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Why 30k? What's wrong with the square root of ferk-all?

I also agree. The proposed deal looked like two cripples trying to share one walking stick. It wasn't a good deal for either company.
Mind you, KDNC will live to fight another day...I'm not so sure about the pile of steaming manure I'm invested in.

I'm going to try to polish this particular turd, I'd say we're probably better off without KDNC, but ONLY if we can find a partner with deeper pockets and, let's be honest, Roach is not really the bloke to do it.
If Roach gets another call from Lenigas saying; "I've found just the partner for you", he should hang-up the phone.

Bad news travels slowly.
I hope I'm wrong, but I'm not convinced this is going to happen.

Draft, believe what you want, I'm simply reporting what's actually going on right now within the sector. And if you knew anything at all, which you probably don't, you'd understand that the trend I referred to is being reported across multiple companies.
Sadly, you represent the very worse type of poster on these boards...totally lacking in objectivity, immune to anything that doesn't accord with your own narrow view and ultimately, a danger to your own wealth.
As it happens, and as I've said previously on this bb, I think this company is in with a good shout. But it strikes me as being pretty daft to ignore facts as they relate to the sector in which any company operates. And, as successful as Sorrell has been in the past, it is absolutely no guarantee of success in the future...particularly aged 71.

Everyone's getting very excited about this and perhaps with good reason, but just a cautionary note: My daughter works in a senior position in exactly the same space that Sorrell is seeking to park his tank. The fact is all companies in this sector are struggling at the moment. Advertising budgets are being pared-back significantly as clients are becoming extremely cautious about the future. Companies in the space are re-assessing their own models and redundancies are increasing.
She tells me that many people in her world are watching S4 with interest and many think that he may not have chosen the best time to launch.
No doubt there will be a great opportunity for a short term gain, but over the medium term things may be a bit more difficult.
Please don't accuse me of de-ramping, I'm simply pointing out what's actually going on at the moment.

what's the feeling chaps; are you going to come to our rescue over at Prem, or don't you like the look of it?
Tomorrow's the day.

Crude, I wish we knew!
Initially we had been told to expect news of funding "within the next few months"...that was over a month ago.
Subsequent emails from the company have appeared to suggest we will not see this announcement as they seem to be happy with the cash reserves they have and will wait for the market to recover before attempting to tap the market again.
These two statements were directly contradictory and the company has not sought to clarify the situation.
In the meantime, we should get a quarterly update fairly soon.
Hope this helps.

BTW Pred, it's been interesting to watch as the scales have gradually fallen from your and other previously self-declared groupies, eyes. I applaud your Damascene conversion.

I'm still happy with BCN, albeit a tad frustrated. The difference between the two companies is one has £2bn of assets and one doesn't. And the one that does't is'nt BCN.

alfista, and you should never forget the inspired share price calculations so generously provided by Mr Squid.
£2BN worth of deals, with no dilution = £50.00p per share. How many people were deluded enough to believe this tosh and actually bought as a result?

schiemel, I think you're correct. It's entirely possible that BHP weren't quite ready to go full-out for the company (perhaps waiting for more results to come through), but were offered an opportunity that may have gone elsewhere had they declined it. In other words, they're hedging their bets whilst they put together their strategy.

What on earth is the point of fretting about minor short term price movements? You either believe in the story, or you don't. If it does indeed happen, 1/2/3p here or there will be completely irrelevant.

Kluck, it was an analysis of the threats and opportunities that Shell faces. The argument was that Shell are ahead of their competitors and are taking a much more radical approach. This is borne out by the acquisitions they've made recently.
BCN would be a drop in the proverbial for Shell and I'd be happy to accept an offer at £3 per share. The only problem is they don't know anything about mining; but they can buy all that expertise.

I bet Mr McDermott gets paid a fortune for dispensing that advice; whereas you can get it free from me!

This is a very interesting company, but the problem is the spread and lack of liquidity of the stock. It's almost as if they don't want people to buy.

As part of their massive drive for diversification away from oil.
The article, which i think was in the Telegraph, showed what they have been buying recently and explained the absolute imperative for them to move into renewable sources. They are ahead of the field in this respect and the expectation is that they will lead the way.
Obviously, I'm indulging in wild speculation, but stranger things have happened.

For once, an announcement of real significance.

And by the way, having read a profile about Shell yesterday, they will be the 'farmee'.

PS is relaxed at the moment because the company doesn't need the cash immediately. It has more than enough to complete the design phase. But, as has been said before, why would a lender advance $25m to complete this task if there were serious concerns about the overall project? Answer: it wouldn't.
When PS joined the company he made it plain that he wasn't a 'production man'. We all assumed this meant he would prove the concept and sell the asset and subsequently repeat the trick with Zinnwald. Does a leopard change it's spots?
My view is that the board and shareholders have been divided about how far to take Sonora. There would be those in favour of development and those against. It was agreed to go the development route, but a Plan B would have to be put in place in the event of failure. It has failed and now Plan B is in motion.
I reckon this will involve a form of 'farm-in' with a major coming on-board and effectively taking control of Sonora. SGRF will be allowed to subscribe at this stage. Given the difficulties in the capital markets, which I don't see improving any time soon, it has been decided that this is the best way to provide security for the project whilst simultaneously allowing existing shareholders to share in the upside. Discussions with a major will have been going on for a while and an announcement will appear by year-end.
Okay, it's yet more speculation, but it may explain why PS didn't appear to be wetting himself when he talked about the failed placing.