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Slums,
From investopedia
'Examples of cash equivalents include commercial paper, Treasury bills, and short-term government bonds with a maturity date of three months or less. Marketable securities and money market holdings are considered cash equivalents because they are liquid and not subject to material fluctuations in value.'
I believe the CASA loan note is commercial paper so I am convinced the $5.3m includes the CASA loan note. So $0.3m In the bank as of end of May, the warrants will have added some funds but there will obviously be bills to pay.
Lack of communication is the only reason why this is where it is. A long way to go to regain shareholders trust now. I believe it will come good, but this is frustrating.
I’m expecting 3.5p to be the lowest so will be adding to my position in the morning.
What are those reasons Ella...?
Why change to dollars is another question mark lol. No one can answer any of your points Ella. Quite frankly I doubt you'd believe or accept a reason from anyone here as truth either.
So contact NvS etc and then see what they say. Or you could have raised at one of the conference calls etc.
Not saying your points are not warranted but you seem to be great at raising questions and less great at getting them answered and sharing
Sorry. No offense.
F79,
I now hold a very significantly reduced position but have very good reasons for remaining invested.
Conjecture I meant obviously
Slurms,
I did some digging a couple of weeks ago and couldn't come to a definitive conclusion. I had some questions over whether it could legitimately be included but wasn't able to convince myself either way. I believe one aspect of what counts as cash equivalent is how soon it is payable ( and at the end of May this was payable on the 16th July). I agree there are question marks but why change to dollars?
I can't offer an explanation Ella. You may well be right. Contact someone who can help clear it up as otherwise it's just connector on a BB. Then perhaps share facts back here.
Any commentary around my point about why you are invested, or gloss over that?
Is the Casa loan note liquid enough to be classed as a cash equivalent? I just assumed T bills.
F79,
Last Years cash position was in £ and was straight forward cash. This year's is $ and includes a cash equivalent aspect. Why would an aim company suddenly decide to quote it's cash position in dollars? To me it strongly suggests that the CASA loan note is included in this years cash position. I am willing to be convinced otherwise but would like someone to suggest another potential reason for the cash equivalent and reason for changing to quoting in US$.
What have they said about our cash position in the recent conferences though?
They've said we are cashed up for a long time, even before the last suprise placement.
I really don't understand why yourey invested here Ella. That's not a judgement of your motives on you at all, simply an ascertion that you appear to have distrust / low expectations / low sentiment in almost all facets of ARC.
Clearly, we'd love a higher price and the broader market seems to potentially align with you ATM but those that do think like you have sold, or are not buying.
I'm happy to be contrarian, it's generally where most money is made in time imv. (Provided your in before a spike as I generally try to be).
Anyway, I still believe fundamentally that ARCM will enter a commercial transaction. That we are unlikely to need a placement ahead of completion of a form of commercial transaction.
I believe we have large shareholders / contractors who are selling in the background. That this drop is triggering broader nervousness etc. I'm not seeing the drop as anything other than an opportunity, albeit I won't be adding too my position. It's sufficient enough.
Atb to you and everyone.
Hi SeisNav,
The equivalent statement from last year's RNS stated
'The Company's cash position at the end of September 2020 was £1.25m after mobilisation and other payments incurred over recent months in order to progress the current work programme'
So why have we introduced a cash equivalent component and why quote in dollars?
Any guesses??
Perhaps we should have a sweepstake on when the next placing will be announced?
OK, I'll re-write it:
'Such as implying that there will be another placing when there is no evidence to suggest that there will...'
Better?
SeisNav,
'Such as stating that there will be another placing when there is no evidence to suggest that there will...'
That is an untrue statement. I at least try to represent the facts in what I post.
No, I'm suggesting that you start all your posts from somewhere adjacent to the truth and extrapolate them based on little or no evidence to suit yourself. Such as stating that there will be another placing when there is no evidence to suggest that there will...
Hi SeisNav,
Are you suggesting that a placing would be well received at the moment? :-)
Ella doing a lot of yaking today! Just in case anyone isn't aware, Ella's posts are very much agenda driven and to be taken with a large spoonfull of salt, if taken at all. :-)
Hi Fulmar,
It certainly wouldn't surprise me if they caught a certain whiff in the air.
The question is:-
Have FQ delayed a sale because they can smell ore locally (better grades) to extend Sentinel LOM for "donkeys years"?
https://www.miningweekly.com/article/first-quantum-shelves-stake-sale-for-zambia-copper-mines-2021-07-28,Will the new Zam govt.address the problem ? Several majors looking on in anticipation,limited mine life is a serious problem for govt.and more to the point the country.