Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
A lot of board decisions as everyone has outlined have really gone against all logic in my opinion, and the SP is reflecting that with very little confidence. I really know the board know what they are doing and have a plan rather than “helping a mate” with a struggling company (Arden). I’m still holding for the long term but it’s been a complete shambles over the past 12 months, really disappointing.
Looks like quite a nice dividend yield at these prices, especially if it’s minimum 50p per share so could have further upside. It’s nice they have finally got their house in order and everything looks to be cleaned up too.
That would be nice!
Big rise this afternoon, not sure why. But happy about it…. Getting closer to the original Arden all share takeover price agreed too.
Yep looks like that way- real manipulation in an illiquid market I think.
A (small) divi has been reinstated, and results looks pretty good to me! Arden takeover still steaming ahead though. Hopefully the market will at least take the first 2 parts positively.
It is unusual- is there a big seller in the background? It’s great for the share buy back as the lower the share price the more shares get bought for that $100m and cancelled. Potentially a bit of manipulation as usual.
Just got the notification through on my account and I’m obviously not going to take it given the current share price. Surely they are going to raise zero unless people stupidly accept at 7p? They only have until 12th to pump the price up and make it make sense?
A lot of selling going on, as expected given the confidence dampener from recent events. I’m holding on as I think they are still undervalued, and there are too many directors shares issued at 45p from that last raise. However it will be interesting to see how this buy out goes, as the share swap calc was based on Ince having a 58p per share valuation if I remember correctly.
The 4 week deadline is this Friday right? I emailed IR and got a generic email reply, gave no real information.
Getting a little concerned….
My concern is the placing price for the 2 guaranteed buys say “up to 7.5p” NOT at 7.5p unless I have misread? What will be bookrunners be selling the $75m at? Lower to make a quick buck or try to push it higher- hopefully they already have buyers lined up so the price doesn’t crash.
Unusual big drop on no news at all, this has been tracking nicely up until yesterday. Frustratingly my dividend was auto invested at 380p! Still looking good long term in my opinion.
Completely agree- accelerate the buy back, get a load of shares at a cheaper price and give the seller a decent buy out without the SP naturally dipping. But all that will happen now is the daily buy backs will be cheaper if the SP does dip, meaning it’s better generally, more shares get bought for the $100m they have allocated.
I would be happy with a takeover assuming it’s a good premium to the current share price. Any takeover talk is always positive.
On their latest presentation they say they required $443m, $346m has been secured with Debt, they have $22m cash on the balance sheet from the last offtake, so interesting to see if they secure a similar offtake agreement to the first Orion one, the equity raise requirement gets much smaller. Obviously depends if they decide they want to raise more than planned though, hopefully they do what they need now, then if required raise more off a higher share price in a few years now this is de risked.
3.5% div yield I meant to say…