Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
stxx - you don't seem to accept any responsibility for your loss-making investment decisions, which are always someone else's fault apparently, but you think you're the D's B's when your investments make a profit. As a matter of interest, what *do* you accept responsibility for? The absurd criticism here of the one person responsible for enriching most shareholders in this Company is based on nothing but sour grapes. Remember that 75% of the dividends (£10.5m) went to shareholders unconnected to TB. The good news for shareholders is that the Rainmaker is still CEO
An investor who bought for around 11p in the first three months of 2020 - let's say the investor bought 100,000 shares for £11k- would have received £41k dividend in January 2021, and been able to sell their 100,000 shares above 40p for most of 2021 (some sold at 80-100p). This means £11k would have returned £41k-£80k to that holder. Many holders did just that and of course will say nothing here about that. The fact is, BRH was a huge money maker for many many shareholders. Millions were made literally. The commentariat here is totally unrepresentative
Sorry 34 trades totalling 4,680,851 so average £309 a trade -
There is only one major shareholder, the rest are in myriad penny punters hands. For interest, today there were 21 trades amounting to £10.3k in value, an average bargain size of £216, this is now typical. There is no wind to move the ship either way, the needle won't move on made up 'news' any more, The Micho/Castle/Poor/United banter is the whimper before the inevitable eternal silence
You will get no answers and they will bat away your questions and wind up the meeting as quickly as possible. The AGM is not really for boards to face shareholders, much like PMQT they are carefully managed to minimise any awkwardness. Let's play a game, ask me a question as if I were the CEO and I'll provide the answer..
Market cap has declined from £60m from when Mr Legge took the wheel to £22m when Mr Duffy took over to £4.7m now. Call me old-fashioned but isn't the idea to do this in reverse order?
There. Is. Nothing. There
This project has all the characteristics of a cash-burning start up. No products - quack. Unfunded expense - quack. No prospect of income or products in the tangible future - quack.
About working capital sufficiency. No responsible Board would wait until the 12th month and the last projected £1 before taking action. The future working capital concept is rather hypothetical, in practice if you can see a light at the end of the tunnel and it is a train bearing down on you, you will get off the line quite a bit sooner
Now that the share price is back where it was three years ago why don't shareholders call a GM and get the rain-maker back?
Even the straws some here are clutching at are virtual, there is no evidence or reason other than cash (what's left of it) to support a market cap of £7m, not one aspirational word of any announcements made in the last year has materialised....This is a shell, there is no interest in anti-viral masks, but that's ok because none are being manufactured, and as for Volz, really there is zero chance of something commercial materializing for years, meanwhile there are many actual suppliers of filters and related technology. But here's a suggestion, call Volz posing as a buyer of the filtration material and ask for terms.....and then call NNN and ask what their business is...share the answers here do
From RNS 29th December 2020. "Once the certifications noted above are granted the Company anticipates placing an order with Volz for 0.5m masks incorporating P2F's antiviral material layer. "
Volz have been involved since December 2020, when they were originally to be a third party supplier of masks made with the layer. Let's at least face facts when we debate things, there is no actual evidence of any commercial relationship between Volz and NNN other than the supply of a few masks 18 months ago, other than aspirations and intentions......
Surely the only conclusion an objective observer would reach (as opposed those those already invested) is that the CEO has declared the company a quasi-shell and is searching for an RTO. There is no mask or filtration business now, except in the hopes of incumbents?
The extraordinary financial conditions of the past few years are coming rapidly to a close, follow Bitcoin price if you need a canary, QE has ended, interest rates are rising and businesses will now increasingly be valued on realities ('fundamentals'). In normal rational times, i.e. most of the past 20 years, 'businesses' with no sales and no business model and only dreams in the balance sheet, would be valued at a discount to cash or hard assets. In NNN's case this would be around .125 (market cap £2.5m). Even so, why would any rational investor buy this when they could buy a piece of a real business at an increasingly compelling valuation as the bear market progresses. Gamblers only imho (though there are much better gambles around now)
The difference now is that there is real demand and interest in British made products which are of first class design and engineered quality. In the 80s the interest was deservedly sentimental rather than real. Chinese produced goods are increasingly expensive and, critically, of lower quality.
Most non chain supermarkets exceed that and make a clean profit in the process....should probably be taken private and shareholders released from their endless waiting for a jam laden share of a cake which never gets baked
"10p share price for £3m sales" shows how detached from reality people are here. 10p would mean a market cap of £200m