Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Agree. Short term pain but best in the long run.
They will suppress shareholder value and absorb any SP bounce. Once it rises they will concert and offload, leading to dilution and lowering SP. vicious circle here for a while until they are gone.
Agree. Best to get rid of Riverfort as people who profit on short term strategies wreck shareholders value.
Riverfort can’t be blamed. This is their way of derisking early and making money. I know people got annoyed at me for previously warning of dilution after dilution but I am trying to share my knowledge of how this game works. Unfortunately all upside is taken off the table for loyal shareholders by this type of structuring when companies don’t have their own cash piles.
Aunty - this is very clear. Thank you for the clarity as I genuinely didn’t know.
I really don’t understand the BBC reporting when it says INFA have “bought” H&W, when it is clear they haven’t.... and am further mystified as to what work the H&W employees are returning to today when they don’t work for INFA until the end of the month.
You guys really don’t enjoy any hard scrutiny. 79 or 100 employees - it is the same question. Who is paying the H&W salaries for this month? Simple question that deserves a simple answer (rather than a diversion tactic of just abusing me when you don’t like the question).
No ulterior motive - would like to see correct journalistic reporting and understand who is on the hook from today for 100 workers salaries. Are you guys not concerned if it is INFA who have to pay wages at the end of the month?
It isn’t a silly question. I am trying to work out if INFA have acquired it yet and if they are now on the hook for 100 employees and salaries yet. It is a sensible question?
Not sure why you act as you do speedy. You asked me to be open and I was. I am involved with many other companies and projects - you were not meant to be inspector clouseau on that statement. I also held some energy projects in the past (not INFA) but for several years I have been out of the sector. I have no holding in INFA but am interested in NI business and projects.
Now can we get back to an open discussion?
BBC report that INFA have bought H&W. I understand from the RNS that they have agreed to buy it but haven’t yet acquired. Does anyone know which is right?
Speedy - how many other NI focussed AIM listed companies are there for me to study? I am involved in many direct NI and UK projects that don’t have a listed wrapper around them which would not be visible to you. Please don’t be so sceptical. Hopefully what I have said is balanced and not inaccurate or misleading as that isn’t the intention.
I am always interested in interesting projects.
1. No - I have already stated I don’t trade penny shares.
2. No significance of the date as I was well aware of INFA from before this but no links to prior co.
3. I thought the name was funny. I can change it if you don’t like it.
Speedy, no am not a previous employee and don’t know the previous board beyond what I observed and read on this board and on the media. I have also said that I currently don’t invest in penny shares so I am not sure what else isn’t clear.
I don’t know why everyone gets so aggressive. Is there something people are worried about by having a balanced conversation? There has been nothing for me to discuss previously as I have stated, I am not a short term penny trader. I am more interested in long term business building, well financed companies and ensuring this will go through for the longer term security of the workforce.
It is good news that the H&W workers returned this morning to work and it would be useful to know who pays the salaries of the 100 men and women as from today. Is it the Government still or INFA? as I don’t think the deal has gone through yet and INFA don’t have any secure work yet for them. Albeit as Mr T points out it looks like the pipeline is a potential.
I have been around a lot longer than that Spud. I don’t get involved in penny share day trading conversations, hence why I don’t tend to comment when nothing is happening. With INFA, except the internal management fighting and external project protestors, they have been an expensive corporate shell without cash raising small amounts of money to pay fees, consultants and salaries....now we have some real issues to chew on.
thank you for your thorough response Mr T and I do admire your optimism. I also agree that the NI Government really will not want this to fail.
From a shareholders perspective the reality is that we have a large monthly burn of workers wage bills, site maintenance, board wages, nomad fees, legal bills, rates liabilities, interest on debt and all the standard daily bills that land in through the door when owning a listed asset of this nature. On the income side INFA have nothing solid...just a lot of future hope on this share chat board whilst being caught on the dirty side of energy and gas storage whilst the world and Belfast is announcing climate crisis. Monthly cost burn without income is perfectly fine if the site was owned by a company sitting with lots of cash on the balance sheet as it can afford to make non-rash decisions and still meet month end payments ...but for a cashless entity like INFA it might be a step too far.
I do fear the Government will have to write future large cheque of support into INFA and this site.
Asset value in this case is very subjective and I am sure any affordable banking partner will look at interest cover lending and future earnings. Let’s hope income comes quickly so that INFA doesn’t just burn the expensive loan and then dilute all the shareholders in a silly rights issue rate like it has done over and over and over and over and over again.
I like to be educated. Not lonely just curious.
I am not in the haters camp despite what Speedy claims - just providing a balanced voice on the board. I simply don’t understand how a company without any money agrees to buy iconic cranes in Belfast knowing they have a massive liability burn. I fear it is going to be a long cold winter. If there was funding already identified the board would be obliged to Disclose that to investors so let’s move forward with eyes wide open till a more meaningful legal agreement is signed. Let’s hope Unite union have done their homework and due diligence and this isn’t a publicity stunt.
Positives are that I hope it works out for the workers of H&W. They deserve a strong employer who will look after their rights.
I am not doubting the raising of money. I just know how hard these types of projects are on the existing shareholders. No debt comes with less asset security and no equity comes with massive dilution. I am looking at this from a shareholder and risk perspective as I know how deep your pockets need to be for non-income producing project of this scale and unfortunately shareholders get hit with dilution after dilution each time there is a cash call.