Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Surely a SELL as it was the lowest price seen all day
No private investor would have been selling at that rate so maybe it was RF dumping the last of the initial 2 Million ; They may have had some insight and so wanted to get their large top-up prior to any jump in proce
Just a thought
For me the most important statement made today which gives us all hope is that from PCS ....
"but at least there now is some "meat on the bone" for SP to negotiate further/alternative funding!" .. that would be the real blessing to get us away from the current SP lows
Becoming laughable
... Anyone on the board know a reputable Finance Guy with proven company experience/track record who could get us out of this mess by organizing £3M (say) of funds, terminating the RF deal, paying off the termination fees and REPLACING PARKER ?? ... Wishful thinking I Know !!!!!
I don't wish to see this dropping into the 20's or 10's ... some of you may see it as a wonderful buying opportunity but the Company is at major risk of a very cheap takeover at that point ;
I am actually amazed that no-one has already come in with a £300 Million offer (say) which equates to £5-£6; Or have they but we don't know because the BOD rejected them ???
Krusty - It may be worse than we all expect ... I know SAR might draw down on a further 300K and 1.4M later this month but I fear that is not all ... IMHO RF are still selling their initial 2 Million and we know this is not complete as they would have requested a top-up which has not yet happened .. and if they are selling sub 40p then it is possible this top-up could be anywhere between another 500K and 1 Million shares ... and god knows what that will do to the SP
I feel TM and SP got this fiasco all together wrong - they probably hoped the sale of 737 would come to save them but that was not the case
Personally when the RF deal was done at 103.5 I am sure they could have done a placing at 90p (say) which we would all probably have participated in if asked ... but hey-ho .. RF was the best option !!!
Since the AGM flack over the RF deal one wold hope they have been looking for alternative funding arrangements .. If not then my advice (for what its worth) would be NOT TO BUY at this level because RF have not finished destroying our Share Price yet and will shortly be given far more ammunition ..... FFS ... How much worse can it get ??
Here is hoping for some COMMS shortly ... or is that seen as a dirty word by the SAR BOD
Nm
Looks like RF pushing to get rid of initial 2 Million block IMHO before requesting another large block as top-up for the difference as most sold well below 103.5p mark + they also have the next £300K shortly
The BOD need to sort out refinancing ASAP ;
..why do you think they haven't done everything they could do to prevent market driven events..
CONSOLIDATION and MARKETING/IR/PR to name but a few ... COMMUNICATIONS is still a challenge also
..I just dont get why some are adamant that the board did everything they could to stop us being where find ourselves...
In total agreement there Potnak ... They have made some rather large managerial mistakes over the past few years without any apologies for getting things wrong ... For instance CONSOLIDATION was a complete balls-up, as many on this board warned against and there have been many time-scale slippages during this time also ... Not to mention the pizz poor COMMUNICATIONS and IR/PR non-existence; ... to name but a few
I would not exist in my Job if I had such a track record !!!!
Some can keep giving them the benefit of the doubt, but we really are still guessing about the actual states of 1801 and 737 ... I now only have faith in JR and the science ... As a managerial outfit, given the task to even find the brewery might be a challenge
See what you mean HBD - I was under the impression TM and JR were on 150K and Parker on 56K .. how wrong I was ; 200K and 92K
So it would definitely be nice to know what they are doing day on day for that level of salary .... paid by 'you guessed it'
Silver - no one here can knock puma - we may all have been pizzed off with the way in which he worded his postings but he was spot on and many of us should have paid more attention to him - He has made his money here and is probably chasing the new money which will be RF's next funding deal
Credit where credit should be given .... good luck to him
PS : Our share price is up ; must be on the back of PCS's post whereby a change in the BOD (TM and SP) might be seen as a positive given their poor performance re:Consolidation and financing + delay, delay delay .. etc
Lets see what happens in the short term
GLALTHERS
Very well articulated post PCS - You can see from the 19 recommendations already that many on this BB are getting very restless with the BOD's attitude of late .. Science is their field of expertise, management unfortunately is not
GLALTHERS
Cobalt ..All we know is that there don't appear to be any issues emerging
BUT we don't actually know anything because they are radio silent !!!!!!!
If it has been going well and they are now analysing the data then they could put out a note to say "all has gone well, no issues and we are on track to deliver the data package in or around April (say))" .. that might help with confidence as would TM and JR buying some shares rather than just being satisfied with their options !!!!
But Hey-Ho; the science is Brill; Mafuta is happy with a declining SP as the volume is low and you are happy with a declining SP because you have full trust in a BOD where TM and JR are being paid for 40 hrs per week and are woking on what exactly ??? as the dev is done and we are awaiting news ; It most certainly is NOT PR/IR .. so maybe they are filling up their calendars with jollies to conferences, paid by .... I know , the shareholders
So in a nutshell I would like to know what is going on and what they are actually doing 40 hrs per week for their salaries
Mafuta .. what you write "I would only be concerned if a price drop was accompanied by high volumes" makes no sense as it implies you are happy for the SP to drop 5% per day on low volume, as it has done since the RF engagement/disaster, but at what SP do you become concerned (10p or 0p) .... I am a LTHER and I am already concerned, not only about PARKERs financial and managerial capabilities but also about the fact that he BOD seem not to have taken onboard the shocking state of their PR attitude etc etc
But hey-ho ; The science is great ; But at a SP of 10p, a 1000% T/O offer would only equate to £1 .... I am with Andy on his message RE:EGM ;
They use H rather than Q as it gives them longer between deadline failures ... FKIN Useless Management ... but the science is BRILL
Alan - there will be no more consolidations - The BOD do not want to lose their positions from a shareholder revolt and that really would be the final straw
I fear it may be even worse than that Potnak ... yes they are about to get another 300K tranche but if i am not wrong they have not yet fully sold down the initial 2 Million block at which point I fear they will be entitled to another very large chunk which we cannot properly calculate as we do not know at what prices they sold the original shares ... but this could be anywhere up to 500K shares extra IMHO .. which really would rub salt into our wounds;
Unfortunately I no longer have any confidence in PARKER ...
This always riles me when i see comments like 'Key executives given options to incentivise them to deliver shareholder value' .. Firstly that is why they are key executives in the first place and secondly, if they are to build shareholder value then why not indicate expected direction of SP to the market by taking their options at a price far higher than todays range ... as did GGP executives a few years back with a markup on the current SP by some 40%
..... greed , greed, greed .... Just expressing my personal dissatisfaction with what executives are allowed to get away with in all companies ....
Apologies if you feel this is negative .. this is just a personal topic which I always find frustrating
Agree with the question what are the board doing but after the AGM I do feel Parker is out of his depth in terms of financial negotiating abilities ... There are only 2 ways out of this disasterous financial mess and SP collapse - Either major news or a refinancing deal to replace RF ... but is Parker able to pull this off ? Not sure, but the SP collapse is a joke and irrelevant of the 'Science is excellent' stance, lower SP's do affect companies abilities at negotiating tables - Deals normally come in the 200-400% of current SP range; 1000% now only puts us back at £4 .... what a load of BOLUX !!!!
I am a VLTHER with a large holding but cannot say I am confident with either SParker orTM in their current positions
You must be close to that 3% threshold now Laura ... Here is hoping for some good news soon
Clarets - Simple Answer - He is paid to do so !!!
As are share4, box456 and semantic