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Waiting on them as usual, but they have told us the bones of what to expect, albeit now 6 months behind.
It’s the debt ameliorisation needs clearing, and any surprises, though nothing would surprise me with Mxc’s dealings with investee companies - to ultimate Mxc advantage of course, if they can swing it.
Results are due by 30th June... it was the 29th last year they announced a delay. So we'll see this week I guess.
I am not high on hopes. I could have almost had a bit more hope if MXC was an ongoing concern with a reputation to manage. But as this is a case of them recovering as much value as they can while they can... there is little hope for us.
Still, at least I'll have closure soon. It's been six years since I started this journey at 37p a share.
They can’t use covid as a reason for a delay - I have sent two emails now on the date of the results and not even have an acknowledgement! That’s the trouble with several large shareholders - the rest of us are ignored. Don’t forget MXC are not the only party with debt - you would think they will agree the same conversion price across the debtors (presuming a D4E) but it might be that each debt holder will have their own objectives... also the company was trading well at the last update so I am hoping the recent drops are more to do with sellers and market general sentiment on small cap shares
Oh they'll cook up something if they choose I'm sure :) Call me a bit cynical. "Due to the significant changes in the business it's taking longer than expected..." or some such. Let's hope not though.
I'm not feeling hugely positive as IDE took out that loan without notice of explanation and couldn't/didn't pay it back... so I wonder what that's all about.
With no RNS updates, no perceptible marketing... it just feels a bit ghost town. I even notice they had about six roles vacant a few weeks back and now none - they're either efficient recruiters or are on a hiring freeze.
“I could have almost had a bit more hope if MXC was an ongoing concern with a reputation to manage”
I won’t comment on reputation but they’ve been ‘sharp’ operators. It’s still on going, with disposals to make over next couple years or so. NAV after last shareholder return was £34.4m., about 15% each down to partners WEAVER, and SMITH who runs IDE. So they’ll want to make the best of assets including IDE - a lot of their own money at stake.