Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Nothing really of note in this update in my opinion and nothing which is going to move this to the upside in terms of Apollo position.
Looking over some of the RNS' over the last few days (and certainly not all of them) I am coming around to the position the deal is not going to get done. The hare price is slowly going down day on day and with the deadline only a few business days away I feel the daily slide may pick up momentum next week.
Interested to hear thoughts from. those a lot more experienced than my in reading the tea leaves.
As always there is of course varying views on buying, holding and selling. It all depends on what your holding cost is and what your time horizon is I suppose. With only just over a week to go to the latest deadline I tend to lean towards casapino's view - not a lot of buying to suggest big investors taking the opportunity for the +10%
OWLS
I thought about selling out too but decided to hold tight and see how things develop over the next couple of weeks. I'm still under water at this level (more than your 3%) but sooner or later I believe I can cut my losses
Havnt got the time or inclination to keep tabs on the 8.3's but at a high level there seems to be more selling than buying going on so would assume those doing the selling at around this price believe a deal. is not going to be done or perhaps they are simply nickel and diming on a daily basis.
Daily movements are small overall but definitely a tracking down of the share price lately. Maybe this will change as the new date for the deal/no deal approaches.
I'm in the same boat in regards to the offer versus my average price but it is what it is I suppose and yet we still "play the game".
This just drags on and on and I'm getting to the point I just want to get it over and done with and move forward
Aspers
Can't argue with that. Unfortunately the small individual investor wiling to wait for that value to materialise will not have a lot of say in the sale to Apollo should they come in with an offer. Large institutions will decide what they are willing to accept
Pokerchips
The premium on the table (237) against todays price is pretty good and I don't think Apollo will see anything in the results today that will make them move much on that (maybe a token move to 240p. If Wood agreed/promoted an extension to Apollo on the basis the results would move the needle then its not had the desired effect.
I'm on the fence about a deal even going ahead. Major shareholders can definitely find a better place for their money at this point in time although some of the big boys may be taking quite a haircut at 237p
LWHL
I tend to agree. Results are not startling and a bird in hand etc. Offer at 237 is a significant premium (18%)on where this is settling at the moment. I do think the company has great promise but delivery is a long way away and past performance has not been startling to say the least
I really don't think there is another bidder interested at this time. Telling point and time to show any cards all be after the results. The downward movement suggests - at least to me - the market is tending to price in a no deal and results in line with expectations.
All very good points from posters who have a lot more experience in these things than I do but it does trouble me that the share price keeps dropping. It's as if investors have priced in no deal and are taking the bounce on the basis this will slowly settle back down to pre rumour levels.
I don't know about that. It's worth what the market will pay and the way this is going down 237p looks good! I am of the opinion BOD will find it very difficult to justify any offer over that with the price dropping the way it is. Extension to the deadline given last week only strengthens Apollo's position in the current market
You are not. the only weak one. I'm in the same position. I can't see another bidder coming in and if Apollo don't do a deal for whatever reason then it's 150p again and a long long. time before it see's 240p - money better put to work somewhere else