Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
With 8 trading days to go until the end of February, which will be 6 months since suspension, what will happen if the accounts are not filed by the deadline? Looking at the AIM rules the listing is cancelled after 6 months suspension, however I think the Company can apply for an extension, is this something anyone is aware of or has experience of? I know that there are still 8 days to go, however its looking most unlikely that outstanding matters will be completed by the deadline...... any thoughts or information from others??
Newuncle, I agree with what you say, and yes we need to see some more funding coming in at a premium in order to raise the current share price. Maybe we should all just relax and possibly take advantage of the low share price and buy more.... I certainly will be if we get somewhere near £1
Couldnt they have done an equity raise through the markets / issue of additional shares? The share price would have dropped to the raise price (depending on what it was set at)but presumably would have recovered upon receipt of the $10 million funding and we wouldnt have the hang over of the CLN. Just my thoughts.....
RS did say that he wasn't concerned with the current share price or the day to day share price. I guess as long as he has funds to pay the bills and keep the machine running, that's good enough for him. He clearly stated that the $20 million is enough for most of 2023 year. The problem will raise its head later in the year when he is trying to convince HNWI to part with money at a premium to what could be 10 to 20 times the share price. In the mean time I expect that the Share Price will drift around at this level and may even drop to sub £1.
C2H50H, the problem being, how do you convince an Investor to buy in at over $11 a share when you have just trashed the share price with a CLN and the market price is now at £1.30?
Greybadger, the RNS of 30th January confirming the £10 million received from UAE Investor says the following:
Richard Shearer, the Chief Executive of the Company says "I'm of course delighted to be in receipt of these funds and the commitment made to Tintra Plc; with the funds received last month, and the further commitment under that contract, we now have a mixed funding stack to see us through most of this year under any circumstances.
RS is saying they now have a mixed funding stack to see Tintra through most of the year, not all of it!!!
Greybadger, I think the burn is more than $10 million a year. RS stated in the last RNS that they were fully funded for the year ahead, I believe he was referring to both the S10 million from the UAE Investor and the $10 million from the Fintech Investor ( I think Tintra have used $3 millon to date)
Without news on the additional $15 million of funding that was supposed to be done by the end of January, I see this dropping further. Its hard to believe that a HNWI would pay 10 times the current market even with warrants.
MEM, whats your thoughts on Boo Hoo? Do you think they will make an offer for REVB? IMO they will, probably quite quickly after relisting, after all, it will never be cheaper than it is now. Im thinking that the highest price they paid must be in the region of 23 to 25p, so little chance of them grabbing it for less. I cant help feeling that the two founding Directors will want to be away from this as soon as possible, bearing in mind what has happened, I expect that Boo Hoo will be talking to them already, and thoughts??
Sharebel, from the rns of Monday 1st Feb.
'Richard Shearer, the Chief Executive of the Company says "I'm of course delighted to be in receipt of these funds and the commitment made to Tintra Plc; with the funds received last month, and the further commitment under that contract, we now have a mixed funding stack to see us through most of this year under any circumstances.'
It would appear that they will not be paying it back, in fact its possible that they will take more should it be needed!
They have absolutely killed this..... and no further news of the additional $15 million due by the end of January......!