Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Is it Ed ðŸ¤
...last but not least but now will do.
At the beginning of February we were top of the risers and I was toasting the fact that the sp had returned to the previous placing price...then what happened is just unbelievable. What they're telling us now is that they couldn't raise the necessary funds at a better price, despite the quality of the asset? And last but now least...being in the right place at the right time.
The difficult task in hand has never been in doubt. And I've no doubt that Kallak will be mined. By whom is another matter.
Vardar has always sat uneasily with me. No accountability...
But never underestimate a person's greed. Rome continued to burn as Budge, at the behest of the board employed consultants to advise a pay rise. Just another example of poor management. It's not a good look.
And we still don't know Bowie's renumeration.
I'm also very naive in that I find it difficult to believe well paid, reputable people would have an agenda other than what they publish. Never thought it would be anything but difficult to pull this off given the amount of time the appeal would take and it's taken twice as long as I expected.
No you're not, and neither am I. I've just observed a slow train wreck sadly.
And as of tomorrow, should the resolutions been passed, Bowie will be able to issue even more equity sub 1p.
You can hardly blame the Vardar owners? One born every minute, and right on cue, Budge came along with a bag of our money to spank.
If we don't survive for another year at least the rogues who got us into Vardar don't get any more money. To adapt an old phrase, if we didn't have bad news we'd have no news.
Eric...I've read it now and yes, I have considered that. We don't know why Kurt left that's a mystery and things have gone from bad to worse since. Disappointed you've accused me of snipping. I've read the RNS now and have to admit that a lot of it is meaningless in a bad way so far as I'm concerned. So yes, Pocko, you're very clever and I'm very stupid.
And the 6-month review announced by the lame duck chairman? That sent the SP spiralling too.
Quite what was reviewed is anyone's guess.
Not at 0.61p though, when the previous was at 2.06p. Had Bowie not mentioned the fundraise a few weeks ago when the sp was well above 1.5p, then surely the discount wouldn’t have been so grim. Unless he wanted it this way. He could have mentioned the potential share reorganisation and discount together in today’s RNS. With a higher discount price, even above the nominal value of a penny, still a good discount to what would have been the prevailing sp, so no need to mention the share split at all then. But no.
Has anyone considered that Bowie may have engineered this on purpose to suit an interested major investor?
If he hasn’t, then again, it’s a mark of total incompetence. Either way it’s a fu.kin’ disgrace and so is he.
My view only.
Eric/sooz/bannor
well,you was all expecting it.....just the ammount being raised,seems a lot.
And perhaps read through today's posts to get a flavour...
Before you comment then Sooz and begin any sniping, please read the RNS x 2.
They are worth reading and you owe it to yourself to do so. Let me know what your thoughts are.
Perhaps read the RNS first?
12-months is the maximum... Based on the company failing to achieve full subscription. We didn't last time, and I guarantee we won't this time.
Keeping the lights on is the bare minimum. I'd hardly call that a success.
Well, Pocko has managed to find a positive...it keeps the lights on for twelve months, which is of course why you always need money. Just saying, I haven't read the RNS yet, seems a bit pointless given the reception it's got.
I'd watch out withe the schadenfreude llbj
What goes around comes around - karma etc
Well, since 2010 I've held the view production or death. Fortunately offloaded most of my holding over the years on the dead cat bounces but regret not bailing at when this bounced at 20p. Oh well, given inflation I guess I've lost equivalent of the value of a month;s gas bill and a Mars bar.
Ha ha ha ha
A worse outcome than even I predicted.
Still the daffodils are looking lovely in the sunshine, eh Suzy ffs
And at least Budge had the brass neck to put his face on camera occasionally... Keeping up the pretence. Teddy is completely anonymous.
It keeps the lights on for a maximum of 12-months, as stated in the initial RNS. That is the only positive.
Typical AIM death spiral we are now victim too. Companies with worse prospects than us seem to get better financing deals and look after their PIs more than BEM does. So much for having quality assets in tier one jurisdiction lol. Appalling, you are correct Eric..
I won't be taking part in the fundraise but may buy some on the open market if/when it goes sub 0.70 to buy them sell when it gets manipulated higher over the next 12 months to let the underwriters out at a nice profit.
SP Holding quite well considering, not sure why you would buy now when you’ll get it about 25-30% cheaper in a couple of weeks ?
Taken private for a pittance...
I understand the owners of Baobab Resources in Mozambique are doing well.
Soak PI, and then take it private, stating "that's the best price we could achieve in challenging times..."
If you don't know the score by now, you really should'
Well done BoD, we now have a company with 3 major assets!, worth less than £10m. How are we going to fund the development of any one of these assets, let alone 3. Appalling.
Don't forget the sweat payday for the Vardar boys... 52 million new shares issued to them. Locked in for a whole year too...