Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Just adds to the point that any future Tier 1 contracts need to be highly cash generative and profitable. I want to believe MIRI can conclude any negotiations from a position of strength, not desperation. Today's RNS doesn't instill confidence in their confidence!
It seems 8 new holes in the North will be drilled. Didn't realise that the 6 previous holes we are waiting for the assays of where focused on areas of thinner mineralisation. Good to know they are being approached by a number of potential partners but now have stronger funding and should be able to make non-desperate decisions
2phev, excuse my typo, but you will know that MIRI have NOT yet delivered a contract with a Tier 1 client. They have previously given the impression that they are working with multiple Tier 1 groups and may land more than one contract, so why they are worried about losing talent at this point and have reduced the sp target for vesting to just 3p is not a good sign for me. Thankfully, my investment here is modest and at the 1.7p level, so I'm not losing sleep but neither am I drinking KoolAid without any counterbalancing possibilities
People manage and readjust their holdings based on many things. I remember people losing so much money with the likes of MCLS and CLLN as some people shouted of the incredible opportunity to buy them at low prices. Nothing is guaranteed, hence the wisdom in some diversification of holdings and not being over-exposed when a company has promise but hasn't delivered hard contracts and positive earnings.
Ahead of the interim results in November (which surely are going to show continued outflows?) it would be good to hear from management on the strategy for growth and diversification, given the failure of the GAM acquisition and the over-reliance on Uk equities (which are out of favour by LIO's own admission)
"Recent events stacking up as factual proof..." Steady on! There is a long and ongoing list of companies that have promised/suggested they would land a major contract with a Tier 1 company in their field but who spectacularly failed to do so. If and when the RNS comes, that is the "proof". And will be welcomed.
The animal spirits of the market are not convinced of the potential or expectations of MIRI. They want, as a start, to see if MIRI can land a hard actual contract "with at least Tier 1 customer by the end of the year". Facta non verba - Deeds, not words.
We know MIRI's capabilities and potential. But we know the best product/service/tech/team often doesn't win. I'm looking to whether the reduced/slimmer MIRI team can actually land major contracts and significant recurring revenues. If we don't see hard evidence in the remainder of this calendar year, the cash runway to August next year will feel very short.