Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I've done most of the same, but I still hold some as we should get a 3% dividend and a very outside chance of a higher bid.
The conversion is only at 0.8 but in the meantime it is a nice 12% interest and I would assume it will always be unless the share price is much higher and it is worth converting.
I still think it is fair though - especially if they can negotiate more acreage.
If one decides that the SCS management-backed offer of £2.70 + 10p is the floor price, then it makes sense to buy-in now at £2.70 with the hope of further upside.
JP Morgan and now Goldman Sachs RNS a small holding.....
Sorry - I meant J.P. Morgan who gave the recent holdings RNS.
Very interesting raggedtp - I am researching those this weekend. Thanks.
I guess all of us SCS holders are thinking where to go next. With most of mine I have decided to stay here until we get the £2.70 + 10p. Morgan Stanley clearly agree, so perhaps there is more to come.....?
I have found the accounts really hard to understand this time around. Losses from adjusted items and impairments and revisions. I can't work it out yet sadly.
But, the market cap. is only £17.5m and they have £10m cash. Growing sales to £280m, over 500 shops and the next dividend of 1.6p is nearly 6%. So I am sticking around.
I have been knocked back trying to trade very small amounts here from time to time.
It isn't generally uncommon - many times I have seen shares with prices falling but you can't buy anything - it's often market maker manipulation to force leveraged stop-loss sales as far as I understand it. Not that that is what is happening here at the moment.
Anyway, I am awaiting the 'Perenco Farm-Out Announcement'.
(fingers crossed. lol)
Short-term headroom yes but they want £200m and where is that going to come from the current £100m? I know UKEF are involved but it all has to add up for them and the commercial lenders. I still think we are heading for an equity raise and possibly an IslandMagee sale.
No ill will here to anyone from me. I personally am just regretful that I invested when I did. I think the company itself will do just fine.
Lol. Will you have "enough going on as it is thank you." when you are asked to pay for a bunch of extra shares at 6p each?!?
I am not some wind-up merchant here - I am down 50% myself and have sadly only recently realised that I made a mistake investing here.
Arun (CFO) said in the RNS:
"our net debt as at the end of FY 2022 stood at £82.51 million (2021: £14.05 million). This highlights the fact that we are under-capitalised and would need to balance our capital stack in due course."
That sounds like more equity to me, and that special resolution implies as much.
Of course I may be wrong.