Member Info for Offler

@Del,

Valid points re dragline and tax, but I think we have to balance that against PM price falls. It’s been suggested even by the happy clappers that the concentrate revaluation is down to falling prices. Three of our basket of five main PM’s have dropped in price by more than the other two have gone up.

A placing price will be dependent on SP movement post suspension. Before the pump it was around 1.5 on lack of news. Why would you pay more than that on a placing when the same lack of news could push back to 1.5.

With our financial situation I still think 10p is a realistic offer price from a buyer playing hardball. I don’t have a clue what percentage of shareholders would break even or make a profit at that price, or how many would be prepared to write off some of their investment and settle for whatever they could get back.

Isn’t it usually 51% but memory tells me I’ve read somewhere that you can specify a percentage when you first incorporate.

No harm in having differing opinions it is after all a discussion board, PREM there are rumours of another placing, at each placing an increasing number of share holders opt out.

Any placing would just be to keep the lights on a bit longer.

@del929, going to production is somewhat difficult when it’s a loss making activity.

It will sale eventually, but nothing like the prices some quote on here.

@ikn

“ fundraise

- equity sale

Would love to see the marketing strategy for that considering our financial position, even then it’s still one off funding we don’t have a regular income stream.

Imagine the scene,

Junior runs into the office of takeover negotiations company.

“We have had an enquiry from a company in Russia with undetermined assets to sale. They don’t have any forward income, have limited one off future funding have only ever mined at a loss, been for sale for four years, some of their investors want 80p a share, and one nutter is hoping for £20 a share, what do you think boss?

Boss, sticks fingers in ears. “La la la la la I’m not listening”

@Richard, la la la la la I’m not interested.

@ikn,

Do you stick your fingers in your ears and go la la la la I’m not listening. I’m struggling to find any other way of mitigating it.

@ikn,

How do you mitigate shortly running out of money with no forward income stream?

@ikn,

I don’t dispute that it’s in the bods interest to get it sold, but it’s also in a buyers interest to get the lowest possible price. Something that doesn’t get a mention on here.

The bod have said that they are funded to end of Q3, there is concentrate revalued at £3 mil some of which may or may not have been sold. A tax rebate received which extended funding from end of Q1 to end of Q3 maybe more tax rebates to come but we don’t have a forward income stream. We are a company that doesn’t do anything to generate money. Any buyer with a modicum of common sense is going to wait til the bod are about to run out of money and try to cash in.

And let’s give a big EUA welcome to the latest suddenly appeared from nowhere “sale is done about to be done” based on absolutely nothing of substance happy clapper hydro888.

So eight months on from remain in active discussions, nothing to report.

Fr.Jack, the bod have referenced multiple inbound enquiries and interested parties, there has never been a suggestion from the bod that an offer has been received.

@GLG 🤣💻

So to recap todays posts

We might have sold some of the concentrate, some bloke told us that.

The bod have said nothing.

We might be mining, some bloke who by his own admission is more off the spectrum than Captain Black and the Mysterons produced some videos.

The bod have told us nothing, but did previously say no mining activity.

In the meantime the bod have told us they run out of money at the end of Q3 and haven’t updated that.

The £1.52 mil Treasury bonds are gone. No explanation from the bod.

Database is still operating on Windows 95 and desperately needs to do an upgrade.

Trumpkin is behind in the polls.

Have I missed anything.

If everything is so cushty why are we burning cash assets?

@jarv if the bod is in such a comfortable position why did they dispose of the £1.52 mil T Bonds and what happened to that £1.52 Mil?

But his SP predictions on HE1 are as wrong as on here 🤣🤣🤣

Strictly a one off comment Spikey.

There is actually something seriously wrong with you Richard. For your own sake get help.

🤣 what a perfect description.

My view, the assets are not worth the suggested values, and the bod are generally incompetent