Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Winnifrith knew there may be a fundraise because he asked Bird via online chat during his 2nd webcast show to incorporate Primary Bid into any future raise - Bird replied via online chat saying point noted.
One has to be very careful of TW & Co, just recently a Twitter account has drawn attention to certain antics of Sh@reprophets, noting that some of their largest 'attack's have resulted in massive share price gains a few months after.
I have lost the will to live with this Xtract, especially in respect of what Colin Bird says to the shareholders at AGM's and during podcasts and what eventually happens and how he operates. The long suffering shareholders always seem to be firefighting.
During that 2nd TW event Bird confirmed he personally made $18m out of one project he sold to a major, he clearly has no money worries thus no real incentive to deliver value to any of his many listed entities, in fact at Tiger (TIR) there appears to be a shareholder revolt, TW suggested he has possession of a requisition letter, one poster on another BB suggests Bird simply uses AIM as a plaything and wants to get involved with his removal.
What has got TW's goat up are the links Xtract have with... Novum - Bellis - Sanderson - Malik (ex Beaufort)
No idea where the shares will be heading but clearly there has to be support around current levels IMO.
I think on this occasion TW has more to answer for than CB. The difference between him promoting Xtract and then blowing it out is one measly placement fundraise. I dont ever recall Bird saying there would be no further fundraising. Teddy out of cot springs to mind and his actions have certainly had more damaging implications on the Share Price than Bird himself.
Just looking through posts after 12,00 now.. and would offer to Gixxer that there are a myriad ways TW could get wind of a placement in the making, aside from CB telling him.. most likely the broker will be canvasing around looking for participants and TW will easily get wind of it.... sure he may then go to CB and say you need to go another way about raising this time etc.. and in the end throws his toys out of the pram etc.. .. So any investigation should start with TW and where he gleaned such info and then be grown out from there.. but they'll not do any I expect as such canvassing noise about placement is always giving out inside info. out, by definition... and only if participants are directly seen to sell down ahead of placement and then participate in placements are there deemed grounds to investigate, i'd guess .. and I'll bet for eg TW didn't directly take part in this placement.. and all are well versed generally in avoiding investigations being started..
( CB has been around a long time and is far from dumb, so i'd be amazed if he directly gives out such inside info to TW or anyone else )
Hello Andrew,
That is correct - but I think we were all a lot more confident back in June that SA were about to open up borders at any time and CB certainly thought we would be earning up to $500,000 per month going into November.
Looks like everything is delayed a minimum of 4 months on the Fairbride hard rock side, so not a complete surprise that cash is now low.
At least we still have Guy Fawkes income to look forward to before Xmas - assuming no more delays - and that should help to bolster the SP?
Then there is 'Alluvials II'- The Sequel, which is supposed to be in the can and which could prove to be quite a feature...
The base case for investment is still here. Production and cash flow as per TW original points . Now the bucket funding has been done (TW wanted to go down the loan route not dilution from memory) the upside still remains. It doesn't look good that some Novum accounts may have short sold into this issue and that should be looked at , but going forward there is significant upside to be had . Have added here at 1.27.
20 June not 30
On 30 June CE reported that CB had assured him that he has no intention to raise funds for the 'foreseeable future'.
Now I guess its down to the interpretation of the phrase ' foreseeable future'. Some may say 3 months is outside that period so CB's not mislead anyone.
Others wont see it like that.
Today's raise further shores my opinion that you cannot believe a word that comes out of CB's mouth. He would have been fully aware of TW's comments regarding a raise and he still went on to say, on record, that he had no idea why the SP had dropped. Waiting a few weeks for the dust to settle Colin does not change the fact that price sensitive news has been leaked and had benefitted certain holders (X-holders)
TW seems to have know well in advance, how did he know? - I really hope that it didn't come from CB himself in an offline convo. Surely something for the FCA to investigate.....
Moz gold
Well if TW can be trusted more than your CEO we're in a spot of trouble...raising now surely puts doubt in the delivery of the mining equipment to Manica...if we'd of announced that we'd have had an SP rise I'd have thought..are we being kept in the dark on this also .after the mix gold issue of wrong plant and 400k who now really knows
Share Prophets
TW has certainly gone to town on "Calamity Bird" and his advisors today on the ************* website. And they were mates just two months ago!
The placing was more or less inevitable given the number of exploration targets the company now has - much drilling in Oz and Zambia still to take place. That and the paucity of alluvial income this year and the delay in getting Manica HR to be income-generating. Now that it's out of the way, though, I hope for a steady increase in SP over the next few months as progress is made on a number of fronts.
You can't move on a discussion of CB without the next placing being mentioned..from having a company on the verge of a great rise in SP if he hadn't delayed Manica for 6months plus to a continued dilution of the company, the Chilean cycle looks like it about to be repeated...
interesting time to put out the half year report.
Classic Bird.
But not a(n) 'ard read, in fairness
'Burying' production news to an extent though....already clear it was towards semi joke levels in this period anyway granted... but also plenty of hope for the future within it too imho.
An attempt to move the debate on from the placing as quickly as possible imho..
Is now a more reliable source of information than Colin Bird