The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
gkb... You make it sound as if I told you to move on and sell up . I only asked you WHY.
I do find it very strange however that posters like yourself, who don't trust the BOD, expect to regain some of there money.
Surely you would expect shareholders like myself to find it difficult to trust posters who are constantly negative about the stock that they hold.
I don't know whether it is true or not, but looking at the last raise of funds and the fact that we have been in production for a limited time, I would rather trust Andrew Hall than some negative poster on this website with only a username to go by.
Stated in the Pod Cast ....Importantly they maintain a good cash position despite the purchasing of new equipment, and they continue to sell to their off-take partner.
All we need now is for Atlas to delay converting.
If they do convert, then at least it is over and done with.
I'd like to remind people that the share price has been going down since last July 2020 and at best flat since Jan 2021. Nothing AP has said or done has made the SP go up. A point that has been stated many times on here during that time.
From the response I guess many posters on here do not own shares. I am not ready yet to vote AP out, I believe it would be best to let him do what he has to do, but should this new approach fail, then I 'm sure most will want someone new to takeover.
As I stated, they have cash of 4 mill to pay for said equipment, if they wish.
Covid is not helping, but he does seem like he is learning as he goes along. Hopefully this new guy will have more knowledge.
I'm sticking with it too, as I think it will get there eventually . My average is not bad, so I still believe I can make an ok profit.
I'm probably wrong, but I have always felt, that since the bank declined the funds, the restructuring and re-finance would not happen. I'm guessing that this new plan will replace the need for restructuring and therefore the need of the refinance. I imagine the increased production from the new layout and rising copper prices will be sufficient.
However I'm resigned to the fact that Atlas will not be paid -off, and the £4 mil in cash will now be used to upgrade the mine.
It would be nice if the Zimbabwe JV was signed and we could sell off part of the diamond asset and use this to pay-off Atlas, but we will see. I'm sure there will be an interview shortly.