Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The rate at which these guys are working not as long as long as some think, sorry can't be more specific. Watch Aussie gold hunters and see how long it takes them to dig out a pit and setup a plant, not long. The question we should be asking is how much cash a small scale operation would generate?
I think you are getting closer to the truth CC, was there a bust up between Burt and Ngai? Ngai resigns and INL decide to pull the plug because they no longer have a representative. There was no buy order though, there was a large sell order on the day of the funding RNS because I watched Marex walk the price down so someone was aware of the redemption.
So if it's all rosey in Garden and they only need £500-750k to B/E why have INL suddenly pulled the trigger, a bust up with Burt or a case of take out the prey whilst it's injured. There could be plenty of twists and turns here, we know there are still in discussions with lenders and has someone has rightly said, this could be Burt holding a gun to his own head.
Perfectly put MM. What happens next all depends if Burt is involved with pulling the rug. I've always had the impression that Burt had regrets about being listed, interestingly this question was asked in the last interview so clearly I wasn't on my own. If Burt is involved (I think he is) then they will let this fall into admin and we know the rest. However if this is a INL trying to kill the prey whilst it's injured then Burt will obviously want to put up a fight, you aren't going to simply hand over your baby. Can Burt find the money? There's no coincidences here, the Director leaving and that funding RNS from Thursday.
In the interview only a month ago Burt made a statement that the Chinese were supportive. The timing of the RNS yesterday was no coincidence, a strange RNS to release if you ask me. We know the company were in discussions to raise funds so why release a "nothing" RNS. What's done is done but you can't help but feel this is a big stitch up with Bert involved, I have good friends with significant holdings and it makes me sick to the stomach to think this has been set up by the company. What are the assets worth? Hopefully some funds get distributed to shareholders.
The whole thing stinks. The fact that this dropped yesterday suggests insiders knew, Burt covered himself by releasing the funding RNS. He never wanted this on AIM, the last interview gave that away. Why pull the trigger now, a day after the company announced they're still in talks over funding.
Forward selling is my guess, the RNS yesterday was pretty much stating that a book build was underway. IF they can pull off a placing then it gives them a good chance. Hit B/E and this could turn into a little gem. For clarity, M007 has been taking this stock down for months and would to see it go to the wall.
I can't disagree with that, the fact the company is now back to running on fumes having known it would run out of cash in April is negligent. They seem to be announcing a new venue nearly everyday on Twitter so they are making inroads.
i don't think it will go into admin, there was somebody prepared to back the company only 3 months ago at 1.1p. from looking at the price action i do think the next lot of funding will be circa 0.25. the number of shares in issue are still relatively low which is the only positive. the question will be then how quickly burt ****es the money up the wall.
We all knew this was coming but the question is, will Burt knock the final nail in the coffin. I can't imagine lenders are lining up to fund the company so he'll need to get creative. This could be a half decent business with somebody else at the helm.
I see the 14% drop has brought the parasites out. Finally had the balls to make an appearance ART after making false acquisitions.
Nailed it there TS. I'm pretty sure it was the interview with the Moneysponge where Mike talked about the other work that was ongoing (sampling) whilst wating for the KH results. I'll have to listen again but other news may not be that far away.
I did wonder when you would pop up Peter, you've been my calling card for many years. I buy when you say sell.