Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Art/Bottmzup
Do you two have nothing better to do other than post reams of drivel on this board, do you not have work to do even housework or gardening if you are unemployed. Most of the criticism you raise have been answered numerous times by other posters yet you keep going on like two broken records.
Why locations with only one restaurant , we would all like 50 in every location but that is not doable overnight. As someone who lives at a location not yet covered I am eagerly waiting for the opportunity to use Bigdish even if for a time there will be limited choice. We do not all live in a large metropolis. Finally does anyone still use websites for restaurant booking when a smartphone App is far more convenient. I would have thought Art and B'zup would be up with the times in this respect. I would imagine the company are aware that getting the App slick and attractive is of greater priority.
'A fund raising before June 2020 looks a certainty unless very, very rapid progress is made with sign-ups'.
I fully agree with this statement made above. I estimate with running cost of £1.5m pa excluding promotion costs it will require a minimum of 1500 restaurants to break even. If this number is not achieved by FY end (March 2020) then fundraising and dilution is inevitable.
The question here, and probably depressing the SP is whether VOG are going to need more funding/dilution. Assuming payments from ENEO are received without further delay, they should have around $5m operational cash flow this year. They then have update to processing plant and Well 108 recovery costs to fund which are unknowns. They may well have payments re legal case. It could be a close call and that does not include an Matanda obligations further down the line. I do believe that we now have better management in place. Hopefully we have seen the worst here.
Concentrating on signing up restaurants is fine, but without punters ie App downloads in the respective areas it will be a waste of time Ie restaurants will get disillusioned and drop off the site . Bigdish will need to promote their App in the respective areas to get punters onboard. To what extent Bigdish are advertising is not be clear. They only have limited funds available which will restrict their promotion efforts and hence their rate of growth. Restaurants are obviously interested in the concept otherwise would not sign up in the first place. The attractiveness of the business model will be dependent to a large extent in the variable/fixed cost proportion of total costs. This could vary from region to region to region, country to country and could explain why this model has not been much of a success in the Philippines.
Cannot imagine why they chose to halve dividend and buy back shares. This was an income investment for many investors. If I was cynical I might suggest increasing earnings growth is better for directors bonuses or share options. Only surmising.
'It is hard to believe that Altalto would have proceeded with the planning application without the belief that sufficient funding would be available.'
It doesn't cost much money to put in a planning application.
See RNS dated 4th June 2018. But I assume stuck gun will need removing to achieve full capacity.
It is my understanding that they were intending being selective in restaurants they included on Bigdish the is not conducive to self sign up. Whether this will change remains to be seen. However software would need to be downloaded to the restaurant computer system and there may be instructions necessary on how to use it. I think it also worth pointing out that Area Managers will need some training after recruitment and will not be 'on the street' immediately as some posters on here seem to think.
Options are a racket and should be banned....No downside at all. Usually given when shares are near an all time low and if they don't rise the options are not taken up and just allowed to expire. Give credit to Dik in this case he has taken some of his options up @ 14p and therefore has some skin in the game.