Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The problem here is the Redeemable preference shares
23 ask 18 bid
I doubt many will beat that spread
Not in but gl!
oh yes, easy 5 bags.... Celadon is 10 bags on its own. But its hard to buy so the pump crew will have to pony up to get some ;)
$3.9m cash at end of December
Sold investment for recently $2.1m
Total cash: $5m-6m.
Mcap £556k
75% held by major shareholders
To get back to cash balance this is a 5 bagger. If they manage to liquidate any of their other assets you can add a few more bags.
whats going on here then?
There has been a lot of investigation and analysis of what went on at Origo.
Maybe time for them to start thinking about how things can be redirected, renewed and rebuilt?
A new company strategy, investing policy and company name perhaps?
What a refreshing Chairman's statement, where he basically calls the previous board incompetent at best or a bunch of crooks at worst, depending how you read it.
Maybe now this company will be run properly?
Got that wrong... Lol
Only SAVvy investors need apply
Nothing proven yet. This is speculative as Cam said before me. Research it, choose whether to buy at ticket and wait. There are a few of us in at these levels. My average is probably around .25, but have picked up some at.18 and .35. don't bet the farm. if you want a more solid prospect, INFAmous STAR shares can be found but not NeCCessariLy with the correct spelling.
You were bang on there sir, fair play
Cam's summary a while back. This was the investment case that drew a few of us in even before the news this morning... "22 Jan '19A few more people looking in I've put a little bit of research bellow.
*** This play is about as speculative as they come, a lot of ifs buts and maybes, a lot of reading between the lines... But could offer a lot of upside! ***
For every $10m returned above and beyond $15m it adds around 1.3p to the share price from the current NAV of 0.60 (ish)
Assuming a $200m sale on Celadon we would be looking at 1.9p ... $400m = 4.5p
Again this is about as speculative as they come so certainly don't go putting your house on it!
I'm hoping for anyone who has just bought in that your timing has been impeccable!
Best of luck all."
it could indeed take a while... and ?
That said... They sold an asset for $2.1m USD a few weeks ago. Small fry in the bigger picture tho.
I'm with MT... a lot more at stake than £14m.
Strictly punt money and patience of course... imo.
It's all conjecture. None of us know. I guess thats teh risk you take some getting in early. Is it going to pop? They said further news to follow shortly in RNS.... IF conjecture is right though?! You'd think though that if an ex US Prosecutor finds "cause" for sacking the investment advisors, legals would follow and I think it'll be out of court settlement give those involved. Not sure how long that takes.
But this could take a year or 2
Read the last year's research in this bb babbler (won't take long). Much more at stake than £14m imho. Dyor. GL
Basically you will get whatever is left once liquidated. NAV was $14m? MCAP £1m?
First up any new investors should know that the old BOD we're sacked by the two major iis shareholders. The new BOD are experts in cleaning up 'corporate havoc's scenarios aiming to recover £ for shareholders. Current BOD are straight as arrow. One is ex US Prosecutor who dealt in high end white collar crime. The As who have been sacked today are linked to the old BOD. They gave much of the horrendous investment decisions about investments in China/Mongolia etc. Research this for 1 day and you'll see some mahoosive
'goings on' and some very large £numbers at stake. Just so happens the brains behind the old company is one of the richest men in China. That's why I say this is never going to court.
Next NSCI..
perhaps the rumblings of a more focused effort towards "liquidating the company's remaining assets and returning excess capital to shareholders."
*people
This will never get to court given prior involved. I'm guessing out of court settlement for big money.
what's happening here then......