Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Can’t argue with that devil. There is a delay here ( like nearly all new mines) and everyone would have thought the SP would be higher at this stage but IMO this is mainly down to APT price. APT is down nearly 50% from its highest. Sold 2/3 of my ORM holding at right time and made approx 200% on them. Still hold the rest . I am looking at wres as a more long term play. I have no doubt that it will come good. It is very frustrating for investors who are here for a very long time but I am not one of them and in no rush. Good luck all.
T. rex
I agree, Fanya stocks are being auctioned today and tomorrow, once out of the way things will settle down, the APT price will recover and just in time to coincide with WRES reaching full production following commissioning.
At 33% above the SP closing price on Friday today’s placing at 0.5p is good business.
Personally see this RNS as very positive. Investors willing to put a lot of money to get in at 0.50p. This re-assures me after long periods of decline. Do they know more than us . Gold. Let’s get Fanya stocks auctioned off so that APT might start to recover and finally we will get the sp going in the right direction.
Safetyman, we can repeat this all day long.
You don’t settle damages until the damages are known, obviously.
Still doesn’t get through!
From the RNS Jan 2018.
"The award of the Concentrator to allmineral is a significant milestone and a core part of the development and financing programme for La Parrilla. All major plant components are now contracted and aligned with the US$30 million term loan financing. Germany's allmineral is responsible on a fixed schedule and price contract for delivery of the both the Jig & Mill and Concentrator providing important integration benefits in project delivery."
Once again. It was stated at the AGM, in front of the auditor, that there is a clause in the contract for compensation in the event of the delay. The fact that this is commercially sensitive and thus not for disclosure is quite usual. Additionally, it usually takes time for the redress to take place and what form it may take is part of the confidentiality in the contract (I was informed of this last part that his is the case by a rathe successful business accountant who happens to be an investor). So not speculative, just following business practice in a correct fashion.
With a bit of luck the spanish grant money might arrive before the legal wranglings with allmineral kick off over the penalties or we might need another placing. Not a good position to be in, confidentiality leads to all sorts of speculation doesnt it?
Don't be a silly devil.
I used the word "likely" twice to indicate that I was having an educated guess.
Who posted these words :-
“No evidence of this at all. Just because it came out of MM mouth means nothing.”
Which have a very clear meaning.
It is a fact that MM has stated that there are contractual penalties but that because of confidentiality he can not disclose them.
I'm amazed that anyone is surprised by todays RNS. It was perfectly clear from the last RNS that more working capital would be required in the short term.
Although it's disappointing to be subjected to more dilution, the placing at a substantial premium is a huge endorsement of the project by investors who will have access to a lot more information than us mushrooms. Would a low interest bank loan have been preferable? I'm not sure it would given the premium achieved.
What is clear is that we will have a world class mine operating in the near term. I have always said that I expected this project to over-run on both time and budget just as most new mines do, so I'm not disappointed or surprised. The end goal is still the same for me, a 5,000 tonne per annum output in a $300/mtu price environment. More Spanish investors, MM and other board members investing next month at 0.5p underline the fact that they can see the future potential in the project.
It looks as though the relationship with allmineral has broken down over the delay. There is likely to be a substantial payout by their insurance company to cover the extra working capital required to cover the delay. This is likely to be around $1m/month. The unknown factor will be how long it takes to recover this. Reciept of the 5.3m euro grant will also be a welcome injection of cash, although unfortunately too late to help us out now, just when we need it.
Morning all. The RNS this morning was unexpected. It is an opportunity for the trolls to be all over this and they have been. On the other hand it is encouraging that the price is 0.5p (provided this is not a typo which I doubt in the light of the one last week). Having had a chance to think about my own position, it hasn't made a great deal of difference. I am trying very hard to be 'sensibly patient'. I am hoping to give this another 12 months or so. This will give the company ample opportunity to get to full T2 production at LP and likewise Regua. I don't have enough in the pot to be overly concerned about dividends and I have some debt I want to clear at that time. I will be very happy if we manage to get to between 1.5p and 2p by this time. Any thing more than that will allow me to keep some in the pot for future growth. I believe this is a realistic rise and if all the planets line up, it could be more. Only time will tell. The achievements of the last 12 months have been impressive despite the delays. It is interesting to note a slight change in the language MM has used regarding these delays. He has mentioned the company responsible and the time frame in the same breathand in a much more open and critical manner. I am still nervous but still very hopeful. There appears to be much local support for this to succeed and I am sure it will. Good luck to us all.
Yes somethings not quite right there isit DB? Youd expect allmineral to have insurance to mitigate against this sort of thing in which case they should be able to smooth things out by working together. Although implicating allmineral in an rns is a brave move if its not the case. God knows whats happening all sounds like a bag of sh ite to me.
I just put the bins out this morning and still have some spare time, however I don't feel the need to bash any AIM shares bbs that I'm not invested in. I must be a proper weirdo!!
It’s worth reiterating that trolls, without any evidence to back up what they are posting, will call the CEO a liar, will constantly repost old news and will at any and every opportunity attempt to rubbish the company.
Does that sound like any of our posters ?
I have worked it out along with government grant pending /production starting go figure !!
European
I’ve been invested for 7 years but not at the level I currently hold, I’ve increased my holding as time as gone on, as and when important announcements have been made such as the black rock funding, and as and when more money has become available to me, so, whilst I entirely get your point, in my case at least, and having spoken personally with several other long term investors, all of whom have increased their holdings over time, it is not true to say that if we had invested in total we would have made the amounts that you stated, and what’s more we could have invested in other blue chip companies that would have lost us a fortune Royal Mail for example.
Hindsight is a wonderful thing but I don’t possess it.
I do possess a reasonably large holding here that I have no doubt will make me a substantial profit over the coming months and years.
True penalties will be in place ,may get that news along with some gold news
having already discuss penalty clauses, it does n harm to reiterate. Yes they are in place, they are confidential, yes they will turn up somewhere down the line.
If the delays are allminerals fault we should be in for a few penalty clauses down the line? Or was that an oversight aswell?
Shall we have some gold news see if that helps !!:):)
Not as if shares are in short supply after fridays dumping and today is 90% red so far. Not a lot of confidence out there for masterman it seems
Big profit to be made Kev derampers not getting there hi drop I see !!:):)
European.
“so yes, those family business leaders will invest and make their profit on the short term. big difference”
Buy today at 0.4p, instead of the new holders 0.5p. Sell at 0.8p. Short term.
You make 100%. They make 60%.
Watched you getting hammered by the ostriches for so many months on here but your posts seem to be holding much closer to the truth than theirs.
Wish I could afford to give away 20% of a million euros