Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
One for those of us trying to read between the lines - -a lot to absorb here:
I am happy to see Startart purchase finally reversed - that deal stunk from day 1.
I am happy to see debt to equity at 3p
I am not happy that "at least" £500k then gets raised at 1p
I am concerned that there's still a threat around how DC funds the company....what will that result in?
I still want to know why the delay with the accounts - I still believe the auditors think this ain't a going concern.
I am at least encouraged there's some news - I now conclude I'll have to wait till later in January to get 1p for each of my shares, but that's better than zilch.
Any Thoughts?
We need to have a small amount of sympathy for Tintin
He's finally realising what most of us knew months ago - that he's been done like the rest of us.
Switch off and have a good Xmas. We pick up the pieces in the new year
For me the issue is about honesty and being brave enough to shout about it: and I do understand others don't see it this way, just want to wait etc. so it's not a criticism.....
The question for me is this: should we be patient and silent because DC is the only one who can dig us out of this hole and give us any ROI?
If that's the case I would rather go for him and bring it down anyway - rather than cower and fear him, try not to upset him because we're scared of his power. He's led us down a garden path IMHO
For me ASI is correct - if there's a case to answer it's irrelevant whether this relists or not, ROI or not - we've been badly let down IMHO and that man is the reason. The logical conclusion from the "wait and see" approach is that if this relists we should forgive and forget...
Being a captive to his whim doesn't sit well with me....he must face and accept any action for his behaviour/dealings - and ASI is also correct that LVCG shouldn't be paying his defence costs.
Jimmy thinks it's a small minority who wish him ill and 50x than number are being patient....
I'd like to double check your maths Jimmy in light of posts here .... I may not post quite so explicitly but I share their view TBH
Time is running out for us to relist Jimmy - that's a finite deadline. 3 weeks and it's already over.
If we do delist then chasing money that's already gone could be very difficult, especially if we SH's are not coordinated - although I agree we can still try after the damage is done...
I understand not wanting to pull the trigger before we know, but we have to think about all options now.
I will check out telegram
Just worth bearing in mind that should we NOT get an RNS and relisting in the next 7 working days, this message board will disappear (probably immediately) so if there's any connections or contacts still to be made among SH's now is the time. After a delist this MB won't be here to use I would suggest.....
Well, if we accept what you say (and I don't trust anything he's alleged to have said)...
It still means things must be absolutely dire - he's already a creditor (StartArt, fees etc) so for him to have had to pump in unsecured cash tells you everything about the performance and cashflow state of the company. Any auditor would pick up on that.....
If he's pumped in cash on a secured basis, then his grip becomes too strong and we're cooked.
There's a process required to deliberately allow delisting.
Remember the suspension wasn't agreed or asked for by shareholders - it was mandatory because and only because the accounts have not been submitted.
Hence my logic below.
IF and I mean IF DC has handed over cash to LVCG then we all know he's desperate to keep it alive.... which almost certainly means the new auditors ain't happy.
Let's just test out the process?
If the accounts are signed off by the auditors then LVCG have a duty to publish before delisting - otherwise they must be in breach of their duties to us. To knowingly allow delisting without the EGM process etc.
If the accounts are not signed off then after all this time that can only be because the auditors are unhappy this is a going concern
Given the latest RNS it's clear this company is in a real mess. I therefore have to conclude the latter.
Nobody, and I mean NOBODY wants to buy shares in this at 4p, 3p, even 2p.
The total book value of LVCG at suspension was about the same as it's market cap - almost exactly £5.3M
Since then more costs have racked up and what about income?
And to whom do LVCG owe money?
If you came down from Mars this morning would you invest in any PLC that cancels events, loses money, has no cash, needs an unsecured loan from the chairman during 6 months of suspension because it can't file it's accounts on time?
Lets face it Guzzler is spot on here - why do you even engage with this guy? He whispers more sweet nothings and suddenly there's hope?
I can see LVCG being debt free, but only if there's an equity issue of seismic proportions (you know who will be buying) which then leads to a compulsory buyout offer at a silly low price. - or a dilution that results in the same.
His missus has resigned (September), The senior NED (Stephen Birrell) took up a full time role elsewhere in November.
Still no meaningful RNS.