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Does anyone know which fund Woodford holds 26% in?
Think you need to up the dosage on those pills Roy ):P, been posting on here for three years +
What does everyone reckon then - standstill for another month.
The best news could be a standstill for 12 months this would give the new team time to sort out all the issues and build up a cash reserve - or if the lenders agree to a percentage write down and a revised rate on the mezzanine debt.
The banks and all must see the company is turning a corner albeit slowly and for the first time in its history actually producing fcf.
Rns sorry
Full report on Mtl website - normally abridged on runs releases
Nevertheless, after making enquiries and considering the uncertainties described above, the Directors believe that there are reasonable grounds to believe that the use of the going concern basis remains appropriate as there is an expectation that:
The Group will be able to implement a restructuring of the Group’s total debt such that the Group will be able to meet its working capital requirements; and ? The Group will achieve its revised forecast levels of gold production.
No it's worth a small buy for the inevitable pump and place probably pretty soon going on cash burn - can't be any later than end of June, no doubt in order to facilitate another Mou or upfront infrastructure requirements on an airport contract ):P
Nice to see the director's rewarded themselves despite continually still haemorrhaging cash.
Lord Fontleroy's pay up from £192,00 in 17 to £310,000 in 18 and you can bet his sidekick Lady Penelope is a close second.
Total director's pay increased from £623K in 2017 to £922K in 2018 - lol
Would love to know how big cictgroup's short position is and when it was opened.
touched 370 to sell - seriously though company doing £23 - £28 ebitda on a £100m market cap - well overdone
Decent set of results - been building a position here over the past six months - can see this growing into a big player in the market over the next 5-10 years - decent company with good management which is a rarity on aim
Interesting we haven't had an RNS about ruffer's holding - I had assumed that they were out (disregarded the updated register on mtl site) based on the churn and the large holdings I know others on both advfn and this board are sitting on
it looks like the bed and isa went through as two sells which accounts for 1.5mill
That's what we like to see on the open, happy with yesterday's RNS everything moving in the right direction for a change, gold up, costs reduced, finally turning fcf, problems being addressed, onwards and upwards.
Was hoping for a bit more info but bit of damp squid
BakerSRT
"During February 2019 Metals Ex announced that it had agreed the rescheduling of its US$63.3 million senior debt facility subject to it raising net equity proceeds of US$20 million by 21 March 2019. However, on 5 March 2019, Metals Ex announced that its two major shareholders who in aggregate own 65.81% of the issued share capital were unwilling to support such an issue and accordingly Metals Ex advised the Senior Lenders that it believed that it is unlikely to be able to satisfy the equity fundraising condition precedent. On 1 April 2019, Metals Ex announced that it had agreed a standstill agreement with both the Senior Lenders and the mezzanine debt holders until 2 May 2019 to allow them all time to evaluate and consider possible solutions to Metals Ex's financial position. During the month Metals Ex's share price was volatile but finished broadly unchanged.
i'm hoping we don't get an RNS until next week, will give me chance to transfer my trading account holding into my isa ):P
On the other hand if some of the placing stock has already been forward sold zorbas et al could be worried about the resolution not passing which could be the reason for the purchase to cover the position if they don't get the outcome they want.
I only had a small holding which i sold down last week but was going to add - shame really as seems like a decent company, personal view is that the events of the last week have made the company un-investable going forward as they are going to rinse and repeat until the sp has cratered and the company is drowning in more debt.
Nomad won't be an issue, as long as you have the cash it's a given, due diligence all goes out of the window on AIM companies - take MRS this week the nomad signed off on a dilution of 1.3million to shareholders to purchase a company with no fixed or tangible assets which parties related to major shareholders in MRS took controlling interests in back in February - majority is a cesspit where money talks
don't think they are sells just took 2 x 100K buys at 0.45 ask is now 0.64
It would have to be a good bid, don't believe Candy and Edwards have kept faith in the turnaround and stumped up loans and placings (be it at exorbitant rates) just to get to the final hurdle and sell their stakes, if it came to that i would assume they'd do a deal with the bank to pay off the debt - guess the next few weeks will tell.