Member Info for TurboWillybags

best book i ever read: the art of execution

I think this is a decent long term play. Good time to buy after Musk’s tweet sent everything tumbling. Massive over reaction!

Have you ever tried contacting the BoD and hearing it from the horses mouth?

No, it in effect becomes a private company and given there is not necessarily a market for these shares you may lose your investment. I’m watching on the sidelines to mitigate this risk!

SuperMonkey do you have any view as to why TA voted against?

well i think it's good to assume the worst and hope for the best. one reason i could see TA not voting for it would be becasue the terms weren't good enough for shareholders. which for me is good long term, bad short term (for the shareprice at least).

yes r.e. CREST. I think SuperMonkey was talking about the deal. if TA is voting against the deal then that is a really big risk in the immediate term

how do you know TA has voted against twice?

Got it, thanks for clarifying. Ok so if TA votes in favour then immediately over 50% in favour, assuming only additional 11 pp vote. On the basis that it is unlikley to get more than say 50% of outstanding shares to vote, he has a disproportionate level of influence - it almost becomes binary - what TA says goes, so long as minimum 33% of shares place vote.

well - where do other private companies get funding from - still investors etc. you do not have to be publically traded to raise investment, it just becomes a lot easier as you can create and sell share capital (at the cost of dilution)

But think you're missing the point slightly. the bigger risk of becoming private is it becomes hard to get your money out as shareholder

As per the RNS, we need 1/3 of all issued shares to vote in favour of this resoltion. TA owns 21.96% according to the share holder information on the Ormonde site. This leaves 11.04% points (roughly 1 in 7 of remaining shares) to vote in favour. This is c. 52million shares or 5x daily trading volumes. For me, this feels achievable. Unless TA does not want the company to remain publically traded.

Also - the RNS does not include information pertaining to resolutions 6 and 8 - ref the deal. Is this because they are focussing on the most immediate hurdle, or could this be viewed with a more cynical lense?

For me - the key risks are:

- getting 33% of shareholdings voting in favour of replacment of CREST (low risk, high impact - company becomes delisted and at this point assume we don't get our money back - worst case)
- main shareholder not being in favour of the deal (medium risk, high impact - deal not done, no significanly value enhancement)

If we can move through these, then I see significant upside. But until we do, I think we will struggle to move north.

For example look at IRR - they release news of a scoping study of an asset leading to assessment that one of their assets has NPV of $345m yet the mcap is only £82m so what figures

I don't think 5p is unrealistic but it depends on the asset and what gets agreed. I think 4p is a more realistic short term target as there will be profit taking. Then possible consolidation and a move north toward fair value for the new asset

great positivity, but why would previous owner sell for 800k if such potential and having invested £60m already? Just want to make sure as your post is almost too good to be true (p.s. I'm heavily invested hence wanting to understand)

Where is WoodFromTheTrees?!

*WFTT

WFTF, the market clearly appraised the value of ORM to be 3p yesterday. Yes we know you think that’s 3x the NAV, but the market has spoken. Has anything fundamental to the value of the company changed since yesterday? Instead of labelling this a failure to deliver from the BOD, as an investor, I would welcome your perspective to share light on what specifically the delay means (i.e. what could the cause be) and what impact you think this has on the perceived value to shareholders. Always good to have opinions from either side. I get a bit tired of the over-rampers, but similarly I cannot help be a little suspicious of the rather constantly negative posters also.

MisterPositive, has anyone ever mentioned you’re quite positive? Loving the optimism, and am invested as are you! Keep it up and let’s hope the 8p forecast is bang on. That would make me a very happy boy.

New to this share. Could someone help me understand the implications of today’s RNS?

Yup