Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Looks set to drop further into the 1p abyss next week. Would love to know what's happened to those "very progressed" OEM conversations, although seems pretty obvious what's happened. Maybe they could save some money cutting directors salaries..
The board unanimously recommends you vote in favour of huge further dilution -
This resolution increases the authorised share capital by NIS 150,000 to NIS 300,000 then consisting of 300,000,000 Ordinary Shares, each having a nominal value of NIS 0.001, and amends the Company’s articles of association to reflect said increase in the authorised share capital.
They stated in the AR that FTTR deployment was delayed - seems like a pretty obvious setup for coming in under. The going concern was also contingent on there being no component or customer delays so they can easily say "well you were warned!" if it all goes t*ts up
Pretty dismal. They re-priced the warrants when the SP was 400% away from 15p and now with the recent collapse the warrants are again edging up to that kind of distance from 6p. Where's the OEM that was in "very progressed" talks 3 months ago?
If they convert another tranche it's going to be another 10m odd shares. It strengthened the balance sheet in the short term to decimate the valuation in the long term. Oh and if that was an "orderly market" then I'd like to see the definition..
Usually companies (eg SAE the other day) know well before the date and notify that they will not be able to publish the AR in time. It's tomorrow or suspension then as I don't see an RNS this morning
However for investors there very little reason to believe a 150% rise in the share price is likely. No positive news of any great significance in 2023, the talk of being in "very progressed" talks over 3 months ago was either premature or the OEM has decided to take their business elsewhere. And let's not even mention the B word..