Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Yeah exactly PFG. Obviously BS at the AGM. Offtakers won't want to go anywhere near a company that can lose it's licences overnight like this. It's uninvestable for them and Frayne would have known this for ages by now as the noises he made about offtake are embarassing. Obviously he didn't want to say anything as it would have cratered the SP. This has now forced the hand. Might be an opportunity once this is diluted to hell and potentially stuff is sorted out; might get those mad little bounces that happen on stocks like that. As a decent investment; it's over. Into the bin with the other AIM POS stocks. I thought this one was different but it's exactly the same it appears.
With an optimistic hat on; this is potentially the case and its come out of the blue. Still awful news but more palatable.
With my pessimistic hat on. If they didn't see this coming then they aren't well connected which is just as bad. They were over there a few weeks ago (with a spade) and this just looks awful. Frayne has said for the best part of a year that offtake was imminent; even laughed when asked about the interest on the podcasts; can't wait to sign, desperate to give us money etc.
Reality is that he has done this before; tried to pump before the last placing and the comms are so laughable now that the company is inevitably going to run out of money and the placing will now be at an insane price. Is this a moment to buy in post placing; possibly but I can't do it; Frayne is untrustworthy and I don't believe any serious offtaker will get involved in a jurisdiction that can flip on a coin on legal matters. It's not going to be investable for the serious money therefore won't be a good future for us. Another AIM flop it appears.
Frayne is uninvestable. They've known for a while imo. It's a shame but of course this means a placing at some point. Revenue is nowhere and offtakers aren't going near this risk. He's essentially been either lying or ignoring the problem. A real shame as this was a good opportunity.
2 more big buys?!
News is due next week or soon after; hopefully see a strong rise into Christmas.
That's the issue isn't it. Time ticks away, money runs out, credibility runs out and the rises aren't good for existing holders due to placings. Its AIM 101. This needs to land soon otherwise its a placing, its pretty simple.
Yes but being gently polite; if you want to see every statement from Frayne in a positive light then you would do?
It's an awful tweet/post; it's very ambiguous and you're wrong about him not being able to update the market about future contracts. He could quite easily say that he's heading to Singapore to advance the final stages of contract discussions. This just looks like he is out there to find offtakers. My honest opinion is that we probably did have offtaker interest over a year ago but now post the IMF issues etc; investors just aren't interested in the risk. The timelines are clearly wrong about finance/offtakers even post covid; digging a hole in the ground with a spade then going to Singapore with out releasing any RNS's from Singapore is not going to build investor confidence. I can't blame people for selling out!
Absolutely; if it's been dredged and fishermen/cargo is able to get in and out there again; showing the port operational would be a huge positive.
Gone a bit quiet again! The flurry from last couple of weeks has gone; hopefully some news from South Korea shortly after they conclude their trip out there..
Yes an utterly bizzare LinkedIn post. To go from nothing to that is weird.
Either it's a very sly signal to the market with spade etc or it's an utterly desperate move as literally no news to RNS. Can't work it out tbh. If no news in next few weeks; there will be a raise; the maths is pretty certain on that fact unfortunately.
Are these big buys coming through still from last Monday? Someone has picked up a colossal amount of shares at around 1.8p?
Mol - I was more hoping for some growth before Jan and potentially post. Hope to hear something; maybe this will start being more active when the market becomes active in Jan? Stab in the dark as to value atm!
Hi,
Do we know whether these shares are actually worth 19p a pop in January? Will the SP collapse when everyone tries to exit? Or will people be dying to buy these!? I got a load of these from OPTI spin off and not sure whether they are worth zero or something!
Main difference is Frayne pulls a salary; we don't.
It's always the same on AIM as if criticism isn't allowed; that people aren't patient. There's a lot of fully invested people here who are holding big losses who need a multi-bag to get themselves back to break-even. That is purely down to timeframes being put out that are not even close to being correct then frankly pump like language before (which failed to pump anything).
The comms are awful; cash burn is real and unless something changes dramatically; it'll continue this way until we hear otherwise. Pretending that it's a great opportunity because you ignore the genuine problems here is not sensible. The theory is sound here but whether it can be believed given the now insane delays/lack of updates is a genuine concern. The world is a different place to 2 years ago; offtake might not be as solid as we thought (again no idea either way due to shocking comms!)
Not promoting it or anything but check out BMV and their twitter feed.
Literally a world apart in terms of CMET. Showing on the ground visits; price of gold, talking about site visits and meeting lawyers in the country (with photos) to engage shareholders. Really is a different world.
Let's be blunt; Frayne has overcooked this.
Whilst it's a great opportunity in theory; without PR then it's a waste of time. The disdain for shareholders after this year is beyond contempt. The way Frayne was talking about offtakers this year and post IML is just galling. IF there is no financing before Christmas; there will be a placing as cash burn is inevitable. That said; cash burn is obviously not as bad as originally envisaged as they haven't actually done much; the IML isn't the big thing it was thought as access to the land isn't sorted yet. The assumption is loads has been done since the IML but at the same time; seems like they've done absolutely nothing as they won't say anything. That sort of communication will not build a share price. The next reaction from holders is "put in the bottom drawer" but that's not an acceptable strategy if they dilute the hell out of us due to poor comms!
Equity placings are why a company like this is on AIM. It's the #1 reason if not the only reason.
It's simple; if there is no offtake in time then equity raising is the only option as they run out of cash. They will run out of cash at some point; my estimate is Dec/Jan but it's impossible to tell with so little facts on what they are up to/spending.
It's almost a certainty there will be some form of equity dilution with the offtake however if it bears value to get something done then it's not a huge concern. The usual issue with these sort of companies are delays where the original early backers get diluted to hell then the last minute entries as things start moving do the best. I can't see a huge dilution coming back to say there won't be an equity raise when there's money being spent still with zero income seems a little optimistic to me.
Can you pass that message onto Frayne please......
That's actually a valid point the USD side of things. Didn't consider that.
Depending on where the money is raised; it could make the offtake cheaper or more expensive but the product is more valuable!
Unfortunately no longer have a Bloomberg terminal so access to commodity prices isn't as easy; I assume prices remain high though!
Its classic AIM.
The shareholders like us just aren't important and get pumped for cash. We then get told we're not patient enough (despite most being here for years). The SP gets diluted down and then we refuse to acknowledge it and still think its a great opportunity. The bulletin boards are a cess pit of this.
Hopefully we arent in the latter stage of the above, the caveat is that there is definitely a resource to extract, timeframes however are opaque to say the least. Frayne has definitely misled a little with his enthusiasm around offtake etc. Hopefully resolved by end of the year.
Hope whoever bought £1 worth got the price they wanted..