Member Info for Robdog67

Over the years I've learnt lessons when I have had companies go bust.

First don't, don't fall in love with the project story and therefore the share.

Secondly, you are there to make money not lose it.

Thirdly , sell at the first sign of bad news . This is very important as the share will carry on going down , especially if there is a placing required to keep the lights on .

If you look at Hzm it collapsed at such a speed from 125p that you would have to be skilful to get out before it hit 20p. But at 20p it wasn't going to go up again, and even selling at 20p ,it still gone down another 90% from there.

I stick to these rules and it works , believe me , through experience

Placings are very seldom at a premiums, perhaps 20% if you are very lucky, and the company has to be doing really.

I have never seen any thing like you are suggesting ie 30 p .

The updates which always includes the caveat , by the way we might be going bust , just make the shares cheaper, so a placing at 2p might be more realistic. I do think if there was a deal to be done, it should have been done by now, they have had nearly 6 months . Companies get their placings away in weeks , but obviously not this scale. It may be too much , even though the mine looks a dead cert for success once it's built.

Billy, I suspect it's the other way around. Glencore have all the ammo and probably want a bigger chunk going forward.

But it's not good that they can't find an agreement. It suggests someone is holding out for more and are willing to see it go down the toilet. Glencore SP up again today. another 500mill on their mrk cap , they are happy to wait.

Clever, I think you are probably right.

Glencore can win both ways , they can partake in a refinance with LA & O or they could pick up the pieces from admin for back pocket cash. Either way it may go down to the wire. Thought it would be sorted early April at the latest.

With it taking longer. not a good sign

Strow, point taken on making Glencore a minority. But what motion might that be.

LA & O can't rely on the 49%, so they will be talking to new investors . Whatever they offer has to be really attractive to a new investor.

We will see what the market thinks of the situation tomorrow. It might surprise me and be marked higher, but if the market doesn't like the jungle drums then it will be marked lower. Either way the BOD is taking it all the way 😲

You have no leverage !

Glencore will be happy to bid for the pieces after Admin, so they are playing hard ball.

LA & O will have to take what they are given if they want to continue this co , otherwise it's admin and they are likely to lose a lot.

At the moment the 49% don't count as they come bottom of the pile and will lose everything 😭

Not good . Likely drop to a penny now.

I suspect the cornerstones have not agreed a way forward. Likely Glencore want to take the lot, but compo for the other 2 in issue. I suspect Glencore is playing hard ball and willing for it going into admin, in the hope of picking up up the pieces .

Still think a raise at 10p/20p . More like 1p now not 3p .

Further to my last note , I forgot to say , I wouldn't own , rather have my diesel.

Lol , Contra, I think you are talking to the wall.

Having said that I think ICE cars will be with us for a lot longer than you think and I think hydrogen cars may well the next best car rather than an EV . People are beginning to see the problems with owning an EV. Not least the cost of a new battery & depreciation 😂

I think you are right, but I really think we are at an early stage of next commodity bull run.

I wouldn't worry , it will go up at some stage . Probably at the bottom at the moment

Up 5%,today , equivalent to an increase of 2.5 billion sterling.

Must be a positive sign for a new deal .

All speculation on how it could be done but price not shifting yet . Also no notification , as far as I am aware as to when the final results should be announced. Last year it was 29th March. Can't see why it should be any later this year.

Would make sense to announce something at the same time, they are on a month end deadline anyway.

Is this starting to react to the increases in Pall & Plat 🤔🤔

Can not see any placing above the current 3p. For 2 reasons, if the prof traders /investors thought the placing was going to be anything like 10/ 20p then they would be buying hand over fist at the current price. Equally, the 3 cornerstones would be buying hand over fist knowing that their 3p purchases would triple to 10p on any announcement re placing at 10p.

It just doesn't make sense. There is no buying by anyone at the mo. Tells you a story 🤔🤔

Nice 7% rise this morning, just waiting for the other 293%,🥱🥱 then i will have tripled my money in a day 😲

Yes. We are all left guessing🤔🤔

One thing for sure , it won't be going up 300% tomorrow 😂 just a hunch 😂

Still can't see them raising at anything more than 3p .

It is seldom that a company raises at more than the current share price.

Money is becoming hard to get so don't build up your hopes. Bids folded today as they couldn't get money. Similar with Loop up and Copl threw in the towel .

Miners tanked a bit today , so it's not a rosey picture at the moment. We should know at the end of month .

To be fair , Fin is entitled to his opinion . I think he is wrong regarding the current leadership ie Karim

He might have a point regarding 4p . If placing is at say 2p , then if it doubles in 6 months then I'll be happy with that 😁

No doubt the mine will be completed.

It will be the 51% who will decide after discussions with new investors 🤔

Hopefully the results will be declared early April.

Very difficult to see the shares at 20p for a lot of years ,if ever . It might actually move to zero if any proposal fails in April .

The Fat Lady will be singing her song, hopefully not .