Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I have listened to that presentation yet again.
On the Q of ‘have there been any discussions to take the company private’, James Cheek does actually say quite specifically ‘…it’s not something I’d want to dicuss’
I think because this isn’t the first thing he said people have jumped to the wrong conclusions on this. I did too. But he first of all seems surprised by the question, then says something else first but - he does then specifically answer that Q.
I think they may have gone for another RF drawdown and we’ll hear after hours today or the wait goes on. They said categorically IF they did an equity raise then share holders would be included in an open offer on the same terms. I do think the NICE delay has played havoc with GDR’s current position of weakness but I’m still (stupidly?) optimistic they can turn things around. I really hope so. As it is, we have heard nothing of any open offer.
If a traditional placing had been lined up nissan the sp would be rising for the placee to sell into.
One important thing to remember is that there was a 3 month delay in NICE finalising their recommendation, plus a second public consultation. I remember thinking at the time these didn’t seem to be delayed for any particularly good reasons and things financially might have sat a good deal more comfortably for GDR had things been on time. Very conspiratorial I know, but could there be other forces deliberately trying to delay progress because it pushes GdR closer and closer to the brink of going bust? In the world of pharmas nothing would surprise me. GDR has two world firsts in these tests and they are potentially worth a fortune so would an outside organisation attempt to snap GDR up were it in financial trouble? You bet they would. Relatively speaking the money needed to see GDR through the next 12 months is small. Peanuts to any of the large or medium sized pharmas. If anything happens to trigger a good recovery here then GDr might still become the target for a takeover bid.
Dunno system, there was a trade first thing this morning for 111,111 but ours supposedly a sell. Well, it’s in red so it must be a sell, right? lol
There is STILL a chance the sp could rise significantly from these levels as July approaches. If it does and an equity raise is done at 8p then Cheek would have pulled off a miracle. It’s NOT beyond the bounds of possibility AND it could all change Ina moment. When this stock turns it can be a very big riser in just hours. This is what I’m hanging all my hopes on.
Troy, the US partner has been announced already, although not the actual name of the organisation. There was no mention of funding in the RNS but I suspect you are right in that this might be a much better option for GDR than RF drawdowns. Don’t think they can buy a 75% stake in the company though without having to make an offer to buy it can they?
The draft guidance from NICE was for FULL recommendation. No reason to think we will hear differently in July. I still think he’s banking on the mcap investing in the run up to news and will do an equity raise then. Certainly hope so. It’s too close to call just now. I’d also hope Cheek allows existing sh to participate. I would definitely throw more in if I was reassured this isn’t going private, even if there’s a hefty equity raise.
An RF drawdown of £300k would be easily dumped off the sp is having one of its rare spikes as the volume here can go from nought to 60 in just hours.
Squeaky bum time now.
Good for you Smallmoves.
I’ve actually sold out this morning. I read up on AMTE who, similar to Cpx , referred to themselves in RNSs even one month before they stopped trading, as ‘a leading designer and manufacturer…’ blah blah blah. They also had Director changes in the final weeks, designed to improve matters and give the impression things were on the up. A general pacing and also a retail offer in the final 6 months. Too many similarities now and silence from the BODs just when they must know existing share holders are absolutely desperate for something to hang their hopes on.
The new Finance controller is a specialist in winding companies up and closing Business accounts. I don’t know what Dr Cooley is up to but I’m now out. Only got £7600 back so nursing big losses here. I hope this comes good for those who choose to stay in no matter what.
Hmmm I've got that sinking feeling again... is this going to turn out to be a total waste of time for us ordinary pis and Dr C is actually league with Lars as a major share holder and knows what's going down...other than the sp of course..?
I really really hate AIM. It's so bent.
Ah well that's a nice cheerful post to end the day with then. Is that why this is getting nowhere and everyone is selling regardless of the bs Lars was putting out on socials recently whilst suspended?
MyIPA - a question for you if I may....
lse reported trades today suggest we've had £60k of buying and £35k of sells. And we're 8% down.
Any thoughts pls? doesn't seem to matter what happens with trades, GDR just sits in the red whatever happens
And another just popped up. £28k this time and OTC. This is someone making a move ins't it? Or am I only dreaming? With mcap of only £2m that's over 1% of the company. If it's the same buyer as the £57k whopper then together someone has just bought over 4% of the company in the last 24 hrs.
Anyone any thoughts?
That's a whopper and no mistake. Could be Dr C adding further? I wonder if Dr C is actually after taking this over? At anything like the current mcap it would be a complete steal. Go on Doc, take it on and buy us all out for 1p a share. Treat yourself.
Oh no, another rabid ramp poster who will now swamp the bb with pointless msgs saying we’re all about to miss out. Can’t cope with another of these today, especially as we’re red - and obvs so is discodog- so I’m signing off for a while. Time will tell what Lars is up to