Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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See how the market reacts tomorrow. Last time it spiked in US it did not here down to seller. Now that Peter is completely out can't see many sells happening under 10. There has not been any volume in the last three months.
Either way,,,cash there and a floor in SP.... lets see the mm games now. Open at 8/9/10/12?..
I would guess the cash arb funds like Weiss will buy as many as they can and then force to board to give up and pay back the cash
Not a bad tactic Scott... i believe a 3rd party will start buying as many shares cheap as poss with the aim of finally making an offer for the rest on nasdaq at a higher price... that way they may obtain the $28m for $25m say and have a listing too. Absolute bargain and easy done if you can borrow the $25 (or so) to do it,,,only for a for a month or two. This will be a game with the AIM mm's to get as many people to sell cheap. Any PI's will need to transfer to obtain the higher price. If you bought prior tomorrow i think your sitting pretty and only need to be patient.
Good point. Aim is a crazy market I have set a sale limit for my 250000 share at 15p. If it is not met I am quite happy to wait and have them transferred to nadsaaq for the true value to be reached. I thought the assets would sale for 3-5mil not 10mil so more than chuffed to be holding.
...crazy as it sounds though..in this aim market you can currently buy £19 for £7 with rlm shares!... dependant on opening SP tomorrow that is. Mad!
Very good point condao...or...the coy should give any potential acquirers the same timescales as those to delist to make an offer...if no firm offer return the cash to shareholders rather than wasting it on time and fees to others!.
The company should do a cash tender offer at 17p for those shareholders who want to exit and leave itself as a shell with 2p of cash (assuming a full take up) to allow it to continue to look for a RTO on Nasdaq. Shareholders should push for this.
Possibly Scott... i wonder what the nadsaaq listing is worth to someone?, and if theres tax rebates involved for losses?.... It does seem that shareholders will have to transfer their shares to nasdaq to gain true value. Seems a simple process though. See what the market says tomorrow in SP, as PI's/II's can buy and make a quick 100% in a short period of time through buying, holding and transferring..
So if the offer does not equate to more than 19p us shareholders can be right to be upset
So in respect the company could have said after the assets sale we are returning all cash to shareholders. Is being listed on nadsaaq make the company worth alot more hence receiving an offer more than cash value
Condao is correct too though Scott... why mess around with time as the cash will only deplete...an offer for the coy can only be its cash value ?? so someone would be handing over what they get in effect, i dont get that bit?....unless they are trying to obtain the cash for a lesser amount?.... so really the BOD should not let that happen.. II shareholders may push for return of cash asap.
Thanks ALB1. From reading the announcement many times I believe that interested in being listed in US. Next update in q2. My thoughts are to hold speak to broker about transfer of shares as there would probably be stupid to sell at 12p if it even hits that on Monday
That is correct Scott. Only thing is stock transfer to USA if no takeover here... however probs get more £ back anyway as the AIM is corrupt... MC here 8/9m...actual value 'thats hatrd cash' is around $27m (£21m) which is around 17p ps after costs....
Basically says that on the finer details on the website. If no suitable offer comes in that enhances shareholder value then cash will be paid to shareholders. Not exactly in they words
Cash now is 19p. Shareholders should get busy to force the board to hand it back now.
Thought they were worth a few bob but not 10mil happy days
With the majority of major shareholders sticking by the board I would be suprised if that was the case. There trials did not work this was the best option to get some value for us shareholders. I may be wrong but happy to patiently wait for the next update. Cash will be at roughly 14.5million GB.
'Yea from September'......be September 2019 before news here me thinks...watch the cash suddenly dry up/lesson substantially !! a typical case of a BOD earning and spending £m's for doing absolutely nothing...very surprised how the II's / holders let them get away with it...
Yea from September.
just left message as have RLM on watch list and i thought of you , I noticed that you mentioned a take over 6--9 months away so you will be here for some time Scot
JUST be nice to know how t turns out :-)
I am good mate. Just waiting patiently. Hope they hurry up and give us some news on asset sale.
HOWS YOU ? every time i see rlm stock come up I think of you now.
thumbs
Looking great over in the US. A bit of patience is key. 6-9 months for a takeover.
Good luck Scott... i sold out this last week...taking to long for a good deal for me....you may still get 11/12p out of it though.