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Thanks for your first post advising you sold, when no one ever knew you even held.
‘False info’?? Just poor deramping without any substance.. very confident here of something by the end of the week, time will tell!
As you can see, I do not post.......... but I think it only right that everyone sees the truth. That last reported buy of 61,366 was my sell, for my reasons. Don't be influenced by false info. As always DYOR & good luck.
Any idea what was going on here.. we have 3 more working days to meet the 31 Jan deadline, have they got something ready?
Something afloat? Seems like a few buys going through at new highs......
Sammy. It is not quite as simple as that. The Bod have stated they will put it to the shareholders and not admit their own (the BoD's) ordinary shares to the vote. So it is up to the PI's.
"The Directors note that as disclosed in the prospectus dated 17 July 2019, if an acquisition has not been announced by the end of January 2021, the Board will recommend to Shareholders either that the Company continue to pursue an acquisition for a further 12 months or that the Company be wound up (in order to return capital to Shareholders, to the extent assets are available).
The Board's recommendation will then be put to a Shareholder vote (from which the Directors holding Ordinary Shares will abstain). "
I assume that there will have to be an RNS next week, not least to state their updated Corporate Strategy position in terms of the 31/1/21 acquisition deadline. I would suspect that the date will be extended unless a RTO or acquisition is very close. Exciting times here. If an RTO is announced then the multi bag could be significant with a suspension in trading probable until the details are finalised. Today could be the last chance to top up. IMO. DYOR
12% turn around in 1 hour
Yep the worm is turning here
I think so!!!
More buys:and down:will she turn blue today?
This isn't on AIM.
Very little free float of shares here.
One the few shares on AIM where the MM’s don’t have complete control.
Any sustained buying pressure and the SP could easily double even on no news. Many GGP sellers will be looking for a new ‘punt’ and if MUST catches their eye and a small herd arrives then boom. GLA. DYOR
with net current assets of around £300K means this is ready to rocket.
Up1.85%,it moves on very small volume either way
I would think this indicates news very soon, either way:
"The Directors note that as disclosed in the prospectus dated 17 July 2019, if an acquisition has not been announced by the end of January 2021, the Board will recommend to Shareholders either that the Company continue to pursue an acquisition for a further 12 months or that the Company be wound up"
Morning All, down another 5%, any thoughts or information that reassures us of some news soon ?
Clearly.
There are ways around a conflict of interest if the value is there.
MUST are looking for exactly what LCCM is:
"target an Acquisition where the target company or business or asset(s) has a transaction value of between £2 million and £50 million"
"The Company's determination in identifying a prospective target company or business or asset(s) in the energy or natural resources sectors will not be limited to a specific geographic region, stage of development from exploration through to production. However, it is the Company's preference that the target is generating cash flow or has the capability of generating cash flow within 12-18 months of acquisition."
You are running to a tight timeline:
"The Directors note that as disclosed in the prospectus dated 17 July 2019, if an acquisition has not been announced by the end of January 2021, the Board will recommend to Shareholders either that the Company continue to pursue an acquisition for a further 12 months or that the Company be wound up"
What sort of signal will if send if SML/LCCM is not considered a suitable target. How are we to have any confidence in LCCM if our own BoD do not consider LCCM a suitable investment for one of their own companies, when they are actively looking for exactly what LCCM is?
"Board hold plenty of stock . They'll not smash themselves with dilution" Quote of 2021. I am guessing you haven't researched your BoD.
Omg did you actually write this just dandy?
“Even if they issue another 8m shares at say 40p to raise £3m there would still only be 16m shares in issue. Very exciting shell.“
Sorry I'm trying to stay away but seriously? Nobody is going to comment??? They don't just decide, hey let's raise 3m quid at 40p per share don't worry that's 3 times the sp I'm sure someone will buy!
Placings are given AT A DISCOUNT to the sp...
And this bs about tiny number of shares.... Irrelevant. If must ever does a RTO it will be issuing many multiples of shares to the target of the RTO. This is a cash shell that's the whole idea... But in dangerous territory now funds wise, an RTO is expensive.
With only 8m shares in issue, this must be worth a dabble with some of my ARB profits.
GLA Supertag
3 best cash shells in my opinion are - MUST, MMM and ORM. My reasons are as follows -
1. MUST - only 8.4m shares in issue , £400k cash, Directors confident of an exciting reverse. Because of the ridiculously low amount of shares in issue the right deal will see this multi bag several times. Even if they issue another 8m shares at say 40p to raise £3m there would still only be 16m shares in issue. Very exciting shell.
2. MMM - more expensive to buy into and I reckon similar cash position to MUST. However, they have announced a potential investor who is considering purchasing 30% of the company. No guarantees the investor will or at what price but talks ongoing.
3. ORM - the largest cash shell of the 3 and in a very exciting situation. Company has £6m in cash and has advised shareholders they have signed heads on what they regard as “an exceptional opportunity” see extract below. ORM is the most advanced cash shell on the London exchange, has the most cash and has signed a deal to acquire an exceptional resource target.
Jonathan Henry, Ormonde's Chairman, commented:
"Having completed the disposal of our interest in the Barruecopardo Mine for a €6 million cash consideration, the principal focus of the Company has been on the identification of a compelling resource opportunity.
In this regard, I am pleased to advise that the Company has recently signed an exclusivity agreement, and commenced a due diligence process, in relation to what the Board believes to be an exceptional resource opportunity. We very much look forward to advancing diligence on this new opportunity towards completion of a transaction, the aim of which is to create substantial value for shareholders, and we look forward to updating shareholders on progress in this regard, in due course."
In summary all 3 shells offer excellent near term transactions and massive upside should they acquire an attractive target.
yes, saw PNPL, already mcap double their cash similar to MUST.
other shell which just above cash and not yet double their cash is ORM
and another new below radar shell is LBE, only priced at 8m mcap (their cash at 8m)
Looking good here. But if thinking of a "shell" in the resourse sector then take a look at ASMO on the Aquis market. There has been a recent and modest raise, new Chairman and CEO on board and it could be an interesting year for All Star Minerals. It don't cost anything to have a look and take a view.
GLA and let's hope it will be rewarding.