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Those stats are terrible, and that was before the legal proceedings went official.
Started at £1.45 fell steadily to 60.98, currently at 57.9.
As I said, its a shame, was a great trading share, but to trade you need a degree of stability and predictability.
The legal proceedings have brought uncertainty, looking at the other factors, this can only go one way.
As I said, let the trend be your friend, and that trend is terrible.
"Let the trend be your friend"
I'm sure it will bounce back, but to bounce something has to hit resistance (the floor).
Where is the floor with this?
What is there currently to encourage someone to buy this share today?
No income, a $2.5bn court case, and debt to pay.
Not posted one LSE in a long while.
But for old times sake, here is my two penneth worth
Court cases and share prices do not go well together, whether the case is valid or not.
Its a shame, because I was making good money trading this.
The share has nothing to support it currently, no revenue and a $2.5bn court case against it, plus the well mentioned debt.ts broken though resistance, shorters wil be all over this.
My feeling (it is only that) is that this will close closer to 50p than 60p, and likely be in the 40's by the end of the week.
Where is the floor? who knows, could well test the 30's before the 31st.
Just my opinion, I have no agenda, just sat on the sidelines for now.
But seen court cases impact share price previously, it's not pretty.
As far as production is concerned you are right, but as far as the market is concerned I stand by my comment. I have said for a while, the process needed to be put to bed one way or another, as it has been a drag on the Sp. Now it is out of the way, the SP should be able to get to a more realisitic value. I would like to see it back nearer the 6p mark, then we can all relax a bit
SP increase, looks like the market agrees this is good news.
The market generally has changed in the last few years. A lot of AIM stocks undervalued/ I don't see any great risk here, but nothing is guarunteed in the current climate. As you say, hopefully the sp will react now when we get production updates. Clearly they couldn't get what they wanted in terms of price, so the y pulled the plug. Which is OK, it shows we where not in a position of weakeness and did not need to accept a low ball offer. To me, had they started the process a year earlier it would probably have gone through,
I think it is a good thing for us, it clears up the uncertainty. So when they put out a RNS saying production has increased, hopefully the sp will increase accordingly. The time to sell was last year, when coppr companies where flying off the shelves at good prices, general market uncetrainty has kicked in since, with weaker demand across the world. I think we all knew that zcifan was wildy optimistic, but hoped he was correct. However lets remember, they are increasing production hand over fist, and are now producing getting on for 10,0000 tonnes of copper p/a, with further improvements to come. With the uncertainty now gone, I think we can now hope to move forward as a company.
If you look at SKR today and THAL yesterday, there is so many massively undervalued stocks on the AIM that when the right news comes, the sp moves big and fast. Lets hope we get the right news, (soonish will do) and we are the SP that moves big and fast. GLA
When it came out I don't think anyone thought for one scoend that it would still be hanging over us a full year later. We have had Record Production RNS's flowing like water. However it has all been for nothing as this mill stone continues to hang around our necks. One thing the market does not like is uncertainty. We have heard all the chatter about imminent news, all so far to nothing. Will we still be waiting this time next year?
We should be guests of honour!
Are they having a first birthday party?
It looks like they are raising the money to buy numerous assets, not mention of the assets they are looking to purchase, or even if they have identified any particular assets. Though I hope they are interested in ACU, and have a nice sized war chest before bidding. We deserve it after waiting for so long. GLA
Not the worst strategy, though I do wonder why they started the process when they did.
Well if thats the case I struggle to know why it has lasted so long. I would have thought the chinese or indians would have more than deep enough pockets
"The engagement of Rand Merchant Bank (“RMB”) to realise value from ZCI’s investment in its subsidiary, as reported previously, remains a key area of focus. RMB and the Board of Directors remains committed to the process to identify potential parties with sufficient resources to support the development of the Group’s operations and realise its potential value." Looking at this iy looks to me like theu want a partner with deeper pockets than they have, rather than an out right sale. This possibly why it is taking so long, probably pleny of companies want to buy outright, but not sio many who want to partner For me this is better for us ACU holders as it will dilute the ZCI stake, and put a firm value on our stake. Though this is just my interpretation, and anything could happen. I wouldn't have thought you would get any info from Brad, I doubt you would even get a reply. GLA
To say this is frustrating is an understatement to say the least. Looks like we will definately reach the one year milestone. Lets hope this saga is not still going in another years time, because all the improvements in production count for nothinh until this is sorted
Not exactly what I was hoping for. I was hoping for something that would tell us exactly what is going on.
I believe they are going to have a first birthday party, though have yet to recieve my invite. Lets hope we are not still waiting when it comes of age.
Though it is on not much volume, but still not a bad increase. lets hope they know something we don't, and news really is imminent
ZCI have shown some strength in it sp over the last few weeks, hopefully this is thet start of the ACU sp following it upwards.