Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Stonk - you may well be right that the BOD will be quite happy with the SP in this region for the reason you say ie that it makes any sale price become a very large premium and therefore far more likely to be acceptable.
But there is no way that a BOD can control the share price beyond the news it releases. Thereafter the market will decide what the SP sits at through the demand for shares. As others have noted I believe we're stuck at this level until the end as everyone who has taken their positions for the sale did so quite some time ago. I'm not surprised the DFS release hasn't had much impact as everyone knew it was coming, so was largely priced in. Everyone is still waiting on the main event here.
Totally agree. We'll finish the day down, but I think we'll quite possibly be back over 30p by the end of the day. There are too many people who realise what we have at HAV, and a SP in the 20s is a bargain.
I'm in EUA too - sold half my holding to come in here. Glad I did, even though I had to sell EUA at a much lower price than it had been. I'm starting to seriously doubt that the mythical EUA deal is going to happen - in my experience AIM delays have never worked out well - so I'm glad to have doubled my money here in the past few days. That board is poison unless you're a ramper, so I tend to avoid posting there.
hoochy - there is not a single shred of 'evidence' to back up anything you've just said. No point shooting down others for no evidence if you're doing the same. Until the sale RNS lands, none of us know what is going on behind the scenes right now.
Disagree. Only real news was that we need to raise funds. We'll do well to finish level today.
Lesliez
Not at any cost, but there's also a commercial reality. If we didn't have NCM, there would have been huge dilution involved in even getting to where we are now, never mind actually going mining. I doubt the SP would be where it is today if we owned 100% of HAV but were spending those millions developing it.
They will also only get that extra 5% at 'Fair market value' so I think we'd have a decent idea what's there before selling that. Personally I don't think NCM will buy it and we will end up as a 70/30 JV.
I think your figures are conservative, but I agree with the sentiment that the initial MRE figure alone doesn't justify the share price.
What justifies the share price is that this MRE figure will be updated and increased as the months go on - we don't know what to, but it will be significantly higher than 3.4, and very possibly (probably) well into double digits. The markets and share price are always pricing in the future and they are expecting far more than the 3.4 figure announced. I don't think there is anything significant priced in for Scallywag, as although hopes are high it is still very much unknown. Should that develop into another JV with NCM, then that's where we'll see massive additional value.
The short term volatility doesn't bother me at all as I'm in here for at least another 12 months - unless life circumstances dictate that I need the money.
Seadogsteve re SYME
It's not really designed to be lent against that kind of (purchased) stock. Once the parts have been used up in the manufacturing process the supplier can't exactly get them back anyway. A good example given on that board is wine producers, where they can monetise all their stock from a season that might take a year to sell otherwise. Or any other company that produces or manufactures in bulk. I think once they finally announce that some customers are signed up that company will fly.
The only reservation I have is that their finance is pretty expensive, which has to be set against the current climate of cheap finance elsewhere.
There might be restrictive covenants on some of the directors, but given what they'll be waking away with I'm sure they'd be happy to agree. These covenants are generally only enforceable for a fairly limited period of time. Plus, it's pretty unlikely that they could easily set up anything that would 'compete'.
The share price should be irrelevant to the sale price as they're placing a value on the assets. The value of these assets doesn't change just because the share price has gone up or down.
I think probably 5 - need to see the results.
I don't believe the notion that we will 'go it alone' on SW. We don't have those kind of funds or expertise, and nor do I believe it's what GGPs strategy is either. I would guess SW will be a similar deal to HAV in due course.