Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
maybe I am way off but it could be related to whatever they have in mind for Molopo, the rumor of some sort of merger with POW and add to that the cryptic tweets by Ben about working across time zones followed by flags of countries where POW projects are located
I guess I can only blame myself for putting too much value on Ben's words instead of his actions. He is a great talker and presenter. If I look at his actions however the red flats were and are definitely there. The placement days after he publicly said they had more than enough funds, excercising the out of the money POW warrants and defending it by saying it spreads balance sheet risk (my goodness we lost more than 40% on this in 6 months), issuing 2m warrants to lvr so it increases exposure (what, where, what is the status anyways), the recent radio silence followed by announcing the drill miss, and next one up issuing a boatload of shares & warrants for molopo while we have unproven technology and more than enough land. Very frustrated
BT on Twitter defending the radio silence: " Until we knew anything definite all we would have reported would have been incomplete info"
Also BT, within hours after this tweet, sends out a RNS with PRELIMINARY petrology results
Seriously what is the deal with this option. Exercise, no exercise or another extention. Definitive as it gets if you only care enough to tell us. -40% since he became ceo says it all. No market credibility.
Fair points metalhead and I have to agree. It is just the same story of ever increasing potential since the ipo. Have to find something at some point and looks like re drilling this b target will be more than 6 months away at this rate
So they drilled the A conductor based on Tdem.. missed. now they drill B conductor... again a miss. And as if things are not already complicated enough on the ground we already have they consider taking on more land... based on that same tdem. Ben's behavior also with al the hires shows every sign of an empire builder. I would be very disappointed if they excercise that option
the more I think about it I find it hard to believe they are sitting on huge news and still be trading. That is in breach of market rules. They should at least have gone into suspension. Regulators will argue that if they have the time to ask for an extension they could have also informed the market on whatever they are sitting on.
Also how would Kalahari key feel if they are to receive less shares - they should have an idea of the reason for the extension and they would not have agreed to it if the result is they receive less shares
That is definitely a positive scenario. But it is also possible it is unrelated to B1 and they are simply waiting for / interpretating the results from the work they did at Molopo before making a decision. For me either scenario is positive because it shows they are not blindly exercising the option
Assuming the 10 Day vwap is under 5p they end up issuing more shares (gbp 1,107,000 divided by the vwap) which suggests they are not sitting on good news (not necessarily on bad news either) or they have already decided they won't exercise the option
Anyone knows if they are still participating in the 121 event and talking to qualified investors? How would they be able to talk to investors for three days without giving away implicit or explicit clues about the status of the drill program?
Online emea 121 event starts tomorrow and according to website KAV will be hosting investor meetings. Assuming they haven't pulled out this suggests news today or tomorrow morning?
https://www.weare121.com/121mininginvestment-emea/mining-companies/
Another week would go by without news. Strictly following the rules for disclosing sensitive information is one thing but - required or not - I think they should have had the dignity to tell us something by now. After all the pumping. Seriously Ben, good, bad or mediocre, we are all big boys / girls and we can handle it. Best investor relations in the city yeah right