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I see Humm is down another 30% π²
I told Pub to sell and buy back lower , but he wouldn't listen ..........Lessons Learnt
It may yet go lower,
I know it won't go bust but he could have sold and bought back lower . I'm buying at 4p π€
Hope not, it's just kicking the can further down the road.
I am hoping on the 29th March that they announce the outline of a deal , with X mill raised at a placing price of Y p, hopefully not lower than 3p, but you never know what the deal may be.
Hopefully, a rise before the deal , possibly towards 3.5p π€
Price , I think there is no chance of reaching 120p again.
I think if they have to raise at 3p then the mrk cap would have to rise by 8000% in order to reach 120p again.
It might be a super mine one day but I doubt it's that super !
Another slight uptick in mm`s price on HL today. I said it might be a good sign if the price gradually moves up towards the month end π€
Also I suspect the stockbroker shares will be shares held by PI`s in Nominees accounts, nothing to get excited about.
Rover, I totally agree, Effectively Hzm are now a shell company with a half finished mine as an asset.
They are essentially starting over again, so they will place shares at a price that is attractive to new investors.
Hopefully, they can do a deal and existing investors will have to judge it as a new investment opportunity.
After the debacle of the Martin era, then the 3 cornerstones won't get it wrong and the mine will be a huge success.
The shares , whatever the starting price will be good value at the time the mine is produce.
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 π²
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 π
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 .
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 π
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.