Member Info for Robdog67

Gold up 2% today , silver 2.5 % , getting close to take off 🚀

Strow, you might be surprised how the Nickel price rises once the new commodity cycle starts . It won't be very long now and it might 🚀. It just needs the Chinese to restart and gold to break out .

Strow, i'm with HL as broker so should get them at placing price if I lodge interest. 2p or nor 2p that is the question ❓ or 20p ❓

None taken. I have a pretty thick skin.

TBH I can't see them making any further statements untill the final results at the very end of this month . They may delay to early April if they have a proposal. It will make grim reading , but the shares may actually bounce as everyone knows it's going to be bad. If there is any light at the end of the tunnel we may see it then.

In their update today they stated that they had conserved a lot of the interim finance money so I can't see them needing any further cash until the end of May when hopefully they will pass any resolutions that will take them forward. As long as the Trio don't fall out over the details then we are off to 🏇🏇

You can insult me as much as you like. It just shows what and infant you .

I'm laughing at you because I don't have any shares in this mess, although I will be investing at 2p if the trio get their act together , loads of money 💰💰, then off to 🏇🏇

Ok Bolly , you make me laugh all the time 😂😂

No it's no fun or funny to be in that position. I still own some Bezant which are all but worthless.

But I just don't get why you would think the shares will be offered at 20p. Probably about 95% of placings are done at a discount to the prevailing price. The other 5%'are done at a small premium as the company is going gangbusters.

So this will likely be done at between 2-3p.

The sums on dilution are as follows, say you invested £1000 in shares at 125p . That investment is now worth about £40 .

It will still be worth £40 after the placing but the company will be worth 180 million . Even if it then doubles from there to 360 million your investment will still only be worth £80 on an original investment of £1000. It would have to more than 10 bag to get anywhere near your original investment 🤕😭

In terms of dilution, I reckon they would have to offer up 8 billion shares at 2p to get 160 million sterling.

Current share are 270 million , that will be a dilution of 30 to 1 , we'll see what comes , but I wouldn't be advising anyone it was a strong buy or buy

Totally agree, a definite punt at the moment, downside is zilch , upside difficult to see much 🤔

Best to wait for the proposal and then invest in the new shares , most likely at a discount to the price at the end of March 🤔🤔

As I suggested the trio of controlling shareholders will want to pass through any proposal at the AGM at the end of May .

I think they will have something as they will be too embarrassed to fail , given that they have overseen the debacle and Glencore will want to use the mine to replace the New Cal mine that they announced the closure of.

Assuming the trio keep faith with the 49ers, then at a ratio of 1:1 equity to debt then the placing may be 160 mill sterling of new shares.

Unless the company is doing really well the price is seldom at a premium to the current price , so at the moment I'd bet on 2p 🤔

By the way Billy the laughs on you not me , I'm not the one holding the fooked up shares 🦗🦗

Mv, the mm's mark the price down as a result of how they read the RNS, most probably by an Algo, then they will adjust the price during the day depending on the level of buying and selling. Like you the say the price bears no relation to the cost of the project so far . It's priced to fail at the moment , only good news will send it higher

Rover, correct , but I am not suggesting Glencore goes it alone . They appear to be acting as a trio and I suspect they will go forward as a trio as they will get whatever they propose through the AGM in May. Unless they fall out and then it's anyone's guess as to what happens.

The final results should be out at the end of March so I suspect something may be proposed then or very soon after , with the proposal going to the AGM in May for approval. It would make sense in t erms of timing.

I am tempted to wait until after the final results before investing as that is the least riskiest option.

Rover, you may well be right. You have certainly been in this a long time.

However, in terms of Glencore this is all peanuts to them , back end of last year they paid 6.93 bn dollars on Tecks coal resources , in CASH !!

On the 12th Feb Glencore announced the closure of their Nickel mine in New Caledonia . In their statement they said they had invested 4 bn dollars in the mine without any profit !!

That virtually nails on that Hzm will be the replacement for New Cal .

That just leaves how they are going to do it , admin they risk a fight with another large miner , so not desirable. If they want to be fair they will include the 49 niners , but they don't have to , they can pick up Hzm for pocket. They have been buying back their shares hand over fist and on their balance at last year end they had 1.9 bn cash in hand or in the bank .

They are a 46 bn operation. Hzm is nothing to them 😂😂

As I said the controlling investors appear to be determined to to move on with it.

I also think they won't want it to go into admin as it looks really bad on all 3 as they are all 'experts' in mining😂

However, I do think at this price it would make sense for them to buy out the minority 49% , take it private and and finish the project between the 3. After all , all the heavy lifting has already been done, for them it would be the home straight.

Hopefully at the bottom of the commodity cycle, so the price should improve.

Only time will tell , but I don't think it will take long 🤔

Strow, I can't see it taking all to sort.

The 3 main investors have acted quite quickly so far , in getting their man , Karim in charge, lined up Gmining to complete the dig and provided interim finance . How long will 20 million dollars last , it's not going to last that long.

The main investors have acted quickly and decisively,in my opinion.

I can't see it taking more than a couple of months to sort out the financing.

777, certainly wouldn't bet against your senerio. Most likely outcome, but not the only way.

Depends on whether the 3 main investors can agree on something. If they can't then it's probably curtains.

It just should never have come to this. The costings should have been there or thereabouts.

Still, I wouldn't be surprised if someone picks up the pieces the costs to complete suddenly shrink dramatically. We will see 🤔

Ivor , totally agree they will not want to dilute themsevles.

However, they will want to look after themselves, not necessarily the 49%.

If the 3 can pick it up for 10 p then the banks will have to go along with that as the alternative is administration and they will lose everything.

To be fair with other companies they can put themselves up for sale to the highest bidder, but again that is not likely as it's not in their interests, as they will want to have the asset.

It's just beggars belief that the costs can change that much in such a short time, it's as if it has all been manipulated. If I was a PI i'd be absolutely livid with the 3 main investors. I am sure a lot of small investors will have invested their saving because of the fact that the main investors were experts in mining .

Problem is the 51% are holding all the cards . They don't hold 51% for no particular reason. They may be in this situation through previous management incompetence , but as you can see i am sceptical about the whole affair.

But we are where we are and I think they will look after themselves which may mean they will throw a bone to the dogs (the 49%) and move on with the prize. Only time will tell .

Placing incoming tomorrow 🤔🤔 0.5 or 0.55 or 0.6p 🤔🤔

After all , it's only a hole in the ground , it's not even underground mining, and certainly not rocket science 🚀 I can't see how they could have got there costs wrong by 87% . Realisticly , it stinks 💩