Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Sort your reading comprehension out oftm. Matador was having a joke, as was I. Some of the comments on the dividends this week and how they work have been terrible on this board.
Great day for Seed, they've given £2m back to shareholders and the sp is the same as it was 3 weeks ago before they did that. I've taken all that cash in an ISA and I'm happy with it. As Barwick says, divi allowances are tiny this year.
3rd on the top fallers. ED nEeDS TO reSIGN
Another day the stock technically is up, £4m a good coffer to invest. There is a scenario where they also have exits in at least Avextra and hopefully Juv too within 12 to 18 months for good returns
Tbf Jungian Bill cashed his options in all the way down. Options have to be based on both market price and expectations to be a target for the owners.
Obviously both of those are terrible right now.
Wales already rejected one waste to energy project from SAE
Avextra is worth 165% more than they paid for based on a very recent raise and the former vice president of analysis is still at the company whom picked the stock. CFG has attracted interest at this early stage such as that investment is already worth multiple times what Seed put down.
There's £6m+ available in a buyers market. Look at Primorus this morning and over recent weeks. They got a big exit and are flying high up 2x + from their lows.
Volume restrictions have made it hard work Reefles. Let's get to the next one, it needs to be kept quiet (last one was front run and sold hard) and adjust that restriction
There's been a lot read into Landore RNS over the years. I'll believe it when I see it.
A ten bagger is still a disaster for many, can see why people would buy this right now. 8-10 bags just to get to drilling cost and they've been largely successful with the drill.
JB said it well, no one really knows what happened when they tried to sell the asset. Theories range from no takers, to too greedy, to massaged and unrealistic stats in the PFS. New and uncharismatic CEO brought on board to bring this up to scratch after the failed sales process and he stuffed up the raise.
The management being bought in was always one of the reasons to stay JB. I wish they had nothing to be honest, I'd have got rid of these way earlier.
It's damage limitation now, get back what you can. Bill's dreams of breaking even are dead; even if he put a chunk in now, if they're not Glenn isn't running this right. Pragmatism first please Landore.
I would have hope so hear something from Glenn as to direction. A JV seems the only option that might not be awful, short of trying to sell at something like drilling cost. Take £30m and move on.
A £3m raise is 50% dilution now anyways. Doubt a TSX listing will help, dual lists always just seem to drag one another down.
Looks like expectations for the EGM are low. No real surprise considering the company mentioned that holders could attend the meeting online but haven't posted how to do this. Amateur!
Can anyone explain to me exactly how this Bed and ISA process is worked? I thought the limit was 20k a year, 4 million x 2p is quite a lot more than that.
Low grade, lowest confidence intervals as inferred and indicated. Low cut off meaning some of that wouldn't even be viable to recover.
I had the same thoughts tbh, the 1.5m MRE certainly even at the time felt at least a little massaged to get that higher number. It was way ahead of expectations. It's fair to be able to question the rest.
My main hope here is said before is Glenn. He's ponied up on this and has the say on the future direction. Hard to see what that is though, because Claude's strategy was credible and he couldn't execute.
Bum deal in Canada was around $40 an ounce on low grade projects generally speaking, good deal 2x that
It was a said quite a few times last year that a bum deal would be better than no deal, and plenty of estimates of what a possible bum deal was were something around $40-50m which would be for the 900k Oz in the PFS. That point is more true now than it's ever been, a raise has to be the last last resort.
All the good points are the same still. It tier 1 resource jurisdiction, open pit, supposedly fairly short-term payback, supposedly easy to get the gold out of the dirt, it would be a short drilling program to bump up the confidence intervals of the resource. If multiple companies can be tempted to be interested in it even the bum deal is eight times a current share price. From what we've learnt since the strategy review, from what the company have had to say and what the LAG have said, is that there weren't even offers of the bum deal available. That isn't going to have changed, Claude couldn't even raise £3m at a paltry valuation.
I still think it's not viable right now, some posters here seem to be thinking that the project can go ahead in this current macro environment, but we're about to be in a position where for the first time since 2008 real interest rates in the bank are going to be positive. Investment is going to dry up and only the projects that promise massive returns we'll go ahead. It doesn't matter if you can pick up Landore on the cheap if it still cost you a boatload to get the pit going.
AM90, some great posts by you recently and over the years. They should have give you the CEO job!
Ooooooo I know. Management both massively increased their equity here and they still get their wages as a result of the company not going under. Win win.
Hopes and dreams have left the station. This is not a viable project in the current macro environment and will not be without changes outside the company control. It doesn't matter if the gold price is $2k if the setup and ongoing cost of a mine are too high. The first placement failing was the clear sign to leave.
Miles short Reefles, about 9m bought. Need to arrange another one in March realistically, they're still buying them under cash, definitely averaging under cash for what they bought.
Terms lacking ambition for me, there should be a second buyback while the SP is under cash for sure. Needs more bravery,even drop the max price.
TBF this NL move has to be the dodgiest I've seen so far. Doubt Seed are the only ones looking for an explanation
Straw clutching shouldn't be happening here now. If they had other discussions and options ongoing they'd have said so in the RNS. Landore is at the whims of the market now, it's going to need the market to bring it up. There's nothing else they can do.
CEO has a lot of questions to answer, honestly it's wild the pitchforks aren't out yet. This guy, his marketing director and new board members are all taking a salary, while this goes to a mcap that makes the next raise likely to come in at more than 50% dilution.