Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The way I see it: they put down the guidance in August and they knew was going to be lower, that's why they raised capital (operations cash, not WC, *imho*, that's why I tend to think, seeing the facts, and not words).
The $1.2M delay could be Tarana? They said in May (I think) that they had secured inventories for tarana... Otherwise the numbers don't match to me. The other 2M$ delay? Is lost business? No clue at the PR
As I said in the past many supplier de-commit.
5G no word, as I said, Silicom in the CC said they were seeing delays...
It does not appear to me that 2022 will be cash flow positive.
The real issue will be if they are unable to get the warrants exercised.
Finally, this update reported with the market open is not the way. A lot needs to be improved here to attract the funds.
give a shout and happy to explain :)
but you guys are outstanding, I hope this runs a lot.
Dallo
I have doubts. I cannot comment here a lot but hopefully you guys will make lots of money!
Good luck!
dallo
the winners are never pessimistic :)
No, dallo.
I was referring to your forecast. I hope you have a good risk management here, you have a huge amount. I hope you are doing well too.
dallo...
no, skid, inmho this is a huge miss. very disappointed.
again..
uhlf.
I am sorry didn't source the message but you never know if you can say "this is from the CFO" in a board like this one, despite that I was asked to do so. It is much better to provide enough clarity for "stupid" people in the RNS, to avoid issues like this one, and dramas.
I think lots of us are unfortunately not experts in all the laws, regulations, tech, financials that enet is involved in. Still, they are alive thanks to our and other's investors money. Unfortunately I am not a superman like others, my background is in science not law and my job is more science/art than law. Probably today's RNS was clear if you know a lot about the regulation, but many of us don't. And you saw the market reaction. That's why we asked them and I think that their duty is to reply accordingly, mantaining the good shape. IR is very important if the company doesn't want to fuerther increase cost of equity. Enet's cost of equity is too high already, or ask Mr. Levi. He felt very good the higher dilution due to the low placing prices.
Unfortunately I am tired of personal drama so I will give an step back from this chat until further notice. Good luck.
I am asked to post this here.
A disapplication process allows the directors to issue shares without bringing each and every share issue to the Shareholders in a general meeting for approval. If you go back to the EGM of this year, we did the general disapplication there, which allows for issue of shares – this is a common practice in LSE companies.
That disapplication at the AGM in August 2021 which passed 100% vote, allowed for the issue of some 27,669,560 shares which were obviously in anticipation of settlement shares to the end of the 5G Fund agreement as well as for fund raising. Since that date to now, the following has been issued (if you follow the announcements and the maths):
A. On the fundraising 12,000.001 plus 1,149,942 shares (to PI’s) being a total of 13,149,943 shares (see RNS announcements of 27 and 29 September and do the maths) – attached to this are warrants for a further 13,149,943 shares that will be exercised anytime by warrant holders once the price moves past 60p
B. On 11 October 2021 the estate of a deceased employee (of 14 year service) exercised the options due to said employee of 480,000 shares (or do shareholders expect that employees forego their options???)
C. On 19 October an allotment to the 5G fund of 1,307,190 shares
D. On 3 November an allotment to 5G fund of 2,433,007 shares
A to D above excluding the warrants comes to 17,370,140 shares from the disapplication approval from the AGM of 27,669,560 shares leaving an available approval to issue shares of 10,299,420 shares
Now what do we still need that is derived from the announcements?
For the anticipated warrants exercises 13,149,943 shares
For the allotment due on 29 November that satisfies and closes the 5G Fund in total as stated 2,642,472 shares
Total required is thus 15,792,415 shares
Now if you do the math, you will see we are short of authorities for 5,492,995 shares that HAVE TO BE ISSUED – not a fundraising but to satisfy past funds raised.
So what is today’s announcement about? Firstly a disapplication is made based on the number of shares in issue at the time of the notice, this being as of yesterday 72,709,266 shares. Secondly, instead of adding additional to the remaining balance of the AGM disapplication, we CANCEL AND NEGATE the available shares as calculated above of 10,299,420 shares removing all permissions and do a NEW updated disapplication of 20m shares. Therefore we will have 20m shares to satisfy 15,792,415 shares that have to be issued between now and the time warrants are issued.
This leaves shares not earmarked for issue of about 4.2m shares. That is not exactly a significant amount of shares for any company to have available should it require and certainly not enough for a fundraising event of any materiality.
Dallo is ur time to come back!
Dish -15%
bid
According to silicom 2022 is going to be worse
check min 15
https://streams.eventcdn.net/napatech/q3_2021/
I don't care about the chart. The chart was broken many times and still back to 55p
I think the stock should consolidate at this level a few days or weeks and then hopefully more news.
I am working on an updated version of my model but I need another RNS for Tarana or similar
that's not enough. Both stocks will rise for sure.
yes time Will tell.
I am starting to believe that David was right. And I didn't like when he told me.
If I had to elect I would prefer the success for enet...
yes tracy Silicom has many many problems with shortages, other companies like Rada or Napatech said that it was not that dramatic for them.
Still we need to know about enet, but it is good to see they did'nt speak about that recently.
I don't understand why it is affecting silicom that big and for other peers or similar companies not that dramatic...
haha maybe he has a new account!