Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Yes any RNSs will issues by NOMAD for any AIMs companys . That is why regulations differently compare with other exchange .For the record how can a company issues a rns very good on progress and one one later there was a rns said the need 35 increase to finished the building . Anything will decide by NOMAD and what they can issues whatever they find its best interes to them . Hard lesson to learnt.
Bistromathmatics!
Still struggling with how you get 70% throigh a mine build with $400m spent and $200m remaining to be spent, then realise you need $600m more. Even allowing for shutdown and restart costs that's an epic miscalculation. Maybe they just hadn't tackled the hard 30% yet or something.
I can tell you how - It's called G R E E D. It trumps all the usual amateur investor logic and calculation about fundamentals. Fundamentals and logic apply better to companies that are within a more "strict" regulatory framework. You think Jeremy Martin would be free to waltz in another cushy job if he was CEO of a FTSE250 or 100 company? No. AIM is 99% filled with cowboys. You all chose to put faith in it.
Oh and 750K afford to lose? Hate to say it but anyone on these forums that says they have 750K they can afford to lose is lying. Especially after the previous years of incessant ramping
Now as to why I say the current market cap is BS and as to why I say the current sp is BS and by consequence why I think any argument built on current mcap and sp is BS. We rely on RNS.
Just imagine, for arguments sake, come next tuesday there is another RNS for another 20mil injection for interim funding.
What in the heck would that do to the sp?
It really is irrelevant.
Until the fat lady sings... for the last time...
I'll go on a limb ahead of wasa and give my unbiased figures [not what I wish, those I see as sensible].
If it will be a placement by a new shop: 50p to buy the former cornerstones out, capture the licences and mine, capture the 60-70% built at a premium of 150mil. You all say now a mine takes north of a bil to build, this is a pricetag of about 1150mil. 1010 in the debt + 150 on the sp.
If it is a partial subsidy, i.e you bring in a new cornerstone with more share issue, and have the existing corners participating at par percentage to their previous equity holding, then truly here they can all really go very very low: 1p.
[but assumes that if say 200-300 mil need come in as new equity, that EACH of the existing corners can put their share in, else they lose everything] - I see this as unlikely.
If it is some combination of new money from a new cornerstone + some contribution from existing corners but at a highly distorted percentage contribution as related to the pre-new equity release percentage, then I see it in the range 20-30p. else they get massively diluted again, hence hard on them to be incentiviced to put more monies in, at an ultra low price to write-off their former pre-new equity release funding.
scenarios 2-3 are highly antagonistic, and at odds with each other. I suspect that is where the conflict is: Not all corners are willing to put new money in at proportion to their existing equity share hence cannot attract a new buyer at a high price. They will be trying to push to dept, and having it tough with the banks.
I really think we are at odds now of 98% of unavoidable admin. I think we are in stale mate.
Since 2nd October, everything anyone has done has made this situation worse. The company’s mismanagement is staggering. Hats off to those fickle shareholders in recognising the mismanagement, but in them leaving it crashed the shares. That’s made the new management’s job harder. The old management rushed to the market with the bad news having no quantifiable figures, other than a finger in the air, of the true shortfall. The new management had to revise the figures prompting another share price crash. So they’re trying to negotiate from a woeful start. Impossible! The mine will be finished but the terms now will be dire. I know that I haven’t got a clue what the negotiations will produce. The key has always been what the cornerstones are will to give away. Currently any new investors will be getting this for a song. I’ve put my calculator away for now as I’m just hoping for the company survival.
I’m still holding.
Wasa, same approach here. Come what may...
When you say total or near total wipeout, if they get the funding what would the new world potentially look like it in a near wipe out situation do you think? and 12 months now? What sort of range do you see the SP at?
We've done the apocalyptic scenario, I'm just musing on the wipeout but company survives scenario, particularly a year/18 months from now.
Market expects total or near total existing equity wipeout clearly. It might be right.
Still struggling with how you get 70% throigh a mine build with $400m spent and $200m remaining to be spent, then realise you need $600m more. Even allowing for shutdown and restart costs that's an epic miscalculation. Maybe they just hadn't tackled the hard 30% yet or something.
Just to stay positive I've written off my investment (it's worth around £10k at the moment on £750k spent). Suns shining still plenty to get on with in life. Only invest what you can afford to lose etc. Gla
I think they will get the money, the mine is still voable at that capex (probably tight but they can recover more by expanding it later, as in, the investors). I can't see it being on good terms for existing investors though (but happy to be surprised). I am also pretty sure thry won't hang around now because every month that passes is expensive.
To put it intonperspective since the original rns, 6 months have passed to raise $600m but this period included defining the requirement for $600m. The original finance deal took at least 2 years to negotiate the $633m or whatever was raised. So in thr timeframes required to raise $500m+ this is not a lot of time yet and the fact there is no deal yet does not mean there will be no deal.
It will go either way, in q2 I think. We will have the answer. Gla
Horizonte estimates the full funding required to complete construction and bring the operation to positive cashflow is US$567 - 592 million. This consists of the Project CTC of US$454 million, as announced on 19 February 2024, plus US$89 million of pre-production costs, ramp up costs, general & administration and working capital required to bring the operation to positive cash flow, and US$25 - 50 million that relates to transaction costs and a minimum cash contingency.
How easy to get a load with this amount of money? If they only got something underground so how secure the load will be? This will be sell off and new co will take over , That is all shareholders get in return.
Wasa I think the joke is on the mcap and the sp.
It’s the one true random thing.
But personally I am really getting fed up, to very bids to be frank, with these inconclusive semi definitive brazilian soap opera (pun intended) drama like RNS’s.
Just effing pull off the final done-and-done break or make RNS already you guys at the BoD.
Enough!
The sp and market cap mean exactly nothing to me…
We still rely on that last fat lady song…
Craig and I had comfortably well north of 50% of todays mcap, and possibly closer to 100%. Today its La Mancha + Orion + Glencore at the same value holding. Big players indeed - I kind of see the funny side (maybe Craig doesn't)!