Member Info for Leo_IX

Judge Judy would've had the whole thing sorted by the first ad break.

One of two on here are confusing 'going private' with delisting from AIM. The latter is happening, the former is only a possibility and hasn't yet been proposed.

Nobody impressed by the RNS?

Are they still 'searching for funding' as you put it? Or are they simply taking all the necessary steps in the right order? From the recent financial report:

"Work continues on securing all permissions required to launch Sea Lion financing, including EIS and licence extension."

The licences expire in November, so presumably nothing can happen until we hear they've been extended.

A sell, surely?

Thought it was a sell at first, but there are several trades before it which were buys at 14p, including mine at 16:14:23 (showing as a sell). And how was I able to buy at 14p when no-one had sold for less? Very odd.

Sold out here nearly two years ago because of missed deadlines from IFB and dwindling cash reserves. It's deja vu all over again...

This bit from today's RNS makes me think it prudent to write off IFB entirely:

IFB has initiated a further change to the specification of the 9kg machine.... This situation has been compounded by the recent announcement of a change in leadership in the Home Appliances Division of IFB.

Interesting numbers Carefree. If this were a cash shell with $200m and a proven management team looking to set up a copper/gold mine in the Philippines you could imagine the share price going a bit crazy at some point even before a suitable acquisition was found. However we're transitioning from the certainty of Runruno's cash flows to the uncertainty of the Abra tenement's potential, so personally I don't think it'll really take off until positive drilling results come through from the new acreage. Happy to hold and wait.

Is Wes Streeting even aware of Feedback I wonder?

The deal is done, what the heck am I supposed to do about it? Wait until we hit the magic number then blow the place up?

Won't be the final time if Runruno production exceeds 204000 Oz. How did he manage to negotiate a production fee? What kind of hold does he have over the BoD? It's starting to look like Stockholm syndrome.

They're not 'offering' to buy Edwards out, he's screwing the company over. Again.

Strange that the two parties to the loan agreement would have different interpretations of it. Did I read some months ago that Candy's reduction of the loan interest rate was dependent on RHL doing the same? No mention of that in the recent RNS but it's hard to imagine the two factions accepting different rates.

Now the bondholders have VDTK's business I wonder who they'll get to run it? Will Rob Richards be continuing the carnage? And would you prefer to be owning the money pit formerly known as VDTK or be a shareholder in EARN, where they'll soon have £1.8m in cash, a pocketful of dreams and some shiny new directors? I know which I'd prefer. Good luck.

Billionaires don't get to be rich by playing nicely and sharing with everybody. The big shareholders became the big lenders when they bought the bank debt (at what discount we'll never know) and have been bleeding the company dry for years even as the gold reserves dwindled. Now that particular debt-based gravy train is about to hit the buffers you have to wonder what their next wheeze will be to keep the money pouring in, because one billion is never enough is it?

A concerted effort is being made to lift the share price which makes me suspicious of an incoming fundraise. Looking at the cash and investments in the year to 30/6/23 you can see a depletion of £13m in investments from £21m to £8m to shore up the cash position. Eight months have passed since then so does anything remain of this reserve? More funds needed before this current financial year is out I suspect.

Not sure what else they can do. Bondholders have loaned the company £100k effective 6 Feb. They already have control and voting down the proposal would collapse the company.

Not sure why the mcap is still £600k. The deal would leave a cash shell with £50k (which will doubtless dribble away in 'admin costs') so either an AIM listing is worth over £500k or a counter offer is expected by some. I hope that white knight shows up but I'm not tempted to take a punt on it.

Liz Truss was in charge?

I don't want to keep flogging this dead horse, but to say the chairman's contract simply wasn't renewed is to put a questionable spin on events. The facts are made plain in the RNS of 18 Sep: RHL forced his resignation at the time of the last AGM. We were given a rare glimpse into the agreement between the two largest holders when it said that if either party votes down an AGM resolution then the other is obliged to do likewise. RHL was about to vote against the chairman's reappointment, forcing MTL Lux to do the same. To avoid this, he resigned.

He was removed. Kicked out. Ejected. Solely because RHL wanted him gone. We may never know exactly why. It's a lot of power for the holder of less than 20% of the shares which they can use once a year, and not just on the chairman.

Goshawk 250

Thanks for the info on the Relationship Agreement. Didn't see your message until I'd posted mine. How long does such an agreement remain in force and under what conditions could it be terminated I wonder?

Not sure if your question about motive is addressed to me but am I looking for a lower entry point? No, not without more information.