Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Not long at all. I just can't believe that he hasn't got another deal on the table. At the end of the day he terminated the blue air deal not vice versa.
Until January 6th (I think).
Sorry to ask, but how much time do they have in the rules ?
The only difference between the announcement of the terminating of the talks with BlueAir and the final results was the use of the word 'anticipates' and 'hopes' with regard to updating the market on a subsequent deal.
Fingers crossed they're working hard behind the scenes.
Shows not over yet
Your right about the rampers. They are absolute sh—e. They sucker investors in for their own gain. They did this with Fastjet and Flybe meanwhile being verbally aggressive to anyone who did not play their game. That’s the problem with these boards, just to many sh—s !!
And where are all the rampers from a few months ago that stamped on anyone who said anything negative -- well where are you guys -- you know who you are !!!
It’s a waste of time and money here now
The entire ball game has changed.
The main show is not going ahead so we will be down to grabbing the life jackets and jumping!!
This was my first SPAC investment so remain very optimistic.. I have to be! I backed this because of the leadership team and they are still there so, fingers crossed.
AIM shares are just too much for most investers. 11 years of AIM has told me that the best strategy (assuming you want to get involved at all) is to just trade lumps of capital in say 4 or 5 shares and take immediate profits when available. Traders will say anything to keep punters on-board while they trade in and out of the shares with impunity. AIM shares are not an investment. Fundsmith, Scottish Mortgage or Pantheon International are investments and ahve paid me handsomely I am just glad that AIM shares only constitute about 5% of my portfolio !
Surely they will have to refund the raised cash based on # shares ??
I still believe they will manage to do RTO with another company.
From the RNS:
'Should the Company not complete a reverse transaction within six months of the date of suspension or be re-admitted to trading on AIM as an investing company under the AIM Rules, it is expected that the Company's shares will be cancelled from trading on AIM.'
It doesn't necessarily mean all will be lost, but it could be. The money doesn't technically disappear, but the company will disappear from AIM if they don't relist. They may have to relist as another company or on a different exchange if they don't relist as an investment company. Can't say I know any more. Does anyone else have any ideas?
I bought into this thinking they'll get an RTO done in time. Still think they will. As much as people lamet Blue Air, they didn't meet the requirements. No use wasting time or crying over it. On to the next target... and maybe the next.
If it doesn’t re list in time and doesn’t come back to aim is it just a waiting game or will the shares be cancelled and we lose all our money?
It makes it very difficult to relist so all eyes on the RTO.
I wonder how much of the 2 mil was burnt up between the end of March and now? They stated (pasted from the RNS below) they believe they have enough funds left for a reverse takeover, but is that a statement from the end of March or now?
(taken from RNS)
Going concern
In determining the appropriate basis of preparation of the financial statements, the Directors are required to consider whether the Company can continue in operational existence for the foreseeable future. The parent company had cash and cash equivalents of £2,001,000 and net current assets of £1,974,000 as at 31 March 2021.
The parent company is an AIM Rule 15 cash shell and as such is seeking a suitable target business to perform a reverse takeover (RTO). The Board believes that there is sufficient working capital to perform such a transaction
I actually can't relist without a deal... or rather it can't unless it raises £6m
It won’t re-list without a deal.
Not a baseless comment at all, AIM shares drop like a rock on far less. If this re-lists without being in some sort of deal negotiation it will drop significantly. I you dont believe this then you must have only been investing in AIM for a few days !
How can you conclude that? It’s a baseless comment. Might be right but could equally be wrong. All depends on factors completely unknown - I.E the details of the proposed transaction and if it comes to fruition.
In my opinion, if this re-lists it does 100% minimum within seconds of opening.
In theory if cash shell is liquidated post 6 Jan, the cash that is left is redistributed to shareholders based on NAV.
Does beg the question where would the money actually go ?
Am I right in thinking if no reverse takeover is completed all money is lost.
If we relist this will drop like a rock I suspect
Just have this feeling a plan B was always there and we should hear something before Christmas, stick my neck out and say medical, no proof or indicators just the way of the world at the moment with small companies with great ideas.
Okay hopefully your right and I get to see at least it re list so there is always hope for another rto and an opportunity for us to make some money