Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Whole lot definitely sold for $5m. Message is to sit tight for the feasibility, that they want to be producing in 2019. Once feasibility is done they can put it to II players. There is a glimmer of hope IMO this can be pulled off, value returned. Cash is at market cap practically which means Quincha given no value, this is mad. Confidence is obviously very, very low. Not without reason. Little Black Duck made an excellent point on HC about that there is no future royalties written into the Los C sale, should it actually go to prodiction. Wish I had asked that on the call.
Has anyone got any news on this. So difficult to get info at the moment. The AGM confirmed "completion of the agreement to acquire a strategic 21% equity stake in Advanced Agricultural Holdings But we have no news on "the proposed acquisition by the Company of Onshore Energy Limited"
Email addresses will get removed. What I did was email the investor address on the GOS website. He replied and then we had a call last week. It was quite positive and it sounds like Stanhill, as large shareholders, are holding the GOS directors to account. They get regular updates. Things are progressing nicely, the client base is strong and valuable, which could make the business a target. (IMO I think the medium term plan would be to sell up). If some new wins are converted then the business will really start doing well. He could not give me an update on encryption keys. That was my take. DYOR, IMO, GLA.
No response as yet.
We are now down to one horse running, Mira. She is looking like she can win with a great run (feasibility study) and we now have better quality sponsors (II's), let's just hope our jockey doesn't mess it up before the end of Q3 and fall off. Poor old Calatos was a no start and has been sent to the glue factory. Molly lost a leg and is proably going to be shot.
Anyone care to share their targets for this?
The more I think about the lower it seems. If you think about what was spend on it alone, never mind the NPV. We gave away 51% for 16m which we will never see and had no info on what it was even used, for then we sold the 49% for peanuts. Unbelievable. It has been so hyped up over the years. And they were pleased to announce that.
Anyone go and can share anything?
Strange that is happened this morning before the meeting at 12:00. This company is about as transparent as a brick.
Positives -don't have to raise to pay 1.2m mira tranche this month which is delayed till 5m comes in -no short term dilution now -redfeild increasing holding in the market, they are in the know more so -feasibility due next quarter Negatives -how the heck can 51% be valued at 16m and now 49% only 5m. I think they were under duress due to the 20 June payment. 10m would have been far too little. 5m is a joke. -no distribution of anything to us.
This is dire. I have written again saying that the directors need to do an interview with proactive investors or vox markets. Over 50% drop since consolidation. I still believe in the strategy ultimately, but the media relations are very poor at present.
Interesting, on conversion they have to make an offer. No waiver written in. Could the Chinese want SLM that bad they are just going to swallow us up in one go?
AGM 16th June. Hopefully we should get clarity on how the RTO will work, this will provide the working capital as the other entity is funded. I do expected more dilution to achieve this but at least we will be a going concern!
Yesterday, I'm with HSBC. Your right, converting the offer and even before that the rights issue price is painful. We certainly haven't been rewarded, yet, for supporting our company.
Final resolution not supported, lanstead & redfeild must have said no. Maybe the difference of II's on board, they won't stand for the dilution. Interesting they didn't report the split. Ps. Did anyone else get a broker letter saying metminco spin off, details to follow?
Yes they should be making full use of the current environment to champion their products. If only we had these new encryption keys ready, the timing would be perfect. Very difficult to say how we are getting on in the background, going by the scraps people have reported I would say medium/well.
Chase them up, I have had mine
Did you all get your AGM letter and voting cards?
Thanks for sharing chalky. That's my worry exactly, the secondary market, don't want illiquid shares. If CD caps pre-feasibility is very positive, it would be great if they just made us an offer for the 30% and paid the cash. We could then all get a special div or similar.
I know what you mean. Be ace if CD just bought us out and they paid us a cash div. This listing idea is going to be what is complex.