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Whats holding us back?
why arent we above 5 or 6 in anticipation?
any ideas peeps?
all thoughts welcomed?
I’d say highly likely to be rainbow chasers such as Friday. They’ll end up getting locked out when the news drops
Markets have become very risky averse, especially with mining stocks. Look at what happened with Lithium miners. It's normal given it's Aim and the current economic climate.
I guess some of it is related to how the company was under Frayne - numerous false dawns etc… whereas now we’ve had Sheffield actually invest and commit to 60days of DD and the company seems to have dealt with the GSMB and the corruption that suspended the IML.
We just need to hold fast and hope that the DD goes positively ( imho it should’ve been completed to some degree before the original Sheffield investment ) and then we are on the SP rocket ship
If every thing goes well and we have a signed off JV with similar T&C's to the LB deal what is a realistic expectation on SP....
We’ve all see the analyst view of 46-70p on known resources etc. With the ‘false dawns’ we’ve endured so far, and the fact we’re on AIM, IMHO I think we’re likely to see around 12-15p as our future base. This making us valued c.£40m. I think we need to see physical action (diggers opening up site, lanes marking, port being dredged and refining plant being built etc) to push us up and beyond that point. I think some of that can happen really quickly once the funding is available, so we’d bounce on north of my estimate in successive bounds on a regular basis.
I hope I'm wrong but unfortunately I see this getting taken out for a small premium (full price probably under 10p) on an all-share offer most likely by Sheffield given what's happened recently.
Someone seems determined to keep the share price down, for whatever reason.
Hope the management don't settle for peanuts given the size of the resource. You never know with Aim. We'll know direction of travel soon.
The only thing that could stop a takeover I think would be the fear that the SL authorities would then use this as another delaying tactic - I think I remember them doing exactly that with another company where they argued there had been a change of legal ownership which they hadn't approved - or something like that.
20p will work for me, but i can live with 40-70 lol
I don’t think it’s the management who would be able to settle for peanuts.
A minimum offer by the offeror (should it be Sheffield) would be the highest price paid in preceding 12 month, which would be Sheffield option at 4.891p (they’ve included this in their tr1).. and then they’d have to get the major shareholders onboard to vote it through, who will also want a return for funding the co through a few raises, last being 4.25p. Between those other tr1’s there’s circa 30% plus of float, then account for other large holders. It won’t be peanuts as in down here.
By peanuts I mean less than the highs of late last year when we had a buying rally. If we get bought out for less than 5 p per share -- I'll be very disappointed. And so will many LTHs who are still in the red. I think you know what I mean by peanuts, are you a lawyer or someone very literal?
We were well over 10p before our licenses taken from the GSBM. Now we are in a even better position than previously as all the legal implications has been resolved and much better relationships with SL government, GSBM & BOU.
Less than 10p would be a criminal for a asset with so much of potential.
I think anything below 10p would be peanuts too Sebo, so I’m in same camp as you, and I would bet the tr1 holders are too.
We should remember that the original LB JV was proposing $81m (£63m) for a 50/50 Jv and 100% offtake. If they offered that right now for whole project, it would equate to 18p per share. There’s parties know the value and future returns
All this is academic - it all hinges on what the original aussie investors would settle for - all in share offer as part of Sheffield still gives them all the potential upside here plus part of an aussie group already listed in Australia where I'd guess they'd prefer to be.
I'm not saying it is going to happen, but given the cheap buy-in the CMET board have facilitated for Sheffield it would not surprise me to wake up to that red dot one morning. If Sheffield win the JV the probability is even higher.