Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Someone is getting out looking at those huge sells. Expect we'll see a holding RNS shortly
Thanks Fevertreeman - the last part would also seriously concern me if I was a client. The trust is lost, and you cannot rely on SCE to deliver.............so it doesn't get the relationship off on the right foot if you can't deliver what you initially promise. Credibility is lost and becomes very hard to regain. I will hold off for the foreseeable until there are tangible improvements visible. I expect it will tread water for the next 12 months
Makes you wonder why Scobie Dickinson Ward was increasing their holding in recent months...............surely they would have knowledge of this?
The bigger concern is the impact on 2024 and whether we will need to raise additional capital.
In addition, regulatory delays in India and a number of other countries have resulted in delays to some product launches; whilst this is expected to have a limited impact on the Company in FY23, this is likely to affect performance more materially in FY24.
Revenue in FY24 is now anticipated to be approximately 28% lower than market expectations of $23m, due to lower levels of inventory being maintained by the Company's distributors and regulatory delays in some territories. The Board intends to review operating expenses accordingly.
Very disappointing to read............I know the targets were ambitious but the SP decimation is painful and a grey cloud will hang over until they clarify the impact on future cash position. Raising funds at this level would be a disaster
I work for a company who are active in a lot of hydrogen projects at a distance. Almost all have suffered from significant delays, often due to government policy which is not particularly supportive. They offer piecemeal support and expect the private sector to do all the legwork. This is fine in principle but for a fledgling sector such as hydrogen which requires collaborative joined up support from multiple sectors (producers, infrastructure providers, OEMs, offtakers and government regulation) it needs more than piecemeal support to appeal to investors to build a business case. At the moment there's so much uncertainty, and even more so when the Tories are going to get booted at the next election, so projects are inevitably getting delayed as investors wait and see what the policy landscape will look like.
I am so far underwater here, it is not funny. And I certainly no longer hold the same belief as I did previously. But if the stars align then I could still see a return. First thing needed is to sell the Leeds building to allay short turn funding issues
Worth noting that there are £6.1m worth of warrants outstanding at an average of 22.5p. I struggle to understand why people are not converting these, because it's an instant gain at current SP if they wished to flip them. The conversion of warrants would certainly address funding concerns in the short term
Nice to get some well reasoned and informed discussion on this bb, all too rare on LSE. Volmer raises some very pertinent points, albeit focuses predominately on the red flags as opposed to the potential for the company to overcome them through growth/partnerships. I am probably where Jimzi is, and think we could well see a beauty parade for financing. I expect there will be plenty of avenues ONDO will be exploring for this, and pushing out the current debt arrangement is really just a placeholder, until they get alternative arrangements in place.
Tomorrow's call will be interesting, and I will probe on this topic (as i'm sure others will)
Agree with your summary David. ETX is another share I hold, which follows a very similar SP path to C4XD. Both in similar markets and the trend is there for all to see, despite both holding really good prospects
Thanks for sharing the stockbox jabberba. Where did you get the 40% figure from?
I've only heard 10% penetration mentioned, giving an expectation of $30m p/a.
I got the sense from the report and interview that things are taking longer than expected to materialise, however the outlook is unchanged and still very positive
You could be right latics, Halifax set a hard deadline of mid November due to the intricacies involved……….however they have synchronised my account almost instantly following this deadline.
However, with the SP currently 3p higher than the warrants, I’m not sure why you wouldn’t take them up. I’m holding mine, brings my average down to just over 19p
So I received a msg from my broker Halifax that I needed to confirm the warrants by mid November if they were to execute on my behalf. I chose to and they have today been converted in my account.
Always found Halifax to be a very good broker in my 15 years with them
Some significant volume going through today and a sharp upturn in the SP. Really positive to see this momentum returning after the lull. You'd expect all those outstanding warrants to be getting executed now we're reaching these levels
The interims were disappointing and the volume of contract wins has tapered off - perhaps hype was not the correct word but the positive euphoria and momentum they had has dissipated
That's the site I use..............you'll note it doesn't track shorts that have gone under 0.5% as I said. And AHL and Marshall Wace Asia both went to below 0.5% so aren't included in that 1.85%. They may still hold at 0.49% though, so the shorts could be as high as 2.83%
As predicted, shorts are closing their positions further:
Marshall Wace reduced their short by a further 0.11% yesterday
Marshall Wace Asia reduced their short by 0.10% yesterday
AHL Partners and Marshall Wace Asia's shorts are now below 0.50%. How much is unsure because the short tracker website doesn't track when below 0.5%.
So shorts are now somewhere between 1.85% and 2.83%
SP has been decimated in recent weeks/months. This appears very unloved atm. All the hype has dissipated