Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
A good overview of the global estimates of gold left on the BBC news today
https://www.bbc.com/news/business-54230737
Did anyone else get an email from Sarah cope today with invoices due? Did not click link. Assume she has been hacked!
I am no legal expert, but there is the whole directors responsibilities. Duty to all shareholders. The fact the directors and company are not giving any updates, is in my view a failure of duty. They know very well, the views of 28%, thanks to the effort of Les. The least they can do, is update. Especially at a critical like this.
Well maybe there is a long weekend of discussion happening! One could hope.
I asked Les about the Covid extension and his understanding is, that it would not be given for a number of reasons:
Unfortunately no. The extension will only be given under the "coronavirus" regulations if the conditions set out in my email are met. The nomad requires evidence that there are valid commercial grounds to give an extension.
Well said. What is the legal standing with the requirement to publish a Q2 update? This update will be crucial in the debt discussions. The level of interest payments are hefty as well. It would be very wrong to not update all shareholders of what is going on with the mine, let alone the debt payments. I am sure, the action group will have this in hand.
Hello. I am 99.9% sure the deadline is the 8th of September. 6 months to sort it or be delisted. The AGM will come too late.
Also if the Candy brothers want it private, they have to deal with the other major shareholder first. So the big question is, are they now working together?! If so, then I see no hope for us small investors, even with all the good work done by Les. If they are against each other, who knows. We are all in the dark, only time will tell. Trying to stay positive!
DnaNudge and Oxford Nanopore. One of the main stories on BBC
https://www.bbc.com/news/uk-53632043
Just a random thought. From reading about other companies. They could apply to extend the suspension, due to COVID. I would assume it could be argued that due to COVID the mining operations were impacted, reducing the finances, and not giving a true reflection of what it can achieve, thus in turn impacting the debt. Just a thought.
A valid point and I would agree. I was reading up on the delisting scenario. Also thinking unlikely they put it into administration. The debts would be easily paid given the mine workings and gold price. The Q2 results should help show this. So what’s the way forward....