Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The answer is clear now, UT was sold this morning for £200 profit ! !
I agree, weird.
Could be traders who haven't bothered checking the facts.
At pretty much mid price - weird one when this stock is dead. Any explanations?
Are people buying this? Something we don't know?
no chance. another AIM poorly run company that will leave shareholders with heavy losses. B.Faso has had some issues in the last few years but the gold is in the ground and the gold price is still pretty healthy. i have been on site an saw the potential of this share
. what a shame. GLA
Will the directors get taken to court over this?
Looks like the RNS saying AVMs final asset being sold. Just a cash(or loss) shell now. BoD rinsed AIM holders as per usual. Should be dragged through courts
Dead as far as I was aware. They’d sold off most of their assets, had a lot of debt, and the mine they did have was coming to the end of its like. Made a bit off them a couple years ago, pleased to get out when I did.
anyone know whats happening with this ? no news no chat. is it dead ?
Looking at this stock for a while now I wonder what asset there is still left that could bring this company back to life. Am I missing something after sell of lately.
Sold - I've lost enough here already, and I don't see any scenario now where the shares will give anything back after mid January. Not the best Christmas present ever from these guys!
selling or gambling ???
Update on Friday same day as half-year results.
Avocet Mining Plc (the ‘Company’) announces today that — despite the standstill agreement having expired — certain financial and trade creditors (the ‘Major Creditors’) of its subsidiary Société des Mines de Bélahouro SA (‘SMB’) have expressed the intention to come to a consensual restructuring of SMB’s balance sheet. These creditors have continued to be in discussions with SMB with a view to agree such a restructuring. The Board of the Company met on 8 September 2017. In light of the current circumstances, it was decided to reconvene on 15 September 2017 to re-assess the status of the discussions with the Major Creditors, SMB’s liquidity position and the available options. The Board of SMB has not met yet. Given the current status of discussions, it is unclear whether agreement on a restructuring of the balance sheet can be reached before SMB has exhausted all available sources of financing.
Still hanging on - see RNS Maybe recent improvement in gold price might save the day - again
The Board and management of the Company would like to thank David for his commitment and dedication to the group and wish him well in his future business ventures.
Cos of Korea gold stocks marked up ,what happened here
I'm swayed a little that way too. Average buy price is around 14p, but that was old money, so £1.40 now, which is not at all healthy! This did jump back up to over £1 not too long ago when we were in similarly dire straights, so it could happen again, but I am less hopeful this time - the fundamentals are a little bit shaky just now!
losing a lot of money (on paper) right now ! buying more is the only option for me and fingers crossed ... gold will go up further....
As the price of gold is getting a huge boost for obvious reasons, by the end of this week it may well start flirting with $1400. This may sway the pendulum and make AVM's creditors think twice. As Tom suggests, the creditor's will be the biggest losers if they plunge the company into insolvency. It would be mad of them to kill the goose that is about to lay the golden eggs.
Hmmm. The crazy speculative part of me says buy - there is no real gain for the creditors in allowing insolvency to occur, as unless they decide to take control, they are the big losers. On the other hand, its BF and logic won't necessarily prevail.
Loads of times people from here would post on ATYM board .... Wtf .... Reversal of fortunes. Is this game over or a buy ? Gla
In light of the current circumstances, the boards of both Avocet and SMB will convene on 8 September 2017 to assess the status of the discussions with the Major Creditors, SMB's current liquidity position and its imminent liabilities. The boards will consider all available options, including the potential filing of an insolvency petition by SMB. No decision regarding whether or not to file for insolvency has been made at this time.
Annual Accounts filed at Companies House today they are being processed and will be available in 5 days. https://beta.companieshouse.gov.uk/company/03036214/filing-history