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.
The Bod have plenty for working capital into next year after the placing / additional WRAP & the £700k tax credits due in Sept...
Sorry, late reported trade
I think there's a problem with the time lag of information given.
I can't see how RF can have sold 2.9m shares in the last 4 days, 1.6m perhaps. There was the last reported trade of 1.475m last week. I bet this was part of the 2.9m (forward sold).
What did the £800k in previous RNS include? We don't know.
It's going down rapidly, and could easily be all cleared by the end of the month. Then the SP will be really ready to return to previous sensible levels, in anticipation of P1a results.
Hopefully we dont run out of money before 737 starts to deliver and the latest for that would be december when we get 27.% of 500K shares in Company X ( whoever took on 737) ... hence why the BOD needed 2M+ to cover salaries etc till december
I'm definitely not sure about the legal requirements for wording in an RNS and the finer details of the AIM rules about distinguishing between warrants and shares. My understanding is that warrants are shares that are to be exercised within a given time frame.
I have emailed Lauren Williams at SAR’s IR email address re Peel Hunt 3 times in the last 10 days and not heard a whisper in response. Has she left or is she just rude. I don’t think expecting a reply to a long term and loyal investor in SAR from SAR’s Investor Relations is unreasonable.
#incorrectly worded i meant
TraderMatt
If that is the case then the RNS is incorrectly. It says issue of shares, not issue of shares and warrants
You may be right there. Get it to £1/2 million then settle.👍👍
That's a good spot.....🕵️
IMO the balance is fluid and is changing / dropping daily wont be at all surprised if they are cleared in the next week... either way the SP is positive since last deposit...GLA
I think we have to issue shares when RF ask for them according tot he RNS last August.
Included in that is a blend of shares and warrants. From my rough understanding, someone will need to check this, 1.6mil of the shares issues go towards paying off the balance (at approx 10p a share) thus £160k removed from the outstanding balance, the other 1.4mil are warrants for RF to do so with at their whim over the next 48 months
Last RNS said balance will be paid by subscription shares. This one says balance to be paid by subscription shares or CASH. Are they going to use the extra gained from the wrap and pay then off without more dilution.
Why keep giving them shares, then mention the balance doesn't have to be paid till Aug25. Don't pay them till then, tge sharks.
I know, I've been critical of the board and they deserve IMO. But if we run out of cash after 1a data is released, we deserve to go under.
What happens when we run out money again, do they go for another placing, or back to Riverfort.
I honestly believe this is the turning point.
Unless the BOD dropped an absolute clanger of an rns to ruin further progression, I think RF will be gone soon. Unfortunately I have no doubt, even if PH we’re out of picture moving forward, they will undoubtedly hold enough shares to ride it on the way up via their trading arm not there nominee broker arm.
The old timers here gave me faith when they quoted warren buffett. Stocks transfer wealth from the impatient to the patient.
I still hold my view north of £1.50 end of year.
That level is fair value in my eyes with where we are.
Best
BigE
The balance owing is dropping fast they only got the last tranche 2 days ago won't be long now, maybe someone mopping them up in background HNWI / .....
Either the last two RNS are badly worded or we have been given a rogering
£160k cleared by the issue of 3m shares? Thats 5.33p per share!
Id love to read the agreement that BoD were happy to sign
They'd need to sell a lot by Thursday or we will get a TR1 RNS when the shares are admitted.
Not that I understand this RF facility much if at all (and always prided myself that I would on these areas), We gave 2.9million shares leaving £0.8 million outstanding and now 3million shares leaving £0.64 million outstanding. Am I missing something obvious here.
You are assuming they sold all the previous 2.9 million already.
Something does not ADD UP ... ?
They were granted 2.9M shares and then were owed around 800K
They have now sold the 2.9M and been granted 3M but we now owe 640K
RF would have sold the 2.9M abouve 10p which is therefore greater than 290K ... so why have we only deducted £160K from the running total ????? .... Where's the accountant when you need one, cus Parkers maths is as bad as his Financial abilities !!!!
Nice to see you again here Stach - all the best.
..... RF could also be the initials for "Royally .....d"
(Still under Morphine ingestion so possibly my little grey cells a tad jumbled!)