Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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A 'year wasted'....lol where were we this time last year,now.....major rns' showing plenty going on behind scenes ALONG with fsp,metals,which eua have in a 'supercycle'......if only all the shares I hold had such a 'wasted' year
NttG that takes me to a question I asked before but think got lost - if an outright sale of an asset or the company happens, then there will be sale proceeds to deduct from. If it's a different "strategic option" e.g JV or series thereof, then:
> does that qualify as a "successful" FSP outcome warranting payment to UBS, DLA, CITIC and the like? If not, I don't think they would be very happy at having zero fees due!
> if it does and fees become payable then how/out of what?
Just a thought, something that makes a bit more sense to me than "strengthening negotiations" with a buyer who I cannot see would care much if we have an option for RI or not.
Opto - this resolution expires at the next AGM (it states it), where it will likely be re-requested, but this is only until the AGM is called.
Unless, thought just occurred...
Success fee payment? We have several companies on a success fee basis that EUA would need to meet - might they need paying in the next four months??
why are you reading a timeline of 4 months into this? it gives an option for an RI only...i.e. there may never be a need to use the option. But if they wanted to mine the Rosgeo JV area, they can finance it this way...IF they choose to...again not guaranteed that this will be the finance source
Apparently so opto, though admit I'm not really seeing how $6m in the bank, income from WK, and a two year exclusive option on additional mines really points to the BoD needing this ability to call a RI in the next four months.
MacMan - it's wasn't unresolved, it was not passed and not actually needed. I wouldn't have thought any unused facility would transfer to new owners if EUA were bought out, and any individual asset sale would result in additional capital.
So let's hope this does what is needed, though I just don't see how/ what exactly this adds, and the FSP gets resolved before the next AGM.
Imo the EGM will announce a special dividend to share holders on the eve of a period of exclusivity with a single buyer.
The Rights Issue is also an unresolved issue which should have been sorted at the last AGM. This potentially needs closing off so that all the books are in order ready to hand over to the new owner.
oldspursfan - it is because it is a bargaining chip in the negotiations. I'm not sure why people aren't seeing this.
Agreed - we're heading for a RI (assuming a mystery bidder doesn't emerge at the final moment - v. unlikely). Good stuff -market seems to approve. 1 year wasted!
Personal preference would be some kind of FSP or strategy update before the EGM.
As a shareholder I'm naturally averse to giving carte blanche to BoDs for them to issue shares like confetti unless there is a clear strategy to follow. Even questions like why resurrect this now, as opposed to re-inserting it into the next AGM? Why give yourselves only 4 months timeframe to utilise it if passed (end of next AGM c.Sept time is the validity cutoff)? Why limit yourselves to issuing via a rights issue, when being in an FSP represents a closed period, so would impact on director dealings?
Perhaps more importantly, what's the top priority now - sell the company, or expand the company, as whilst you can say they are running concurrently right now, it is not feasible for any real length of time?
Not really expecting anything like that, but would be my preference.
I think the EGM will happen, the vote will be carried, the FSP will not show and the share price will remain between 26 and 30.
What is the general thought on the EGM end of this month? Will we hear anything on the FSP by then? Do they need to update us on that day?