Member Info for oldspursfan

Mogombo, a company cannot announce a dividend one day and set an ex dividend date 2 months in the past. Not allowed I'm afraid.

They'll have to issue something to explain themselves. I just hope it isn't a rubbish holding rns along the lines of last time, for example (paraphrased):

The Company confirms that trading in its ordinary shares has been suspended (at 7.40am 16/05/2022) pending an announcement. The Company's AIM securities remain suspended. Further updates will be made shortly.

Hoping that the lack of such a rns on the day of suspension, means the rns when it comes will provide a full set of answers.

I honestly think MF meant until the reason for suspension is clear, they cannot recommended buying or selling. Obviously nobody proof read it before publishing!

Vox newswire! FFS be still my beating heart...!!

Happy birthday Loosecanon!
The suspension should be related to the perceived risk of non-public details being leaked, suggesting it's very near completion. There is a lot of regulatory hoops to jump through should this be a Rule 15 triggering disposal of assets being put forward.

It obviously needs to reach a level of certainty before the proposal information can be made public, which if this is happening during market opening hours can result in some disorderly activity from unscrupulous parties.

An update should come later today, at least explaining what the suspension is for. There's not been much social media speculation (at least along the same lines as making public on Twitter a new relationship with a specific bank). We wait and see. GLA

Last suspension was followed up at 3:11pm the same day. Anytime today is fair enough in my books. They don't dance to TW's tune that's for sure

Zak traders cafe
FFS don't DO that to me!
lol

1. sale terms agreed and annoucnement / Rule 15 circular being prepared. Plausible
2. credible party pulled out. I've mentsioned a few times they the BoD crudely shoehorned in additional interest into the October RNS. IMO they won't, off the back of that, say one party has pulled out, they will continue to reference that discussions are ongoing with a number of parties before saying that.
3. Moscow exchange - don't think anyone can force a listing on a particlar exchange, and ONLY their exchange. Don't forget we're dual listed on Frankfurt too, so another listing on another exchange won't require a delisting from any others. IMO (again) but if it's going that way, the first announcement will be intention to list on Moscow first as an additional exchange (not suspendable).

Stevo - what?? So some Twitter guru thinks it's not sales related but wording in relation to the AGM??

The Annual General Meeting which satisfies governance requirements, and of which they've had 20+ over the years? The Meeting for which they have to nofity the market of date, time, agenda items and Annual Report. Which can be issued at a time of EUA's choosing, including intraday or after close of business, but minimum 21 days in advance so up to and including the first week of June?

In a word, no.

Montmuzard
There is so little scope for shorters to benefit given the shareprice currently, it can only go to zero, no lower, so there is a defined limit for them in place. However, whats the limit up to which longs can benefit? It's big and it's blue (well, occasionally)!
GLA going to refrain from posting until my mobile chimes the next announcement.

You're entitled to your opinion Kira, the trouble with the last weekend is, whilst accusing people of not considering "alternative views" as you called it, you yourself didn't entertain the notion that you could be wrong.

You were adamant that this will end in disaster for us PIs, banging on and on about it, refusing to accept this could be successful, and yet confused why that seemed to annoy people?

I put it down to you deliberately baiting posters, but now after months of theory, we are in suspension abd you haven't really softened. Try to stay grounded, but I'd still only put your scenario as a less than 5% chance, possible, but with current operations, nothing to suggest it is the most likely outcome.

Hello!

Here we go?

GLA

Mac touched upon something yesterday I agree with, which is that the situation with MT has to come to a head soon. For two years now we've had the "sell the company/ expand the company" joint strategy, but have neither sold MT, nor activated Sinosteel to develop it. Given that we have this binding hydrogen project that we all presume demands the metals in our license areas, and given MT is two years away from meaningful production, something has to give soon. WK won't cover it, and for Rosgeo we are basically doing some exploring.

I'm reaching the point where it's enough of the multiple options, what are BoD actually going to do? Unfortunately recent history tells us when the BoD now dangles the "news soon" carrot either in RNS or tweet form, it's code for no news for months. This is not a good reputation to have.

For me it's the job of the BoD to provide ongoing evidence that shows the confidence placed in them by investors however many months ago wasn't, and still isn't, misplaced. I think the key thing to remember is, for all the resource reports, JORCs etc., we do not have our money invested in the metals that are in the ground. We have our money invested in the hope that this company, this BoD, can monetise the metals that are in the ground. History and AIM is littered with the corpses of mining companies that for one reason or another (bad management, bad luck) couldn't monetise profitably what was there to be exploited. If for whatever reason these guys fail, the PGMs will still be in the ground, but we won't be the ones to benefit.

I'll be sending my questions on the above in for the AGM, assuming they aren't addressed beforehand by the BoD issuing news on any of the multiple fronts that now massively overdue. Sadly that appears to be a very safe assumption to make. GLA

Are we actually expecting an rns on wk results?

Isn't that more Annual Report material, which if the AGM happens in June, should be published towards the back end of May? Any reason why this would warrant a separate, specific rns so close to when that falls due?

Makes you wonder how the other 17 daveparkers lost their credibility. Good job it wasn't one of them saying rns tonight, or we'd all dismiss it...

Morning
Not sure why the brickbats are being thrown at Tory voters. Quantitative Easing became the go-to policy after 2008 and Alistair Darling Labour Chancellor

Excellent thread, and helps shine a light on what could be happening behind the scenes. The only question I would raise is if this is the case would that not make the October RNS where it was stated DD was "successfully completed" a bit misleading, if in fact the DD only resulted in a series of "firm this up, let's see that" requirements? That to me doesn't sound "complete"

It's also not beyond the BoD to issue a sale progress update that says since the DD was completed (refer RNS of 6 months ago) the credible party have requested the results of a series of resource-based assessments, as referred to in previous RNSs, which we continues to work through. If the credible party are still around, confirmation of this would go a long way to restoring confidence that a sale could indeed be close.

GLA

Not sure I follow your logic ljm
We were up above 40p, so 70p from there isn't that much of a leap. But then if 70p is the agreed value on sale of the licenses we have, why is it credible at 40p but suddenly not credible at 10? What has the current volatile share price, in the absence of sale news so far, and in the midst of a war scenario, got to do with the price of assets on negotiated sale?

It will be what it will be, share price in the meantime is largely irrelevant, and the BoD have stated more than once that rule 15 would be triggered and this was when the sp was in the 27-30p range.

The only Rule 15 test that is credible based on future expansion plans is the value of the sale price vs mcap at the time. There is no way the BoD would have thought, given their plans, that the sp would drop substantially, and Old Vlad would do his thing as it "successfully concludes".

Yes we need updates, a sales circular ideally, but SP volatility in the run up to that isn't any real indicator of how much someone is willing to pay, or what the BoD would accept, for a long term strategic resource.

Ljm I would never accuse this of being a pump and dump, given the reason for the drop in sp is driven by the war.

Placings are part and parcel of how a public listed company works. It's what that money is used for that counts. It isn't just for keeping the lights on/directors in pay, there are stated aims and strategies that the money is for.

Now, this is where the BoD should step up and explain exactly where we are, and what they are focusing on. strategies they have stated over the years include Sale, Rosgeo, and expand wk, but it's hydrogen that the big grey areas need clarity imo.

What exactly have the BoD signed us up to do, what is our role, and if it is to provide pgms then how much, by when, and how will they get to that level if production? How dependent are these plans on the sale of "substantially all" our existing assets, and if very dependent then where the AF are we?

Moaning the "pump and dump" is missing the point that news is due, overdue in fact. The "more news to come" tweet from 14 Jan should not result in three months of silence when there are so many strategies, all completely unaffected by Ukraine (apparently).

The key, for me, is newsflow.

Wouldn't read too much into that Sbrace, unfortunately. He's only up as he was appointed after the last AGM, so it's more a ratification thing. Tamerlan was up last year after being appointed a couple of months or so earlier. Also with BoD votes, he'll get in again.

And, as per, the BoD haven't specified which of the multiple strategies currently ongoing his appointment was in relation to. Sale? Hydrogen? WK? Rosgeo? Sinosteel/bringing MT into production? More than one of them? Something else? We can only guess, because the BoD dont specify.

Nice to see blue, but ffs the "more news to come" tweet was on 14 Jan. They must have something price sensitive to say by now??