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Recent interviews I think have mentioned a due diligence visit on 11 or 12 April but tomorrow seems an additional previously undisclosed appointment. Would be nice if it was another investor although weather looks a little unsettled tomorrow afternoon.
According to the recent interview the prospectus is in a final draft version and soon to be submitted to the FCA.
Must be tricky finalising the document when you keep finding more high grade material. From three months to 6 months worth in just a few weeks.
Risk importance is only one half of the picture though, probability is the other. My current view is that whilst prospectus risk severity is very high/critical the probability is low. This reduces the overall risk associated with this issue.
Thanks SW10000; I know it is required but on the basis it is essentially a formality I don’t see all the excitement; it will come when it comes. Fixating on such a point just seems odd and, as you say, many other more interesting and important things going on at the moment.
I’m not entirely clear what the risk is associated with the prospectus. I’m sure it’s just ignorance on my part but the list of requirements seems straightforward and the company only recently released audited accounts which will just need updating. As far as we know there is no proposed public offering intended which should help reduce scrutiny levels.
It will ‘reveal’ the new share count but contributory factors were in the last accounts and recent orca loan Rns.
Past issues will have scared off a great number of more serious investors which leaves a higher proportion of traders and those more likely to blow in and out with the wind.
Solid production figures should start to win over some of the sceptics.