Member Info for Candid

I don’t think there will be a placing, unless the enlarged business needs more cash, which is unlikely as they have a healthy cash position at around £3m
They can quite easily acquire a company by issuing new shares as consideration to this company.

(btw AD4 are not doing a placing at 1p, they are simply issuing new shares that will effectively double the shares in issue and the current owner/s of the acquired company will become a 49% holder)

I’m estimating that due diligence with the first company should be compete by early Sept, perhaps even by next week. That sounds like the main focus.

If discussions with the other companies provide a better opportunity, we’ll hear about a term sheet in the near term.

Either way we are definitely expecting an acquisition quite soon. I suspect that the company will issue new shares to fund the transaction (similar to AD4 last week), leaving it with a healthy cash position and importantly no debt.

Anyone worked out the deal? Confusing! I’ve topped up some more today, couldn’t buy online, had to buy them by phone. I think the shareprice should be higher or am I missing something? Equity raise coming up at 148p in Sept and additionally an issue of CVR’s worth upto 122p per share??

What I read from this is that the aquistion talks are quite advanced and board will be rearranged. Perhaps the CFO from the new company may be a better fit than the existing one who is changing to another role in Australia.
Also, it looks like the company will be more focused in the UK, which is also very positive.

The JORC was the key dependency that will now enable the mining licence, offtake deal and engineering studies to be completed.
Everything going to plan.
Zambian Govt hold 5% so the mining licence should be a formality.
A run up in the price of zinc over next few months would be nice.

I am impressed with this management, over just a few months the business strategy has evolved into becoming the largest listed crypto-miner in the world by next year. What stands out for me is ‘the most efficient miner in the world’, size matters but efficiency is what makes the profits

I think this will add some credibility for cryptocurrencies. Only the worlds leading payments company...

https://www.pymnts.com/cryptocurrency/2019/mastercard-looks-to-hire-crypto-team/

Hi TT,
The nominee accounts 1st and 3rd on the list hold shares belonging to clients, interesting to know who the client/s are but is almost impossible to find that out. It might be just one client or several.

These were the top 5 holdings as of end June 2019. This has probably changed a lot since then going by the recent high trading volume, but until we get TR1’s It’s only a guess who is selling or buying.
I can work out that BMR are the 5th with 5.69%. Not sure if they are selling as didn’t somebody on here mention they are in a locked-in period?
Anyway, it will also be interesting to know who number 1 and number 3 is on the list as they are held in nominee accounts so I can’t tell.

1. Jim Nominees Ltd - 23.99%
2. Colin Bird - 12.81%
3. The Bank of New York (nominees) Ltd - 10.58%
4. Peel Hunt Holdings Ltd - 7.72%
5. Pershing Nominees Ltd - 5.69% (BMR)

The company is now in discussions with more than one company regarding an acquisition.
A term sheet has already been signed with ‘company1’ as per the RNS. It is highly likely that a formal agreement also needs to be entered with ‘company2’ so my view is that this could be announced next week.
Buy and hold until this deal plays out.

So the company have raised approx €560,000 and say that the ‘net amount will be used to acquire and develop assets in the middle east and africa’.
I really can’t really see a meaningful purchase with funds of only €560k...
These new ‘rich investors’ Tamraz and Fayad have invested only €185,000 each at 1.25c, so if anything is going to happen here they will have to dip much much deeper into their pockets!

Any thoughts/comments on Firetower and Blackhills drilling?

1) Firetower (Tasmania) 15 hole, 2000m campaign began approx 19th June
Drill results should be imminent here, 2 months turnaround quite reasonable unless things work more slowly in Tasmania.

2) Blackhills - 20 hole, 6000m campaign. Started approx 9th July.
Taking a 2 month timeframe, we should see results mid-Sept? unless drilling results will be announced in stages

GLA

It seems that there is a lot dependant on the Aegerion bankruptcy case to complete, I think it will happen.
If Amryt manage to pick up Aegerion as planned it will be a very shrewd deal.

https://www.thepharmaletter.com/article/novelion-to-miss-reporting-deadline-due-to-aegerion-split

agreed, a rising shareprice on high volume is always a good indicator.

Although the news today is not great I’m glad all this bad news surrounding the banking product has been flushed out now and the company can focus on delivering the new strategy.
I’m encouraged to hear that there is more than one M&A opportunity now, which to me suggests they have strong industry interest in their technology and IP and can pick and choose the best deal, perhaps multiple deals are possible too.
In answer to an earlier comment, you won’t see any director buys as they will have a closed trading window in place while aquistion and merger talks are in progress.

seems like they are putting the banking solutions completely on the back-burner now and focussing on opportunities where their technology can generate strong revenue.
I think we’ll see news about the aquisition in a couple of months, perhaps multiple. In the meantime a good opportunity to buy at these bargain levels.
“The Company has adequate cash reserves to support its business plan in 2020”

It could be a number of reasons, such as:
1) filling a large sell order (the freefloat is very small)
2) possible placing to address the reported funding shortfall this year

Operationally ARB is going from strength to strength, very impressive management team.
We all know that Bitcoin price is volatile, but if it averages $10k for the rest of the year, which I think is highly likely, we’ll see some serious money coming in and a strong re-rate.
If next year continues with a $10k BTC average, or perhaps more, the company is due for a very strong re-rate.

This financing deal is a huge show of confidence in the project, which will almost certainly go ahead now, barring anything unexpected.
This is now officially on Institution’s and Pension Fund’s radar.

While we wait for news on the acquisition, interesting to see Adept4 group (AD4) jump 200% earlier today on news of a planned acquisition...Don’t think there is any link, but just shows how much these oversold companies can move on new strategies.