Member Info for Iluvise68

More whispers and rumours about due diligence about an outright sale, but as ever no evidence at all for this.
This share is suspended and the only reason why anyone is de-ramping is because they committed the mitake of selling at the bottom and are seeking a re-entry point when it re-lists.

I’m sitting on the fence until we know the outcome of the current process - he has a large shareholding so his interests should be aligned I.e anti dilution

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How did you come by this information- it’s not exactly promising if they are forced into making redundancies

The issue is that the mine requires additional funding (for ore sorter etc) to reduce the long term costs in which case it is very much viable. So it should be an attractive acquisition for a company with deeper pockets

The best solution for all parties would be a reasonable take-over (not a fire sale) so I would expect the lenders to extend credit whilst they explore the options. Meanwhile the Cooper price seems to be increasing and they have a a few months ore to mill so they should get over this hump.

What’s your cunning plan then?

you've been talking about a T/O since early September but no sign whatsover of that atm.

Otherwise its just kicking the can down the road for another 4 weeks.

In an ideal world they would re-finance the exisitng debt and finance the ore sorter and other impovement to reduce ongoing costs and increase profitability.

We could be chuntering on here for another couple of weeks without any news. I have sent a reasonable letter to Rambler but do not expect to get a response. We should know if anything is in the offing if there are some very significant buys/sells. There is certainly no whiff of a take over/offer at the moment.

I think we can take some comfort from the fact that Mark Slater/Slater Investments participated in the August20 placing and have a 11% share of the company.

I agree that £305 is a low ball offer, given that this is a recovery share with upside potential.

Has a formal offer actually been made? there has been no more news since the announcement of a potential final bid.