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Pretty sure in a round about way they have a seller and they know this seller is somewhat forced, so if I was the MM and knew this, I would keep the bid low for guarenteed sells on the cheap, why move it up and cost themselves money.
Patience here.
Well-proven me wrong again on my theory this couldn't go below 0.15. Best of luck to those still involved, not going anywhere but nothing further to add, and hope fortunes turn for the benefit of all who are still here.
So end game is this company will fold in time, only thing I don’t get is why would the shares fly last week and why are the shares a lot lower than the current price
Very difficult shares at times mate
A good question with no real answer for it.
The sale was delayed due to COVID and travel restrictions, I would only guess when this eases things will progress.
For me (I’ll hold) , what I’ve read allows for that element of risk without me rushing for the exit.
I could of course be completely wrong (wouldn’t be the first time) .
Time will tell, best of luck which ever way you decide .
When is the sale then buddy
I’m only replying to price below my comments
I think you mean 0.4 and 0.8 ?
1.9mill in cash before the sale of assets and a mcap of £700k currently ???
So is this company due to wind up any time soon or a date set pal
0.04 is a lot lower than current price and concerns me tbh but looking at sales v buys people are still investing here and who knows with the MMS here what they can do to a share
Good question and open to thoughts/ suggestions.
On my initial research I didn’t go far back enough, on reflection my mistake.
A poster last night/ this morning stated a diluted % of proceeds on sale of the asset which threw me somewhat , I haven’t had time to go as far back as he/she suggested but will do so at the earliest opportunity.
Those on Twitter suggest fair value is anything north of 0.04, ShareTalk suggest 0.08 should volume continue.
When you weigh up, cash + asset value it looks attractive and is worth the risk.
I believe 0.15 is bottom here (I hope) and we get news soon enough. Based on the number of shares of which (over 40% are spoken for) it can shift on sentiment alone, we just need that sentiment.
Time will tell. All my own opinion of course and please take what I’ve stated is here as purely my own thoughts and why I’ve invested for now.
ATB
What is the value per share on asset sale and cash?
Ferdie, I could be wrong of course however they won’t wind the company up until the assets are sold.
The rise was on the value of said asset and cash on hand , values the company more than it is right now.
What is fair value, each to their own and there are a lot more well versed than I on this company.
For now I am content to ride this out. Let’s see what the MM’s do over the coming days.
As global restrictions lift, the asset sale will go through, as of right now nothing else has changed according to today’s RNS. All resolutions passed and they will see it through.
That says they are winding the company to me , doesn’t look positive tho for the future and still don’t get the rise last week
On the basis that they were all passed, OPP await further confirmation on the asset sale. Further confirmation today albeit (we know no reason for the rise in SP) they confirm nothing else had changed.
Let’s wait and see, that’s all we can do.
Ahead of the information on the Annual General Meeting, I would like to update you on where we are in our efforts to wind up the Company and return capital to shareholders. We had hoped that by now the Company would have been wound up and a liquidator appointed but due to the global pandemic that has not been possible. The Celadon Mining Ltd transaction referred to in our last interim report has not completed due to Covid related travel restrictions. The Board is in close contact with the Celadon controlling shareholder and believes that it continues to be in the Company’s interest to await that transaction’s completion. We will update the market as and when additional information is received
We consequently put these resolutions to Shareholders at the Annual General Meeting. Your Board believes that the proposals are in the best interests of the Company and Shareholders as a whole and is recommending that you vote in favour of the resolutions at the Annual General Meeting.