Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I think they are paying for it and we’re free riding…probably a cheeky backhand from Lenigas to fund his friends who might need cash but are scared to raise make a new company to give you cash instead…
SD mentioned he could have results and would publish if NCM take the **** with us. Whilst we are bound by their terms if it becomes unreasonable he has not issues releasing.
He feels they were deliberately delayed following the first bid as there was a noticeable slow down in activity from ncm and ggp.
He does however feel ggp would not benfit right now releasing it’s full value whilst the bid is still ongoing and in its admin stages. With nem recently acquiring ncm books it’s just a waiting game before people start making their chess moves be it ggp, wyloo, ncm or nem
Alarm bells should be ringing hopefully we can get back some of the 3.5m we put into hh off which 2m was a loan with no repayment terms in place
Try sell it all off and use that money to focus on clogau without raising straight away. HH is 2 months away from completion of the water rinjection testing but it’s been so long with so little from the site and doesn’t look like the biggest producer I’d rather we get our money back and focus on ourselves than the drip feed of moeny from it
Financials will release in may if that helps.
My expectations…previously we were funded through to dewatering
We have raised £500,000 since our half year report see RNS Thu, 10th Nov 2022.
Half year report mentions:
At the end of the reporting period, the Group's cash was £2,024,000. Net cash outflows were £1.9m, including £0.94m expenditure on exploration projects and fixed assets in the six months being reported.
However I believe that may be tired with groc finances potentially and some costs of the ipo.
I personally believe we are just short of 1m no lower than 750k in the bank.
It is likely we will need to raise for the underground exploration and bulk sampling tasks post dewatering. It will not be in our intrest to raise at this level and permit should act as a catalyst to allow a better rate.
Company remains debt free and could look at that to finance considering shares in issue are quite high already
Appears over? Hopefully they have reached their target price for shorts closing out and moving long? I can’t imagine they were just day traders they appeared paid ones which means bigger money moves!
Or am I tea leafing..