Member Info for KiJaHu

Do we have any credible theories as to why they haven't? I've not checked this share in months and unsurprised to see it still in suspension, but my understanding is that Sidara had done months of DD last year, and they've had access to the Deloitte accounts early prior to sign off, is this an issue with them and wood negotiating with lenders? They want the business, what's the issue?

Do we have any credible theories as to why they haven't? I've not checked this share in months and unsurprised to see it still in suspension, but my understanding is that Sidara had done months of DD last year, and they've had access to the Deloitte accounts early prior to sign off, is this an issue with them and wood negotiating with lenders? They want the business, what's the issue?

F*ck me you are this dim. Read the update on possible offer, debt modification and Sidara investment a) & b) , the liquidity injection sits on equal footing with revolving credit facility and loans and requires the agreement of lending parties. What does this sound like Genius? It's a rescue package, I should have sold out at 45p too but thems the breaks, you absolutely don't need any of the conditions you've highlighted for administration to occur either btw, you have absolutely no idea what you're talking about

Waived "temporarily" how are you not getting that? Waived in order for Sidara to launch a bid that involves cash injection, do you realise how bad breaking covenants are in respect to cashflow? Lending and debt is based upon your ability to service those debts, providing false figures is as bad as it gets, I can't honestly believe you're this dim. After the waiver at the end of the month this is getting called in or Sidara is buying it at 35, bankruptcy or buyout, that's it. End f**king of.

No cash crisis? What do you think happens in the event a company breaks covenants on monies owed? The lender calls the entire debt in, this company has until the end of the month to sell up, that is literally their only option to avoid administration, I can't believe you're honestly this dense?

I thought someone had done the sums on all of these forms and came out at under 70% IS ownership?

I said weeks ago that this felt like the Apollo bid of THG, that rose on news of a TO which never materialised and saw a slow (and then catastrophic) slip over the proceeding weeks until they pulled the plug. If Sidara walked away because of the Macros last time they can defo use that excuse now, plus the comp is a basket case. Still invested here, now in the red.

no, they don't. it's a recent thing (just over 12 months) that most hedge funds have opened offices there, you've also jumped at a side comment and ignored the fact this stock is the 4th most heavily shorted stock in the uk and that's after the approach by sidara, by people who don't **** around with these things, hence the comment...to y'know, provoke actual intelligent discussion, which obvs won't be happening here. but yeah, there's not enough info to go on so i agree, it's still mainly a binary bet.

i don't agree that this dragging on is a good thing or that it increases the chances of a takeover, what doesn't sidara know about this business at this point? cancelling bonuses for operational staff is such a massive **** up and i thought this to was designed mainly to retain and keep talent from going elsewhere. it's less likely to happen the longer this goes on for

still shocked at how high the short interest is though and they're not small players, qube are absolutely **** hot at it which worries me, walleye capital have increased to over 1%, incidentally they also have offices in dubai, probably have an ear to the ground.

i think a lot of people (myself included) are taking confidence from the fact that sidara have made a cash approach after the sudden share price drop even after news of the review. why bother coming back a second time?

Agreed on all those points lightnotheat, I'm even a touch more pessimistic about the bid because I believe the average holding prices of the big shareholders won't allow for such a small offer, it would make more sense to have the business do a raise and slice/chop it up and sell off profitable segments to recoup investments.

The more I think about it the less this Sidara approach makes sense, they know the ball park required, it's so far above the current price. I'm still in after watching a near 10% fall today, I think I'm just in now out of morbid curiosity.

bd, i could be pulling that completely out of my a*se as that's just a recollection of the raise last year and what alex said at the last presentation, it sounded like the current drilling campaign (the one we've just had the drill data for a few weeks ago) was funded, anything beyond that isn't, happy to be corrected.

i really don't like these valuations they're attaching, amc consultants values it over 200 million dollars? so why is our mkt cap not closer to someone like ggp? i'm 50% under after doing some averaging down and over-leveraged here to the tits expecting any pos drilling and the price of copper to get me out of the ****.

alex needs to learn to let things go to progress other areas of the business, really frustrating him blowing money on drilling that's not giving any value to the license and driving this further towards insolvency, if he has interest, engage with them and be sensible.

Any ideas what's next here? Alex mentioned this current campaign was funded from the 1p raise, now that support has broken today, do we see a free fall? How will he raise for further drilling with another 3000+ metres apparently required? A massively dilutive raise? The last set of results weren't bad but they need to be exceptional really, we're very much in a bull market for copper going by the 5yr chart, if he doesn't secure a buyer for the Verkhuba license now this is going to zilch.

Any thoughts?

Disagree Targa, you have two companies that have different valuation metrics to the pursuer, both Apollo and Sidara are opportunistic but Wood won't be selling cheaply, the share price is far too low and there's no such thing as a free meal, just sharing a view/opinion, I know there's a lot of over-excited people on here who think they're going to earn multiples of their investment(gamble) but from personal experience that very rarely happens, just annoyed I got greedy when it touched 40 as I was 50% up. Good luck either way

Agreed on the 50/50 but feel it's closer to not happening personally, I purchased shares in THG just before the Apollo T/O bid and the share price movement is identical to this one, no news on bid amount but a weird ramp up and then significant drops to a complete share price destruction back (and below) to pre-takeover levels.

This WILL fall to low 20s if Sidara leaves the table, if the Deloitte review uncovers anything it won't have any support level in the short term. This is a massive risk, I purchased in the mid 20s and definitely see it as a big gamble, very tempted to sell out this morning.

Requires a lot of luck this. No info to make any educated guesses.

It's no opinion, they've increased

.. I thought this was end of month? Not complaining, v small cap so expect leaky news, hopefully not a pump!

That was a good presentation, Alex really does come across as a passionate, driven & knowledgeable bloke, he's also financially got a lot of skin in the game here. Verkhuba is the business essentially, they have the historical drilling and they're confirming these results and the commerical viability to recover what's in the ground, the company has a clear strategy to develop this licence and it's a fully funded campaign. One of things he noted was that large mines nearby may run out of resources in the next few years, leaving a large infrastructure pipeline in place begging for more work. If they can increase recoverables at Verkhuba and develop it further this could be an absolute bargain of share, he is open to partnerships, would love to see BHP back in the picture. This share price can't stay this low for much longer.

That RNS is a bit over my head, so they're saying there is mineralisation outside the existing boundaries they identified for the open mining copper pit last year? Potentially increasing the value of that license and the results for that will be end of the month?

Not sure what to make of the other two, anyone with a degree in geology fancy chipping in..

...117m market cap? Any ideas?

It's absolutely a P&D, as you've mentioned margins are awful, I've had this on my watch list and thought it was way too rich at 3.5p, chess is obviously very popular at the minute and that's why I was keeping an eye on it but financially the mcap is a joke, can see this crashing massively

I can't see waste being mentioned, yield is low, and the doubling is 4 weeks of production in comparison to the previous 5 months which was affected by the lack of working furnaces, feels like a bit of a damage control RNS before what would have been a hostile AGM, hopefully the yield improves and waste declines in line with product increases, that's the real profit making potential