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in line with American opening maybe??
I think it was a good decision not to come. IMO the show represented the misery of AIM. Tiny stalls with some papers (no gifts for visitors) and many members of BOD waiting to satisfy any interest.
But not much interest from the public. Lots of viewers were sitting on the ground floor listening to professional lecturing, speeches... Not many went upstairs to the 3rd floor to meet the presenters; - poor small companies greedy for Investors. Few had a Prospectus - others just some leaflets.
Reach Investors, real treasure chasers do not go to such market to look where to place their interest and money.
Any time, they aren’t bound by any timings
What time do we all think we will be rich or still paupers!!! Ha ha.
This is a £300 million business. How much steel is needed for the next 1 billion to be used for the walk? One thing for sure it will all be made in the USA
Interesting that someone might be sitting on lots of reserve coal but not have the means to get it out. So hence deals with ACG or others who how demonstrated they can and also have the kit.
So I have confidence they’ll consolidate mines, try and drive efficiency and simply make more money overall, why compete in every case when there is a market for the product.
Definitely more value, I have a small stake, biggest change is if 90% isn’t achieved and 15% ish get wiped off the new listed register. Then the sp, I think At least £100 million business. They’ll show great results and predict more.
That’s an interesting take Kentan......ACG is gonna cost the Singhs a lot more once it gets up and running on the main market......
Danie why would “guys like best and Wilson” launch ACG on the main London market with us onboard?......they could have easily thrown the shareholders a morsel at delisting and walked away with the company,brought it back 2yrs later and been real fat cats!......this is the real deal like them or loath them......
Monday? OK. Why would guys like Best and Wilson make us rich? Why don't they give us some news? Where is the prospectus, and will there be one?
When Adam Wilson sold Hichens, Harrison & Co plc.,(London's oldest stockbroker at the time) when he was MD, in May 2008, it was 4 years after he floated the company on AIM and 5 years after joining them. It was bought by Religare Enterprises, based in Delhi, run by 2 young enterprising Indian billionaire brothers (Singh) for £55m (at 285p per share) with over 90% approval from shareholders.
Could he have similar (or the same) investors lined up in the background for a repeat scenario in the future (if not now)? ... it is funny how these things tend to repeat themselves ... #theFourYearItch ...
"I think I have found another pot of gold Gurdip" ...
"Where Ranji?" ...
"In America, that nice Mr Wilson has just emailed me" ...
"Will Mr. Trump let us in?"
"Of course he will, if we pay him enough"
"Anthracite is it? ... Could be a Gold Mine" ... "
"I will phone my broker and cut open the mattresses"
If i had not had another reason to be in London on saturday i would have been gutted! Regards to all, we wait!
Yes Digi, they did renegotiate the loan facility on an improved balance sheet and projected rising income.
As highlighted in the SeeThru Equity Appraisal (October 2018):
"Atlantic Carbon has amassed an impressive asset base that supports its position as the leading anthracite producer
in the United States, making it one of a small number of domestic industry participants in a position to increase
production into rising prices. The company has a strong reserves base of 9.5Mt, which management estimates could support current production for 17 years.
Management is in talks with Pagnotti, the largest landowner in the Northeast Pennsylvania Anthracite Fields, to control additional reserves and has identified several potential targets. Additionally, Atlantic Carbon boasts industry-leading assets, including $40mn in new mining equipment from Komatsu (2016 vintage), Processing Prep Plants with 1.2Mtpa, and a 50% interest in a 150kpta dryer through a partnership with Hiller Carbon."
They have built-in future restitution costs to meet with environmental requirements to return the scarred land to its former greenery with tree planting and other nature-friendly projects when the mines have been worked out.
This bodes well while Trump is POTUS and the same policy continued after his Presidency. The strategy supports the domestic coal (carbon) industries in US and affords them a certain amount of protection.
ATC were very proactive in snapping up other Anthracite Mining companies on the cheap when prices were affected by the downturn prior to 2016, plus they had the vision of how to maximise these acquired assets with the implementation of new modern machinery and mining techniques.
Look at CEO/Chairman of ACG, Adam Wilson's CV, he is a very shrewd businessman:
"After qualifying as a Barrister at Law, Adam Wilson began his career at NM Rothschild in 1994 and
subsequently moved to LCF Rothschild, specializing in equity derivative and structured product sales. In 1997
he joined Teather & Greenwood where he became Head of Derivatives before joining Hichens, Harrison & Co
plc in 2003. He was appointed Managing Director of Hichens, Harrison & Co plc in October 2004 after which
he floated the company on AIM and developed the business considerably until its sale to Religare Enterprises
Limited in 2008."
He is not a career miner, unlike George Roskos, I think it gives a clue to his intentions with the new ACG (based on his past MO) ... build it as quickly and efficiently as possible while Trump is in control and commodity prices for Anthracite are high for maximum return ... then put a price tag on it and sell out before a downturn returns. My estimated current value would be around £125m plus a premium to cover the next 5 years profits... Anyone with a spare £150m it is yours tomorrow.
Taking it back on the UK Stock Market is to raise its profile and to attract further investment in expansion of accelerated growth, with some inevitable dilution
Wasn’t the loan facility up to a maximum of $21mil,and it was re negotiated last yr from 14% down to 9%......imho it wouldn’t make good business sense to pay down that facility when we are bordering on expansion?......only a hunch but I would say the loan facility will stay the same or be renegotiated down some more?
Looking at their registration at Companies House, there are 2 outstanding "Charges" levied against ACG, which show as unsatisfied.
These charges were created May 2016, both lodged by White Oak Global Advisors LLC (Delaware, USA):
One is for $21,000,000 (a loan for the purchase of plant and machinery)
The other is as security against land and intellectual property.
What I am wondering, is this amount going to be satisfied when the reverse takeover is complete or will it remain as outstanding on the register? I have not seen the full terms of the t/o agreement.
So, should we allow for $21m to be paid in full to the creditors and the charges satisfied, while the value of the property purchased remains as an asset to the new company?
There are a couple of interesting You Tube videos from June/July 2016 that feature Adam Wilson (CEO of ACG) and George Roskos III (President & CEO of Hazleton, when they merged with ACG at the time).
At the time, they were fighting the underground fire at the Hazleton mine and discussing the future benefits of being able to share the new $20m plant and machinery that had been bought by ATC before they delisted.
The discussions also featured the future expansion of the group and the encouragement of other carbon-related industries to Pennsylvania.
It is also nice to be able to put faces to the names of major shareholders & directors.
June 2016:
https://www.youtube.com/watch?v=7N9o7z1AW30
July 2016:
https://www.youtube.com/watch?v=6Ir5sll4Y0w
My take on the "no show" at today's UK Investor Show, is that when they originally booked the stand, it was assumed that the vote would have been completed on the 28th February deadline and the results ratified a week or so later. This would have given them plenty of time to prepare their prospectus to encourage further investors on board today.
After the deadline to vote on the offer was extended to 25th March it tied their hands, as the outcome was still up in the air for an announcement last Friday.
I believe there are still predators sniffing around the company who have the wherewithal to snap it up as a going concern. It has the anthracite which is rising in price and demand by the day, with at least 20 years+ of mine life ... as recently as July 2016, they were talking about attracting industry to Pennsylvania to utilise the carbon (high-grade anthracite), to best effect, in the making of car bodies and other high tech applications which would also provide new jobs in a high unemployment area.... since then the "Trump" revolution has further promoted this idea. So it is now possible that they would be attractive to US industrialists to get involved in JV's with supply and manufacturing of carbon products.
Let us see what Monday brings...
We don’t need 90% for listing, it was 50% which has been passed. The 90% represents enough acceptances so as 100% are then accepted, I think it’s unlikely
If someone has popped in an offer it immediately saves ATC sharing 10% with DS........anyone remember the bidders that surfaced when Atrum Coal wanted a stake in Atlantic Coal!......same could have happened again,we are much leaner and fighting fit as the US top Anthracite producer.......not a bad flag to have flying outside your office
Why show at the ‘Investor Show’ if you’ve just secured your investor or have received an offer! Just a couple of possibilities we can summise on over the next 48 hours!! The board have planning this ‘re-list’ over the past 12-18 months. I would be v surprised if this was pulled, simply because they didn’t reach 90%! Roll on Monday. Happy to wait longer whilst they Decide how to communicate the £100m+ offer!!
The 90% is a statutory mention,it wasn’t a requirement,I think the extension was pure courtesy as a lot of nominees were hopelessly caught on the hop and not forgetting the poor paper holders who were led to believe at de listing their paper was only good for lining the rabbit hutch floor.......I think we will be lucky to get 80% so that will mean all sorts of tweaks to the distribution and indicative share price.....
Ooh I hope someone has tabled a juicy £100mil+ offer for the officers to consider an early retirement!
Yep two days, could be all sorts of reasons for the delay. It started by the fact they didn’t get 90% first time around. So listing on, listing off? Number shares up or down?
Lol......you’ve only got to wait till Monday danie to see what a little five bagger looks like.....please let me know what decade your post office shares will multi bag and I will take a look.....if I’m still around!
Back to the business end,what’s the chance of a left park bid coming out the woodwork for the entire share capital?.....just a thought!!
Don't be naive. These people are big crooks and they are concocting another nasty surprise. The lesson is to invest in FTSE 100 shares with responsible management and leave the aim rubbish for the suckers.
I better ring them on Monday. Already voted but who knows what's going on.
I just checked the Investor Show website now and their name has been removed from it. Why did they pull out of the show?