Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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that hot poker hurts
folks
And thoughts gibbo?
The company’s website does not even have the unaudited accounts. Just about sums up the company.
Unaudited Interim Results now...
I don't think anyone needs to bet, it seems it's a forgone conclusion. AIM stocks can go screw!
anyone want to bet that this will go into admin, the assets will be sold for a song, after a short while the mine will miraculously come back to life and private funds will pop up from somewhere....shareholders will get sweet fa........seen it done many times on Aim........
offers of up to $150m were being considered - today the shares are worthless, 1000% dilution ahead with a few pence in return if accepted
If we all threw our towels into the mine, it might soak up some of the water.
I haven't thrown in the towel yet. I'm still looking for the damn thing. We don't know what the flooded mine may be valued at. We don't know what the value would be if it was partially flooded. We have no information of what they would use the money for if the 1000% dilution was accepted. How would the business be managed differently? We don't know the current production and finances of the company. The last lot of financial information seems to have been so full of errors that if we thought the situation was improving - that could be based on incorrect data (like the water levels) Can't make a decision without more data, but doubt I'd put more money into this. How would we be a cash shell - that would imply we had cash left over after paying off our debts. Would the sale value cover that and if so, what is the envisaged Market Cap? Why would the company want to retain its listing? Unless of course it's to get the money from PUNO?
Good question. What do we do-sell our shares at a fraction of their cost? Sorry we cant as we are suspended FFS. We either vote in favour of their resolution and get shafted or don't vote and still get shafted.
Very quiet on here considering...... has everyone thrown in the towel??
If the opportunity is so good why are they looking for more funding. We all hoped that this was starting to turn around, but it was obviously not the case. The Board need to be committed also to this dilution before Ininvest again. I would like them to invest their own money and have a greatly reduced salary but then overweighted with share options based on actual achievements. It's a shambles and The odds are over 100/1this will make it back
Glib, I saw the Jan - June Figures in the RNS, however, the interim report for this period is also now overdue, typically they have announced this anywhere from mid Aug - end of Sept in the past
It looks like they are trying to set CRND up as a cash shell. Will there be any cash after debts and costs though? What is the saleable value of the mine in its present state? What is the benefit in retaining our listing? 88.5% of the company is owned by people with more than a 3% shareholding. They could just save money and ask them if they are interested in a 10-fold increase in the number of shares (1000% dilution). One of the recent RNS' mentioned the Jan to June figures. "The Company's production for the period 1 January 2017 to 30 June 2017 was 2 320 Troy Ounces."
What a shambolic report. 8 significant accounting errors reducing 2015 op profit from USD 1.442 m to just USD 2,000 (yes - a reduction of USD1.44m). Private investors use these reports to make decisions on. I feel deceived. The 2016 year op loss is a staggering USD4.476m. This is either incompetence or fraud. The interests of private shareholders have clearly not been represented by the board.
Last year, is history. I want to see the Jan - June figures we were promised, that will give us the most accurate picture of where we are....... Magically, the Puno update is no different to that released last Friday. Why isn't the High Court award being chased?? That would at least keep the wolf from the door / buy them some time.... Why an earth would anyone throw more money at this?? even the BOD's latest ventures I.e. toll treatment & acquiring waste mine dumps isn't delivering......
.........
There is a requirement for black empowerment and there is a constraint with unionised mineworkers. The resolution is to ignore PUNO, sack the unionised mineworkers and form a cooperative with artisanal miners currently illegally working the near to surface deposits. Do a 50 / 50 split, it will give legitimate work where it is wanted and directly empowers the local community. We may also get some gold out of the ground.
Was this the plan all along?? Loads of negativity from BOD, seek approval from shareholders to issue 3 Billion new shares / 1000% dilution knowing full well that shareholders will not approve, GM located such that few or no shareholders will attend. Debts are called in by Redstone & Chinese, CRND runs out of cash, folds & mine goes to debtors .......... PI's left with nothing again.
I am waiting until the results come out before making any decisions, whether the board will buy shares, take part salary / shares all performance related. What the plan is moving forward. They wont get a cent from me until the way the company is run becomes transparent, I cant abide the lack of news, good or bad.
Ladies and gents, I am really not interested in giving them a cent more. Their lack of a plan and transparency is sickening. They will ask for more money next year and the year after. How can we approve a 1000% dilution. The company is dead in the water.
FFS the company is worth nowt , a big wet hole with gold that can't be mined .... get real we're fecked
I believe the intention is too sell and it remains how much forThis is where the cute deals will come in I still expect a decent price all its neede is a decent injection of money and a strong company too take it over
With the cash call of about $40 million dollars most will already be spent on the $20 million debt,costs to set this up,BEE which I believe is now 30% and the extra months payment at Christmas:If we are to take a haircut then the debtors should have the same proportion.Otherwise there will be another cash call earlly next year and so on For info in 2008 they had $151m in the bank and 9 years later they are in debt with dilution all the way