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I have to say that what PMC says is absolutely correct, regardless of whether you like how he is saying it. SPR is not the only way out, though the board are confidently predicting that it is. This is the same board that has presided over 95% shareholder value destruction, 80% of which has come since Fortune was forced out of the business - and yet they have the brazen temerity to warn shareholders that they may 'lose a substantial part or all of their investment' if we do not jump to their tune right now. Too late, they've already lost a large part of the investment of many of the shareholders here. I see now reason to allow SPR to pick up for pennies the company that we have built with our investments.
Very brave ....
Just down to Vametco, the company can make a decent profit. Given CC's clear capability in reducing costs and lets remember the Vanchem cost reductions were in no small part down to Vametco staff going in (is that sustainable).
But survival, in any mode, requires Vanadium prices to rise and rise significantly ... can bleat about past management failures, chasing rainbows and debt, but that would not ultimately change the fact that current sales are below production pricing. That is not sustainable and would be the same for any other setup.
This absolutely terrible deal just rolls the dice and keeps the lights on a bit longer to see if vanadium pricing changes in time
PMC2022 please would you explain what you mean by 'speaking' to Craig via 'Microsoft teams'
And @PMC .. who made you a 'UK shareholder rep' .. ?
You don't speak for me !
Very confident I will make the similar gains here with BMN. Good luck to all
Cashed out my Gamestop yesterday with a juicy 300% gain, thanks to our AI tools
I love it when 95% of the retail investors have given up on a stock, thats when I usually buy heavily
On the bright side Mikhail continues to like and post articles on LinkedIn. Nice to see him working hard to earn his salary
This kind of short term drops doesnt bother me, let's see where this will be by December and next year
Good to see your AI algorithm working again after its recent glitch.
Bought a few more, thank you sellers. This has potential to 10x from here.
Unfortunately, one of the downsides of these chat rooms is that any fool can register and post garbage with impunity.
PMC - pleased to see that you are ‘watching from the sidelines’. Saves me 30 seconds on green coffin clicks.
PMC no idea who you are and if your claiming to be the person you allude to then your talking cr4p. Your not Paul.
Okay Wakey. For what its worth, I don't generally post on here.
I have personally spoken to Craig via Microsoft Teams on behalf of UK shareholders since he took over Fortune and I have recently sold my c.5m shares because of recent developments at a 6 figure loss. Many LTH's will know who I am.
I'd love to see a better outcome for remaining shareholders here, but I just don't see it i'm afraid unless UK based investors are prepared to try and do something differently.
I will watch from the side line. Goodluck to you all.
Wow PMC2022, 5 postings one after the other - comes across as desperate. I really wouldn’t short this from here.
Metatron, yes as in Westgate and Kirkgate.
Seriously, can anyone take a CEO at face value when they are not prepared to update their LinkedIn for their new job?
In my view, the ONLY option for UK based shareholders is to vote against this deal and at the same time for a newco CEO. Someone who is prepared to try and get the best value for UK based shareholders by selling off both plants for c$200m.
The curtains are already closed. The only thing left to decide is how much is left for debt and equity holders.
Craig is also aligned with SPR, lets make no mistake about that.
Next step will be for SPR to purchase Vametco for $100m and they, together with Orion will vote for it. Orion will call in their debt and shareholders will get nothing.
SPR have only participated in the placings in order to have enough votes to try and get this sale through. Anyone who thinks otherwise is just being blindsided.
Believe me I hope you are right.. but we are not party to those discussions and agendas.
Wakey? as in westgate and kirkgate
If that was the case then why participate in recent placings and make significant loans? Their interests are surely best served by the company recovering from here and them maximising their investment and returns. In an administration they wouldn’t necessarily get the assets if someone made a higher bid.
Maybe they are just init to acquire the assests for next to nothing?
2 big ifs - if the company gets the funding (as set out in the last RNS) and if the vanadium price rises (as is many analyst expectations- albeit not necessarily aligned on timescale) then the SP could multi bag from here IMO. Investing at current SP of around 0.5p means worst case it goes into administration and you lose your money, but the potential upside may be significantly more than x 2. It’s a punt using money you can afford to lose based on a risk reward analysis. It seems the company is currently priced to fail, but will SPR, Orion et al really allow it to sink if they believe the vanadium price is more likely to increase than not over the next 12 months?