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Mv01
Been through similar with investors in a private company. This being a public company is a lot more complex due to multiple cornerstones and regulatory requirements.
Bringing in new investors tends to be a very convoluted due diligence process to assess risk from multiple angles. It's tedious and like death by a 1000 papercuts because the lawyers ask so many questions and often ask the same ones from multiple angles, which require hours and hours of admin to provide the responses. Don't forget the lawyers are being paid by the hour, so the clock tends to slow right down!
Existing investors will be going over every single projection figure with an absolute fine tooth comb, as will their lawyers. Again the meter is running for the lawyers! Plus they need to discuss witht their board and fit in with their strategy.
Then try coordinating all of those into fitting into one finance package! it's wheels within wheels and very complex.
Also they've only confirmed the final figures recently, so it's not been that long tbh.
One Time it takes to...
This has been something that I was always curious about:
Why does it take long to negotiate/assess/opine/decide...
It's the naïveté again, but feels things should have been moving faster all this time.
Just a personal feel, don't know if any folks can offer a more professional view in case they found themselves in big corp negotiations.
Some late buys at 3.2p showing up
TSX closed 3.5p
That is TSX.
Stupid phone.
Up over 70percent.
GLA
The RNS is bleak and existing shareholders will be wiped out. Traders will try to pump and dump. Shame because HZM seemed to have all bases covered not long ago.
The publican took his eye off the ball of his hummingbird stock as he spent too much time on here .
The Publican is well & truly back now and lecturing everyone on the risks here after the 99% fall.
This man does not act upon his own word as he bid everyone farewell and yet here he is boring the pants of everyone lecturing them on a future that he does not know.
This Forum is at The heart of the Publicans sad life and he simply cannot live without it.
Who is a poor investor now paul no brains lol?
So we got the RNS formalising interest deferral to April. Good as opposed to something negative published or no word published for that matter at all. Until April end then...
62,297,182 shares
cost them $96.1m USD
worth £1.25m GBP at2p
reckless gamblers, clearly - like the rest of us.
Just can’t leave or stop. That’s sad and delusional. So funny.
Crazy you still posting. Any more solid company ticks. You would like advertise?? Ha ha
Yep Publican. I was saying wipe-out when they first had a cost over-run. Crazy that people are still buying here. Wiped from my watchlist just now. Goodbye folks. Hope you have some better luck elsewhere.
Publican there's some pretty solid companies operating on Aim. Take a look at PTAL, i3e, and if you want a speccy there's DELT.
More than that. Buying in block. Now down to 100 thousand. Keen I would say
If a bid comes. A pound would be fantastic. But I feel. More like fifty plus pence. Say 200 million. Less than steady spent. And seems like they buyers are back. And the rns was well received.
>>Agreed. But instead of funding. Would it not be cheaper to buy the 130 million outstanding shares. Then go it alone. They have more than enough to carry that out ??
How can you do it 'instead of funding'. If you don't fund the mine it is worth 0 so it won't produce nickel. If you buy the remaining shares (which costs you money) you then have to find $600m instead of 51% of $600m?
And as has been debated ad infinitum La Mancha fund invests in public companies. Taking it private will be last resort. Glencore on the other hand might want it private so if they are going to bid for it that might be in the next month. I'll sell them my shares but only for £1+. GLA
Yes I imagine they are actively involved. However, because it's in their best interests to see maximum return of their money, they gain little by 1 month either side is my point. They have to give the deal the best chance of being landed because it's in their interests. They care a hell of a lot more about the $300m capital than a month interest this way or that.
If the lenders 'wanted' the mine, then first opportunity they had to force payment they would have taken. They don't, so the didn't.
Wasa, I don't know the answer to this just guessing but wouldn't the lenders have been given an update on progress in negotiations so far so they agree to the extension?
If I were a lender I'd want to know how things were progressing so I could make a risk assessment.
Agreed. But instead of funding. Would it not be cheaper to buy the 130 million outstanding shares. Then go it alone. They have more than enough to carry that out ??
Sorry just to qualify - it is significant that the banks didn't call the debt, of course it is hugely significant because it could have broken the company. What I meant is, I don't think it guarantees or near guarantees a deal. Whereas I think interim funding will. GLA
In and of itself I don't think this is that significant because - the banks want a deal of course they do they see more of their money back if they do. So they'll give it another month.
I do, however, see any interim funding announcement as hugely significant. I just don't think the cornerstones will put in more now they know the full cost unless there is a very very good chance of a deal and as they are at the negotiating table they will know how that conversation is going. I think that will make or break the company (in the current form) and if it happens I now expect it in April - I forget from the last RNS when we run out of money but feels like the right timeframe anyway since the last cash raise. GLA