Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hope this does at least as good as JOG as I missed out on that one at the time. Just got partially filled on my morning limit order but only for 2.5k shares for 30p. Better than nothing. I know. Don’t know if it is showing yet but will no doubt show as a sell when it does.
Yes even small buys seems to have an impact here, that's why I was trying to get my buying over and done with. Like you say, just one large contract and there will be no holding this back. It very much reminds me of JOG. Totally different industry I know, but a good example of what happens when you deliver good news on the back of a small number of shares in issue. Just a waiting game now!
I have been trying to buy more of these for my SIPP since last Friday morning, but kept getting kept getting NT to deal. On Friday afternoon when the spread was 24-26, I decided to put a limit order for 30K at 26p. While this deal was executing, the price went up to 26-28. I then put a second limit order for 30K. This got filled at 28p at 15:41:16 on 30th. Strangely my first order got partially filled with 5K at 16:17:50 (this was a delayed buy not a sell as shown on the books). Anyway I decided this morning to get a final tranche, so placed another order for 30K for 30p first thing. Again, within 10 minutes of this trade 'executing' the price spiked from 26-30 to 30-34. I am still waiting to see if anything got partially settled but I doubt I will get any this time as the price spiked too much this time. Anyway, it may be coincidence, but I find it strange that placing limit orders seems to impact the price like this? It certainly helps to explain how this share got manipulated down so quickly if this is the case!
From the interims: Cash and cash deposits balances at 30 June 2018 of $11.9m (30 June 2017 $18.2m). That's $6.3m reduction in a year, and at that rate they must be down to less than $9m now!
You can call it cash burn or "massive expansion of R&D to deliver new concept products" as Tracylied points out. The bottom line is they will continue to burn through this cash quickly - if you don't think so you are very naive. That's fine so long as deliver game changing contracts and is why I'm here. Everyone keeps going on about sells bringing this down but there is no real evidence of this if you analyse the trades. The market clearly doesn't have faith in the board's ability to deliver future growth which is why the share price keeps dripping lower. The market cap is just tracking below cash value and will continue to do so (in my opinion) until we get some significant contracts. So if they manage to prove the market wrong and deliver on these this will fly. On the other hand, let's not pretend this company will be around long if they don't start to deliver on these contracts within the next 18 months.
Hi, I took a position here around two weeks ago at 20p. I see this going one of two ways. Either the board continue to burn cash at over $500k a month until Q2 2020 and then disappear. Or, we start landing some major contracts the share price multi-bags.
I am prepared to take the risk as I believe the upside far outweighs the down and also due to the relatively short time frame involved - we will know by Q2 2020 at the latest.
Pros:
1) Multi-billion $ industry - we won’t need many decent sized contracts to tap into this.
2) CEO, David Levi, has past track record of delivering success having sold Broadlight for $230m.
3) Only 32.56m shares means this will fly on good news.
4) Over 82% of shares held by the board or II's - good stability/confidence. Again, fantastic if we get some meaningful contracts signed.
5) Market value is below cash value.
6) Enough cash to see us through to around Q2 2020.
7) IPO price valued the company at £45m just last year and plenty (including II's) bought in there.
Cons:
1) It is likely the company will be wound up mid-2020 if not enough meaningful contracts signed before then.
2) Board has terrible communication skills and seem to treat the shareholders with disdain (Why haven't the II's addressed this?).
3) Based in Israel so lacks transparency/trust.
Until we see some genuine progress, I think the market is, and will continue to value this company below cash value. This is based on the lack of progress (future earnings) and poor communications from the board as well as being based in Israel. This will re-rate in an instant if we get some significant contracts signed.