Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
With today's announcement and what has went before I'm wondering is this tied to the delay in the TEO.
On the 27th of October last year we became aware the NRR deal was not quite what it seemed. Subsequently in November we were notified the TEO was being delayed and at the start of Decemebr Adam was removed from the board.
The explanation for the delay of the TEO was spurious in my eyes. Could the real reason have been around the legal matters we were told they were discussing with solicitors.
What if it became apparent hostile manoeuvres were being made for the company and the only way to put these off was to withhold the TEO and risk the licence being revoked?
Now things seem to be moving and with the recent JORC I expect the TEO to be submitted anytime and well before the December deadline
You need to take off the rose tinted glasses.
The evidence for it going pear shaped is quite clear. We bought an income producing asset which was supposed to pay us CLNs for three year at the end of which we got back our original investment or converted it into 13% of the company.
To sell it now after less than a year indicates to anyone with the slightest intellect that the investment did not play out as hope, ergo, pear shaped.
I think the silence has been due to legal issues in the background and AMC being told to keep quiet whilst it was getting resolved.
Whatever happened, the NRR deal has gone massively pear shaped in some way. We were diluted on the basis of finding income producing assets. Now that asset is gone what was the point of the dilution.
On the bright side we have funds now to cover us a couple of years and it is likely something will happen within that time frame.
Another point to note is that the TEO is mandatory. Failure to complete it could result in the licence being taken away, therefore no one is going to make a move whilst this is the case.
If we see things speeding up and TEO being submitted it could indicate things moving significantly in the background
Yes, I believe this was the last study needed for inclusion in the TEO. It could never have been completed without the issuance of this so I agree that it mustn't be far away.
They have delayed the release of the JORC long enough so could easily have delayed it longer if they wanted to.
Exciting times and maybe a period of more regular news flow coming up
I have never been invested in a company before that paid a special dividend so not sure how this will play out.
I think some of the figures being talked about here are quite astronomical, but let's say a special dividend of £1.00 ps was paid out.
Theoretically is it not possible to hold the shares to get the dividend and the day before the ex dividend date open a separate short as the price will fall by the dividend amount?
As I say, pardon my ignorance on this if completely wrong.