Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
That’s right-hard facts
Now you tell me why the market cap is £7m when there is nothing in it other than a potential deal.Thats how spacs and RTOs operate and how promoters get free equity
I met Edelson because I was looking at reversing something into one of his shells.He had quite a few-hence his nickname ‘shellmeister’
He’s well connected -•look at Knutsford for an example of a shell going to £1bn of value with nothing in it.Of course, investors lost £1bn of value as a result
The point is this is a shell-it has £150k of net assets and a £7m market cap.The only conclusion you can come to is that the rest is hope of a deal transpiring.If it doesn’t, then £7m of value will evaporate.
You can criticise all you like-I just deal in hard facts and I challenge anyone on here to dispute what I have said above
I met Edelson 24 years ago.Ive also met the chairman and at the time it was a Kazakstan deal-ask him about it.
Whether you agree with me or not, the facts are the NAV at year end was c £150k and the current market cap is c£7m.Do you agree?Classic shell with hope baked in-in this case Sudan.Well trailed of course but the market for shells and spacs collapsed 3 years ago.They were all the rage 25 years ago and then 5 years ago-enough time in between for a new generation of punters to back them.
Now go and check the numbers and do let us all know if you agree or disagree thanks.
Net assets at year end £150k-cash £135k.
Market cap £7m
Ahem
I’m betting on a pre pack given the time lapse.Best case is a rescue deal at near zero value with opportunity to participate
Either way, good luck all-and I mean that
Worth a read
I met Edelson probably 25 years ago-he was behind Knutsford
This is a mini Knutsford-market cap nearly £7m with nothing in it other than hope and some ‘talent’
As I said earlier, be careful-this was supposed to be a Kazakhstan play, which didn’t materialise , and it’s now Sudan-according to the Karachi Gazette 😉
https://www.investorschronicle.co.uk/Standard-Articles/2021/03/18/LessonsFromHistory_SPACs
Original business plan at IPO was flawed and as I have said there is next to no margin in manufacturing cells.
Apologies but I’m just stating the facts.This is a shell, Eddleson(‘shellmeister)is involved, it was originally doing a Kazakhstan deal, it’s got little cash and it’s trading at a premium to NAV.
I didnt invest 6 years ago because it was involved in Kazakhstan, but it’s moved on to Sudan
Be careful
Well they are already in cash preservation mode-confetti printing
Show me one word in my posts which is untrue-meantime you keep smoking whatever it is…
It’s a firm buy for me-fill your boots
I’m not but I would if he finds a deal-I think there would be time to get in after the froth because they will clearly need to raise more capital via a Placing
It’s all starting to fit-‘shellmeister’ Eddelson is in on it.He was a big player in listing empty shells in the early 2000s
Well it was indeed nearly 6 years ago and the deal was supposedly in Kazakhstan
as i said, i’m not on twitter.im also not disruptive but i do like to ask questions, particularly after meeting this company i would guess 6 years ago.
its basically a standard list shell-standard list because at the time, you could list it with only about £700k of cash-a lot less than other exchanges.rules have been tightened up.
all i’m actually saying is that at the moment, there is clearly nothing in this shell other than a big chunk of hope and expectation and often that ****tail is worth more than reality
Just got my e mail confirming last Corallian cash coming in next week or so.The end of that journey
I’m not in Twitter/X
I’m not hacked off at all-if I had invested a meaningful amount in this, I would be locked in anyway through illiquidity.
But if you don’t want answer my question about what’s in the balance sheet , that’s fine
Reason for admin?They can’t pay their bills and it’s a criminal offence to continue to trade whilst creditors increasing
The other 39pc of equity has been used for what exactly?Show me the money/assets/anything?I can see a lot of scotch mist mind!
Is that because there are no activities?