Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Darryn has been good for sure, but he’s come in at a tough time (in terms of the macro environment and the company’s reputation). Clearly he has confidence that this will (eventually) get over the line as he is putting his hard earned cash in to it.
The following part of the RNS is the part that encourages me the most. Looks like they actually want to rescue the company not pull some fast one over the PIs. This should gap up in the morning IMO, feels like a de-risking step.
‘However, the board sub-committee shall oversee both (i) decision-making in relation to the funding solution; and (ii) the approach taken by the Executive Director, to ensure that conflicts of interest are adequately addressed and the Executive Director is acting in the best interests of the Company as a whole, taking appropriate account of the interests of all shareholders and creditors.’
The following part of the RNS is the part that encourages me the most. Looks like they actually want to rescue the company not pull some fast one over the PIs. This should gap up in the morning IMO, feels like a de-risking step.
‘However, the board sub-committee shall oversee both (i) decision-making in relation to the funding solution; and (ii) the approach taken by the Executive Director, to ensure that conflicts of interest are adequately addressed and the Executive Director is acting in the best interests of the Company as a whole, taking appropriate account of the interests of all shareholders and creditors.’
Do you think? On what? They’ve already told us progress will be next year not this year.
Good to see 20k of sells knocking 2 mil off the market cap…
So what you mean is if the Asiamet management can’t get the mine financed, and run out of money, DOID will keep increasing their holding until they have over 50% holding. So the BOD are in control at the current time, not DOID. They do need to get the project financed now though.
Let’s hope so
Steven, you keep saying ‘DOID are in total control now’. Please explain this. They do not have a 51% shareholding, not even close. The BOD are in complete control. And you are talking rubbish. Feel free to correct me.
I think they are also finding the timing inopportune. There was a reference to wanting interest rates to come down, but that could be a couple of years realistically - surely they won’t drag this out that long? They must also want the copper price and general market sentiment to improve. It had better be 2024 for Asiamet, patience can’t last forever.
Looks like another deadline will come and go - latest company podcast
https://www.youtube.com/watch?v=3ENRV5CrerE
Q1 for debt financier announcement (which likely means Q2), with no offtake announcement until debt financing secured. Not great. Will they ever deliver…
Would really like some concrete good news from Asiamet before Christmas. We’ve been promised lead bank announcement before year end. Here’s hoping…
Copper’s up 3% in the last month.
Not ugly at all. But nice try…
The last progress update promised a Lead Bank by year end.
Could really do with either that or an offtake agreement to start to move this share again.
Nothing less will do.
I do think better times will be ahead for this share and the wait is drawing to an end.
I agree. What is actually happening with this company? It remains my belief that they are in possession of information that is essentially market sensitive but which they are not strictly obliged to disclose, so they are sitting on.
I have emailed Matt Bull about the Feed study progress. Response - none.