Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
To add to the fact that this is not a “new problem”, RNS makes it clear that they are “outside normal payment terms” with trade creditors - clearly something that will have been occurring over a number of weeks IMO, indicative of cash shortages. Very poor situation for existing shareholders which appears to have been caused, once again, by mismanagement by BOD (IMO).
Cut my losses today - great asset but never-ending procession of negative issues which, combined with lack of clarity on way forward as per latest RNS, made this too difficult a hold....unfortunately
JBarnum - not the case at all - there is a world of difference between a term sheet and one that is credit approved - the former can essentially be issued as a business development ploy whilst the latter constitutes an agreement in principle, subject of course to satisfaction of the terms therein.
Chester - IMO the decline by NCM of the option has not fundamentally changed the level of funding (via placing and/or debt finance) required to meet ongoing development costs given how the majority of the option fee would have been used to repay the NCM loan - so, this situation to a smaller or greater extent was always likely to occur.
One thing raised by many posters relates to “shorters closing out” which will lead to SP moving up - I would suspect that vast majority of shorters will be eligible for the bookbuild so will purchase their shares during that process at the placing price of 8.2p - in which case, other than the positive impact of a (potential) cessation of the previous shorting activity, not sure there will be any material impact on SP from this aspect - but welcome any thoughts that might be more comforting for LTH’s!!
Will be very interesting to see the level of II subscription to the bookbuild - if the majority opinion on here is correct (that HAV is a generational find) then surely at the placing price of 8.2p there should be significant demand - increasing dilution but likely reducing ultimate amount of bank funding required...
ha ha - is this a ****take - read the RNS.
MassiveRay - and that is the sickener for me - PI's hammered for months and then the shorters get "lucky" with a favourably priced placing to let them buy back...
Sandgrounded - unless as a condition for any bank finance I would suspect that any monies raised/borrowed will be used to provide liquidity rather than repay existing debt (NCM Loan) - that doesn't need to be repaid prior to production in any event.
Not unreasonable that a Bank would ask the borrower to put some of their own money in towards the remaining development costs in order to release bank funding - which if RNS is to be believed, appears to be agreed "in principle" via credit approved term sheets.
No - not Taken the 5% as at date of this report. How anyone can suggest that the 5% is not worth 60m must be deluded - or have a different agenda to promote.
It is unthinkable that NCM will NOT take up their option - if they allowed this to lapse then from the wording of the RNS's (appreciate that some of the finer, technical detail of the various agreements may not be included) presumably the 5% would remain with GGP and NCM would receive nothing, simply retaining their 70% but not having to use US$60m from their coffers - albeit that would be an excellent result for GGP....
"Global company in the making, cease every opportunity, no good sitting on one project at a time. AIM high. ATB."
Ha ha - freudian slip I am sure in your use of the word "cease" instead of "seize" but absolutely true!!!
The share that goes down when the only trades seemingly are buys…….
Exactly that!!!!!!
Current SP certainly making the dividend yield look very attractive….
20% down in a couple of weeks or so SINCE xd - IMO clear over reaction to macro economic situation - expect trading update in July to remain positive.
That’s desperate - 2 years old…..
Haha if the actions of Ella (and the numerous other names that it posts under) weren't so pathetic for, presumably, an adult, they would be immensely funny with their warped attempts at concern/need for "clarification" of "issues" relating to ARCM. This most recent incarnation (OutofLuck) is the best for a while......!!
All genuine holders should not waste their time in responding directly to any of these sad cases purporting to be "considering their investment decision" - simply starve them of the attention they so obviously crave.
Bluebelly - your final sentence "Having said that, people buying in now will probably multibag with the current SP."
Very interested to know what leads you to this conclusion - to my knowledge there has been no news of any progress whatsoever on Accustem for many months?
Tildo you might not be missing anything but you are making what could be considered wild assumptions regarding the criteria for awarding the shares - as noted previously, whilst we all hope said targets will represent excellent value growth for ALL shareholders, unless and until specific details are released it is impossible to make a judgement. Shareholder discontent as evidenced by many posts today could have been avoided by providing clarity on the “targets” - hopefully we will ALL benefit from this situation.