Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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He wouldn’t get a placing away at these prices
"And…. “IF” DRC does start in Q4, will he require the capital costs again… " and that's where a Covid recovery loan will come in to play. So still no requirement for the placing you crave for.
And we will finish red today…..1.2p-1.3p my guess….Nothing but a news msc without strings is going to move this dog…..everyone expected a gold nugget in todays news, but all we got was Peter s usual “encouraging “ to every single opportunity that has been delayed……
B
And…. “IF” DRC does start in Q4, will he require the capital costs again… that £2.5m he asked for cannot be asked for agai… can it?…….Pete does have thick skin, so probably…. Yes!…..B
Thing is Gibbo, Wsg have £3m less cash than this time last year… overheads are the same… revenue about the same….prospects about the same… so ifs it’s not a placement, then that loan is going to be nibbled very soon. B
Jimzi, you've obviously not been looking in here much over the last 9 months, because every day there are a bunch of posters that have been screaming that a placing is imminent. The comment re the overdraft is clearly pointing out that the facility does exist if needed and therefore for now, there is no such requirement for a placing.
Debtors are in line with December, which given that turnover is up, implies that they are being collected.
Threeputt, your assertion that debtors and creditors should be equal is not correct. Approximately 50% of the operating costs are staff costs, which are paid virtually as incurred, whereas the associated revenue always has a time lag to collection.
Wonder if this will happen…. Says it every year… but will there be strings attached… like a ratification perhaps…..
“We continue to have an active business development programme and continue to develop a number of large-scale project opportunities in both our Services and Technology Divisions. Whilst there is never certainty of timing or outcome, we expect to secure one or more such projects in the current year.”
B
And they're back, strange, anyway more Jackanory from our illustrious leader, pretty precarious on the cash front as far as I can see, wonder what he'll do next.....
todays chat seems to have disappered or is it just me?
..said it
Well as usual this has really set the market on fire !
No surprise here !
The company should be investigated at the very least. Lie after lie for over a decade
just lies.........
Proposed Placing of the Placing Shares at the Issue Price, raising approximately £2.5 million (before expenses). The Placing will be carried out using the Company's existing shareholder authorities.
The Placing will serve to put the Company in a stronger position for the next stage of its development by providing additional working capital to support the growth and delivery of the recently secured contracts, which require upfront capital investment from the Company, together with ensuring the Company is better able to deliver on its strong pipeline of near-term potential major projects, which it hopes to be successful in winning.
B
So... what happened to the £2.5M placed to start up DRC?.... if DRC hasnt started, then shouldnt that placement money still be sitting in the "DRC account"..... with only £400K left, that money has obviously been spent on xmas parties and the storage costs for the Vending machines and mango masks, plus the museum that houses the Ferry Prop Shaft.... but quite clearly not on DRC as it hasnt started......naughty Fowlers......B
The million dollars question is what will come first???....major contract/s or another placing....
Basically cheap funds raising, or desperate even cheaper one.....:)
Your guess is good as any.....
Remains to be seen with hopes for the best outcome of the 2....
GLA.
Surprised he has not raised any money as 0.4 million is far too low given administration costs and loss. May be Pete thought he can excite market with his "triple digit bs".As things stand share-price is in terminal decline and I dont think Pete has much time .
So..... Pete is suggesting the worst is behind them and they are winning new business.... so if the 2 current MSCs bring in a steady £5M each year, and he wins another £5 - £8M on top, then he gets us back to 2019 numbers..... the thing is we were 4-6p then... now we seem to be 1.3p for the same numbers....... Plus he still thinks next year the other 2 MSCs will kick in.... so why does the market still think the company is still only worth £4M...... must be the Pete effect....... ie, he is a born "story teller"................B
Proceeds from placing £2.5m
Half year admin expenses £2.75m
Aiming... you can have a prize too.......
Pete has managed to give himself another 4 month "can kick".... all his prize contracts from June 2021 are still in the layby..... I do not understand how the Nomad can allow him to announce contract wins that have so many hurdles to jump over still.... Do we know of any other company that announces contract wins that are subject to "formalities" that then go on to never be enacted.... but the company still raises funds for start up costs when the contracts never start up.... this has to be illegal ..... surely......... B
This was mine
H1 revenue £5.5m
Net loss £750k
Cash 150k
Think I was closest:... I said
So let’s start the sweepstake:
H1 revenue: £4m............. spot on !!
Loss of £500k.......... loss was worse @ £800K
Cash : £250k...... cash was slightly better at £400K
I think Jimzi is right..... If they dont get the £3M in from their debtors, then how do they pay their creditors..... only £400K in the tin........going to be another tight year..........
I like that Pete still thinks IRAN might happen.....
I note "Protect Duty" is his next big opportunity..... lets just see how well placed you are Pete....... B
Yes, debtors very strange at £3.7m it represents the total revenue for the half year plus a bit - very poor cash managment or there is an underlying problem - creditors are high as a result and could prick the bubble if they get tetchy.
Most business would collect it and not mention an overdraft - needs explanation
Is the market still asleep?…. No reaction whatsoever….B
Who won the sweepstake:
Revenue:£3.9m
Loss:£800k
Cash:£400k
So… looks like our pig has a wig as well….
DRC…. We hear “we believe” and “expected”…to start in Q4.. no it won’t
Liberia…. Waiting for land allocation… it won’t start this year
KSA… we are winning contracts…. No your not, you won one.
Still expect to hit £13M for the year with £8.5m in.. so where is the other £5 coming from Pete?
How is the £400k going to get you through the rest of the year when you need another £2m to keep the lights on…
No nett profit again….
More crap from Pete… same old same old…..B