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I think our friend here is trying to explain the current price action by alluding to the fact that he believes a placing is coming to finance the US and Spain exploration projects
whilst this is a possibility, there was a recent interview conducted by Stockbox. And the COO of TM1 and he confined they had sufficient cash reserves to fulfill the exploration plans for 2022.
He also reiterated that the company was in discussion with a number of majors with view to JV and farm out the projects at the feasibility and mining stages.
In addition, there is also the imminent opening of the first recycling plants which will be immediate revenue making and cash generative from the get go and these funds can further supplement any further exploration licenses if required.
So based on this, I personally do not believe a placing is imminent or required at this stage to raise funds, but if it does come to pass then this won’t look great at all on the BOD regarding their integrity in what they have been saying in recent public interviews.
I’m still hopeful for some news news confirming the recycling plants becoming operational some time this month, but this decision is still largely out of their hands and rests with external agencies, so we will have to wait and see
Very quiet on here….
Anyone expecting these recycling plants to become operational this month?
Interviews back in May intimated plants should be operational by July and were not reliant upon obtaining ISO certifications as pre-requisite beforehand .
do we reckon this is still the case or are we still few weeks / mths away due to other factors eg obtaining sub licenses?
No CEO…..useless.
Question.
Although this officially went into administration, the entire debt was paid off and the entire company was kept intact including the pension fund and therefore for me it’s still trading as a going concern, albeit now owned by a PE firm and now debt free. this means it never actually liquidated in true sense of word
Morrisons Owners have also stated it will keep Morrisons and McColls brands separate for time being and allow existing mgmt to run it.
So , In theory, is it not still possible this could relist? And maybe the new owners cud add a big chunk of shares to the float to make them majority shareholders and sp and mcap gets rebased? This wud give them an option to recover their outlay if and when the sp shud grow.
This wud obviously heavilty dilute shareholders in the short term, but still give SH an option and a fight chance to recover some of their losses.
It is blue sky thinking, but just asking if this is theoretically at least still possible to relist under the circumstances
Cud be one way to claw back the upfront debt payments they made if the business recovers back to profit making and the sp goes back up.
Presumably Morrisons themselves would have been one of largest unsecured creditors.as a supplier, then contractors developinging the new outlets then HMRC perhaps
So what Morrison pay themselves from their own kitty?
If the banks are classed as secured lenders who are classed as unsecured creditors here?
Wasn’t this supposed to be cancelled an delisted yesterday as per Fri pm RNS?
A new CEO wud def bring renewed confidence to the mkt
A CEO represents leadership, drive and strategic vision
But taking so long to,fill this position cud maybe mean they have depriotised the search looking for a buyout instead.
Or they simply cannot find a suitable candidate or someone who wants the role. This wud be a concern after a 12mth search
They need to provide more transparency here imo what the deal is here
Does it take to hire a new CEO.
It’s been almost a year since former CEO announced her resignation and she gave 6 mths notice and co. have now been without a CEO for coming up to 6 mths.
Where’s the focus and drive coming from right now?
So poor
The time gap between results updates are quite frankly ridiculous for a small cap.
To take a full 5mths before posting final year end results is too slow for what is currently a simple business model
We cant even get a Q1 trading update before then presumably, so sp has plenty of time to,drift between updates
Needs reviewing imo
RDGC now appearing on their website.
No trade price set as yet.
Expecting an announcement tomoz.
Will be luck if we can trade in for more than 0.25
TP- I think ur last question around new products and future revenues is reason why sp is where it is.
Fundamentally revenues and cash reserves are very sound, and there still shud be some half decent revenues generated for Q1 from covid tests. But no one as yet knows for sure what, when and how many different new products are being launched and what deals are being lined up to estimate future potential
Must admit tho, timing of CFO departure after such a relative short stint and with next phase of revenue strategy coming in does look odd
Gordon, with all due respect.
If you look at O&G sector in small caps, producers and explorers are pretty much all up this week, simply cos of surge in oil which is now are hovering at ATHs and likely to climb further.
Sentiment alone of prices of oil shud have been enough to bring this back to low 20s.
Something must be wrong now.
You can’t have oil price go up 60% in less than mth and have an oil stock sentiment go down, with out an underlying issue somewhere.
cEO unwilling to do an interview last month when approached when supposedly more news is due is a tell tale sign there are some challenges somewhere that need resolving.
Novum I reckon are probably also aware hence the manipulation and control of sp.
Something needs to give as silence is unhealthy when the primary commodity has so much stength, but not being g reflected in mkt valuation of this company