Member Info for Dj_crisp

A nice update.

I read it as second half of calendar year at first and thought there is a delay... wish he'd been a bit more specific on an important detail like that. Otherwise a good statement as we all know it's a great project.

An interesting RNS pretty much stating the obvious. .. still think it's a good deal for cornerstone shareholders, as raising the cash needed would need a serious dilution to them imo.

Don't let the facts get in the way of a good story though.... lol. Anyone reading this board will quickly see through the "master"

"I take the stock market as a way to make money first and foremost" No sh*t sherlock :)

http://www.cornerstoneresources.com/s/NewsReleases.asp?ReportID=844437 Link to their response.

Cornerstone have rejected the deal and do not sound like happy chappys. Lol

This makes the financing deal even more curious to me as I'm sure the production numbers will have been known or at least inferred at the point the deal was made.

Results are very disappointing.... and without a financing deal in place to keep RBW going then I think I would have also cashed out this morning. Possibly foolishly I'm going to give them another six months to sort themselves out.

CGP liabilities will remain if they're not in SOLG hands.

It's why it's a clever deal and I'm sure it's been planned for a long time - just for whatever speculative reason now is the ideal time.

GLA

Pleased that the non-issue of the NOMAD is out of the way... just a pity this couldn't have been sorted sooner but it's sorted and thats all that matters.

Business looks good... re-financing to improve bottom line. Whats not to like :)

GLA

If I were a cornerstone shareholder wanting to maintain Cascabel exposure (without any emotional attachment like disliking NM etc.) I'd take this as basically you get 20% free shares with no downside like trying to find the cash for existing commitments which would obviously dilute the holding.

A 3rd party bid would have to be huge imo and many multiples of the existing shareprice as I believe Cascabel will be eventually be sold for quite a bit! surely the cornerstone shareholders would prefer that to a small 3rd party premium now?

As solg holders we should benefit from owning all of Cascabel which more than offsets the cost of dilution of obtaining cornerstone.

A clever deal by NM imo.

Did cornerstone split off their assets into a seperate company (I seem to remember them having stuff other than Cascabel?)

TBH it makes sense for the holders to accept the offer if they want future exposure of Cascabel and I guess those that switched to cornerstone will have a 20% premium over what they would have if they hadn't have switched?

Thanks Trout.... that explains why I missed it ;)

Aha found it on this website... Good news

Morning all Anyone got a link to today's RNS? Strangely i got an rns alert which sent me the agm results and can't see a newer one listed on the LSE. Just thought it was an error Ta

Thanks Matt. That's good to know - hopefully I'll never find out ;) My communication from Iweb also included a slightly reassuring statement that we've heard before..... "Management Resource Solutions are in advanced discussions to appoint a replacement Nomad and are confident that one will be appointed prior to the 1st February 2019 deadline." Let's hope so as it's just a distraction from the real prize imo. Cheers all

I'll have to get twitchy on Thursday if this is not resolved.... If suspended I'll either have to sell to maintain my ISA balance (and lose out on bid offer spread) or do nothing and lose my ISA allowance and then pay CGT if this thing ever makes fair valuation. I'm not a happy chappy that this is going to the wire.

Then thw RNS has this quote.. Lind has contracted not to short sell the Ordinary Shares of the Company and not to acquire any more than 9.99% of the issued share capital of the Company at any time. I think I need to sit down and properly understand the deal.

Yep. I'm finding it tricky to understand too... Although I blame it on me having an early start. I read it as an unsecured loan initially. .. but then it goes onto to saying convertible into shares. Confused. Does future funding then always be at 5.something pence for the next two years?

re - the BOD are deliberately steering this off Aim.

You never know with AIM.... but would they really want to shaft their own workforce who own shares? That doesn't make sense to me.