Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
I think the environment has changed for mining juniors as well. They’ve made plenty of mistakes too, but hindsight is a fine thing.
£100m must be a minimum sale price for the company and they’ll be trying for more.
DOID hold less than 40%. If a decent offer comes in, the 60% holders will accept.
I would accept 4p as a get out of jail and move on with life bid. 6p and above would bring some satisfaction - albeit a painful satisfaction for the years of disappointment holders have been put through.
So they don’t own 66%. Therefore they don’t control the company. I think the company realise it’s time to sell before there is nothing left. Fingers crossed they are successful.
Net asset value is relevant if they are selling to a bigger player. Which I hope they are.
The right move for shareholders, because project funding is clearly going nowhere.
All those years of planning to get to the point of building the mine, and it was a massive fcuk up. Monumental, unforgivable, incompetent, shameful fcuk up. You shouldn’t be able to get it this wrong and be allowed to be a director of a public listed company ever again.
300 million market capital to nothing in a few months.
It’s dreadful… So many lies.
Lots of interesting points raised in last few days. Plenty of voices supporting the notion (with supporting reasoning) that administration would be bad for the current cornerstones (and banks). The other point I liked is that actually all the cornerstones don’t have to agree a plan - two cornerstones plus the retail investors carry a shareholder vote. I’m a realist, I know there is a strong chance existing shareholders may get wiped out one way or another, but they might not. It’s a hold from here for me. More to lose than gain from selling down here in my opinion.
But Blackrock are progressing their project whereas ACP are not. Something has to change here.
Tanz gov are notoriously slow. ACP clearly underestimated the speed of progress.
‘More importantly, the Board is re-doubling efforts to secure long-term project finance from a reputable provider to generate a clear road map to commissioning commercial operations."
How do others interpret the statement above?
If they can’t raise the money at the present time because of the well known reasons - copper price not particularly favourable, interest rates high, concerns over Chinese/Global economy, Asiamet should cut their costs and hibernate for a year until the outlook improves, and avoid the need for a further fundraiser. A raise at this level will indeed be highly injurious. Priced to fail at present. Up to management to show us and the markets otherwise.
As they say, the solution to low nickel is low nickel. Plenty of nickel mines closing around the world which should solve the over-supply problem.
Any predictions for timing of next news drop here?