Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yes, I would agree that NGL now needs to fulfil its potential! It's certainly sitting on a lot of gold - how about a 20p takeover from the Chinese?
Serious losses by big investors? How does issuing more shares help them? We all want our pound of flesh! Let's stick to mining 80,000 ounces of gold per annum @ $300 profit which equates to $24m profit per annum. If the price of gold rockets as I'm expecting it will, NGL will make even more profit. This could be the multi-bagger of all multi-baggers but I'm not holding my breath...
I've received a reply from my broker indicating that transferring the registration of my shares to Australia might be possible and, if it is, would I like to proceed? Not quite the clarification I was asking for! I imagine it's the only way to enable me to trade my shares in the future but I would've preferred a definite answer including the costs involved. As for ARCW's assertion that NGL is about to dilute shareholders by issuing yet more shares - I hope they don't. The reason for the suspension in the first place was supposed to be down to a cashflow problem - surely a short-term loan from major shareholders would solve the problem? And what's happened to the Chinese miner who was supposed to invest in NGL - I'm sure they could buy the company with their petty cash.
Are the rest of NGL's UK shareholders content to give up? We still own shares in the company.
NGL's website (under Investor Relations) mentions a facility for transferring the registration of shareholdings from London to Australia and vice versa so maybe all is not lost. I've emailed my broker to ask for clarification. I'd be interested to know how many UK shareholders will be left high and dry if transferring to the ASX is not possible. Is there scope for compensation for our losses from the AIM Regulator?
Cancellation of an AIM listing is supposed to require the approval of 75% of shareholders but AIM Regulation may use its discretion to waive the requirement for shareholder consent if an AIM company‟s securities will continue to be traded on a comparable dealing facility. Is the ASX a comparable dealing facility? I look forward to clarification of whether AIM shares are tradeable in Australia or are UK shareholders simply wiped out?
Thought about topping-up (how I hate that phrase!) sub-10p but it would've only reduced my average from 16.2p to 14.7p which is neither here nor there. And I'd end up risking more than I'm comfortable with. Just finished reading a book about Peter Cundill who was a value investor - as far as TRAP is concerned, I can't help thinking he would've broken his own rule about not investing more than 10% in one share! Considering the income from Athena it does appear to be a no-brainer but that's not to say it won't fall further. Grrr!
I have no idea what's going on! The spread is ridiculous and I suspect the trust is bust. Much like ALPH except it's rocketed 150% from its recent lows. Despite me and Investors Chronicle deciding the shares were worthless.
I hope AQP are paying their workers fairly! I earn peanuts working for a company who could double my hourly rate and still make a profit on what they charge their customers for my services. The profits on the goods I deliver are in a different league. Capitalism stinks but it's the way of the world. It's a pity the rich don't realise that giving the poor more money actually makes sense.