Member Info for Maffa

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Dreamland IMO - be lucky at best if current shareholders retain max 25% of the company. Likely to be nearer 15%. Mine will get built best case current shareholders retain 25% ownership. Be likely much less unless more than one party are interested.
Retain 15%-25% - approx 250 million market cap. atm. Move up to 2.5 times share price from here is realistic IMO.

Agree - very much doubt any GOVT support or guarantee.

'My view is that we'll lose half of the company, but gain funding....

That would mean a 20p share price....'

Dreamland IMO - be lucky at best if current shareholders retain max 25% of the company. Likely to be nearer 15%. Mine will get built best case current shareholders retain 25% ownership. Be likely much less unless more than one party are interested.

think around 70 million dollars debt and 7 bn shares in issue - not a high percentage in the free float hence SP epic rise

Agree - and that is certainly what the market thinks. Current ORDS will be lucky to get a tiny percentage of the new company if something actually transpires - facts/figures concrete proposal - otherwise Admin. I do think current shareholders will retain a small percentage of the ownership. STY was a good example. That share did rocket and multi bag.

illbetabuck - keep posting - not one post of yours that I have read - any sensible - 'rose tinted off' person could in all honesty disagree with. If various posters over the last couple of years were welcomed debating SXX rather than filtering, shunning and being given grief and aggravation then perhaps more SH would not be in the mess and massive losses that they have now. Always need a balanced board. GL

Following this with no position myself (but a Loiner) - have to state and go through my history illbetabuck postings- realistically are spot on and rose tinted off - have to agree with his postings. Been able to just sell small amounts but buy copious amounts is always a bad sign. GL. Know many have life changing amounts in here and massive paper losses. Always need a balanced view, otherwise it is just a happy clappers forum. Remember in the height of the 2008 crisis some person on the Bank board stated 50p Barclays - 20p Lloyds and 10p RBS - the guesstimate was spot on as it turned out. Holders did not want to acknowledge what can and did actually happen.......got abuse and didn't post much after.

No didnt meet at last agm, took a few months and then it clicked with you living up that way that you were the mainstay/stalwart on that board too pretty much knowing about as much as any PI could. Got out of that with slight profit when Myriad rocketed to 5 / 5.5 swiss francs. A few years in the doldrums on that one. Got taken private and lowest was around 25 cents in the end just before that. Just shows what can happen, since selling put the money in property and never looked back. May have the odd trade now and again. Genuinely hope it works out for the PIs on this - mine will get built as for ownership the loyal very high % PI ownership should be rewarded. GL all.

Perhaps just in double figures is fair at this juncture. Perhaps I think buying into the BH weekend moved this upwards. But it is only on definitive news which could be massive movement either way. Without the bonds this is likely to be as far as ords go..... Well perhaps not far off finished. With them - depends on the coupon rate 13-15 percent. Less coupon rate the more move up, however with respect and I know many are in.... Virtually all in some are. Talk of soon in the late 20's - 30's is unlikely tbh, and talk of dividend in a few years time.... Well I would be amazed. Many hurdles to overcome on these projects - it just may work out..... Not in and hope it does. A Yorkshireman myself - Loiner - I am following this. Myo - could be wrong - perhaps are but were you a shareholder in Sync at one time a good few years ago? Seem to remember the name or something very similar from your neck of the woods? Massive skin in the game from CF at least

Large sells - is MP selling down / out

Has to be likely here imo - 1 share for 100 perhaps. Taking a couple of 00's off the total shares in circulation.

In the FTSE 250 not AIM so may not go as low as 12 pence. Think though 13 ish may be possible.

'my main concern here is that if the bonds were not all sold by September and Gina took the company, then Fraser, an Australian, might end up sitting pretty with a position on the Hancock board or something, leaving us to wonder if the whole thing had been planned. Is there any possibility of this development?'

That is the concern if I held the stock - have commented of recent times and unfortunately for LTH I was correct a poor deal but perhaps the only deal...but do note as most have that is is not fully funded to completion. Invariably LTH lose out ...time and again. Is it a buy at this level - likely tbh. There are obstacles in the way certainly and not just building the mine and all beyond PI's control and influence.

For what it is worth I agree Capital are forward selling at this level that does make sense. They will be far more informed than any PIs combined. PI's are always the last to know only when the news/deal is in the public domain - always up against and behind the 8 ball IMO time and again.

The best Share boards always need a balance of views - regardless of agenda. This could be a cracking investment 100 year mine etc etc. Funding RNS due end of the month it could be massive dilution wiping out for years PI long term holders. Or CF pulling off the deal of a lifetime. Or anywhere in between. Stage 1 shafted and polorised many LT holders - viewing the board many pretty much all in and many underwater. Dont hold but I do think the mine will be built but huge finance needed. Stated before and even more of a concern if I held FTSE 250 and vast majority PI based ownership. Institution selling down and the largest before the news I personaly if held wouldnt be topping up at this level and would have reserves in place to invest to avoid dilution. One thing in its favour is CF does have serious skin in the game. Interesting - any investor IMO wouldnt be all in on any share with an impending fundraising RNS of imperative importence. GL

This stock as no doubt many are. The finance for stage 2 is a epic undertaking of that there is no doubt. If this is pulled off with minimal dilution it will be amazing to achieve just that. I am shocked with funds buying in the FTSE 250 how small amount is actually Institutionally owned of a projected 100 year mine that will be built I am sure. A very loyal and massive PI ownership. RNS today unless sold off book to another Institution is however way you view it IMO a red flag. With a project of this undertaking you need Institutional Investors on board and ideally the majority of the company just that Institutional owned and prepared and wanting to finance in part at least stage 2. A placing or rights issue is likely to be part of it but to underwrite it - at what level? I personally will be out until stage 2 details are in the public domain like a number of posters - some holding with funds available and some holding thinking it will move up significantly with good news on dilution and clarification. Interesting few weeks ahead.

That can be the case in time - and perhaps just maybe the pre packed laws could change on the back of this. Regional press touches the lifes of all - less so than it did but certainly geographical uk coverage. Hence the HoC debate this week. F. Field is one of the very few politicans I do hold in high regard. This is wrong and unjust - many believe that - it is just that - can this and will this change things? Likely not but why not?.. just how things are and roll with it - seems how it is. Have stated before how many of these end well for ords - very rare - and proved again. This my employer man and boy for circa 20 years.....big part of my life - although not invested and lost - really hoped this could be the exception.

Some form of balloon payment to PPF from Bondholders consortium as it is a going concern under a new name ffs. Secured future - going concern and sweet FA for ords, balloon payment will not improve pensioners monies just go into the fund for all - government backed .....and I think thats it. Like to be proven wrong - it really is legal robbery for ords. BoD in league with bondholders as - for many years....didnt Custos want to have the opportunity to refinance - stated numerous times in the press. Were the bond due at the end of the year hence this? No June next year.......go figure

New company a going concern that is likely to be profitable hence the angst in the HOC this week and rightly so. Usually as I understand it a ballon payment in addition is what is usual as new company on a firm footing. I think the Bondholders will have to make a ballon payment to the PPF - cannot envisage how they can justify getting out of it tbh. Watch this space - as for ords think it is finished, Custos with over a quarter of equity putting up this website. Agree with sentiment but why did you not walk the walk. Not possible I guess despite the bluster and going on record many times at the distane for the current board.

I agree with your posts the board were self serving and milked it dry - there was value here - equity was small change but the poison pill and for years happy to go along with the Bondholders - they had the power. Custos and certainly CA with a real proven track record couldnt break the tie. If you follow the full story it is really bizzare - AK and Custos Both billionaires the latter on paper lost many tens of millions. When CA and then Custos came along still couldnt oust the board - AH left with package and many millions for abject failure - now new company pre pack - pension likely in the hands of the PPF - marked down the deficit at around 40 million - reports that PPF which is what they do and understandable is 305 million do even remember the RNS getting the pension down to manageable levels. Bondholders and board win this - Did state when CA got involved - JPR board are something else and protected - poison pill et al. But are self serving before the poison pill was in the public domain. Agree with Custos but an action group? Fighting against the bondholders consortium - CA and Custos couldnt even work together at that juncture it was IMO a lost cause. Although only conjecture.

fair enough the website and hope for stakeholders and pensioners down line something can be done about what I agree is corporate theft. I do agree with Custos all the way down the line since surfacing - but amazed the Billionaire tbh would do this that overtly. Though he would have more clout than this - and the first sniff of a pre-packed deal marching in and that is obviously not the case. Perhaps if not for the poison pill clause that he found our after investing - due diligence.

If it does go to the PPF which seems highly likely I understand that 90 percent of the pension is guaranteed for those like myself where the pension is frozen - so a 10 percent haircut. Doesnt go up to protect against inflation like it did was 3 percent in 2011 in my case as I understand. That as I understand is the level of protection. If you are in receipt of your pension you continue to get 100 percent. F. Field is totally correct IMO with his comments on this in the House of Commons. The whole thing actually is a total disgrace for shareholders and pensioners alike. The latter has at least the PPF hopefully - ords get nothing - legal theft. Maybe the PPF will insist on a balloon payment as the new company is on a firm financial footing? Interesting and devastating in equal measure as to how this does play out. GL all those who are adversely affected by this.