Member Info for deepjoy

I think a lot on here are failing to consider the broader macro issues affecting miners. Gold prices are under pressure as treasury bond yeilds rise and bonds spiked up a lot this morning. This has been happening for the past six weeks so the gold price has been under intense pressure as the dollar strengthens. Its not all about traders ...

203m I hope you meant but sadly you are bang on the money and this will get rinsed continually. sadly

10% of the issued share capital volume today and 6% of that was a large seller dump... interesting for sure. Neutral view atm

If the dollar weakens against the pound that is bad news for UK listed company earnings from a dollar commodity !!

Gnome... With respect I have no clue what you were trying to convey in your post...??? try keeping it simple. cheers DJ

Gold up 1.58% now and this moves like a physical gold ETF.... sellers around but when gold holds for a day or two this will sling shot for sure

its trying to head down to fill the gap left at 4.45p i think this week... if it does that it should fly thereafter

Magoo... yes you are right I didn't see the detail of the last raise within the previous shareholder circular. Apologies you are right given that.

Earache .. no problem. You are right, I missed the mention in the circular of the explicit intention to use the proceeds of the raise to seek to aquire other companies / investments. My mistake. DJ

Magoo. My understanding is that a cash shell company cannot raise capital from the market in these circs without re-defining its nature of business and issusing a prospectus first to outline the transition of the business from a building company, etc, beforehand. It can, however use any existing assets (CASH) on the balance sheet arising out of the sale of the previous traded company to make aquisitions of another PLC or list what is in effect a private company into AIM via that route. There is a difference as new market participants have no idea what the prospectus is, whereas any existing share holders know all there is to know from the RNS'. How much cash does it currently have is the question?
The point is that they cannot raise market capital without re-defining the business.. so to say it trades as a SPAC is factually incorrect as it is listed as a shell company whose previous business has ceased.

thanks Indy just checking in. There is nothing stopping MOGP making a bid for any company (or listing a current private company) using existing assets (cash on the balance sheet) it already had from it disposals of assets of course, but it cannot, from my understanding raise further capital from the market to do so without redefining / issuing some form of revised prospectus. So the real question is how much cash does it currently have..? I've no idea, but it will be interesting to see how it pans out.

Demon, yes maybe I am being a little picky but it is the detail of the prospectus to re-define the business that should really matter to investors otherwise it is nothing more than a blind punt. cheers all

my last word here but to set the record straight MOGP is defined as a shell company not a SPAC. It cannot operate as a SPAC fro investment purposes unless it is listed as such or / and has outlined such an intention in a prospectus. A company trading as a building supplier cannot simply operate as an investment vehicle without redefining it's purpose in the listing. It also cannot raise capital for such purposes without issuing a prospectus to the market... that is my understanding but dyor. There are some horrific ramps and falsehood being bounded about today so please everyone do some research on the listing rules etc before you make any decisions. ATB DJ

This is not a SPAC it is a shell as defined by market rules so look it up... and you're ramp is misleading and, on current market rules simply false..

Max.. This is not a SPAC it is a shell company. Two things can happen, either they raise capital (6m) by issuing a prospectus for share holders / investors as a revised company listed as a SPAC, OR, they can taken over by another company for a notional sum of the companies assets (cash) and maybe some other level of incentive (warrants etc). The company doesn't raise funds to be taken over all that happens is that the BOD accept the terms. That is my understanding of the position and if people are interested a good example is bidstack from 2017 if you look at that process.

a cash shell is exactly what it says.. It a company with no assets or revenue given a nominal worth by it's notional directors share holding. It is like bidding someone for one nominal pound by offering them £1.03 when the reality is there is no asset only a nominal pound. orph may or may not take over the asset but if you want value it makes no sense to buy the vehicle.. Good luck thou everyone hope it pays off for all of you here :)

Trader3 .. bang on. The purpose of a cash shell reverse take over target it that the spin off aquires a cheap shell company. The majority of share holders in the shell will determine the take over offer not the minority. Therefore it stand to reason that any Orph holder bidding on MOGP shares is actually doing themselves out of cash in the long run. Makes no sense to bid up or trade a shell company when you know where the target asset originates from ...

suspect we have a few people looking for defensive's landing upon us now

The point here is away from the UK economy and the companies determination to correct the error of a lack of investment in the US, China and India where the income streams were not maximised. What ulvr do have is pricing power and therefore any inflationary cycle is one they can ride out. The FX issue will resolve itself overtime mainly as the £ devalues over time to keep pace with the $. for every downside appraisal there is mitigation from being a global reach company. Safe as houses long term, bring on the ice cream season :)

So you are making a retracement judgement to what was a Feb 2008 low on what technical analysis rationale other than that? Please do me a favour and don't bother.