Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I suspect they had to raise to pay for their 50% equity position in Wudinna. Fully diluted, including the 100m warrants and placing shares, I make a 50% equity position, worth just over 6p per share per 1million Oz. So if my assumption is correct why would they take up their equity position at a cost of circa £1m if there is no upside? And why were those that took up the placing happy to pay 2.25p per share yesterday for a share they could’ve been buying for significantly less only a week or so ago? Presumably they, for some reason, think the shares are now worth significantly more now...I wonder what that reason could be? (hint, hint). Add to this the two recent director appointments and it’s fairly easy to join the dots in my view.
Assuming the results came back from the lab by last Tuesday it’s fair to assume those results will be RNS’d within 10-14 days so I’d imagine we’ll get some news next week, quite possibly prior to Craig’s interview, allowing him to discuss them.
Good luck and as always DYOR.
It would be very odd appointing two new directors last week if the news was bad don't you think.!? Interesting that they specifically mention David Clarke's experience 'in the discovery, development and production of the million ounce Tuckabianna gold mine in Western Australia' (hint, hint).
I'm sure it will become (even more) apparent what they'll be using the funds raised for at some point next week.
Good luck and as always DYOR .
RNS of 7th April says - ' Results are currently expected within 2 to 4 weeks....'
4 weeks was yesterday, so an RNS should be imminent, supported by the fact that the CEO is being interviewed next week where he'll presumably be discussing the results, next steps etc. Unlikely he'd agree to an interview if the results weren't positive.
Craig speculates 'several million ounces' and Andromeda (JV partners) mention around a 'million ounces'. If either of these estimates turn out to be true then it's fair to assume that we are significantly undervalued, even when factoring in the 100m warrants @ 3p.
Should be an interesting few days!
Good luck and DYOR.
Hard to imagine that the results won't be good given the 2 new appointments plus the fact that Craig has agreed to be interviewed this week. The PR department are giving us slightly more subtle hints that Topi...but only marginally!
Interview by StockBox...posted about 5 hours ago.
https://twitter.com/StockBoxMedia
Good luck and DYOR.
Taken from the RNS dated 7th April - 4 weeks is tomorrow, hence why news is expected then.
'Results are currently expected within 2 to 4 weeks as to date the processing of samples at the ALS laboratories have been largely unaffected by the COVID-19 outbreak.'
Good luck and DYOR.
‘His experience and insights make him ideally suited to support our investor relations programme and goals. He will play an instrumental role in forming and implementing our IR strategy as we plan to start Phase 3 trials with first-in-class product candidate, ensifentrine, in 2020.”
Not sure why you’d plan to start a Phase 3 trial if the Phase 2b results weren’t positive...phase 2b trial was completed on 16th December so results should be RNS’d imminently.
Worth a watch..from 9th Dec 2019.
https://www.edisongroup.com/edison-tv/executive-interview-verona-pharma-at-ekf-2019/
Phase 2b results imminent.
Closed nearly 20% up on TSX so would hope we’ll see a good rise here tomorrow. Getting interesting.
Just saw that...listed on SEDI. He was happy to pay $2.4 CAD just over 6 months ago so not surprised he's taken another 100k at $0.52 CAD. Hopefully should start moving up tomorrow.
https://www.sedi.ca/sedi/SVTItdSelectInsider?locale=en_CA
https://twitter.com/kushmanspicks/status/1206386491385171968
Seems like a fair summary...but as always DYOR.
Definitely a buy. I also bought circa 55k shares this morning in 2 tranches (18,048 and 36,529).
No brainer at this level.
The value of our assets, quoted at $615m in the interims, has now been validated by the court as they wouldn’t have agreed the JPL otherwise. So the question I’m asking myself is what market cap should I attribute the company? Add into this the fact that post restructuring we’ll have significant free cash flow, be debt free and have a proprietary process/technology which is both in demand and can be replicated in other territories (India, South Africa and the UK have been mentioned) and I think we could be talking several £’s. Can understand why investors were paying circa £4+ on IPO. Remember this is not some tinpot little AIM company and our Chairman, as a very wealthy individual (billionaire has been mentioned) and 44% shareholder, will be looking to make himself a return in the hundreds of millions.
Well done to those that held strong and good luck all.
Whilst I’m not great at interpreting balance sheets the interim results published in September suggest net assets of $621m...so if the company was dissolved and all assets were sold (even at a 50% discount) there would still be circa $300m to return to shareholder...so roughly $2 per share.
That’s my understanding anyway but DYOR. Good luck.