Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Looks like GD’s registry business has been busy promoting xxx since it took over the adult strings from uniregistry this week - another sign we must be close to deal completion. Once partner deals are signed off we should be good to go. In the meantime let’s see if we can squeeze some more cash into the business in what is likely to be our last trading quarter as a registrar. SB
SS - it would be good to stay in touch. Worst case - and probably for the next 12 months - you know where to find us!!! SB
Many thanks for your kind comments guys...I will.leave an email soon and perhaps we can exchange ideas in the future...atb
Sunday, it has been a honour discussing with you on this bb over the many years.
Your contributions have been invaluable to many, you have always been a " straight shooter" and for that I have always admired you.
Hopefully our paths will cross again perhaps on another common investment. You will be missed, good luck with all your investments.
Your fellow investor and friend,
Norrab
Sundaysun
As disappointing as it is to hear you are leaving, I fully understand your reasons for doing so. I have been tempted to take my position off the table for some time and sold down a few shares recently for other investments but have retained the majority of my holdings here. I suspect I’m here to the end!!
The reality is we have had no return here for 10 years; and the only positive from the sale is the recognition there is value in the business albeit at a lower level than would have justified the length of our investments. As you say there have been some dark days in the company’s history; and the ability to share our thoughts with fellow posters has often brought much needed relief. If I have been of any assistance then pleased that my thinking/comments were useful – I have always tried to provide some reasoned analysis especially where the company has been less than helpful with its communications in dealing with its multiple business and management team car crashes.
I wish you all the best with your future investments; I have enjoyed reading your posts over the years and the various discussions we have had. I won’t be the only one to say the mmx bulletin board will miss your input, as will I. Cheers and ATVB. SB
I am finally sold up on MMX after nine long years .I decided to sell after the last RNS...nothing wrong with it ,other than a sense that there will be a delay beyond the 7th August and that as a result a payout will probably not happen until December...
I have been ,in the past years investing heavily in Bitcoin and Ethereum,ironically as a result of the .Luxe wallet .I see a once in a lifeline opportunity in the crypto arena ,as opposed to a 20% upside here and an unknown entity looking into the future.
I've concluded that it's actually good for me on a personal level to leave this company behind...As for most of you ,it has been stressful and a total waste of resources,still I consider myself fortunate not to have been wiped out by an endless succession of fantasists ,incompetents and fraudsters...
I believe that you will conclude your sale ,and with the help of SjL make something of MMX2
I would like to thank many..Bonum Norrab 2crazy.Huckster Tinklepop BK Dan Mills and too many others to mention.
My special thanks to you Silverblade...In the darkest hour ,last year,your company here was not only valuable but something of a therapy to deal with the magnitude of the disaster.
Farewell and my very best wishes to you all.
Sundaysun.
Agreed Sunday - just say it as it is! The other positive I take is that the other conditions precedent appear to have been sorted - which I assume means china change of control has been granted which is nice and positive and removes that as a potential issue. Hopefully not too far away now - but could be end of year before we see any distributions and that assumes we can still get over the line in the next two months. SB
I think you sum it up well Silv...If they need to beyond 7th August ,then why not just say so..cant help themselves ,I think.So far so.good and heading towards the final sale in what is a complicated process ,given the partner deals etc..
I'm.not sure we will have a trading update...just a cash balance post completion....atb
I guess this RNS provides a bit of reassurance the deal is still very much alive; albeit it would appear 5 of our TLD's require a bit of work to secure final approvals - presumably those with shared ownership/partner deals. We were 'selling' 28 TLDs and it would now appear the deal is for 27 - so one of our JV partners appears to have used a pre-emption to secure the TLD (Law?).
Looks like the 'transaction' will not complete until all 27 are transferred - so I assume this update is a precursor to a delay in the long stop date of 7th August.
Still not sure what is going on with Chinese 'shopping' TLD which is not part of current deal.
Wonder if we will get a trading update on H1; the company should still be updating shareholders on its business operations.
As usual with mmx comms - could do better......SB
Morning Sunday. Feeling a lot better thanks - not the most pleasant of experiences so glad its in the rear view mirror now. I hope we managed a decent H1 performance and have added to our trading cash position - c.$2.5m should be achievable for H1 and would take us up to 9p net asset value if transaction costs and exchange rate remain as per previous. I guess the market still places a risk premium on whether the deal will actually complete - and then there is the issue on what level of pay out the company will make and when, and the level of cash retained in the business. The $12m escrow (presumably 10% of the sale value) would also have some level of risk attached given there may be some conditions which we need to discharge (transition services?) before it is released - and finally the uncertainty on what exactly mmx2.0 intends to do as a cash shell.....as usual I'm sure we'll be last to know! On the plus side - we should get some kind of an update in the next 2/3 weeks! Cheers, SB
One month until the official completion. Time does drag when it comes to MMX...but still the market offering a heavy discount...
Hope.you are recovering Silv ...atb Sunday
It’s all been a long time coming. It will be good after being in this share for years to finally get something out of it. Had to average down a number of times and I hold far more than I wish…but glad that soon we complete
Good morning Silv, To be fair,its as expected .I've had one or two situations like this, where all that matters is seeing the deal over the line..I'm a little surprised ,if pleased, so see director buys at this stage...something of a heads up,I feel.
It does seem that the business has gone to sleep since GD made its offer Sunday. No update on the great release (maybe not so great after all...); web site hasn't been touched - major shareholders way out of date (No SJL holding; L+C and Lombard incorrect - and still unclear as to who sold a pile earlier this year); the only positive is someone is still buying albeit not exactly in great volume. Sooner we get this over the line the better with a clear plan - surely that's not too much to ask. SB
I thought we might have had confirmation of ICAAN approval via domain wire...but some good healthy buying in the meantime.
The share price is slowly getting closer to the deal net asset value norrab - and if these purchases continue to be made by Lombard that can only be good. Just need to make sure the exchange rate remains at its current levels to avoid any value erosion. Can only assume china approval is holding completion up. SB
900k (shares) bought at 7.5p this morning.
I think/hope your right Sunday. Lombard have bought c.3.5m shares since deal was announced. It would be unusual if they were ‘loading’ up at c.7p to make a potential 2p per share profit ie up to the net asset price - although its easy money. Perhaps Lombard have an investment they would like to bring to AIM and see mmx as the route to achieve that with the cash left in the business treated as shareholder equity. H1 done. What will H2 bring!!! SB
Good afternoon Silv...I believe that Turcan's buying is a good indication as to how this is progressing..We all know from years of experience that this self serving BOD know a good thing when they are on to it...His milking the last drops is in keeping....and for once serves as an indication to us...
Aug 7th is the long stop date for the conditions precedent to be discharged. If they have not been met by that date, the deal timings may be extended, the deal could lapse or GD may just do the deal and tie in the remaining requirement into the escrow period - ie March 2022. I think we hear from the company in the next few anyway - trading update/deal update - reality is deal could close any day. SB
What makes you think that date?
I think 7 August 2021.
When is completion?
Another Tr1. Looking good. Looks like more to come before the completion. GLA
Wish you a speedy recovery, Silverblade :)