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They need to update on AQSE if AIM's out. It's an important part of the equation.
DS , are you invested here ?
Guess you can express your approval for making this already bad investment uninvestible at the upcoming EGM.
Look on the bright side DS. At least when we delist you can bugger off and spread your pessimistic half truths elsewhere...:-)
On reflection the move from AIM to AQSE is no big deal. Lets hope the TRU investment is the right move. TA has c25% at stake so there must be some believe in the asset. I think TRU and ORM already have a plan to unlock/create value. We also have the warrant options which when/if executed will (IMO) lead to a full takeover of TRU.
I get that ORM is heading for de-listing from AIM, but TRU and exercising the Peak option would be RTOs enabling AIM relisting. Not proposed sure, but it would still be the preferred route imo.
DS you voice the fear we probably all have, but I'll take the Aqse proposal and promises of future professionalism, regard for liquidity for shareholders etc at face value for now.
Zebs is it really £100k just to relist a £5m ish mcap on AIM in these circumstances? Seems a lot, and perhaps justifiable anyway now there's a couple of projects going. They happily sucked up the annual AIM fees for ages whilst having no live projects.
Flundra it's not eligible for AIM, hence the delisting. You'd have to wonder then if it is not eligible to trade on AIM why it would trade on any other market. It won't go on aqse either, that's just fluff to appease shareholders. They already have all the votes they need
AIM is c100k, AQSE looks to be c20k, so way cheaper. I would like to see what happing at Peak. Dont they owe us some drill results.
All said, Im sure TA has a plan to grow the value of his 25%
Good to see they're at least thinking about liquidity and trading, maybe they've been reading this chatboard! But they need to sort it like yesterday particularly if they want votes. They're addressing this too late. And I'll be the judge of whether they have integrity and standards. I query why Aqse too. Just relist on AIM. It won't be a huge cost difference, it's easily done. There's also Peak and the legacy Spanish stuff. Where's the ambition?
It's easier for them to let others take the exploration risk....
Lets hope it's a success, otherwise we'll struggle to see a return. I would imagine there'll be a surge in TRU share price when exploration starts post deal completion. If they can replicate Marathon's results this will be worth many multiples of current valuation. Let's hope that ORM screening process was as vigorous as they conveyed!
Orm will probably need to exercise their warrants to maintain 36% plus given the number of warrants outstanding, however i note that management have left enough cash/receivables to cover this conversion in future.
Surely if Marathon were that interested in the lands they would have put up the capital for the deal we are getting after all it is quite small considering their valuation.
It was on AQSE previously as my platform bought through Aquis. Minimal cost to list and little regulation. Liquidity won't be great but it wasn't on AIM to be fair.
This is all on tru project now. Marathon going into production in 2 years....will they buy tru out on decent resource upgrades? That's what we need to see
I don't believe it will go onto AQSE, that would be a waste of money when there is nothing to trade on. If they cared about liquidity for shareholders they were already on two markets and could have done the requisite RTO and brought in a proper project. Instead they have made minority investments in some obscure pet projects. This is dead for shareholders other than Anderson who will restructure it in his favour.
Most my trades went through AQSE previously.
It'll be about as liquid as it was when it was on AIM.
This is all about suring up some significant gold and copper reserves at the Golden rose project and then seeing which of the much larger mining companies on either side want the asset. Note: Marathon Gold to the east are already building a mine and have a valuation of over £150m!
Oh great...
Over a barrel really given the only other option.
AQSE is about as liquid as a stone.
Might as well have gone bust. That's how it feels right now.
looks like we will be aqse bound.
the board, in considering the investment, was mindful of providing shareholders with a mechanism or alternative arrangement for trading the ordinary shares.
accordingly, the board is actively pursuing the introduction of the ordinary shares of the company to an alternative **************. in this regard the company intends to apply to have its ordinary shares traded on the aqse growth market, a recognised growth market, based in london, subject to approval by aqse regulation. in the event that the company's shares are admitted to trading on the aqse, the company will be subject to the regulations and corporate governance of the aqse exchange.
Are you invested DeathStranding ?
Bended truths? It gets delisted in 2 weeks.
Deathstranding, not sure who is listening. There are only about 5 people who ever visit this board, whats the point of spouting bended truths here....weird
Are you invested here DeathStranding ?
There will be no suspension purgatory. It is being delisted, so private purgatory, with a minority shareholder controlling the business.
They must have sound reasoning to have selected TRU for this large investment. The major shareholder would only invest on expectation he will profit. Certainly I hope the rest of us will alongside.
I have looked intro the company and their project while early looks to have bonanza gold grades potential. Also they are active in marketing videos which is good to see they are at work and have young blood at the helm. I will want to see liquidity for my shares but mining is long term so I imagine it will all be sorted in time. Let us see if the team is able to complete the transaction, otherwise I fear they will be back in suspension purgatory.
Must be due an update soon.
Directors have a fiduciary duty towards shareholders. Shareholders don't have any duty towards each other. All current directors were appointed by a single shareholder, and that shareholder overwhelmingly controls voting. Good luck staying positive. Only a few days left here anyway.
Good Post Blueshirt, I'm of the same opinion that any move must be to the benefit of all shareholders.
They RNS'd recently about rewarding patience and delivering shareholder value, so as a LTH I remain quietly confident of a positive outcome.
You seem to suggest there is some great underhand attempt to steal the company here.
But can you explain then how does TA intend to get any of his money back from this course of action?
He currently holds 25% of the shares, bought and paid for at a price many multiples of todays.
His interests must be aligned with all other equity holders, we all have the same rights and entitlements don't we.
There aren't any superior creditors or debtholders involved. Or what am I missing here?