Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Fair enough, hadn't seen today's RNS. Reading it though it doesn't change much, it's very clear that they will need to fund again this year and clearly before the cash runs out in 'Q4'. The point was that people were making a suggestion that as placing had only just happened it was silly to suggest another one was in the offing. Yet it's very clear that there will be even more funds needed in the current financial year. When £20m+ doesn't get a £60m mkt cap company much more than 9 months of keeping the lights on then clearly the risks are pretty damn high.
There is a lot to like about DDDD and I wish all holders the very best...I'm just not sure that they won't be diluted out of the pot of gold at the end by the time they get there. But each to their own and he who dares n all that!
Main worry is the funding and you also get the feeling that progress is slower than anticipated
Money runs out in Q4...only 4 months away.
No wonder RG has been selling
RyeSloan
As you well know, that was old information, issued prior to the placing, albeit the same day.
The placing was oversubscribed to the extent of 22% and in todays release they state they have funds until the end of the year with share holder value accretive events expected well before year end. The first of which is the eagerly awaited CV19 trial, for which first results could be expected within 14 days of initial dosing.
Clearly set to go lower. My guess is a bounce at 40p
As predicted continued downward selling pressure from institutional investors wanting to exit. Expecting initial 30-40p until positive news. Great company but investors are returning cash to investors or just derisking for recession like scenarios. Here's the historic source of selling and expect more sells especially from Link Funds (Woodford):
Lansdowne Partners Limited Below 5%
Link Fund Solutions Ltd 11.96% 13,091,131
Richard Griffiths 5.94% 6,500,000
A placing that they said funded them for around 6 months....that was 3 months ago. This company will need more funds and reasonably soon, they said as much themselves. Quite whether they will have achieved their value accretion before they do in order to avoid another fund raise at a large discount is certainly open to question:
"The minimum net proceeds of the Fundraising, together with existing resources, is expected to provide sufficient working capital to fund the Company for at least the next six months, which time period includes key data readouts on the first and second of the three items above. Should positive data emerge from these studies, the Company believes this will provide a material validation for its approach to developing LBPs and also serve as value accretive events for Shareholders. Management also expects that such positive data, if generated, will provide a platform for attracting new investors and raising additional capital, as well as providing further opportunities to expand its partnerships through licensing and other collaborations"
they recently raised £22m brain spark lol
whats you on about ?
They've just done a placing you muppet!
Can see this hitting lows. Placing coming soon.