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Thanks Ismalia. The latest announcement I can find on the Aquis website is at the link below, which has been pasted in one of the earlier threads.
https://www.aquis.eu/aquis-stock-exchange/member?securityidaqse=NQMI
Their detailed announcement is on the Aquis market board. Signed off by Leni
Indeed, it would be very interesting to hear anything the company has to say. Silence hardly builds confidence. No press release or any communication from NQ that I can find.
Mnuttall69, could you post the correspondence you had with the company please? If would be interesting to hear what they had to say in response to your enquiry.
Regards,
Bugerov.
Had correspondence with the company this pm and lets remain supportive and faithful for all their efforts
NQ MINERALS PLC GBP0.001
Event Type
De-Listing
Description
Delisting
Effective date: 2nd August 2021
Market affected: Aquis Stock Exchange
NQ Minerals plc has cancelled its listing of Ordinary shares from trading on Aquis Stock Exchange. This became effective on 2nd August 2021.
As the shares will no longer be trading on a supported stock exchange we will endeavour to provide you with a share certificate in relation to your holding, should one be issued by the company in the future.
Just had a corporate action notice that NQ is delisting. What will this mean for us all? In the US rhe lawyers would be all over this like a rash especially after DL at the end of May was publicly singing its amazing virtues...is this a whole right off?!
Third paragraph says the there is some doubt in the ability of the company to continue as a going concern without a restructuring so knowing this the BOD would have been obliged to suspend so as not to incur any further liabilities they could not meet. I wonder what the 55m has been secured on. We will see but it may take time.
I think the problem is that it is hard to have faith in a board that quit. Last count was 5 have left. A bit question is why? Also, they have been trying to refinance debt for some time, nearly immediately after activating the 55 mill facility from ING.
To me it looks like a very nice, profitable facility at Hellyer and an over eager expansion plan that they can't now pay for. I hope they can refinance otherwise they will be selling off /restructuring to pay the bond holders.
What an earth are you on about?
They requested to suspend not the other way around?? They are in the process of arranging re financing to reduce the interest rates not make it more. They already secured 55m with ING and the rest is 90m. All mines have big debts but why is everyone always so negative. They have 1b in gold at Beaconsfield and huge Nickel resources. Have some faith in the board and I am sure we will see a positive outcome.
If this follows the usual route we could hear very little. Workers will want paying as will suppliers. Interest will bite on the lending and any refinancing will come at a heavy price. We are locked in so can do nothing but wait and if we can servive then the dilution will be huge. Hope for the best and expect the worst.
Does anyone have anymore news of the situation at NQ?
I am affraid we have to fear the worst. Over trading I suspect and they have always been raising cash to fund day to day expenses rather than investing in the business. I don't have £80k invested nor does DL but no doubt he has drawn his salary. Debt is high and so is the interest, just have a look at the recent published figures. If we servive there will be massive dilution and the sale of assets. Not good.
Sam - I have over 80k in NQ. You really think the board want to sink the company? Post like that which in the past have driven the sp down. NQ mining operations are solid and continue to make profits. If they have offers on the table for refinance its about picking the correct one so all parties are happy. Have you spoken with the board and did they suggest its not viable? NO
I do not think they new the bond holders would have issues with the new structure and had they been then I think accounts and refinance would be done now. It's not an ideal situation but Aquis is not the worry at the moment. NQ requested to suspend not the other way around so don't get things twisted.
Why not just get behind the current board and NQ and lets all do what we can to support them.
LOST THE LOT ? Board clearly feel company is not viable. Looks like I have lost £800 . Thank god not more
Many thanks Pipmaster; I hoped it was linked to that as you said. Agreed Aquis is not the best, a main listing shoild be much better...fingers crossed.
You can thank the bond holders for this one. They would not let the re finance happen. Aquis is the worst exchange and this will end up being a blessing for NQ. Get the re finance done now and finally get the upgrade to LSE.
Noticed the following RNS posted today, but nothing listed on here? Guessing the same company?
Seems crazy as the mining is going well?
RNS Number : 1399H
NQ Minerals PLC
30 July 2021
30 July 2021
NQ Minerals Plc
("NQ" or the "Company")
Cease Trading Request to London AQSE
Director Change
Appointment of Begbies Traynor
NQ Minerals Plc, the green mining company, has today requested that the Companies shares cease trading on the Aquis Stock Exchange, and any other dual trading exchanges, with immediate effect.
Following the series of resignations from the board of directors this year the current board have worked tirelessly to produce a set of accounts which correctly reflect the position of the group. With the information available to them at the moment they do not believe that they can approve the accounts for the financial year ended 31 December 2020 as there are several issues within the accounts, still remaining to be resolved to the boards satisfaction. Accordingly, the production of the accounts will be delayed, and the shares suspended.
The Company has appointed Paul Cooper and Paul Appleton of restructuring specialists Begbies Traynor Group plc to advise the Board of Directors on its restructuring options as the Board are of the opinion that the Company's ability to continue as a going concern is now potentially in doubt.
The Company also advises that Mr Kevin Puil has resigned as a non-executive from the board of directors of NQ with immediate effect. His resignation is the fifth director resignation this year following the earlier resignations of Walter Doyle the ex-Director/CEO, Roger Jackson ex-Executive Director, Colin Sutherland the ex-Director/CFO and Allen Ambrose ex-non-Executive Director.
Senior roles and responsibilities within the Company have been taken up by Adrian Moroz, who has taken on not only the CFO role but has also been appointed interim CEO. Mr Richard Poulden, an experienced corporate executive and barrister, also recently joined the Plc board. At the subsidiary level, Mr Stephen White remains NQ's director at Hellyer and is key to our operations. Mr Pierre Richard joined the board of NQ's subsidiary in charge of Beaconsfield and is running the plans to re-open Beaconsfield.
The Companies main operations in Australia will continue to operate as usual.
-END-
About NQ Minerals
NQ Minerals Plc ("NQ") is an Australian mining company focused on the environmental rehabilitation of former precious metal mining operations and the extraction of minerals required in clean energy delivery including gold. Its stock is traded on the UK's AQSE exchange (AQSE: NQMI), the German Frankfurt Exchange (FSE: 44D) and US OTC Market (OTCQB: NQMLF). It also has a 1:100 ADR traded on the OTC Market (OTCQB: NQMIY). For further information on the Company and its projects in Tasmania and North Queensland, Australia, ple
Why does even go into panic mode and start selling lol. They are upgrading to LSE in coming months just the MM doing what they do. NQ minerals have just added richard pouldon from wishbone to the board. The top performing mine on AIM in the past 12 months. They will be announcing re finance and audited accounts by end of aug. Hopefully with Sep/Oct upgrade.
Get a grip people and look at what they have. Aquis is so bad. Nq is 100-150m market cap once its moved mark my words.
I've no idea what happened, Sam. I saw the drop yesterday but despite research I couldn't find out why.
I don't hold shares in NQ Minerals but I am a bond holder so have a vested interest in what is happening.
After the heavy fall yesterday my interactive account is showing n/a against share price . Does anyone have some news ?
Down a further 16% today . Oh dear
Its listed on Aquis which has poor liquidity. They have out grown the exchange and moving to tier one. The companies profits are growing year on year. You cannot look at the share price and use this as a wage on how well this company is doing. Anyone with half a brain will average down if they need to as this is one of the most under rated mining stocks. Listing will come soon and everyone will be laughing at all the **** talkers.
But why is share price daily falling back then ? Now down 16 per cent for me!
This is nonsense. If you look at Walters track record this process is normal before upgrade. Sirus minerals went to a billion market cap and he left the board before that hit its peak. NQ is about to fly just do your research. They have been raising private capital since day one so its nothing to do with him leaving. NQ making Big moves.