Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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At this price, any news could be considered good news by the market. It’s the uncertainty that has kept it as this level. What I found interesting was the price holding steady. It shows that there’s a buyer matching the seller.
I bought it well above this level so I would not recommend for anyone to follow my ramblings, but I took the chance to average down today (funnily enough showing as a sell)
Very heavy selling today which would suggest there is more bad news to come……I suspect that a proposed share dilution is on the way. If Alex wants to dilute existing shares in an equity raise it’s going to have to be palatable to existing shareholders or he runs the risk of it being voted down…….
I would imagine some shareholders would rather take the risk of liquidation for a higher return than having their shares diluted into oblivion……
Let’s see what RNS we get in the coming days.
Sudden change in volume today which based on past history suggests that the internal leaks have sprung again.
Given the low share price, I think the best outcome, other than a buy out, would be a loan from the CEO to steady the ship. That way there’s no dilution, it shows faith in the upcoming releases and it adds value to the CEOs holding as the price should rise. That being said, logic hasn’t been a strong suit in the past.
What a crazy lot of sells at 2.30p today.. I'm suprised it didn't drop below 2p but held at 2.30!!
Yeah but they're still burning through cash at a horrendous rate and an obvious fundraise on the way, why on earth would you want to buy here ?
Horrendous spread still and you are down more than 10% when you hit the buy button.
2.40p to sell BUT it's never been less than this to buy so no one is in profit and a rise is still due.. cone back at 1.50p
2.60p but still only 2.38p to sell!!
No-one has bought for less than 2.44p.. this is such a bad spread
The spread is mental, the quote is 2.5p at the top end. I can see this hitting 2p. If it bounces it will be hard.
2.26p now.
This could be a 1p rise by looks of it!
Will then be the time to buy.
Who’s the broker quoting 259p?
I think I’d bet tempted to sell at that price unless the spread was 200%. Lol.
No Neil, I didn’t buy, the spread is killing it. I would be normally out at 8%, you have to make that just to stand still. I was tempted at 259p, (Quoted) but refrained.
2.75p now to buy but it's still only giving 2.60p to sell... the lowest buy in price has been 2.60p for this share ever... very hard to trade this devil..
Best of luck all
I'm guessing that's your buy Teddy at 2.695??
Best of luck and let's hope there is no rise at 1p!!
Haha Teddy bear this was your post at 8.30 today
This time is different as we know an equity raise is coming. Why buy now, when a discount looks a certainty. The alternative is that the company will cease to be a going concern in a matter of weeks.
Now all of a sudden its a buy is it haha??
Ask at the top end now.
Mcap hovering around 4.5 Million, which is feck all for their potential. Unable to buy at the moment, a bagger looks nailed on for the bold.
Yes there’s no floor here at the moment and it’s just a bit of a free for all. I don’t think anyone knows how to value this company at this moment in time. It’s difficult to say where the bottom is.
Another worrying sign is buys don't seem to be lifting the SP but that 5 grand sell took about 8% off the SP in a single swoop!!
Yes Jaz Salati is not looking like a good appointment at all at this moment in time. Things have deteriorated rapidly since his appointment. It could be coincidental but he’s the CFO and I’m finding it hard to understand how he can oversee such a rapid cash burn.
Check out his LinkedIn profile - first time CFO with an M&A background - not the right choice here...
StiffyBristol - A lot has happened here over the last 12 months…..
Reduction in both revenue and profit, Luke Burtis stepping down, severe cash flow issues and now a drastic reduction of cash on the balance sheet.
It’s not being well managed at the moment.
There is still no debt on the balance sheet and the situation can be salvaged with some prudent management. Next year should be better for Tinybuild but they need to get there without incinerating the cash they have…..
Does not seem that much as gone wrong for this to fall from £1 to 2.5p? Could it go to zero?
I can buy at 2.8p at the bottom of the bid, looks like there is downward pressure here.
Thank you, I probably missed it through the tears. You’re right that it doesn’t make sense, but surely trying to obtain credit, be that a loan from the major shareholder or elsewhere makes sense.
Which when you think about it doesn’t really make any sense……
The £35m credit facility was there in the half year report……if the cash burn was so bad and the situation hasn’t improved then why didn’t they call it in and give themselves a buffer?
In a matter of weeks it’s gone from a fairly healthy cash position with a backup to call upon to having to call a last minute equity raise to save the balance sheet…….very poor.