PYX Resources: Achieving volume and diversification milestones. Watch the video here.
There's only a legal requirement for annual and 6 monthly results. Quarterly or monthly updates are at the discretion of the company. some do it, some don't but there's no requirement for it and not doing it wouldn't result in suspension. Admittedly NASDAQ rules may be different but breaching a NASDAQ rule wouldn't cause a suspension on LSE
Agreed. They already have four projects they lack the competence to progress. I can't see the market being too excited about them adding a fifth
lol, I should read RNSs before posting. The AGM has already been announced and as predicted it's the least consequential of NEDS (Ewan Ainsworth) that is up for re-election
Easier said than done I'm afraid. The results have just been published so I assume there will be an AGM soon. Normally a certain percentage of the directors need to put themselves up for re-election at each AGM (usually a third of the total). As we have 4 directors, they normally round down so just 1 director is put up for reflection each time. When the shareholders are revolting its normally a sacrificial NED they put up rather than the Execs. JP or SK might have the stones to put themselves up this time but i doubt it
The other way is if a certain percentage of the shareholding (usually 5%) agree then they can demand a GM and set whatever resolutions they like. This is a lot harder than it sounds as most people hold their shares via a broker (e.g. Hargreaves Lansdowne) and don't hold the shares themselves. In that case it's the broker that needs to make the request and depending on the broker that can be very difficult to do.
Then, even if you do get the GM you need a few of the TR1 investors onboard to have any chance of success and even then, it's not guaranteed. Align tried it recently with Ironveld and fell on their ass
Finally, even if you are successful, what then? If JP and SK are removed the company is effectively decapitated. There is no second tier of management to step up to the plate. Corcel only has 5 employees, so you are left with two NEDs and a secretary who might not be too keen to actually start working for their money.
A number of investors tried this recently with Echo (another JP company ironically) and these are the issues they had
mcfcnige. What the mines are worth on paper is immaterial if the board lacks the skills to bring it into production. The market will have looked at the boards' track record rather than what they claim they are going to do. If you look at their past, both SK and JP have may years of failure behind them (look at the other companies they have been involved with).
The market will have considered the probability they will continue as before against the chance of them suddenly delivering after years of failure and priced the share accordingly
With most AIM listed juniors their only asset (or liability) is their directors, as the only other thing they have is a bit of paper that says they have the mining rights and a PowerPoint presentation. It takes good quality directors to go from the bit of paper to production
Unfortunately, we're fresh out of assets in that area and the market has reacted accordingly
"Wish that the likes of StockBox Media etc would ask them direct questions about as much when they interview them."
Don't hold your breath. These "interviews" from the likes of Mark Fairbairn and Alan Green et al are nothing more than paid advertising. Wouldn't expect any tough questions
Motions for the GM
https://www.corcelplc.com/wp-content/uploads/2022/07/2022.07.27_CRCL_GM_NOM_WEB.pdf
They are. But usually they mention it in the RNS as it gives a bit of confidence. But even if they didn't they would need to issue a separate director deals RNS. As we've not seen either then they probably didn't take part
Little wonder. Who's going to take the broker options when you can buy cheaper on the open market
AIM is the main one. Think they're listed on AQSE as well but I'm not sure what if any volume gets traded there. Don't use it myself
Any platform that allows you to trade LSE:AIM listed shares. If you want to take part in share placing gs you would need an account with Corcels corporate broker (WH Ireland I think)
The Sc asset does have some value but I'm still not sure that it would be worth it. Although Echo refuse to acknowledge it Interoil have been very upfront about the fact that production has been declining due to natural depletion. My gut feeling about the reason for the change is that Echo wanted to do a fundraise that the current broker doesn't want to touch with a bargepole so they've found someone more accommodating
Ditto, As Avonmouth has fallen though, there's no revenue going to be coming in anytime soon and the trough isn't going to fill itself. Id imagine there's a placing coming sometime soon so I'll maybe top up after that. My bigger concern is that even after the mining licence is granted, there will still be deals that need to be done, agreements put in place and contracts to be signed before Corcel will see a penny from Mambare (knowing Corcel they wont have gotten permission from the landowner yet). And as SK has proved yet again, doing deals isn't really his thing
Wow you've been trolling a company you're not invested in for 6 years. That's dedication for you.. but also very sad