Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi GB33,
I agree with you that the board investing their own money without some confidence that this will eventually come good would be madness. I simply do not think they (particularly TB) would have done so - regardless of how small their recent investments may have been in terms of their overall wealth. Our board have for years not invested significantly in this and only recently decided to do so - does that mean we are getting close to something resembling the end game?
I think we are at the point now where the only thing that will move this share price in a meaningful way (in the absence of TO/JV) is funding news that secures this company's long term future. I.e. complete removal of the doubts about us continuing as a going concern. Getting that kind of news is probably dependent on us getting through TEO and DFS first, so in the meantime it doesn't surprise me to see the price drift lower.
I have personally been invested here since 2010 and have an average price of about 6p. I am trapped though because I cant give up now having held for so long (there has been a massive opportunity cost) and it would be unbearable to see it reach its potential in the no too distant future if I had sold out.
Good luck all.
Hi Frak,
I know nothing about EMX other than what I have just read on the link you attached, but it does seem that AMC in its current stage of development would be something they would look at (if their involvement with IG copper is anything to go by). I guess TB would have been keen to involve them if this is indeed their sort of investment.
Who knows but is does seem logical.
The good news, so far as I can tell, is that if it is them they appear to have held on to their shares in IG Copper. An investor here would certainly be welcome, notwithstanding the bargain price they secured.
Good luck LTHs
It states that additional funding will need to be secured in the next 2-3 months. It also states that "the Directors are confident that alternative funding will be secured and the revised terms of the convertible loan will be agreed".
I am not sure if they are looking to revise the terms of the convertible loan as that happened earlier in the year.
Having checked last year's interim results, that same sentence is visible, so perhaps this was a result of a copy and paste exercise and should have been edited?
My take on this is that AMC has submitted all the necessary info to Oreol for them to compile. Therefore, whilst the deadline for the TEO to be submitted is December 2020, we might find that we submit ours before then. All depends on how quickly Oreol can do the work.
I agree that there isn't much in today's announcement that we didn't already know, but isn't it good to hear from the company that the necessary work is being completed?
Just need to stay patient with this, we'll get there.
A further thought on the Updated PFS, TEO/DFS, given that we really haven't had any updates of any kind on this for some time, does that very fact suggest that their attentions have possibly moved elsewhere?
I think in the past we were keen to give the impression of going it alone and diligently updating the market on mine plans, cost estimates, roads, resources and all the other things that go into the PFS, but that no longer seems the case.
I personally don't think this is just a factor of there being no field season as surely the staff needed to update the PFS etc would have been kept on to keep progressing the documents?
I think your interpretation is spot on, GB33. That's how I see it too.
The involvement of Tom Bowens is certainly interesting and positive as it does suggest something could be happening behind the scenes, similar to Malmyzh, but at the end of the day all we can do is speculate at this point. His purchase of shares is definitely a vote of confidence in the prospects for AMC though.
A lot of shares have been traded over the last few weeks and as some on here have noted, in some quite large deal sizes. It will be interesting to see if someone has been building up a position quietly over the last few months or so, when seemingly appetite from PIs had more or less dried up (until recently perhaps).
If, however, no deal is forthcoming in the short term, does anyone know if we still working on the TEO/DFS (let alone updating the PFS)? I suspect not given the silence. Though surely in the normal course this would be required before any construction can commence and more typical finance arrangements secured?
I have time on my side so can wait for this to develop, but man I am longing for a return to the good times when the bid keeps moving ever upwards with the promise of perceived value being seen at last!
Pure speculation on my part, but does it not make sense for the two companies to share infrastructure (and the associated capex requirements). We know that having our own smelter vastly increases the NPV of the project and the same will be true for IGC. Cost synergies are beneficial for companies to merge.
Imagine the improvement in the NPV if the cost of a smelter can be reduced owing to both companies contributing towards the initial capex.
I know I am projecting way ahead of today's announcement, but it does seem sensible.
I hope you are right TDT, we could certainly use some encouraging news here.
I have been wondering what reasons could be behind the lack of updates from the co, and these spring to mind:-
1. Nothing to report - I would think this unlikely given the outstanding updates on last year's drilling
2. Not in a position to report - still waiting for numbers to be checked/verified independently.
3. Numbers give rise for radical change of plan, but surely they could tell us this if this was the case
4. NDA. I would love for it to be this, but I dont believe it. However, as you said no so long ago, if someone was building a position, surely the price would be rising. Or, if they are just soaking up Riverfort's shares, I guess that would be a good way of disguising the early stages of a position build here.
Sav