Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Lots of interesting debate. Fundamentally I’m here to make a min 3 x investment so somewhere north of 23p a share. Timelines- I’m guessing c.18-24 months. Risk of finance and build issues but the one bit here I’m not worried about is the resource or ability to access it!
Craigie
For fund raisings normally is VWAP over a certain period. Not sure how the cornerstone prices will be determined
The thing is can the price be manipulated to meet one's agenda.
I think we can agree ,we the PIs all want the price higher to minimize dilution, but another investor may have another motive to have it lower.
Its a real possibility that we could see the fund raising from the cornerstone and top up final equity piece at a higher price than the recent raise at 7.5p and of course today's price. I certainly hope so anyway. At the point the final equity is sought, the financing package is already agreed and available but is of course subject to the equity completion. With this in mind, the NRV of the project and its linking to Nickel price could well be part of the term sheet and hence impacting the funding deal share price. There must be a mechanism to decide the price for both parties as the cornerstone process is a price setting one while everyone else will be price takers. Further to that the finance risk is removed and only build risk remains - so higher pricing could again be justified. Maybe a combo of HZM VWAP and current and forecast Nickle price - I don`t know what it is but there will be a mechanism
It will be interesting to see what happens as we progress to the end of H1.
Times like this I think stepping back a bit helps. Draw the chart from January last year to today. It zags about a bit but the long term moving average is one way only. There are definitely other opportunities, I'm not far behind you in volume now and the temptation to diversify is always there. The reason I haven't is I see this as a low risk play for a potential high return. I've done well on some riskier plays elsewhere, but have banked the profits into here.
I seriously think this could double every year for the next four years, there are not many companies out there that you can realistically say that about.
Hope so PP.
I think all mid or LTH, and some not so, do accept that this has been a s*it time to try and sort a deal. Especially in a country ravaged by CO19, and with not the most stable Govt setup etc.
Fair play.....
But, within all that understanding. This has slipped several times, even in my ownership lifetime of just under 2 years. Nevermind others.
So about now, a very erudite & respected CO (as JM clearly is), needs to earn his corn, & deliver.
It's pretty blunt. But that's commerce mate.
If it lags more than the already accepted delays, without deal or takeout (strongly in favour of the former personally).
Then serious danger of loss of support on cards am afraid. AIM as proved is very fickle, and many other ops shine. Falsely or otherwise....
Cheers.
I don’t thin JM should or will do anything to respond to the day today vagaries of the market. The drop is on low volume, but there are more sells than buys by a small proportion. I suspect a number of buyers are sitting on their hands with the hope that the public offering would offer a better price than the open market, that may be enough to create the trading difference. I think that’s a bad strategy. I doubt the public offer will be below the price of the recent raise, so right now you can buy at a discount.
As for the finance, it seems very likely to happen over the next couple of months, the company doesn’t entirely control the timeline so I can’t hold their feet to the fire over it. I’d prefer it to be in H1 to avoid the noise if it isn’t, but if it is early in H2 I wouldn’t care much.
I think TDTs point about the long lead items or lack of them is on point though. There is more going on than we are seeing here, I can’t help but wonder if there is an offer in the background.
It is what we all want and are here for. Not sure PI’s bleating about it on a BB quickens the pace for either the financing side or the company.
I agree it’s frustrating that the price is sliding. More so as I’m fully loaded elsewhere or id be topping up.
What I am talking about..... is a need to advance financing on sensible terms pronto.
Isnt that what we have been promised for many many months.
We are now getting close to the latest slippage of H2.
Be nice to think that this will deliver without going to the wire or beyond.
If been in for a good while.... it's what we all hope surely?
What are you talking about? JM doesn't need to calm anything. The company has consistently repeated that solid progress is being made and in the most recent RNS re-iterated that mantra. We are drifting down mainly due to a very annoying and indiscriminate seller who is bashing out stock on a daily basis. One look at the trades each day would tell you that.
that makes no sense - you'll only get the opportunity to participate if you're a holder
Depressing SP for now.
However, opportunity to add for new investors, or those lightly engaged so far to date perhaps.
Realistically this one needs news on finance though and soon. As despite a couple of strong assets. It's just drifting downwards now, & no flowery potential speak, JM needs to calm the ship.
I thought his performance on recent Webinar was very good. But very good hasn't advanced a dipping SP clearly.
Here is where a good executive earns his money....
JM.... time to gently step up my friend .....
Cheers.
We need an rns for suspension of trading. We might not even get an offer to participate in the next placing. I know he's said we would but it might not happen.
Would be a shame then if an offer came.
....some are selling in order to buy back in the retail offer.Personally prefer the certainty of buying in the market.