Member Info for pekingduck

Do we know what his remuneration is going to be..? wait for the further dilution...same old sh*t

About the only positive spin I can put on this is that these new NEDs must have done some DD on AEX and wouldn’t have assumed positions of governance & oversight if we were about to go down the pan in the coming weeks. Still can’t gauge anything abt timing from this and I thought the same when LB and others came aboard, but wtf else is there to cling to at this point. Truely farcical..

Looking at this more closely, seems the holding was acquired for discretionary clients, implying it was a decision by Hargrave Hale, their UK subsidiary, for client portfolios, rather than an x/o client investment. Better still as makes it stickier and they may increase for new clients, just a thought..

Looks like a client of Canaccord has taken a 5.5% position, all via the placing.

Marlborough Fund managers increased their holding to 1.11% as of 3-8-20 (3m extra shares), so looks like they participated.

As of last file date (17-7-20), Premier Miton Group is showing a 2.82% holding, diluted by the placing. If they participated, it hasn't shown up on the holders list yet. Looks like they sold 3.758m in July.

MRRR - there was an ops update last week and we should have the 2019/20 final accounts now, they're already a month later than produced last year. After that my guess is a further ops update when AV deems it appropriate. The equity raising has taken the wind out of ATM, which is a great shame as the stronger SN price was giving us some momentum. I hope not but could be quiet here until we get production close to monthly targets.

Er, ATM paid for it..check the small print!

They’ve already earned their £120k placement fee, welcome to the murky world of paid research..

That’s because we’ve increased the # of shares out by 18%, they’ve basically just adjusted their target to account for that.

months of saying existing shareholders wouldn't be diluted to fund expansion, we issue 18% more shares to just get to nameplate production. I'm unimpressed AV. 8 months behind schedule, no 2019 financials or an ops update, and a pretty quick about turn on a stated objective. I realise global conditions are tough, but what gives.? If we have to endure more slow burn dilution, which is eroding the proportion of future cashflows and profits for each shareholder, i would prefer knowing what the take-out options are. AV, your rep is starting to look a little tarnished, tbh..

Can’t be specific but if it is, that’s a positive and probably explains late financials and ops update. There’s clearly something taking place, shd hear more next week.

F&C, was there a date that the notice was published?

I don't think you're all stupid, just some of you. wait and see..

Hearing rumours of a capital raise, mm's nudging the price up. Definitely due an update..

We're due the final report and accounts (issued 3 weeks earlier last year) and i'm also hoping for an ops update, before the end of this week. I hope the latter includes news of improved recovery rates and further shipments. Like it or not, we still don't have proof that the plant design is as efficient as expected and is being improved to meet capacity production, which is partly why we're wallowing around in the low 2's. News on financing for further stages of phase 1 or even plans for phase 2 would be a bonus, but for me, right now all i want to hear is that the recovery rates are improving (significantly) and cashflow is picking up as a result of more frequent or larger shipments.

Tend to agree worzel, akin to period after tech bubble when value & resource stocks made you spades. Trouble is, this time we have rates and yields pinned to the floor and no end in site of stimulus and pump priming. Gonna take a final bottom for yields and some signs of scarcity/inflation for that trade to get some decent momentum, but it could be starting now. Gold price suggests it is..

News is overdue, some clumsy selling going on. AV not exactly managing the IR side of things well this year, hope there’s better progress on getting the plant up to speed. Strong tin price and we’re heading south, pretty disappointing tbh..

It's quite possible they drew down the final amount of the loan so the cash is sat in their account rather than the loan a/c. Doesn't mean the cash was spent but suggests the company has v little cash liquidity left. We're 'all in' now, security over the whole company's 'assets' on the whim of a call from a TZ govt exec. Bit like Del-Boy throwing the keys to the flat on the table at the end of his poker game with Boycie. At least then Del-Boy was fixing the deck, not sure we have quite the same leverage this time.. GL, as we need it..

Annual report due out now (in fact, slightly late compared to 2019..) + notice of AGM. Should also get an ops report this month, hoping for some progress on recovery & shipping. Too quiet..