Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The delay in finalising the proposed takeover, then publishing the AIM readmission document and now this loan facility (certainly not really on favourable terms to LSAI) does not give me much confidence in the Company. However, not too bad for all those on the gravy train. It is always the retail investors that will be left behind.
So basically Sorted have spent the £2.5M that LSAI initially lent it?!
Big money at stake here if cash burn like that, and considering the holders who knows where this is going
Bidco 3 ltd is a company controlled by Richard Hughes. At least it shows he is still supportive of the deal and isn’t a spivi loan provider like riverfort etc.
18% interest …..And £125,000 ….Arrangement Fee ….
Days to go, only got to do this to stick to what was said,The Company currently expects to publish an AIM admission document (the "Admission Document") in respect of the Proposed Acquisition by the end of January 2024 at the latest, following which point the Company will seek the restoration of trading of the Company's ordinary shares on AIM.
Sorted have a history when it comes to funding, but I can't see that they have been Accounts overdue before
31 Jan, by the end of January we were told in last update doesn't mean it won't happen if they go past that but I do wonder whats going on
Where is the wire? Losing the will to live here.
To the wire
Fingers crossed we will have something to look at soon.
Two weeks and we will finally see what we have been waiting for.
Hope it's worth it
Came and went.... Overdue.
Hopefully HappyRob !! This share is a real test in Patience as I've held since 2016 !!
Probably hear something within 3 to 4 weeks from now, I am hopeful this time next year the share price will be something to get really excited about.
Any predictions?
I’m not thinking short term here, I believe it highly likely long term even more, different people different product however I don’t believe we seen the last of verify which could possibly be used somewhere in the new company.
I highly doubt it’ll see 3.5p anytime soon if at all ever again. If it relists at 0.2p, 3.5p will be 17x away - highly unlikely IMO
Whatever it starts at is there any reason that it will not soon be back at the 3.5p that LSAI was at on nothing but hype, considering all things and the people involved.
A lot of Sorted’s assets are likely to have been wiped out in the last year of trading, hence why would they need to liquidate if they had realisable assets.
I’m hoping for 0.2p bare minimum anything more is a bonus. 0.2p re list price will give a MC of roughly £12m or 0.3p would give a MC of £18m after raising an additional £5m.
Ideal scenario would be no raise with retail whatsoever, all warrants converted into shares at 0.2p that’s roughly £4m or so, raise another £1m with Sorted management to align them with Concert party. Even if it was to relist at 0.2p this scenario would mean the shares remain just as illiquid as when they suspended, add a bit of good news which I’m sure they’ve got news items lined up to tell the market considering the RTO process started almost 6 months ago, and we could be looking at a flier.
interested in other peoples thoughts for return price and sorted results drop soon interesting to see;
my back of a *** packet calculations:
lsai current market cap/cash £4m @ (0.14)
possible new shares up to £5m say drops price to (0.07)
new market cap £9m at (0.07)
sorted debt - £6m
sorted assets £30m
potentially rough £27m market cap will equate to £0.42 starting back price.
Looking forward to seeing the terms of the deal in January. Keep telling myself these guys surely wouldn’t do a deal for less than their entry at 0.2p. Suspended with £4m+ cash also, they would look silly if a deal is done for less than 0.2p after taking almost 3 years to find one when they’ve all invested significant sums at that level.
Dare I say - Can't get much worse than what it already is.
Depends if it transforms things for the better or the worse Mr UN! But hopefully you are right.
Transformationable deal sounds good.
Whatever the SP relist at there will be a stampede to buy IMO
By end of Jan 24 happy new year