Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Likewise Newbie, I will be watching this closely for the next couple of weeks. I am hoping that something positive does happen with the share price, so I can hopefully get out of this debacle relatively unscathed.
My initial comment was more of a rebuttal to your pleasure in the result of the judgement and that fact that market, through the lack of share action, was obviously not as impressed.
So I am wondering which way the share price will go after the AGM and if we will have a new Chairman!!
IMO, I doubt Rocco could do a worse job than Rolf, given that all we have had in the last year is update after update about the "potential" in the projects invested in and the share price has gone from the high 50's to the mid teens!!!!!
In the mean time, Rolf has been playing silly buggers with Rocco/BritNRG and having a dick waving competition that will only profit the lawyers!!
Oh and Rolf has paid himself a handsome £280,000 in the past year, whilst taking out a £200,000 corporate loan to cover the legal costs, dick waving at Rocco, at eye watering interest rate somewhat akin to a payday loan, beggars belief.
An interesting read, maybe CLT could tweet Musk directly ??
https://www.reuters.com/article/mining-tesla-nickel-lithium-analysis/analysis-musks-tweets-fuel-mining-industrys-hopes-of-a-buyout-by-tesla-idUSKCN2MB1JL
Indeed, it does seem somewhat curious that anybody would be selling after such a short time and at a loss, maybe they have places where they think their money could be better utilised.
Me I'm staying put for the longer term as I feel this could do rather well.
Ref statement from Brit, it looks like defence will be filed and we can get a copy.
I am in Holborn next week so will pop in a get a copy for ****s and giggles.
Talking of potential ****, we also get MNRG 2021 financial report in few weeks (before 30th April) where Rolf will need to say whether (or not) they are a going concern.
They will need to include the costs/likelihood of this 1m action, the dodgy loan note, their 1m+ debts and the fact that they can only issue shares to settle the loan note and perhaps a couple of hundred K (from who?) without another (disaster) prospectus.
A complete mess Rolf.
Well as reported by the BBC, Corona is rearing it's ugly head again in China, so they are locking down!
Me thinks there could be more supply issues this year!!!
https://www.bbc.co.uk/news/world-asia-china-60703301
The loan note is available on the website - Does not look good.
https://metalnrg.com/investors/shareholder-documents/download?path=MNRG%2BCLN%2BMNRG%2B-%2Bexecution%2Bversion%2B20th%2BJanuary%2B2022_for%2Bwebsite.pdf
Latest £200k CLN on website with terms as follows:
Flex-maturity date (at discretion of note holder) with 6 month backstop if there is no issue of MNRG shares (fundraise, etc) or available headroom.
First right to headroom.
10% interest for 6 months and £20k fee.
Secured by EQT for any residual cash redemption at maturity date
Conversion at 20% discount to next share issue price that MNRG would not be able to use for fundraising when conversion occurs for all the c230m share headroom (May).
100% 2 year warrants at next share issue price
Can apparently block the issue of any shares in connection with £331,700 outstanding to Riverfort (not sure how this works).
This stunning CLN provides for up to c460m shares (c40%) over 2 years, plus cash redemption on any unconverted loan notes (for any strike price less than c0.1p) that would likely pay for the warrants when new headroom becomes available.
The loan note is available on the website - Does not look good.
https://metalnrg.com/investors/shareholder-documents/download?path=MNRG%2BCLN%2BMNRG%2B-%2Bexecution%2Bversion%2B20th%2BJanuary%2B2022_for%2Bwebsite.pdf
Latest £200k CLN on website with terms as follows:
Flex-maturity date (at discretion of note holder) with 6 month backstop if there is no issue of MNRG shares (fundraise, etc) or available headroom.
First right to headroom.
10% interest for 6 months and £20k fee.
Secured by EQT for any residual cash redemption at maturity date
Conversion at 20% discount to next share issue price that MNRG would not be able to use for fundraising when conversion occurs for all the c230m share headroom (May).
100% 2 year warrants at next share issue price
Can apparently block the issue of any shares in connection with £331,700 outstanding to Riverfort (not sure how this works).
This stunning CLN provides for up to c460m shares (c40%) over 2 years, plus cash redemption on any unconverted loan notes (for any strike price less than c0.1p) that would likely pay for the warrants when new headroom becomes available.
Indeed can Rolf afford it! Could be tied up for months and Ouch those legal fees but we'll have to wait and see.
As I've said in a previous post, "in need another fundraiser" otherwise, I feel, he's not going to be able to pay himself this year!
I'm not convinced this is going to recover and given Rolf's interview, again explaining everything that is in the pipeline, I have a feeling they'll need to raise more cash this year. I could be wrong, just my gut feeling.
My Lord, 50p would be outstanding but me thinks a 357x is rather unlikely!
Would be delighted if it got to half a pence, which is still a rise of 3.57x
Totally agree - unimpressively childish
As a previous investor and looking at the share price now, my heart is saying buy but my head is cautious.
There has been no good news of recent and I have to say I'm a little concerned that things could get worse.
Is there any good news on the horizon?