Member Info for Billions

Initially it was non binding bids then became proposals. Non binding offers are not credible bids. They can't be accepted because of the caveats and need for additional negotiation.

It doesn't matter if JN jumped ship, he probably got paid loads to salvage the failed situation. Lesego did not table any bid when the sp was a fraction of current level. The BoD have a habit of papering of cracks with misinformation and promise of more jam tomorrow.

This has been one of the most manipulated and ramped shares on AIM. A lot of the hype has been generated outside RNS which is telling. The market is now pricing an increased chance of no sale based on BoD track record and many seem to be exiting:

Remember:
- Lesego walked away when the price was in pence
- FSP failed to generate any bids

Now down to one party and a proposal. Looking flaky imo.

One of the main reasons this is now drifting is the past incessant ramping and nonsense here of a guaranteed 10 bagger and multi pound dividends.

In reality the majority of investors in the last 6 months are underwater. And inevitably they cut their losses.

The other reason is vague, cryptic, badly worded and confusing RNS's from the board.

It is unlikely the 20m is for the earnout. These are the costs being incurred for any work being done. This is the same as the 8m already incurred for these jv assets.

This work will determine the cost for purchasing the licences and triggering the earnout. This will likes be in the 10s if not 100s millions.

Commodity prices and successful ramp up are the big risks with early stage miners.

So far wk has not been a great advert for producing successfully and with profit 2020 financials will give a better picture of whether this can be achieved on a much bigger scale.

Looks like the sun has has fried some brains today....

70ish is the ball park for the whole company. ACF didn't just do this for fun. It's to manage expectations by the BoD.

There is a decent chance that the final offer may not materialise hence the discounted price. Every spike has been sold into and there has been a big seller for weeks.... this speaks more than the nonsense on here!!!

Yes. That bit makes sense. I previously speculated on this. It could only be Queeld and Veles who voted against the EGM. Both didn't report their 8.5 disclosures I believe so it would fit.

Can only speculate on the reason, they didn't obviously want to get diluted but would have thought they reluctantly vote for to secure a sale.

Only reason could be sale took a back shelf to rosgeo or a preference to diy mine mt gained traction.

Agree, Completely fictional nonsense. If it were true it would mean the board intentiaonally lied and misled.

Have to admit it very contradictory. I remember the majority of the posters saying the JV will not cost a penny due to the earnout.... so wrong as always. This has cost over £20m already and I don't believe the licences have even been purchased yet. That is going to be a substantial cost imo.

It's a bit strange and contradictory, info is publically available but not a peep from the BoD for shareholders. Where are the NDAs and risk of jeopardizing the deal now.

More than likely this has very little if anything to do with EUA. Speculation and conjecture as always.

Lack of detail/ time is an understatement. Since maybe late 2019 nothing meaningful (ex Rosgeo) has been released regarding the potential sale. It's been the same recycled information over and over again.

Well done mac, an actual post where you engage your brain and construct a sentance rather than your usual copy paste drivel.

Shame it still doesn't bring anything original to constructive... baby steps... you'll get there.

GLG. Your getting confused and embarrassing yourself. Go have a lie down.

After the number of times you have been wrong you have zero credibility. I'm no longer going to acknowledge or legitimise your nonsense by replying.

Yep good that they are moving on this quickly and looking to monetize. But again it would have been so much more positive if they actually detailed which licences they triggered along with details of the rationale. "Certain" projects just adds to the mountains of uncertainty.

The sp reaction is directly related to the vague and confusing communication from the RNS.

What's makes it worse is the stupidity of some of the posters here, read mental judge, GLG and Ian who will argue night is day to mislead and misinform. It's good to have views but keep them balanced and stop acting like stooges.

The list of BoD secrets gets longer and longer.... the shareholders will always be the last to know anything.

Trick/Sharp eye thank you for you value add analysis that really clarifies the situation.

Your insights and the Bart Simpson impressions all morning would be enough to put potential investors off.

Nitkorev, considering the FSP is akin to a sell side m&a auction, outrageous prices were conceivable. Now that it is over without any binding bids, we are back to the realms of reality.

Unknown amount of proven metal
Unknown sale price
Unknown buyer
Unknown timeline
Unknown probability of sale

All we have is pure conjecture and unsubstantiated speculation on this BB...

That would explain why the sp where it is.

What you are saying makes no sense. If you revalue and dispose there will be no gain. Mining licences always recorded at cost unless purchased as per the accounting policy. Any additional development will be added as capitalised costs as incurred.

I'm not saying it will happen. But looking at the financial statements not sure how you can say WK is not the most significant asset from a balance sheet and income statement perspective.

What AFC, posters on here or the BOD think they are worth can't be recorded as an asset value so has no bearing on disposal value.

We have to agree to disagree then. As it stands 2 assets are on the balance sheet, WK at nearly 5x MT value. WK is the substantial asset, especially because it contributes 100% of revenue and profit/loss.

We will find out soon enough.