Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Sharebel and Shouston, AM has just handed out another massive bunch of dirt cheap warrants? 59M warrants at 16.75p? He needs to explain better as to why, Cuda raisings have already happened? This means a future price of $3 will now be only $2.40 give or take. WTF? Even paying it off quick with RBL, the damage is now locked in. 22p down to 18p, circa 20% dilution, which he has just signed off on...
Maybe AM will send out a clear message and reason for this deal, which appears to be awful from his RNS? I expected the bridge loan at 10% interest, instead our largest shareholder gets 13% plus bonds to dilute us yet again!!! Who is the largest shareholder? Is Art linked to them in any way cos this is a shocker, again.
MD248. Nubby is right, this is a 59M share addition to the register, on top of 13% interest on the bonds. We know they will be exercised because they are on sale cheap as chips. Even when we are £1 a share it is a huge dilution for 16.75p a share costs??? This is not irrelevant, surely
Beatty's, they have given 59M warrants at 16.75p. This is dilution when the shares should be way higher. This is the third time AM has gifted out shares away for cheap, each time to buy Cuda? The last $10M raise was for Cuda too? It seems wrong to me, although maybe I am missing something. Reads like a bad deal to me.
I do not feel it is a good deal at all!! More like easy money for the largest shareholder. 13% interest and rising every 3 months. Will the RBL pay these off early? Is it cheaper than the bridging loan? Very messy RNS to read. Another huge dilution at a stupidly low price. Grrrr
So shortly after last meet. Keep an eye on ASX:NCM in the morning (late tonight for you guys), I assume they may announce the 5% alongside their quarterly report, shares there have dropped 20%+ recently.
Ant, agree with all you say. I recently sold a small portion here at 12 month lows. Not happy doing so but need spending money. The 'inking' was supposed to be during the short return to EU. VW must be lined up for Skoda, and CR lithium. Unfortunately my other shares communicate better and stick to time frames given, or, offer greater upside in shorter timeframe than EMH do. Holding ASX:VR8 and LSE:COPL till I have no choice but to sell.
A quick sale here above £1 would now be enough, I had planned on £2-3 but it seems a long way off. GLA... Still hold plenty here in SIPP
The new confidential well flowed 120bod I recall. This alone should bring in $3M profit per year. Even 16 new verticals in deeps would cover our current MC in 12 months, never mind horizontals. A major will take us over within 18 months. IMO
I expect they have taken a 3 month pay cut to allow closure of a major deal. Offtake on PNG assets would be transformational for the company, even after this raise. If they did not expect to closes deal, I do not think align would be supportive of only a 3 month pay cut. Once closed, decent SP raise and all happy again. IMO. I will be buying more over next few weeks/months.
Link for Kate July admission but not official LSE site
https://knowledge.sharescope.co.uk/2022/07/13/new-uk-ipos-13-07-22-georgina-energy-plc-lifesafe-holdings-plc-spiritus-mundi-plc/
Roy, Cheers for reply.
Please refer to point 3.
3. JV and great MRE and drill progress ramping up SP
Only my thoughts, ASX listing is coming, the consolidation was mentioned in the video by SD. Why list then amend. The news due will drive any negatives from the consolidation. Already well undervalued.
From the video, I expect the following to occur:
1. 5% sorted very shortly.
2. ASX listing and consolidation at same time circa 20:1. 225M shares on both markets.
3. JV and great MRE and drill progress ramping up SP.
4. Once producing move up to FTSE from AIM.
The ASX is a strong mining market, in Oz, with regular reporting and stricter rules. AIM is a sh#$show. IMO
Comments on 88e are fair, they are way overvalued. But, they are now producers, circa 500boe per day. (70% liquids).
COPL in my opinion is way undervalued at current SP, even excluding Cuda and new discovery. Bargain of the year here, share riser of the year too I hope.