Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
Not the worst shout but at the same time; we are months (if not weeks) away from a placing should the GMSB not sort out followed by rapid offtake agreements. That's a lot to happen before the money runs out. Could be sooner rather than later but Frayne has decided that noone needs to know anything anymore so it's a complete guess as to how things are progressing!
Yes; registration is taking a while to come through! I have to admit I was originally going to cash in but will hold now; some great noise being made around PBX. Hope people annoyed with OPTI don't cash out; that said if PBX is doing well and OPTI owns so much of it; seems not worthwhile to do that.
If this is genuinely 21.5 to sell then I'm pretty happy! Was expecting a bit of a kick downwards first thing as the shares came online although I think it'd be silly to sell now with some really promising news coming out! Looks like this is one section of the OPTI/SBTX bundle that is actually doing really well.
Nice healthy spread and still no comms from Frayne.
Has anyone reached out to Burton to see if he wants to try and get a poke off him or does he only do that when he is taking PR money before a placing....
Have messaged someone I know at HL; assume it's feeding through. I was expecting an RNS saying admission of shares etc but that might not happen until market is registered/made at the close today.
Nothing changed yet; it's unlikely to. Huge spread so expect zero activity!
Had mine ready on HL all year just no price attributed. Expect that to change tomorrow. Not hoping for much but would be nice to see the SP not crater with a mass exodus. Liquidity will still be fairly low in most likelihood and would expect the company to be doing some PR. Might even get interest from OPTI/SBTX holders given how poor that's been and PBX is allegedly doing so well!
Assume admission and trading begins for these on Tuesday? Hoping for some PR at the same time; sounds like sales have been very good in H2 so far!?
Well fingers crossed for some decent results and news around then. Happy Christmas.
Interesting around PBX (just posted over there); it seems to be the one part of the business that is working well. Be interesting when the shares get fully admitted in January (not sure what date that is btw). If some promising news then maybe those shares will go on a bit of a run? Or will it collapse as irritated OPTI holders cash in their chips over there.
Interesting; when is the admission date for the shares? Will there be a rush for the door or a rush to buy? Potentially might get people who know about PBX due to SBTX/OPTI but are fed up of lack of delivery and this becomes the better bet?
Unfortunately this is classic AIM and LSE. When you make noise about the share and management due to poor comms etc; you get shot down and told you're not supporting the share or worse; a shorter. Then share then collapses with zero engagement despite a lot of people's best efforts to get some diligence on the management to respond. Then you're told off for being annoyed post collapse that you're somehow rubbing it in.
Yes we can definitely agree on that. Not exactly making this investable if times get better given his current nature of PR! That spade video still equally amuses/angers me.
Haha; yeah ok i'll give you that; a very optimistic view but none the less; one I didn't consider.
LOL; I understand it but do you? The ability to raise cash has just been seriously curtailed leaving a very poor bucket shop and CLO provider in it's place. A need for cash is a certainty without offtake. Offtake is a fantasy with current problems. To resolve current problems will need legals which are again very expensive. This is all whilst incurring PLC costs; staff costs which even optimistically over $100k a month (I've deducted one-off costs for exploration etc) and this also assumes no further testing/exploration whilst they sort out issues.
This means zero cash in Q1 2023 at some point. Given the auditors will demand a semi healthy level to sign off the accounts as a going concern; this means a placing (or offtake) in the next 4 to 8 weeks (12 at a push). That is a simple fact based on the numbers using very optimistic rates. A real pessimist would say that losing WH Ireland and having a hideous cash burn with legal fees suggests death spiral funding is imminent as is the case in many AIM stocks. It's not really a shock Frayne isn't going near a microphone atm.
True but it's not the one you want. Assume dropping WH Ireland is a cost saving exercise; not paying for research notes etc. The PR side is being dropped due to the costs I imagine; it's not a good thing. That said; those research notes did absolutely nothing for the SP whatsoever so will it be missed!?
Tavira is a proper bucket shop I'm afraid; it's not good news at all in that regard. Imagine CLO or some sort of financing coming if they can't get a placing away (also a dead cert at this stage now).
Cash burn was 963,754 dollars in 6 months with roughly half that on "exploration and evaluation costs". Leaves roughly $480k at current burn rate for end of Dec. PLC costs etc will dwindle that further so will see a need for a placing pretty sharpish in Q1 in lieu of any funding via offtake. This is before any legal costs; retainers for a decent firm will be $100k min before they even speak to anyone. The cash position is awful for a PLC with that many staff. Frayne is not just avoiding publicity given the change of broker/IML issues etc so don't expect any response (if even meaningful). He's not even bother with Burton who got very uppity when he was rightly accused of helping a placing (which potentially unknowingly) he did.
The wheels are falling off this at a terrifying pace.
No, not disinvested, no real point. Written off though.
As for the Asian companies comment; it doesn't really matter. Noone will invest hard cash when there's now risks that on any given day; the government can remove licences at a whim. That makes it uninvestable for offtakers even if the licences were reinstated fairly quickly. I think in a best scenario situation; this will be resolved in a few months which will be very costly and still mean CMET running out of money even without the legal spend.
Throw in the strong possibility that there are politics involved; the entire IMLs/EIAs awarded might get thrown out and restarted. That would be curtains without another fund raise/restarting a new company. Addressing the point that we are all aligned with Frayne, I agree this was one of the reasons I liked this company at the start however if it fails; the equity Frayne has will not really matter as he has taken a salary the entire time. It'll continue to pay him right until the shares are cancelled off AIM and the money runs out. This is classic AIM. We all thought this was different and tbf it probably was given they were striving to actually get product out of the ground however standard AIM CEO and being economical with the truth come to bear again unfortunately.
Wait and see what happens, might be a rescue play once it gets bombed out with placing etc and then a bagger from all time lows if they actually got started again. One for the watchlist over next few years if it survives.
"The board is very much aligned with shareholders to avoid dilution"
Impossible to avoid placings; the money is running out, it's pure mathematics. Now involving legal fees to burn that cash even quicker. Offtakers are nowhere; they won't go near this now or even later imo; until there is product coming out of the ground; they can't run the risk that their licenses might be revoked based on who is in charge at the top and politics. It's uninvestable for offtakers I'm afraid.
I have to laugh; it's a disgrace now. 48 hours have passed and Frayne hasn't even bothered to reassure shareholders after utterly disastrous news. Even if they do turn this around at some point in the next few years; it's no longer investable due to his awful comms. Its another POS AIM share that post placings may double/triple but purely on hype and nothing else; its no longer a sensible investment.