Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
You could say it’s insider trading but knowing a year ago that we would see a drop in SP then it would have been an ideal time for him buying in despite recording a paper loss!! At this point in time I see him having no commitment to the cause whilst others in senior positions have done so!!
I felt that the insider trading excuse was utter B/S!!! What a better way of giving confidence in the past year than members of the board particularly JR buying in! With the no new policy and the obvious downward sp he could have used it as even greater PR that he and the BOD was confident and wanted to buy in at higher levels! No sighting of insider trader could have been levelled at a lesser diminishing SP!!
The man is a dinosaur ( I hate using that term but I this case is true) and holds contempt for us PI’s and must go!! Throughout the past couple of years I have supported AB (and sometimes felt his less than honest words were maybe necessary sometimes!) and I’m starting to feel that his true worth is starting to show ...but he mustn’t be held back by JR
Mucksy/Bumble yes Thalion are allegedly (according to AB) a group of wealthy US individuals who had previously been shareholders in AFC and whom had previously had a shareholder but sold out with a profit(?) but liked the company!! I quizzed the 2p SP floor that AFC would have to go cup in hand to draw against the facility but AB dismissed this as an arbitrary figure and no issue that the facility could still be used!! I’m personally not happy with that answer as to me it’s a stop loss figure for Thalion to commit more funds and if right could see AFC in a funding predicament!! The board by hook or crook in my view need to get this share price up away from the precarious point we are at the moment or could find themselves in an extremely dangerous funding crisis!!
On another point I do wonder about the whole BOD’s! For AGM after AGM it is left with just AB batting at the crease... I do wonder what the others really do bring to the table (except JG) as to be honest they just appear manikins and what do they even contribute at the board meetings... very disturbing!!!
Yes well done all to those who attended... I think that JR & AB were taken back by dissent from us PIs !!!
Did anyone manage to speak with either of them afterwards since I missed their departure and didn’t see anyone except Jim Gibson remain behind after others left??
I think his excuses for not buying into the Co due to “insider trading” was the most pathetic excuse I’ve ever heard from a Chairman!!
We haven’t signed a contract or enhanced the SP at any point in his 18mth or so tenure as a Chairman... how could that be construed as “inside knowledge” if he had bought in at anytime until now?????
I dislike his ability as a Chairman even more than I did 12 mths ago!!
For clarification... The benchmark line was the voltage output deemed to be an acceptable level (not disclosed as sensitive information) before the stack was considered to be sufficiently degraded. They said that it was viewed as a stringent level and by lowering could provide longer longevity!!!
Great to see that the issue of improved communication has gone down well!.... the results of the resolutions have not been published via RNS!! Normally these are done during the PM on the date of the AGM???
Come on AFC let’s at least start to look a professional outfit!!
BumbleB ....I’m against a “no news policy” but just highlighting just how transparent and blatant this one is and contradicting our beloved Chairman’s own policy!!
See you in the carpark for the demo I guess around 1pm!! :-))
Bet they try and dress this up with a demo in the car park to get us out ASAP!!!
Didn’t Mr Rennocks say no further Comms with respect to MOU’s and only Price Sensitive information... well this RNS fails on both counts and just a cheap shot to passing we small investors!!
One issue that is starting to concern me is that if the share price falls below 2p then Thalion have to grant consent to future drawdowns under this facility!!!!! Will it be given???
Therefore if we see a further deterioration to below 2p then effectively we won’t be a going concern IF they refuse to grant further drawdowns!!!
Quote
Subject to maintaining the share price above the floor and receiving shareholder approval to allot share the Forecast indicates that there are sufficient cash resources to meet the financial obligations as they fall due for a period of at least twelve months from the date of approval of these financial statements.
Unquote
This is a referenced in the Directors report under “going concern”!!!!
Athensius
Your quote “If Bond does not come out of the AGM chastened and humble the PIs present have not done their jobs. Please ignore his silken prose and promises of jam tomorrow. Ask specific questions. Do not accept politician-type answers. And do not leave until those answers are forthcoming.Nice to see the ones with the biggest axe on here will be the ones NOT going to the AGM!!”
If you really have a major problem then attend and have your word aired there and not a warrior on a BB!! If it is really that important you would find the effort to attend!!
Hi Rob... must have been Strontium I’m not a jag person!!I do hope that he is well. Since I had a health scare in the last couple of years I told my family about the potential and not to sell till at least £2.... I don’t know why but they just laughed at me!!!!:-))
I’d like to see the Fund Manager’s presentation on this when he went to Schroeders Senior investment board saying he wants to invest more in AFC after they’ve already taken a 65% hit within 18months on their previous investment here!!.... it must have been one hell of a compelling case!!!
Tetrolite
Hargreaves Lansdown reported this trade as a buy... I’m more confident it was a buy then or 1/2 transfer to Thalion as most sites just report based on bid /offered prices... I have more faith in HL reporting and accuracy in timing too!!
Lucky
It is not necessarily to protect the investor but maybe. It could be set up for various reasons
1. TAX efficiency
2. legal reasons
3. Regulatory
4. protect major investor etc etc
Who knows? Without knowing more then we are completely in the dark and as you said what happens if they should default on future drawdowns???
I would like to know more!! It may be even more beneficial for AFC as it has provided a cheaper source of funding!!!