, i was thinking the side track was the decision point for me.. i think a successful sidetrack is the catalyst for the big rerate.. i was expercting to be back in the black and deciding how brave & greedy to be.. Now im thinking if i am in the black by a penny just jump ship..
I dont think GL really has the interest of the long term shareholders in mind, this road has been very very long for us, we have been told nearly there to many times and behinf every hill we climb seems to be another hill.. We need to start seeing progress and a higher SP.. It is completly different scenario for those who have joined recently and are in below 1p
we need the headlines to be results and positive growth, not ridiculously inflated monthly revenue figures and the other media spin GL seems to love..
Yanis I think we all get your massage and I have no doubt imho we will surpass 1.5 .
Without sounding harsh a broken record comes to mind Gl
Yanis, show any weakness and the trolls will be all over you shortly using the usual scare tactics, enjoy.
SillyButtons, has been very frustrating hasn’t it?
Over the last 3 years we got up to 1.5p about 4 times, each time to be knocked back by a placing. Fundamentals or not, I got serious doubts now as to whether we will actually see anything higher than 1.55p.
Been in this for over 5 years, got £100k in, and currently loosing £40k. As I posted below, I am now giving it until the end of next month, if the SP is not above 1.55p by then I will clear out, crystallise my losses.