Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I wondered same Magnum and put it down to an LSE listing having more robust reporting requirements already in place. But now I look at the dates - 29th Dec to 13th Jan - there can't be that many companies apply for the OTCQB over New Year versus now.
I joined the AGM zoom and there were numerous questions around financing which TB refused to be drawn on. I don't think that's surprising. Its either insider information right now or else they can't rule anything out yet. Personally I am not concerned so much about the financing as I think TB will go for the best option possible and has a great track record. I am more concerned that they make progress and it sounds like that is happening.
BlackX, aha, I see. I'd agree that a fair comparison is saying 80p + post OTC. Bring it on!
BlackX - where did you look for the Currency works MC? I just had a look see on Yahoo and found them at 65m USD / 45m GBP, which is over double VLRM's 19M. I think when they peaked out their market cap would have been around 130M GBP (6.5 times where VLRM is now). Someone tell me I'm wrong as I'm already carried away by the excitement ; )
Dom I had the same thought. I bet they are smiling now.
Gobsmacked. I invested here as a punt, but this is massive.
Wondergoals, thank-you for emailing IR. I had to leave the chat because I was busy with sick kids. Honestly, no-one should be having to email IR about this point because relative to other company behaviours on AIM, OO is one of the most reputable. But its great you did. I am holding and recently bought, so a few pence underwater on my average - but still very glad to be invested. I think it will be a little while before we hear, I expect a tremendous amount of work is involved. GLA.
Si - Oh yes, I see, thanks. TBH I am not following it that closely as most because I am not worried.
In any case Jimzi has done a great job explaining it and I stand by the fact that OO can't be a PSC - that makes no sense at all. I'm out from here, its taking too much of my evening chewing the fat over something that I am no expert on, but also can't see as being a problem.
Alright, let's suppose IR won't respond. My observations would be:
Everyone here should be doing their own research and investing what they are comfortable with. You need to do some research about company structure Padrock, since its clearly bothering you.
Next, from a layman's view - for a Ltd Co there is a connection between shareholders and PSC that I don't fully understand. I can't see 5 owners of Orpha Pharma Ltd, Padrock, I can only see 2 shareholders on the Articles of Association - OO and CF. One director would be a minimum requirement of any ltd co, which OO can't be. So CF had to be. Those shareholders then became joint PSCs automatically ( I think ). How could it be practical to keep OO as a PSC? The activities for the spin outs must be making anyone who touches them an insider. OO can't make decisions or be an insider as its a collective of ever changing shareholders.
I would also observe that if an AIM BOD wanted to exploit assets at the expense of shareholders, there are probably simpler ways to do so. I feel confident its not happening here.
Padrock - I agree with Si, I think you should email Investor relations and ask them to explain the company structure to you if you're worried. I am working on the basis OO can't be the PSC, the BOD have to be to carry out the work.
Scottman72 - I was under the impression there won't be an OTC id until the OTC advise VLRM that their application is approved. I don't see an OTC ticker for MODE or NFT Investments, who applied at the same time as VRLM, which suggests we're on the long end of the 4-8 week process, same as every other company. But your comment suggests there is more to it, so could you expand please on what you mean by 'there's an awful long way to go yet'. If the application by the sponsor is submitted and was done so by a known sponsor with experience of the process, what are the hurdles that you're anticipating?
Also, no idea how this is a puzzler, when an answer was given by Russky this morning that addresses the same angle of question about ownership and IP.
'I think this is nothing more than house keeping & OO who are spinning out to new Co can't have significant control at the transfer date. As a Ltd Co there always has to be a person/entity with significant control. I know of a client who who did something similar (but not listed) & used an employee as a "PSC" & initial director on formation until the transaction was expedited & then the PSC was updated. This is just domino shuffling to ensure no conflict as to transaction process when its expedited.'
The most likely meaning is that OO is in the planning stages for the spins outs and that, with the guidance of lawyers, they are putting the various dormant companies in place to enable the spin offs to be progressed, with underpinning legal docs to prepare for the transition of assets and IP.
PadRock it doesn't fill me with confidence either, but could it be that the effective date of the first spin out is today and an RNS will drop tomorrow? Logic would indicate OO could not be a person / agent of significant control once the spin out is legally effective and so would have to be removed at effective date. I am not stating this as fact, I've not been following the legal entity changes closely so no idea if Orph Pharma would be the first new co. I'd just rather look for a reasonable explanation rather than an unreasonable one.
Frankfurt closed out the day 33% up with a sp of EUR 28, which is around 24p. Are the volumes on that exchange as low as the US or can we expect it to impact UK sp?
I think its possible the Zak Mir interview took place before the RNS came out saying drilling would commence in early June. It might still be end of May, the rate they are working, but it was scheduled for early June.
ARB is on its way back up.
Not sure its related to VLRM directly. More inflation woes / FTSE down this morning.
If you google 'how long does it take to list on OTCQB' then various answers give 4 weeks from when the sponsor submits their documents and some answers give a range of 4-8 weeks. The fact that neither MODE nor NFT Investments have received their listing yet, but submitted at the same time (around 19th April) suggests VLRM / MODE / NFT Inv applications are now spilling into the slightly longer range. But it could be any day from now. Remember that OTCQB application processing timelines are not governed by VLRM but by OTCQB. The reason others here have been posting speculating on whether 'its' this week' from week 2 is because ARB got their listing after 2 week. I've investigated what has to be in place to achieve an OTCQB listing and the bar is low, so imo its more likely to be a volume driven delay at OTCQB rather than anything else.
As usual DYOR.
GLA.