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I honestly don’t think they do, otherwise the strat review costs would have come from that and not the proceeds.
If strat review was paid for with cash within company it would have said something like £1m net proceeds, and not £500k.
The £900k was prob held in the subsidiary and allocated or used against subsidiary some basic costs or allocated to be repaid to credit facility.
My thoughts are because that £900k was still in the company BAAJ paid £0 for it effectively, with Adam paying £300k for his 25% to round it up to £1.2m
happy to be proved wrong by the company releasing an RNS, but either way I based my trade on a company with £250k cash, which is less than they should actually currently have.
ITS just a trade.
It was a good trade, I got ~10% more than I had before and “if” I was slightly quicker I’d have had 25% more stock for the next round of the rally
No it says “insufficient funds” :)
Can get a quote to sell 700k in one go, at more than I paid.
I was quoting yesterday for £50 and lowest was 0.49, was thinking overnight Wtf am I doing, 0.01p difference is £5k mcap, just didn’t want to pay the mm his spread, but guess he got me to pay it in end, no worries I’ll sell them back to him if it goes worth while chunk higher
Don’t kick yourself, I had a quote for £1k at 0.49, was the most I was offered sub 50, £2k at 0.5 at one point, wasn’t many down there.
I’d say mm sat on about another 1m under 0.55 from dip, couple mil more from 0.55-0.65
I put a buy order in at 0.47 and it bounced, so thought sod it took some at 0.5 and 0.54 back, I’ll just have to hope for 0.8p with these ones.
What’s £26k mcap difference between friends 0.45-0.50
Yes you can ;)
So to summarise the BB the last few days we have a scale of worthless from one camp to 7/8p from the extreme other, with a small gathering thinking cash in bank is where it should sit ~1p, and move +\- as that cash pot does.
And the mm saying 0.4895p is the entry and 0.4665 to exit atm.
;-)
We are all p ing in the wind,
ill prob join you on that one if we get the chance cyrox, i see 0.4 as a solid "support", 0.7 next resistance from yesterdays buying (its £200/300k mcap, doesnt take much technical approach, more about buying / holding or if inclined to do so selling when the MM let you and as the volume slows.)
Got till September, im sure there will be a few rallies and falls by then.
4955, oh ITS tempting
Still 515 to buy tiny though
I’d prob buy it again if it did tbh, but I have my doubts it reaches 0.4 again, over supply of shares on the market floor has dwindled, and will dwindle further with every rally / fall which then makes a rise almost inevitable
It’s fine trading it, can be profitable, just don’t be in when momentum of the up stops.
ITS not the company it was when you invested, ITS just a shell company with a couple of quid in its piggy bank.
Just doesn’t need to be ramped to achieve IT but I still foresee a penny at some point.
And … 1 share trade earlier so prob get that Cheverton TR1 soon, people love a “seller out” RNS :)
And they ran at a £1m / month loss and spent that cash between 28/2 and 27/3 the time of the sale.
“The c.£700k you’ve estimated actually relates to fees relating to the transaction (strategic review and sale of ITSFL) with the remaining £500k being the amount in the company immediately after the transaction (“net proceeds”).
The business needs to consider the costs of the MVL as well as those associated with being an ongoing cash shell listed on AIM (Nomad fees, listing fees, insurances etc). It also needs to recognise creditors it has itself which will require cash going forward in any scenario.
Importantly, the MVL is subject to shareholder vote and approval.”
——-
I’ll share the above reply I had incase it helps others make an informed decision, it’s just a trade, good luck.
There’s money to be made trading but no need to ramp others in on falsehoods.
I emailed them a while ago, the £700k relates to the costs of strategic review and costs of the sale.
The £900k was used as working capital in the subsidiary thats was sold.
£500k is what is left
Minus the running costs of a shell for 6 months, (staff costs, aim fees, legal, offices, circular for potential MVL) and left with around £200k.
Which is where is sits and around where I predict what will be available for distribution if MVL succeeds.
If there was more cash left the strategic review costs would have been paid from that and not from the asset sale proceeds.
£700k was for the strategic review and costs associated to the sale.
The £900k was used running the business in feb.
The have £500k left and will use atleast half as running costs for next 6 months, MVL costs £50k, might be £100-£200k returned to shareholders if MVL succeeds which is subject to shareholder vote.
There is no magic pot here, but 1p is where it should be.
I chickened out and sold lol, account is £1500 better off than this morning, I know, I know it’s worth more but I fell for the old NT NT dips, get quote, NT, dips, gets quote press sell, fomo 10 mins later I look to buy back and NT so yea I’m locked out with everyone else watching.
I can’t get attached it’s just a trade, You wait Tr1s will come in now and flourishes