Member Info for Robdog67

Sorry should have said additional costs !!, I type too fast

I don't agree with 777, I think their must be a lot of value in what they have done so .

In terms of Rover, I think it might turn out to be a stinker if say the 3 stooges, and I don't mean the BB pundits ,as refered to earlier , but the 3 mining co's. I see la mancha has 25% interest in Gmining 🤔🤔, very interesting. They have put their own man in place Karim and now their own contractor and they are stringing the extra construction out until the price of nickel 🚀, I wouldn't be suprised if they get it for a song , then the additional some how disappear 🤔🤔

Still you would have doubled you money from here , might dip my toe in from here myself , seems a good punt .

This will be settled by the 3 main shareholders who own 51% of the shares. What ever they are happy with will be passed.

Now, what I can't get my head around is that the 3 main shareholders are all experts in mining , Glencore, la mancha, & Orion. It was declared on 24 the April last year that everything was on budget and on schedule, but then at the very beginning of Oct there was a massive extra amount of money required , since increased again to i believe 87% extra .

How the hell can that happen when you have 3 expert companies sitting watching what is happening. At least 2 are likely represented on the board given their high % of shares. As I say the 3 between them will decide the fate of the company. The easiest soon would be to offer 8-10p for the other 49% . They would pick up the company for just over 20 million. The other shareholders can hardly complain as they have more than doubled their money . The alternative might administration and I guess at least Glencore and or la mancha would pick up the pieces . However they may have to pay way over 20 million given the investment already put into the project . Time will tell , but it is worth thinking on🤔🤔

Strow, I admire your optimism and I too are hoping that we are at the bottom of the commodity cycle, as I have some investments in PMG companies.

Having seen shares bomb many times over the years you rarely see them recover and if they do it can take many years . That is a fact that i know is a fact.

It is difficult to see the share price getting back to 20p before any announcement on financing solution, but

you live hope.

Only time will tell who turns out to be right, me or you. We willjust have to wait and see.

I am sure Karim is quite capable of finishing the mine and getting up and running. He should have a job for life if he wants it.

However, there is the small matter of 454 million dollars or in sterling 360 million.

The problem is a company worth 11 million sterling can not have debt of 360 million sterling .

If half the money was secured by secured loans then the other half of the money would have to come from the existing shareholders, that means 180 million sterling of new shares. Given the distressed situation I suspect any new investors will want shares at a significant discount to the current 4p, most likely at 1p at the very best 2p . You do the maths , but suffice to say the existing shareholders will be significantly diluted.

Can anyone come with a different senerio 🤔

It's only an update , they won't make an announcement until the formal results are announced.

If the market thought the divi was cancelled I don't think it would risen, it would have fallen

Crazy , really crazy price. Assuming the oil price stays stable or starts to increase in the second half of the year, then this should motor back to 20p at some point. Hopefully sooner. I don't think the management have done anything wrong, it's just market sentiment against commodities, it seems to be at it's lowest point at the moment 🤔

The only way the arguments and name calling are going to end is when the financing is actually announced.

For those holding shares , there appears nothing that will convince them that the share will not rise from here like a phoenix out the ashes and soar back to the 100's and no dilution will occur.

For those sitting on the sidelines , there may be a re-entry once the financing is announced , assuming it is still a public company. Only time will tell and I am sure we will all be around when that time comes. I won't have lost any money and equally I won't have gained any money at that precise time. But one thing it will be , is an 'interesting time(s)'. Bye for now.

Just simple maths will tell you the small investors will be shafted.

The current shares are worth about 11 million pounds . Karim said 454 mill dollars are needed to complete the project or 360 million pounds . So based on that alone current investors are likely to be diluted by a factor of about 30. Not 30%, but 30 times. Sad really , very sad. 😭

777, you're a 'hard man' , I wouldn't like to meet you in a dark alley.

But, but you are totally realistic about the forthcoming negotiations.

I noticed Karim mentioned all the big investors when talking about interested parties. That didn't include any reference to small investors. You could say why would he, but he knows he is about to be shafted with a big stick up his b*m. Today we are in a situation where interest rates for money are 5 % plus against 0% a couple of years ago. Their leverage in negotiations is next to nothing as investors know they can walk away and pick up the pieces from the administrator. They will want a lot in return to save the company in it's current state. Only time will tell but I wouldn't want to be holding the shares at the moment.

I am no paid troll.

Yes. It's a fantastic project but just don't fall in love with the share.

On the 19th Feb Karim said 'full financing solution will be developed in the coming weeks , but with no guarantee of success' . Says it all really , just be a bit more realistic about what you are in .

I see the truth hurts 🤕. I take it you were in at the start of the crash and are still there 🤔🤔

Yes. the additional funding will hurt and will probably dilute you to 99% from 125p although there is the probability of a long slog back from here where you might get 10% back from your original investment. 💩 happens . Being a new investor I might get in when the funding party has ended and the dust has settled . 3-6 months 🤔

Lawrence, I bow to your superior knowledge on this company. As you can see it's not one I follow or have been invested in. I take it you have been a long time investor in the Co. I just feel for the investors that stay with companies that have shafted them whether that's through incompetence or fraud. I have been there in the past where the price keeps going down and down. SED is another one that's gone tits up, yet It was 40p not so long ago. Again not invested. Money is expensive now compared to a few years ago so there will be a high price to pay for the new money. It is normally best to take a loss now or should i say at 25p rather than hang on and then reinvest when the company is in a safe place. It's just my view through my own experience. An investment is there to make money not to lose it, so I hope you were not one that was invested at 125p😲

Totally, convinced the mine will be completed. Not convinced the current management will be allowed to complete it, given their previous track record. 100% convinced there is a tremendous investment case once they can get the additional money. However, at this stage you are gambling not investing . The current shareholders have all but been wiped out and are likely to be diluted further. I would wait until you see the additional money has been secured before putting any new money in to it.🤔

Difficult to see the current share price increasing by very much. The situation is very similar to the Sirius potash project in North Yorkshire. They ran out of money 4 years ago and AA bought them for peanuts. Yes the mine will be eventually completed but probably not by Hzm. Likely AA or Rio T or some other big mine co will complete and yes they they will make big money out of it. Same old , same old, if a mine start up says it will cost X, the you can say the cost is likely 2X. I don't think current shareholders will be left with anything by the end of this year. Love to be proved wrong though , but risk reward is very high .

Obvious basket case. Helikon just sold out their 3% after the share rose to 4p. If they survive , and that's a very big IF, then existing shareholders will be wiped out. Get out while you can . There are very little positives to drive the shareprice higher and a lot of neg news coming to drive the shareprice lower 🤔🤔

It's a loss either way.

NFTs , I would agree with most of what you said there. last year the company had to settle for CLN's which are obviously inferior to a placing, so whether they can get a meaningful placing away is debatable. It is difficult to see them getting more than a million. More likely under 500k . Why they don't just try and mirror Fever tree in terms of margins & strategy beats me. Seems logical to me and even FT is finding the popularity of their product is waning . It is ok sitting on the sidelines. I feel sorry for the shareholders but I did say to Toplocks sell at 1p and revisit the situation after 6 months.

Got down to my 0.5p target, now for the placing , what will it be 🤔🤔

I said it looked like it was heading for 0.5p. Not far off now. Shortly after Monday we might hear what the further placing price might be . It's anybody's guess really 🤔🤔 Anybody 🎯