Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Thing is, Swindells and the other board members own only 0.33% of the DELT shares between them. That's hardly what you might call incentivised, to make this work.
It's all about Other Peoples Money.
So, would they care that much if the equity dilution of this imminent placing is on a truly HE1 scale massive?
By the way, I saw that OF gets a salary of (only) £70k at the outset. I like the cost consciousness of this operation. If he and his team pull this off, they deserve every share option they are awarded.
Hi Tray556.
Thanks for the link and I get that.
I am still puzzled, though, as my mind wants to reconcile the stated 18.42mn warrants with Section 12.13 where the warrants were issued on a 1 for 2 basis on the 24mn Placing and Subscription shares issued.
Anyway, whatever. The full amount exercised will be known in a week's time.
OMG, the perennially depressed LTH is at it again, I see.
Beats me why he is still here, year after year, spouting the same downbeat claptrap.
Better to move on and make some money, if that's what he really believes, before his time endeth.
Just saying....
What is Selene worth to DELT?
Tray556, I don't see where you get your 18.4mn warrants number from. I make it 11.65mn original 10.75p warrants:
The May 2023 rns said,
"The Company has raised gross proceeds of £1,982,000 through a placing and subscription through the issue of 12,449,208 Placing Shares and 10,868,435 Subscription Shares at a price of 8.5 pence per share.
The net proceeds from the Placing and Subscription will be used by the Company to:
· provide funding for the Company to further explore and develop the Nevada Projects; and
· provide the Company with ongoing working capital to support its business operations.
Warrants
Together with every two Placing Shares and every two Subscription Shares, each Placee and Subscriber will also be granted one warrant entitling the holder to subscribe for one further new Ordinary Share at 10.75 pence per Ordinary Share, for a period of 12 months from Admission, and one warrant entitling the holder to subscribe for one further new Ordinary Share at 17 pence per Ordinary Share, for a period of 24 months from Admission. Further details of the warrants are set out in Part VI of the Company's AIM admission document."
I am assuming that CC, as someone not at all interested in the diagnostics side of the business, will put it up for sale asap. But how much for?
Great post, @Keith. Meaty, with a personal opinion attached. Respect.
The scenario depends 100% on the Sandjet testing doing the job intended, with the results confirmatory of the drilling assumptions. Not sure what "cos" factor to apply to that possibility. 90%+?
N2M, with that philosophy of life, you should instead be donating your capital bit by bit to your local homeless person outside your nearest Waitrose/Sainsbury/Morrisons, and see the tangible evidence of your generosity of spirit.
Are you sure you have the correct company?
Out of interest, about this word "troll" so often used by a certain poster to put down others.
Why are they trolls? Just because some posters see the company situation in less than blindingly obvious bullish light? I don't see the need to put down posters who genuinely use factual information, plus some interpretation or opinion, to arrive at a different conclusion. Isn't that what a BB is for?
It is always up to the reader to make his/her mind up about said posts - ravingly bullish or negative.
Nobody calls a 100% believer a "troll" for his/her view, but until the evidence comes in from company RNSs that confirms plans have been achieved, the jury has to be out on any company, anywhere.
Oh, and Mr Market is always the final arbiter. Not the poster with the mostest.
Best of luck with MSMN, Andy Carroll.
You all do know that Directors' emoluments last FY amounted to £500k, the same as in 2022, which is around 20% of the entire MC of the company. Oh, and the annual loss of circa £2mn gets covered by placings of that amount, each year, by the suckers who bailed out that crumby old board.
Carroll has a truly uphill task to deliver net cash flow sufficient to avoid placings in the future, despite the rosy coloured rhetoric coming out from his soundbytes.
Time will tell.
I don't understand how CHAR jumped the queue and got the use of SV-101 before SOU and PRD. I thought from last year's developments (cold stacking whilst the mud issue was being worked on) that PG and Lonny had a special relationship with the rig owners.
By my calculation just now, 6.194mn of the 10.75p warrants out of a total of 11.5mn have now been exercised. One more week left.
Thank you.
Still getting up to speed here. Is there a link to the Sunday Roast interview?
"That’s from the website and that’s why GMET are in line for a grant or grants relating to getting US tungsten production underway asap."
I see the potential here, but, I don't understand how any exploration company can be awarded a US govt grant for a strategic metal prospect, when it is just that, a prospect with no defined resource and not even an economic study yet, let alone a PFS based on semi-hard numbers and assumptions about costs etc.
I use as my blueprint the extensive progress Blencowe Resources has had to make with its Tier 1 graphite deposit in Uganda, before getting hard cash out of the US DFC.
I'm very sorry, Paul, that you have suffered mentally and financially by being a Lth of LBE, but, for Heavens sake, give the sour grapes a rest and think outside the box about what is being set up for the future of this company.
You will feel much better for the change of attitude.
i don't know who puts these rnss together, but they need a right ********** for lack of accuracy.
every shareholding/option award stated is totally confusing.
egap has 522,7353 shares awarded. is this 522,735, or 5,227,353? etc etc.
poor show.
Very succinctly put, sir.
Best to think of BR as an out of the money long-dated call option.
Surely the main action here will be drilling in Zambia. I just have no idea when it will start, despite the ending of the rainy season.