Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
22:23
Exactly. The only deal that should be considered now is Align. Preserving value for shareholders and financing future growth. If Grosvenor comes good afterwards, then all the better.
The current placing by GC and ME is to dilute as much as they can Align and other shareholders so that they cannot be ousted. The deal is bad for shareholders and only good for GC and ME as well as the brokers and new people coming on board.
We must vote against all the resolutions and get the 1p deal with Align after ousting GC and ME.That will bring the sp to 1p with 1.8b shares.
Not going back to 1p anytime soon if this placing go through because:
- placing is at 0.3p instead of 1p
- will issue 1.7b new shares instead of 566m new shares.
- will have 3b shares at 0.3p instead of 1.8b shares at 1p
- market cap will be £9m with 3b shares instead of £18m with 1.8b shares
In other words, this placing will rise the sp to max 0.6p to give the same MC of £18m if grosvenor had came up with the money.
Conculsion, this placing is destroying shareholders' value and shareholders MUST vote against all resolutions.
Because the placing at £0.01 will only happen once the 2 mischievious directors are ousted, which is about 3 months away, unless they step down once the placing fails. In the meantime, you could benefit from investing elsewhere.
8:53
A much higher placing at £0.01 could have been done instead of £0.003 for the same amount of monies. The problem is that the directors didn’t want to lose their position so they rejected the £0.01 offer to accept the £0.003 offer which will dilute enough the shareholders to keep their position while getting the same amount of monies.
Voting against all the resolutions is the only way to get the placing at £0.01 and oust the directors who are looking after themselves.
11:14
They don’t get the finance yet and there is 50% chance the placing at £0.003 will be rejected by the shareholders. The good news if that happens is that another offer at £0.01 will be made.
So if you are a shareholders you MUST vote against all the resolution of the next GM.
13:42
Hi, I would hold the shares, (and hold any purchase and any sale at the moment).
There is already a block of more than 10% of shareholders voting (agreeing to) against all the resolutions of the new placing.
There is still about 2 weeks to build up more shareholders resistance to vote against all the resolutions. When the placing fails, 2 directors of the boards will be ousted and replaced by directors who will look after the interest of the majority shareholders.
A new placing offer at £0.01 per share will be presented to the shareholders for a total of £5m capital raise. This is about 560m new shares instead of the 1.7m shares the current board of directors want to issue for £5m.
They want to dilute the current shareholders 3 times more than necessary to raise the same monies because they don’t want to be ousted.
This placing is not in the interest of the majority of shareholders but only in the interest of the directors.
There is already at least 2 other offer for at placing at £0.01 per share. One is with Grovenor, which has already been voted for by the shareholders.
All shareholders must vote against all the resolution if they want to get a better deal and see a placing at £0.01 go through instead of £0.03.
We are still fully funded for this drill. The new funds would allow to purchase some well in Texas if that goes ahead and finance the need for Alaskan for another year if there is no farm out. This is very positive and giving a strong hand to 88E for future negotiations.
8:42 that is exactly what I was thinking reading the RNS. It’s only £15m out of £400 MC a couple of days ago. Still plenty of profits to be done buying at this level. Overall, it doesn’t change much to my target of £800m MC.
17:52. It’s not a pump and dump. In Feb/Marc is the period when the drilling for new wells is. So it’s normal to get investors and traders to come in right now. Some will hope for a good result and will wait for the RNS some will take their profits before the results. I will take my profits before the result. I’m expecting the MC to be between £700m and £800m before the result of the well. Possibly up to £900m-£1b but that would be very speculative. Anyway I will sell when over 5p.
I top up on Monday. My average profit is 52% currently.
Last year I bought 2 batches. One sold one over 700% and the other one 350%. This year I bought 3 batches the SP started higher but I’m still hoping to get 200% on the first 2 batches and 100% on yesterday batch.
15:45
I guess you didn't even bothered to read the RNS - stating more than $30M in cash with no debts - fully funded for the drill and appraisal. Either your are uninformed or want to misinform people. I guess the later as you want to push the SP lower to get in. You miss the boat it seems. Still worth to buy at this price as it will easily go above 4p before result of the drill.
PS: There won't be any funding needed until well after the drill is completed.
18:23
I guess you didn't even bothered to read the RNS - stating more than $30M in cash with no debts - fully funded for the drill and appraisal. Either your are uninformed or want to misinform people.
There won't be any funding needed until well after the drill is completed.