Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Friday's RNS said over 15m warrants have already been subscribed. With some of the larger PI shareholders likely behaving like IIs, and only a bit over 19m warrants available in total to PIs, it tells us the take up from smaller PIs has been high, probably very high.
The IIs move this month, along with many larger PIs. Looking good at this stage for the professionals to subscribe in the normal way. Have to bear in mind that as the warrants are untraded IIs will, sane as PIs, have to find the cash first. They have no tradable rights to sell. for any that would want to.
For now at least, the warrants are looking like a very successful exercise. Useful liquidity. Great support from PIs.
Even the second most biased negative poster now says "I agree on paper this looks an amazing investment ".
Thing is that with you and your mates drowning the board no-one just passing through here would know what the amazing invesent case is that you're referring to.
Please elaborate as no one else is hiding anything here.
Translation posted on here earlier of Navitas' Q3 comments on Sea Lion are same as I get. More exciting each time a quarter elapses and their '24 FID target just remains unchanged even though we're getting close.
Yes 99, we're automatically near the end of PI selling to fund warrant exercising and at this stage rkh's brokers will canvas institutions as to whether they are buyers or sellers for any warrant shares at something over 9p. IIs would know the "rump" placing is coming and expect to be canvassed. On this basis all II warrants would be exercised with any shares shares not wanted at this stage placed. The only unexercised warrants would be some absent/neglectful PIs. Personal view but given the big payback numbers on the development of the first 250m barrels that are the subject of Navitas' target '24 fid, there are going to be few buyers when the brokers canvasThere might be another 750m barrels to come eventually.