Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
True, unfortunately it looks like we have to wait for TA to make a move and hope that it is something that will improve Ormonde's prospects but who knows. Any news would be nice at this point!
5p very soon I recon, hopefully rerate will bring us higher! Onwards and upwards.
Agreed, once the reserve/re-rate happens, hopefully by end of Q3 this should move nicely upwards past 10p with a bit of luck! Good time to buy now.
Still no news/plan. Not looking too good for Tunisian business at the moment either unfortunately.
Think it's the market in general. An update of what the hell is going on and the plan would be nice. Read something that at the time of the liquidation of circle oil the Tunisian company was deemed to have no value by the liquidator. Can't remember the name of the company/fund who bought it but there was something else that in exchange for the licence they took a 2% stake in Dunraven which at the time was valued at 8 or 9 million (Dunraven that is, so 200k for the funds stake) I can't seem to find that now though. Don't think much has happened ever since but will be interesting to see if Tom Anderson is planning on putting Dunraven into Ormonde and what the equity split would be. Hopefully 50/50 but who knows? I think the plan is then to farm out the interest for development . . . and hopefully not raise anymore equity to dilute ORM shareholders further. All speculation though would be nice to hear something from the BOD, come on get your sh*t in order! The Dunraven website and docs seem to think there is potential there but we'll never know unless there is some action taken. Come on we've been waiting long enough for some news!!!
Yep it is, Dunraven owns the remaining Tunisian prospect.
Of the Bronze was still captaining the ship I'd say he'd be aiming for a rights issue of 5B shares @ 3p and job done for fundraising, would be best to go with no debt and get 1st phase development underway in my opinion. Sure it's dilutive if you don't subscribe but I suspect many would support and institutions underwrite the balance. Don't see Alan going off wildcatting with the money like the Bronze probably wouldn't be allowed to either.
TA probably has the same idea!
LG, Pageant Holdings and the other warrant holders seem to think otherwise for the moment at least.
The BOD can't do much without TA approval. I'm sure he has a plan (and likely did before he bought his 20%). I wish he would just state his intent so shareholders have an idea where this is going and get things moving one way or another.
I remember one username from iii called "Nigerian Delight" who as you say was one of the good commentators who actually convinced me to make my first investment in PVR which I made a very tidy profit from. Hoping I can repeat that now in the next few years with Spoton/Linn.
Haha .... surprised ( or am I . . . ) it took them this long to finally admit defeat. They made the biggest mess of a website revamp ever witnessed. Used to use iii daily but have found a happy new home here thankfully.
The geology and hopefully resource potential is the same tho.
https://en.m.wikipedia.org/wiki/Dan_GertlerInteresting read money to be made if the deal is a good deal . . . but that remains to be seen.
I hope you are correct 5-8p from here would be a fantastic outcome. I'd be a bit cautious about taking what the BOD say on merit it's the same BOD that made a complete mess out of a world class tungsten project but hopefully this time they get it right.
30th Dec, change from EUR to GBP.
Me too . . . but no update on debt/loans payable so don't expect much of a rise!
Buyback is limited to 10% or 47m shares, TA currently holds 104m or 22%.
Unlikely any buyback would only make TA position stronger i.e. increase his % of voting rights like the other remaining shareholders. Presumably whatever the asset they're looking at whether Dunraven or otherwise is going to involve some sort of share consolidation and perhaps an equity raise. It looks like TA is in the driving seat now either way.