So what are the options now and why are Align still holding?
If it gets delisted will all the large share holders lose everything as well?
And the second meeting is to vote for the board to stay or go?
Hi David
Sorry can you explain how you vote my shares are in a HL sipp account.
Thanks
Clem
So What happens when the loans run out which I presume is anytime now is there a chance it will be delisted
Clem
On reflection we have wasted 6 months waiting for these clowns who obviously havent got the money when we could of been looking for a better deal cant beleive the management never
asked for proof of finance.
Clem
whats the point of letting the investors sign a deal with no finance in place absolute fiasco
Its beyond me how the company cant just go to a bank and borrow the money its self .
8 million against an asset like that and with the way commodities are at the moment and only going to get more scarce going forward I find it quite bizzare how raising finance is an issue.
Im obviously missing something or there is something we dont know about
Best
Clem
Correct they have and if you go on ALign site they have a 28 page doc about the company .
Align also worked/ invested in Rare earth (martin Eales) so taking all this into account Align
purchasing more shares has got to be seen as a positive in this slow journey to funding and ultimately production.
Then clock is ticking!
Best
Clem
So just to clarify directors are taking share lieu of fees owed at at 1.48p and and cant sell for 12 months.
Then on the 15.12th the placing of 300mil shares will come onto the market at 0.30p thats the way it reads to me can anyone comfirm this is correct.
TIA
Clem
18 mnths old that article and before Martin was taken on so who knows.
With a MC of 2 million I cant understand if they did try and sell it there must be a problem
or they wanted to much for it and here we are again I just hope Fort is right about Martin.
Clem
So Martin has now got 12 months to get the job done.
Hopefully post covid and the deposit remains the same
Stick or twist
Not for the faint hearted this one
Best
Clem
Exactly so 6 weeks until no money and if no buyer it will get taken private and its game over for the share holders
If you look back they have had that foot note for a while its not been updated not looking good here in my opinion.
yes they have probably got 3 months cash left at best and any interested buyer will be aware of this not looking good if im honest lets hope they can raise again so they are not backed into a corner they should of put it up for sale 12 months ago
Clem
18 Jan 2019 - Rio Tinto's diamond production for the year fell by 15% to 18.4 million carats from 21.6 million carats in 2017, as production at the Argyle mine ...
So thats how much will be getting taken out of the market im not sure what percentage of global production is but FDI are hoping this coupled with some good size fancy stones will get everyone out the S'''t.
Fingers Crossed
Clem
Yes it states very clearly on the website how much ore etc they have and with the price of the stuff at an all time high and expected to go higher it remains to be seen what and why nothing happened surely the company must be on someones radar.
Clem
Yes me I`m finished now just gotta sit and wait.
Clem
I have been here since 2015 and have seen deadlines come and go tbh so as long as we get positive news by the end of the summer I will be happy..
The main thing for me in the last Rns is that the tests are concluded and they have entered into negotiations .
They off take company wouldnt be negotiating if the product was not up to scratch and they could get into trouble for saying they are in negotiations if they werent so its a good RNS but dont hold your breath it could take a lot longer than you think and dont rule out a cash call as well for me personally im buying on the dips playing the long game fingers crossed.
Clem
Or as Jaseem thinks maybe they are just going to sell the Sight on.
With <a MCap of 170million what pe does that put it on if correct .
Best
Mark