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"Further dilution is not really an option. You want to raise 3bn on a 400m market cap? There would be no upside on current NPV at those levels. "
If that were the case then CF would've thrown in the towel. Liberium came up with a number of plausible (their word not mine) scenarios that preserve some decent value for current sholders. These scenarios were all alluded to by CF on the conf call. They're no longer looking to raise all the money in one go.
The broker note is posted on Blueshare if anyone is interested
correct
Plus. You can get about 8% now on things like peer to peer lending. Something like this you would want about 15%.
I wouldn't be interested and I'll tell you why. I won't be giving another penny into the terrible p***pot that I've already lost that is run by that utter utter fool and incompetent CF. He has played this to a complete nightmare, and many genuine investors have lost fortunes. Did he even apologize to us during his webcast? Utterly shocking management of the project, and the delivery of the news.
I suggested this a couple of weeks ago but was shot down. never mind
CO
All well and good and I suggested doing something similar. The problem isn’t just the 500 million though. Jpm Morgan would not do the 2.9 billion credit facility on the back of this.
So the question is. Where do we get that from? Maybe after the strategic review we might not need as much, but surely need over a billion more.
Or 500 people at 100k each....
Perhaps the way to do it is open it up to anyone in units of 5k (100k units) and interested parties can offer to purchase more than one 5k unit.
Further dilution is not really an option. You want to raise 3bn on a 400m market cap? There would be no upside on current NPV at those levels.
Debt or start partner takes a piece of the pie.
My gut feeling says we're finished, but I've got such a horrid paper loss that holding my tiny remaining amount is the only option.
I’m sure you have the best interests at heart but to put 5k into an account on the back of a website created by a faceless bb poster seems awfully.....erm, Nigerian?
i would be interested
I am interested in hearing your suggestions and I will hopefully launch the site 1st thing Monday. With regard to checking out the accuracy of the number of responses, I cannot do much about that but the 2nd stage will be to request the monies which would need to be put into a holding account for return in the event that the required threshold was not met.
Bob G
I'd put money in
More like Gina G - oo ah just a little bit.... come on Gina.... please?
“I am a LTH with no connections to SM and do not even live in Yorkshire.”
—
Are you Bob G? :-)
First post for SXX. Crowdfunding would be ground breaking for a corporate bond I assume. Crazy idea but I like it. My average price is c23p. A 5k investment would deffo be worth it, rather than dilution or worse.
Or 50,000 people at 10k each. Getting the bond away, essentially through crowdfunding, would not only avoid absolute catastrophe but would also avoid the punitive dilution that seems to be best case scenario right now. Not quite sure how you can vet the veracity and capability of those that offer up a contribution, but where there's a will there's a way....
I will be publishing a reply-based website over the next few days in an attempt to gauge the level of interest there is out there in individuals making a £5K investment carrying a 6%+ coupon. If I can find approx 100000 individuals willing to invest in a sort of 5 yr mini-bond by 1st December and again (same or different investors) on 1st June 2020, that could raise 2 x £500M which can be presented to SM as a way forward. If this works, the project will carry a lower risk and SM are much more likely to get bonds away for the balance of the finance at a later stage.
I will post a link when the site is ready. If you are interested then take a look. Wait to see the site before commenting. There will be a comments/suggestions facility. If you are not interested then do not both looking or cluttering up this site with negative comments.
I would not be doing this if I did not believe in SM and the benefits that a successful project would bring to the region/country. I am a LTH with no connections to SM and do not even live in Yorkshire.