Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Nice summary SP7.
It was the Steinpries' early involvement that enticed me, too. Like you, I dont believe they will let it fail easily.
My concern was more about whether they, as larger holders, could get beneficial terms of aome sort for their stake following a delisting, while leaving us lowly PIs out in the cold...
I am assuming that a delisting would mean taking the Co into private hands again, but this may be something slightly different?
Every time someone including myself has asked Luke Bryan for information, he has refused to give any. It's not like anything he told us would be price sensitive while we are suspended. So it is infuriating. Unless he will not say anything because it may be sensitive in regard to finalising any RTO, it is disrespectful to shareholders large and small.
Having said that, the factors which are positive to a happy conclusion are:-
1. A new nomad and joint brokers were appointed in July.
2. Pelamis Investments (Steinpreis brothers) have money to lose with their shareholding, currently 22.63%.
3. The trustees of the Steinpreis Superannuation Fund loaned £60,000 unsecured. Trustees have a responsibility not to take undue risk.
4. There are the other investors who participated in the placing pre suspension who would not be happy to see the company fail - possibly the 21.66% holders.
Obviously the fact that we have not yet had details of the RTO announced after what seems a reasonable length of time to have concluded it, bearing in mind the updates they have given, is very disconcerting.
I am still hopeful, as one has to be, that although the company's shares will become delisted, the delay is not down to any insurmountable problem and that the Board will seek readmission when all is ready to go.
I do not see the Steinpreis brothers simply allowing the company to fail.
So thats total loss situation?
SaintPeter..all the best. I know u were heavy here.
Ditto. Maybe automated by date.
Either way looks like Delisting certain.
Well, as of today, my HL account is showing zero value against DRG.
Delisting rns logged?
We get one this week , :( prob delisting rns
Wheres the Update
Yea def - don’t think we get rto done by next week
The Board remains confident that the Company will either complete, or have entered into, a transaction that satisfies the AIM requirements set out in the Company's announcement dated 21 March 2017, by the deadline of 20 March 2018.
So next week it is then. Will have been suspended for 6 months by evening of 22 September next Saturday. So in practice an announcement will be made by Next Friday. Based on my previous shell experience, I am now expecting that the company will be delisted. However for an RTO, a new application has to be made to list the company on AIM anyway if I understand AIM rule 15.
Any agreement which would effect a reverse takeover must be:
— conditional on the consent of its shareholders being given in general meeting;
— notified without delay disclosing the information specified by Schedule Four and insofar as it is with a related party, the additional information required by rule 13; and
— accompanied by the publication of an admission document in respect of the proposed enlarged entity and convening the general meeting.
Where shareholder approval is given for the reverse takeover, trading in the AIM securities of the AIM company will be cancelled. If the enlarged entity seeks admission, it must make an application in the same manner as any other applicant applying for admission of its securities for the first time.
"Mid-September": 10th - 20th September????
Exclusivity extension until mid-September 2018.
Not long now then.
Still hoping for a good outcome here and that this deal comes off. CLN RNS suggests deal has progressed and bodes well. Seems like sufficient time has passed now. Hoping the long wait is nearly done. Aimo ATB
Is it going to happen ?!
I see the last NAV RNS issued here was 3 1/2 years ago and one year before that. Does anyone know the signifcance/rules behind a NAV RNS ? Thanks.
Deal Update The Company is pleased to report that it is in the process of completing due diligence in respect of the proposed acquisition of a private entity that owns copper exploration and development assets. A Competent Person's Report has been completed on the mining assets and legal and financial due diligence is well advanced. The vendors have also agreed an exclusivity extension until mid-September 2018.
The last indication I heard was mid August re-listing. See the positive change in nomad and joint broker,
Still a month or 2 months
How soon ?!
I was thinking new placing shares / funds. Of course I can be wrong.
What if anything cam be read into the appointment of SP Angel ?
Anything to report anyone ?
Now we are in Q3 I would expect some progression. Deals take time. Glad I got in before the suspension as we all know when this comes back it can move very quickly!
any sign of anything here???/
1p wouldn't be a multibag for many investors but I'll settle for it !