Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
What I don’t understand is how the cornerstone investors are not currently buying at market prices. There is absolutely no buying going on and there hasn’t been. Have the board swindled a few more punters in this year with the ‘we’ve got big investors buying in a double the price’ message? It makes no sense at all and slowly the air is coming out of this one. If it was so cheap, why are none of the Chinese and asian investors gobbling the shares up?
Mike, I think you’re right tbh. They have delivered absolutely nothing in the last 3 years (probably longer)
I remember not so long ago we were bouncing between 1.5-2.4p, waiting for the big RNS to drop to propel us to the 20p mark that Align had us nailed on to reach.
Two years on and we have completely abandoned those projects which the board were sure to make us all good money. They have moved to the oil and gas sector (or have they?) as we are drip fed updates what feels once or twice a year and if the market we’re expecting something from this share, I fear we would have seen some sort of recovery to the lowly 1p+ stage.
I know you and cattleman were big holders, but I think Cattleman sold out some time ago. GL with whatever way you play, they fooled us all
Hi TLM, I know you’ve been saying for quite a while you’ll be scaling back here if the company doesn’t start moving along. Are you still happy with the board? I remember emailing SK in 2021 and 2022 and he said they will be delivering for all soon. Starting to think this is not what we first thought and they dangle carrots every 6/12 months to keep investors interested. Appreciate your thoughts. GL, Sniper
Just because they’ve bought something cheap, it doesn’t mean it’s a great deal. Is there a reason no one else bought this asset for cash? Corcel have a habit of telling us they have secured assets at a premium to the current share price. Perhaps the asset is not worth what they’ve paid, but it fools us PI again into thinking they’ve got a cracking deal. So they paid 0.004 for £800k worth of new Corcel shares. That sounds better than paying £800k at the current ask 0.003, but issuing closer to 240,000,000. It doesn’t matter how you spin it, the share price is still awful. They still have nothing to produce revenue near term.
Hi Mike, so potentially they’ve sold Mambare for (say £750k) Corcel receives the £750k cash. The buyer is the parent company (who Corcel owns a 50% holding in) so they technically still hold half of Mambare and also get a chunk of cash?! If that’s the case, great. I’m not sure why they would release that sort of news late on a Friday and why they wouldn’t make more of the RNS. As in, we’ve pulled a blinder here and we’re pleased to announce this is going to really add value to shareholders of Corcel… sort of thing.
Ed, apologies perhaps I wasn’t clear. I mean they no longer own the asset and its potential, but yes, there is some recompense for the asset they are offloading. I just hope it’s a good deal for shareholders. The timing of the RNS would suggest not.
Sansavatar, that’s what I mean. It’s gone / sold off / lost.
I won’t complete your sentence because the posters here won’t agree with my current views on this company.
I wonder will they also sell off WoWo and then the company is left with….
If the company thought the news were good, we might not have had it slipped in 40 minutes before the closing bell for the week.
As Mike says, there may be royalties but they have not really given much info which is annoying
Mcfnige :) with all due respect to the board (I now have very little) they also promised the same in 2021 and 2022. The board has absolutely no credibility.
I have a small holding left in the company, but as much as I’d like rockets and fireworks, we now have a new pumper on the board, who people seem to take words as gospel that this is going to 20x because of its MCAP.
I don’t think this is going to shoot back up to its former highs and we may end up with more fingers being burnt. I won’t be adding put it that way.
That’s my opinion anyway, let’s see what happens , but every year here feels like Groundhog Day.
An alternative view…
The MCAP is small because the board are clueless.
Having been invested in this one for a number of years, they’ve delivered nothing at all.
They pivot their business direction when they run out of time and excuses.
They are paying themselves handsomely for doing nothing.
The company doesn’t have any hope of generating cash in the near or medium time and they will keep releasing the RNS’s about rich partners and future drilling, hoping to pump the SP in order to get another round of funding in, which will keep them all in suits for another year or so.
How much debt does the company have now and how many shares in issue?
There’s a reason the market is steering clear of this lifestyle company.
Malik you care too much for someone not invested and not wanting to buy anytime soon!
Do you value your time so little that you want to type essays to help strangers here with nothing in it for you?
Sounds like someone who wants a lower share price or someone who probably missed the boat.