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Equity financing, well, given that the equity was trashed it would need to raise almost three times current equity (@3.5p), and still require a substantial discount and need underwriting.
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A strategic partner would have taken 75% of the company for 300 mill or less anyway and that would have been a good result. The equity raise is a bit worse but better than the takeover outcome.
Tex
I've only held sxx shares for just over three years but I'm sure you can imagine in that time II have learnt not only the pro's here but the cons also !!!
Now the fact you have only been in this share five minutes I accept does not mean you know nothing about investing or that
you are wrong about what is truly happening here !!! you may be dead on the money tbh !
What I think you do need to accept is that given some have been here an incredibly long time and given that they/we feel strongly about the prospects and future revenue ????
Maybe we are prepared to take the risks ...
You have started talking bucky's book !!!! given that sxx has already made you some pennies could you explain why you are still a holder here please ?
Regards
ffc
So you are suggesting they couldn’t own shares if they so wished?
It’s okay no need to respond. I am out now to the great british past time of Sunday league football.
ATB everyone.
“Also, how many of the 85,000 private investors would be in a position to buy a multiple of the shares that they currently hold?
What if only 50% subscribe to the full allocation, they get half the cash, and where would that leave them?”
>>>>>>>
The last time I checked it would only take Gina and the others to jump on board “the double down train” plus a few of us.... it’s not unreasonable to suggest that this is a possibility, and it’s sure as dam it not unreasonable to suggest that raising £300 mil is entirely possible. I would suggest that your tone in txt form if there is such a thing is coming across as a totally righteous one. I personally do not gave a problem with it but there does seem to be no room for manoeuvre when it comes to discussion. Generally I have found managers who I have worked along side that pretend to listen, but do what they want anyhow - fail. Some people, (and I am not for one minute suggesting you are one only that you seem to be coming across as one). Loose thier heads so far up thier own @R5£ that they get blinded by the 5#IT and end up talking more of it.
I will re-iterate that it’s easy to make false opinions in forums such as these and more than likely I have. So I would suggest others take the valued argument digest it. Then offer a counter argument and then hopefully the truth we seek will be somewhere in between.
Have a good Sunday all.
There is a severe case of Stockholm syndrome on this share.
I’m not sure how much clearer the situation could be.
PIs will not have a say in what happens here. Maybe they can get some support to recoup losses (after things play out) if a strong enough case can be created.
Probably because at one point in time he believed in the project, as probably all of us here did. It is such a shame how this is all panning out, but taking anger out on random people on forums is not going to help anything or anyone. Not saying you are dear chap, but plenty on here have spat their dummy and are just flinging **** at others.
Bull-ish - as Achille eloquently states, we don't have to accept it. As for IBAB, he posts half truths at best. He's come late to the scene and certainly wasn't waving his red flag pre-planning, pre-stage 1 funding or pre stage 2 equity raise. His presence - and timing thereof - is questionable.
I swear to god you guys have some of the weirdest reactions to IBAB’s posts I’ve ever seen. I only really ever see him posting the truth, harsh truths maybe, but honestly half of the reactions on here are embarrassing. If you put more than 10% of you investment portfolio in a high risk mining company that needed billions to get off the ground, don’t start taking it out on forum posters who happened to have called warnings for a fair while. This company is blatantly being sold for 5.5p a share, so as much as it sucks we just have to accept that and move on.
Too many people focused on what should have happened, rather than what is currently happening.
Very dangerous strategy when you are still invested.
Twiggy
Started: 5Orrell, 18 Jan 2020 02:33;
Hence my rant/ flippant comments about why, Twiggy & how he showed how he dealt with his situation. When he had been backed into a corner.
Look up at previous videos on my profile on Fortesque metal & twiggy’s interview on YouTube !!!
Never take a step backward... that’s their moto on the Aussie flags. The kangaroo & the Emu can & never take a step back!!!
That price only exists because of a proposed bid. It would have little or no bearing on any professional decision with regards to an offer price.
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Utter balls. I could say the 3p price only existed because shorters distorted the market price. 5.4p is the current market price. Any placing premium or discount, if it happened tomorrow, would be benchmarked against this price. Same as all the other placings.
Love to try and get the last word in IBAB, but the word is normally fake. You seem very concerned about a successful raise. It's like you want this to fail, so you can rub noses, like Yellow's in it.
Agenda or not, you're a sick disgusting individual.
Equity financing, well, given that the equity was trashed it would need to raise almost three times current equity (@3.5p), and still require a substantial discount and need underwriting.
They have no doubt taken advice on this, and do not appear to be moving forward with this as an option
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Pure speculation at best IBAB and perhaps another disgusting cowardly lie.
Placing could be done at a discount to current price (5.5p). The BOD might be considering this. You don't know and cant say otherwise (even though you try to).
The money could be put in escrow, just like the last set of convertibles and if the raise isn't successful, it's returned. Simples.
You seem to have got very animated in trying to shout down a PI led raise (no doubt some II's would join in). Seems like you want to shout it down because you want existing holders wiped out/eliminated/relieved of their shares somehow some way.
Why shouldn't PI's be allowed to "double down" as you say. Again you put forward pure speculation as if it were fact. You don't know how many of the purported 85k sholders would chip in, nor do you know the amount they would chip in.
As for failure. the odds are significantly reduced once the next tranche of $600M is raised. And, as you like to remind us, EVERY investment comes with an element of risk.
Take you risk and your advice and shove it where the sun don't shine.
#getitraised #handsoffAAL
Tex, I don't disagree, but not all offers need to be underwritten. I'm not sure why this avenue wasn't explored long before we got deep into extra time. Makes you wonder. The whole thing is a screw up. There was never any need to end up in this position. If it isn't gross negligence, it's pretty close.
Longterm
Not sure if there are still the numbers of PIs and if the appetite is there. Also, you still need someone to come forward and underwrite any offer.
March is fast approaching I cannot see how this can be executed in time.
I don’t want to get speculate if this situation was planned and how long sxx was in discussion AAL (I imagine they have been engaged with multiple parties for a long time) , however, clearly there is still only one offer on the table and the fact that it is recommended by the BoD. @ 5.5p tells me they are not going to turn to PIs any time soon.
Not "choice' IBAB. Fact. Your pompous reply to Yellow was disgusting - referencing the IFA for effect. Rubbing in his predicament in a thinly disguised manner. Self inflated egotistical shyte. Karma is coming for ya.
IBAB you don't know what other options are available. To suggest otherwise is a lie. Liars are disgisting and cowards.
You also don't know what Fraser's mindset is about the value of his shares. If he is offered a role in AA to continue to deliver the project that would cushion the blow and would also be a large conflict of interest - other sholders don't have the ability to mitigate their losses unless they too are Aussie mates with the AA board
But how do we see CF playing this is the question with his friends he’s obviously made in his time as an I.B. Is this a way to lower the SP to get his friends involved in the banks at a more affordable price or perhaps he’s got his friends to fund the AA bid as that company is already £4 bill in debt so they must have connections in CFs previous field of work. Rest assured he is going to work on what he knows but where it will lead us not one person on here can truly tell you 100% fact u TIL what ever is done is done.