Member Info for Ironic

If the BOD say no to the offer , they could have the threat of legal action hanging over their heads for ten years . Would they want that .

Price action and the big sell ...stink of a placing . March Placing was based on inaccurate accounts , I believe by mistake . So the company appears to have put the £10 ashare placing money to one side , in case of legal action asking for it back . Without using that cash the company will be needing cash soon . So a placing whilst the SP is strong , usualy a few weeks decline in SP then a 20 - 40 % discount on the previous SP .
The intresting twist if this is correct will be the next financial results will confirm cash rich , but I suspect that cash is being hedged against legal claims . Just my guess .

Shorters have backed the prior £200 million refinancing deal and are now in up to their eyeballs . The buyers are backing the 5p a share offer with the demand . Intresting BB .

So your not willing to lose sleep in it , but you are willing to waste your time posting and following it . Lol .

Fair point . This is a condition ...The Possible Offer is pre-conditional upon Debenhams immediately appointing Mr Mike Ashley as its CEO

There it is in black and white 5p per share offer on the table , but the market no longer trusts a RNS they now mean nothing . Once the trust has gone .........

25p a share would be nice . Lol . As it stands 5p looks very good .

Was it 16p down to 1p over night . By the use of a premeditated market down grade to allow the plan to play out . Long lastin dammage has been done to the markets . The SP here is proof , in all my years following the markets I have witnessed when a cash offer is made the SP reflects that offer immediately as that becomes worse case ..5p worse case . But the market is scared they might not get minimum 5p ?

How much is it costing the market to try and keep it cheap for its shorters to buy and close . 5p minimum looksto be the case .

Before FLYB ...this would have opened at 5p because that was worse case scenario . The markets have had every spread of confidence removed by SIR Richard and god fearing Stobart . The dammage they have done to the worlds economy will show through and is showing here . Every one knows pre FLYB this would have been 5p on that RNS then the gamblers would have paid more . Lol . Sir and Stobart have cut their own throats long term .

FLYB was always going to affect the market the dammage is there for ever . A cash offer of 5p the only way is 5p or negotiate for more . Yet SP below 4p . This is because of the markets disaster with FLYB lots have left investing following the markets incompetence allowing it . The irony is Virgin and Stobart bagged a bargain but have cut a artery in the very markets that hold their value . Trust gone ! . Long term it was a foolish move .

Yes that’s right Bannon I move around looking for potential and timing . You appear to stay put moaning that the share is not going up in streight line moaning that the assets are rubbish . So who is the fool some one staying put some where that they are not happy moaning day after day . Or the person who moves on when they are not happy .

Dilution kills oil and mining company’s . To get a decent placing price was wise . The RNS explain the money is for drilling which should create more value to another asset . Guess the time to sell and the time to buy back or where to move to next .

All I have read is people saying the BOD are rubbish and the company is going no where , even saying they are going bust . The fact is every stage costs money lots of money , not just here but every mining or oil explorer / developer . The peaks should increase but there will be more funding needed along the way . People who don’t like this need to re consider which sector or market they buy in to . There will always be licences , permits , equipment , drilling , exploring and testing to pay for . The placing could well be forward sold the volume has been very high and they will have been agreeing details for a while . It looks like the BOD have built a impressive portfolio .

Bannon the poorest de ramp ever . This is a investing company investing in mining at diffrent stages . It is doing well in the sector . It’s just like UKOG in oil . People shouldn’t exspect miracles it takes time and money . There should be plenty of good news to come . With Seven assets the news should come thick and fast . Yes there is debt but they have been selling a few percent of a big asset so that debt should be reduced .

Mining is like oil ...lots of investment needed , always SOMTHING to pay for and takes time . So the long slow road is normal . It is actualy starting to look like they have bought in to some good prospects . As for the placing I would rather it be at 0.15p than a 21% discount of 0.11p . Less dilution this way . The long term holders had the option of selling at plus 200% .

The Glencore deal is done but finance is needed . Which I like to think is a given at this stage . Regarding the figures the first ten years are set , but the Toronto market did not like them forward calculating . All is still very good .

I hate placings “BUT” with a 200% rise it was the correct time to start negotiating a placing as all placings dilute . So on a high the dilution was reduced . Come on Toronto re rate .

Only had a small kicking compared with most ( not in the informed loop ) . So licked my wounds and try again . Apparently what dosnt kill you makes you stronger . Lol .

Good news then a placing .lol . Lucky I had jumped of the train lost some money as usual but missed the big hits . Shorting is far safer , the economy is doomed any way . Lol .