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Steward mcap guesses are purely that - guesses
Everybody in principle make them when they buy or sell - is the company overvalued or under- have the short/medium/long term prospects got better or worse.
The one thing that can be said for definite is that if the consolidation and associated placing go ahead then any existing shareholder will in effect own a smaller proportion of the company
Imo, the kicker is this paragraph which is suggested post completion - which very much sounds like a CLN deal - which suggests future pain too
‘Subject to the completion of the first sale under the Platinum Group Metals Agreement the owner of the Swiss investment Company owning the high grade PGM concentrate has indicated a firm interest in providing major restructuring finance to the Company, partly through debt and partly through equity to be issued at a higher price than the current share price.’
So someone (AP) has consistently misjudged the timescale of the historic parcel process so instead of trying to raise the funds - clear the debt that threatens the company - at a higher SP the company is forced to do a second consolidation in three years
Unfortunately with so many shares held by retail investors there will no be a big enough organised block to challenge the board or seek its replacement due to incompetence
‘ as an investor in his company i believe in him.’
And that is your right to do so - likewise others are perfectly in their right to question and ridicule your statements to avoid it becoming a truth cult.
Now where are you in the deal for my magic beans……
You sound just like an intern with a PR company or brokerage
So you believe that every interview has always been 100% factually accurate ??
Or is it APs fault (or any other AIM CEO) if potential investors choose to add 2 plus 2 and get 5 - even if the are ‘steered’ that way. Especially when they can’t independently verify those ‘steering’ suggestions
‘ Pecten the ceo believes after consultants reports that the NAV is £200m’
Those reports, if they exist, have been payed for by the company and this shareholders - so why havent they been published on posted on the website??
Or does AP think that keeping such positive and potentially material information away from shareholders is appropriate??
Ah so you’re the type of ‘investor’ that will believe anything they hear in an interview but doesn’t worry about being able to substantiate those claims
Can I tempt you with some magic beans? It says on Twitter that they are really good ….
Ianjo - indeed
Iirc the original plan and figures (which we have subsequently been told to ignore) suggested a grade of concentrate of 27-29% which has been consistently missed . This was always a risk as it was based on historical data with little recent confirmation. Anyone who has been around for long enough will remember that I raised concerns at the time re lack of drill definition data to support accurate targeting of production zones.
The exploratory drilling not only was needed to create an extended mine life but to inform where to progress future ore production. AP saying in a podcast that recent grades have been poorer than expected justify the cost of accelerating the creating of a decline to a lower level where better contact with the ore body is suggested by the current program.
The ongoing issue is whether the costs incurred can be profitably recouped - sadly this has yet to be proven. I hoped that q3/4 last year would show this but evidence is still lacking
Obviously a higher copper price still would still make a lower grade viable but that is out of our or VASTs control- especially when we have never had adequate details over of Mercuria’s offtake deal
Oofy - what a pointless post- neither you. I, nor the gatepost will ever know if the parcel - if it appears - contains the original diamonds, just that the carat weight is the same.
InvestingGenius - re David Ian Jones
If you weren’t just here to flip whatever placing shares you and techguru picked up this time you would know that Mr Jones had previously been above the 3% threshold but like most had been diluted down under that level
Yes he must have picked up some extra shares but that would have just been a top up to his prior holding not buying all 3.12% recently
Don’t worry about the facts though…..