Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
During the last economic crisis the price of iron tumbled. At the time, I was invested in a producer that went under. I'm expecting another downturn sooner or later (how can there not be one with all this turmoil). I just hope with this investment, and other potential investments, that we're not overreaching.
I do recall at the time when the UK voted to exit the EU that a lot of our cash was held in pounds. We suffered from the devaluation and RY subsequently made the move to US dollar, which was a good move. My point is, it is no bad thing to hold cash and protect yourself from a downturn in the global economy during these fragile times.
I was a little uncertain on the funding question. Gabriele confirmed they could not say more than what has already been announced. Dr Shailubhai then said we've got enough cash to 2021. If that's the case, then why have we got the ATM facility, which seemingly hasn't yielded up to its capacity. So my guess on that is that it will be extended.
It just creates a bit of a mismatch again between TILS and TLSA, which should not happen
There's certainly no cut off yet for TILS. Gabriele mentioned that the record date would be discussed in 2 weeks. I had thought someone mentioned they heard at the AGM that they would announce something on that two weeks ago. If that's the case then its getting pushed a little further out.
you get the feeling GC wants to keep a lid on things and KS is excitable and wants to release more info
This is a positive development which should be received well. I wonder if the ATM facility will be extended into August as, although they're not anticipating raising cash in the UK, they do not exclude the US:
"....no current intention to raise capital through the issue of new shares in the UK."
The flip side of this could be that TILS has been increasing marketing activity (two very recent interviews) with little new information to go with it. That may be to try and attract more investment and take up the ATMs or some other approach to help cash the business up in advance of the split.
It looks more attractive to hold TLSA rather than TILS at the moment, but no doubt they will soon equalise (either TLSA will come up or TILS will move down). There is exchange rate risk in holding TLSA though - the US has gone quite big with their QE programme and so the dollar is weakening and will likely continue to weaken (which helps to explain why gold is doing rather well)
Say you wanted to invest £1000 into a stock and say the cost of a trade is £10. When you buy that stock, if you include the charges, then you will get £990 worth of that stock (£1000 minus £10). If you exclude, then you get £1000 worth of the stock and you will additionally be charged £10 upfront - so the payment you will make upfront is £1010. There are no charges relating to that particular trade later down the line.
If I was strategising this, I would announce this week the record date now, which I would set to be the end of the month. You will then watch folks pouring in, and that would be the opportune time to issue ATMs at the raised prices to quickly get to £20m (can't remember if it is £ or $), if they haven't reached that amount already.
There's nothing inconsistent in the two statements. The Russian authorities would need to authorise an extension if AMC were to request one.
I wonder if this may all end up being a moot point. If there was a material breach, then perhaps the course of action to take is to legally rip up the PSA, and the compromise with GOGC is to create a fresh one under another FRR entity. Outrider can then have all of the assets under the FRR entity it is in dispute with.
Personally, I would be against sending the letter as I don't think there's anything to be gained from it. Do you think it will illicit a response from the lawyer? I'd hope not as it would be unprofessional and show that he has too much time on his hands if he responds to a random person (albeit a shareholder).
I haven't read the documents posted and have no idea if they are genuine or fake. If they are genuine, then why not let things run and continue to hope for more snippets from JJ?
A position where Frontera could lose the whole block does not reconcile with the $60m financing deal that was apparently agreed. If indeed that arrangement was made, you'd want a whole load of assurances before you part with that kind of money especially with FRR in a precarious position.
One more thing...someone mentioned that they couldn't see why Zaza wouldn't want the report released as there was no confidential information in it. You'd expect some confidential information wouldn't you? Perhaps commercially sensitive information?
I've missed the last few days' action so I haven't seen the document posted nor do I want to.
Who knows whether the document is real/fake/doctored. I doubt it was a former employee or someone connected with GOGC - what is to be gained from posting it on LSE? If I were an employee then my first port of call would be a Georgian media outlet where I could hand it over anonymously and make a tenner or two.
If I were someone connected with the GOGC then, again, I would pass it onto the media so that I could gain immediate and far-reaching coverage to the audience that I want to get it to - the Georgian people.
So it seems odd that it would be posted on this site where you get one or two antagonists to jump on it and rile a few people up - and that seems to have been successful in some cases.
If it is real then I expect it to come out in the wash very soon. Until then, I shall remain relaxed.
Perhaps it's due to a foreign entity not being able to own more than 25% of the asset?
Germans leading the way in Europe to provide EV incentives. Others will follow imo (although very slowly in some cases)
https://www.reuters.com/article/us-health-coronavirus-germany-autos/german-auto-stimulus-to-boost-volkswagens-electric-push-idUSKBN23B0XG
If you don't like the posts from certain posters on here can you please just filter each other because frankly it's just getting boring.
I would say carry on if the jousting was mildly humorous but sadly its lacking in that department as well. Human behaviour never ceases to amaze where some people expend so much energy on those that give them negative vibes.
That is assuming they have signed off on that statement. My view is that is a management representation which they will have signed off on, not KPMG. KPMG will, wherever they can, disclaim responsibility.