Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
If they were from the placing though they would have needed to disclose their purchase prior to disclosing their sale. Maybe one of the other placings..... it makes sense for the placing guys to sell at this level - as they get their warrants for the upside - the selling cant and wont last forever.
Although i would rather he had bought in the market - but to put 50k in through actual purchases would have probably moved the price to 60+p
An effective £50k buy by the chairman. He could have taken cash but took shares at approx 50p - shows the value here.
Don't buy when something shoots up 400% then - you have a high risk of overpaying and then complaining you woz robbed. This is not gambling its investing - buy low sell higher. Anyway you are not worth the effort as you add no insight - filtered - you will make money on this over time - have patience or leave with a loss - but dont blame others for your decisions.
I dont recall TB "dumping" as you eloquently put it - he converted some conv loans and kept his net shareholding the same. I would have done the same in his position. Safy - its best not to try to mislead for personal gain.
My experience is they have to minimise risk of leaks and a disorderly market (ie some people having more information than others), so if a price is agreed subject to some final confirmatory pieces of due diligence, then i would expect some kind of announcement. for me, what is more important is if the price was not very attractive the board would not be engaging with AA - that gives me confidence at the current price there is a good chance of upside.
see my post earlier today??? AFC announcement this morning. Not sure why Ricardo did not make a similar announcement if a material collaboration.
Being a holder of both Ricardo and AFC, it is interesting to see how the different companies deal with this. Ricardo has had no post covid price recovery and despite a proven track record of engineering excellence is sitting at a market cap of 40% of AFC - which is mostly unproven tech (albeit with great potential). Funnily enough Ricardo made no announcement but their share price has moved more today than any day in the past months. I guess what i am saying is our management is responsive and shareholder focussed in a great market segment - we should be thankful of that...
Seem to remember the managers at Hadron Capital had previously worked at RBC - might just be a coincidence but could it be an old buddy indicated there was a likely success in debt application from RBC.... if not it sounds like a bit of a punt making that investment with someone else's funds....
Thanks Mr Hussain. Given no such update appears to have ever been given - i can see this consolidated information having a pretty positive impact on the price - up to the 65p placing price with ease. It will show a long series of investments in growth market areas. Information within the current vacuum will be lapped up by PIs. At 45p this is a no-brainer I have made around 15 top ups in the past 2 months so have quite a substantial holding here.....
@smacks - where does it say that $26 million of debt is assumed from existing facilities and does not to be raised? The sale and purchase contract which i assume you read, clearly states the purchase price is $4 million in shares and $50 in cash (net of deposits). Completion requires the payment of this. The assumption is COPL will secure a refinancing during Jan which will cover this position. I am sure they have been working on this for months already. If the debt was assumed as you state in the post then why would you pay it to the vendor? Just direct me to where they confirm 26 of the 50 is dealt with - then i will have learnt something.
Great links - the existence of these documents should be highlighted on the LSE announcements. Looks to me like the fund raise has been used to meet the $8 million end of Dec payment and COPL now has to the end of the month (unless both parties allow and extension - which i expect they would) to raise to $50+ million for the asset plus whatever it costs to buy out the remaining parties. That is all fine - and I am comfortable with my 11 million holding - but i wish the UK announcements would be as clear as the legal documents. If this proceeds - and i would hope Art was given pretty concrete assurances from the debt providers given he is putting his own cash in - this will be seriously quids in.
Why does COPL attract certain types? Did no-one wonder how did COPL get this opportunity. If it was that easy to raise debt to fund Atomic then i assume the previous owner would have done it rather than selling to us. Given COPL have no assets to act as security, it was plainly obvious there would be a placing - or something similar. He came out with the cryptic comment of no "equity sharing" which at the time I commented seemed a very odd term (but clearly not a placing). 25% down today does not matter to me - look at the uplift on completion which seems certain now - then think about Nigeria - the rest is just icing on the cake.