We appear to be an AIM listed mining/exploration company that is currently trading on a forward Price/Earning Ratio of below 8 I think the market may not understand the words mining, exploration and earnings being used in the same sentence.
Well Lupi, it is a bit of a mystery. I can sort of see your theory of why LC isn't contributing any value until we have the scores on the doors so to speak, or at least a concrete calculation of how we get the scores. But what about Cobre extension? We know that makes profit. Last Redmoor results, very positive and should lead to a good PFS HC initial results, again positive, again no SP movement. I'm a bit baffled by it all to be honest. I'm sure the market will catch up at some point, otherwise I'm calling Mystery Inc.
If they convert and sell then there will be a lot more shares coming into the market which may hold the SP while they churn but obviously they will have different objectives than hedge funds or ii's who I believe would be more likely to turn over any converted shares to meet their objectives. Plus the wealth fund have a vested interest in our final product, probably makes them more likely to hold. I think we should get a boost from resource upgrade, to what extend I don't know, but Uranium price and sentiment will be the main driver here. IMO
Interesting question. I hold both SXX and HUR and their bonds are redeemable at 25p and 39-41p respectively. The thought on these bonds are that they are held by numerous institutions, hedge funds etc and will prove a brake on the SP until they are converted as not all the holders will have an interest in holding the equity that they redeem them for. It also provides liquidity to the shares, I believe we witnessed this with SXX when it moved to the 250 and we may see something similar with HUR when (or indeed if) it moves to the main market. BKY is somewhat of a different situation with only one bond holder and a bond holder that may have more of an interest in keeping the equity, or at least a large proportion of it, when they convert. If they don't sell when converted it should have a greater effect on upward SP movement as obviously they won't be putting their shares into the market. So basically I have no idea! Let's wait and see what happens.
Didn't think I'd get the opportunity to buy at this level again.
A-Cap and Deep Yellow (both ASX) are worth casting an eye over
I'm only showing a 33% loss now, which is practically a profit as far as AXM goes, happy days
I never trust any website that takes longer to load than the LSE bulletin board! Besides, anyone ever tried getting any kind of paperwork done in Spain? Its a pretty bureaucratic, longwinded and banging head against a wall kind of process. Never mind getting permits for a Uranium mine!
As of now the company has 179m shares in issues at a price of 5.5p, which values the company or roughly �10m. When the deal is done Phoenix will be acquiring 248m shares at a price of 2.5p, these will be extra shares so there will be 427m shares in issue. On completion if the SP is at the following prices the company will be valued as follows 2.5p � �10.5m 5.5p � �23m 10p (the mythical double figures) - �42.7m 20p (!) - �85.4m So you can work your numbers, come up with what you think is a reasonable valuation for the company and see how it compares to the above. As part of this deal Phoenix are taking care of the debt (in one way shape or form), not writing it off but sweetening it with a 5 year grace period to turn the business around. They will hold the security for the debt (company assets I expect), of which they will already own 58% of anyway as they now own 58% of the company. So looking at the book value they are probably well covered if disaster strikes. So, if it all goes tits up, Phoenix have first call on the assets (a bit of security for them) as they are now responsible for the debt owed to RBS. What it boils down to is this Phoenix are �in theory� paying a total of �23.7m to rescue the company, �6.2m in cash and taking �17m of debt. The debt will still need to be repaid but if you owe it to someone who owns the company they will be a little more relaxed. So, �6.2m for 58% of the company means Phoenix value it at �10.5m (2.5p), that�s what it is valued at as of today with an SP of 5.5p, which is why the SP is sitting at this level (you get the same when a takeover bid is put on the table) BUT the question you have to ask yourself is�.is the company worth �23m (which is what it will be valued at with an SP of 5.5p when the new shares hit) It would seem a fair valuation based on the fact they were trading at 10p + before the uncertainty of the loan situation but work your potential valuations on the new shares that are going to be in issue. I don�t hold at the minute but have been in and out of this. If I did hold it I would be accepting the offer, I don�t really see what other choice there is to be honest.
With a dilution of around 60% at a price of max 2.5p I think you'll have as much chance of having a good day tomorrow as you will seeing your 20p in 6 months! But at least they aren't going to go under so that's good news, good luck to you all.
Sounds like good news at a cursory read, although I'm always suspicious of the words 'subject to securing the necessary funding' and not even a nudge on the SP, I think the only thing that will get us going is a RNS which opens 'we have received a payment of...' Now where did I put those biscuits?
'Just looking at Kefi too, any opinions?' KEFI's next step will require raising money, the options on the table for this seem to keep moving. I, personally, would wait to see what happens with this before investing there. You might end up paying more but there will be a more certain route to production from there. I also dont warm to the BOD of KEFI for some reason. Just my opinion however
Yeah I have the same problem but with TSX stocks (unles they are dual listed in US), might look at a nee platform for next ISA season
Yeah I have the same problem but with TSX stocks (unles they are dual listed in US), might look at a nee platform for next ISA season
U - BKY, DYL, GGG, looking at NexGen but it's not cheap and a USA holding but can't seem to decide. Au - HUM, CORA & Small holding in SHG Ag - can't find anything I like. Been in and out of BCN for lithium (obviously at the wrong times so made nothing there) SML as a long shot small mixed commodity play, like the look of THS (probably my next buy after I get IMB dividend) and also very tempted by HZM. But I'm tempted to hold some cash to short the market
Hello, Alexander Mining ... Yes, of course they're serious... You do?... You have?... No kidding! Just gimme the address... Oh sure, they will be totally discreet. Thank you!
If there's a steady paycheck in it, I'll believe anything you say.
Markets gone mad IMO. This is now yielding over 5%, pays quarterly, has increased dividends year on year and has reasonable dividend cover. There will certainly be a point where the dividend yield alone puts in back into favour surely?
I think 'meh' sums it up quite nicely.
Never mind all that. Didn't this company win an award for communication to shareholders or something? Would be nice to have something to read (even if its a tweet) while the share price slips slowly south.