Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Hoping for a positive RNS asap...
Is there some movement here?
Oh absolutely won’t be selling considering the cash in the bank, meets the market cap, just could of used this elsewhere got caught by one of those 3p hit candles than from then on we’ve just been going down. Could of used the cash elsewhere. GL for the acquisition anyways I do actually believe it will pull off somehow!
A major tree shake in my view and why give MMs the easy money unless you think the deal is not going to happen and or unlikely.
Hi andecc. Well done with your AIG. :)
Agreed. It's definitely not worth selling. Sod's law we do it and the good news will come - most likely the very next day!
Besides didn't someone mention the cash in bank value isn't too far of the market cap?! On that basis there is no point in selling. We have to trust that the Board can get this copper deal over the line, or find some other "excellent value enhancing opportunity"!
That is some spread. I suspect, without news, a few more days of the down trend. The spread interests me and looking for when this narrows for the next deposit.
Im down over £200
Need to hear some good news soon
Shareholders done their bit by voting, now we need to get the deal done.
I agree its a 50/50 situation
Wr cant continue to have negative weeks all the time
Hi BarneyR, yes, I agree and the worrying factor is that we don't have a clue which it is. There is a potential to lose even more or it may pull back given some good news. If I sell, it's a given that good news will arrive very soon afterwards. I've almost made these losses back on AIG in one day today so all is not lost lol.
Hi andecc. The markets do not like uncertainty and that is what we have with ORM unfortunately. The SP is falling because there is no news. ORM's silence (lack of shareholder updates) has been deafening but as flundra points out, the delays could be due to them negotiating the best deal. That said, with copper prices having risen 25% to 30% since negotiations I'm not wholly convinced that ORM actually has the upperhand anymore - made even worse now by a falling share price where an offer of cash and shares won't be so attractive. They need to get the deal over the line or move on to other opportunities asap.
Bod have picked the right commodity (copper prices are up 56% in the past year to a 9 year high), and what looks like an excellent asset in a supportive country. Now to deliver the deal on the best terms achievable. imo.
-13.51%, but for what reason? I'm now over a 40% loss on this....... not a happy bunny. Shareholders deserve an explanation instead of mushroom food.
-13.51% on H&L
As shareholders i think we are entitled to an update good or bad.
This share is fackin bull**** will they just get the copper acquisition sorted
@cekim. Nothing new there ! Unbelievable what is happening here. If there is no good news and no bad news, how come the SP heads south every day.
No news again.another red day incoming
Indeed it is!
Same here. I'm also happy to sit tight with my current holding. As and when the deal is announced I will look to add, even though I know I'll pay a premium for it above the current SP.
Yes it's a good chat board this one.
Like you I've got negotiation experience. Not about copper assets in ROC involving multiple parties unfortunately. The point I'd emphasise here is that delay on its own doesn't necessarily mean there's a problem. Indeed it could be leading to a better result. We're not privy to all the detail and don't really know what the relative bargaining strengths of the parties are, nor the relative merits of a cash deal vs the preferred cash and shares approach. Rightly or wrongly I'm staying in for now and the trusting the bod to get it right and bring it in in the best way possible.
Totally agree flundra. At the end of the day it's about our faith and trust in the bod to grow the business and drive profitability. If I could be more certain I'd certainly top up my share holding once again.
By the way, it's refreshing to engage with such a friendly group on the ORM chat. :)
Can't say I'm getting any whiff of rodent yet. BarneyR, the simple answer to your question may be...because it's not the optimum approach for all (bar TA for now) and all parties are still negotiating.
Yes it's frustrating, yes a party might get cold feet, yes another buyer might appear, and it falls apart. You guys are right to be raising this. But that's where we must trust (or not!) the bod's judgement and it's what negotiation and brinkmanship's all about.
Good luck with your holding PAD. :) I just weighed up the risk reward for ORM and decided to put the money into other shares which by more luck than judgement have performed better. That said, if ORM can finally get the deal over the line then you will hopefully hit a home run. Since negotiations began in September 2020 copper has risen 25% to 30%. If I was the seller / licence holder and the buyer was dragging their feet like ORM have done (for whatever reason) then I'd be bringing the buyer back to the table for renegotiation or alternatively searching for another buyer. Having been involved in acquisitions myself, the longer these things go on the more chance there is of the deal falling through. As flundra has said, the company can proceed with a cash transaction without TA's approval. The terms were "up to $800k for an 80% stake in 2 licences". The funds are there to do it so why haven't they? If the Board are that confident they are onto a winner then just get the deal over the line asap with or without TA!! I suspect there is a lot more going on behind the scenes than the company is letting on!
If it was that easy it would have been passed months ago.
What has passing res 6 got to do with migration to Euroclear? This and the deal can and are progressing concurrently not consecutively aren't they?
Res 6 needs TA's approval, and the bod believe issuing the shares res 6 will enable, to be the optimum approach in the deal. The deal can otherwise proceed with cash. We're basically waiting to see if TA will come round, and if not if the deal will proceed as a cash transaction.
I hope I have called this right although the consensus seems to be 50/50. Hope so, as I now have the number of shares you once had Barney. Like you say Matty, potential to be underwater with the for some time otherwise!
PAD004
If that was the reason, why not say so?
I'm with Barney.... 50/50. I can't tell which way this is heading.. nor can anyone.
I actually sold out.. and this was my longest holding in my portfolio.
I may buy up a small amount this week - but only an amount I can live with losing for a long long time