Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The share price descent this week has made me despondent Hawker. It says it's the market that's pricing in a dilutive fund raise, whether rightly or wrongly. Hard for one individual to stay strong and resist that weight of money. Harder for me than for you it seems, but your optimistic slant is appreciated and you make fair points. Additionally, I worry about what Mr Mills may be up to, with his well-known penchant for financial engineering... Maybe better for me to stop looking at the sp and worrying so much!
Another day, another 'good news' RNS, this one about the US Patent Office allowing patent claims, but the shares don't want to know. They keep dropping regardless. Just three days ago we were at 80p...
Market now pricing in an imminent dilutive fundraise to the exclusion of anything else. Ouch!
The Rights were tradable from Thursday 28/09/23, in theory, but on Barclays (who I'm with) they only became tradable from this morning. I've therefore lost a fair amount of money and I'm making a complaint.
Question to anybody on the bigger platforms: from when were you able to sell your Rights?
Has anyone had their Rights issued to them on the Barclays platform? Mine are not there, which is annoying as (I assume) the Rights price has been collapsing today.
Mr O, I'm with Barclays. I phoned them today and can confirm what LOT-13 says. They are aware of the corporate action and their people are busy working on adding the Rights line to the platform. By the way, Barclays only allow you to sell your rights or take them up (or do nothing but I'm not planning on taking the risk of doing that). They don't allow you to purchase additional rights.
Quite understand why you sold a chunk, but am glad you kept some too. As usual, I was probably too early with my trade - should have waited a day or two for things to settle after the results - a rookie error - but anyway.
Really tough times for RENX holders. All one can do is put it down to experience and hopefully learn from it. And of course the story isn't over... which is what keeps us in the game.
Well, I've added a few this afternoon at a tad under 60p. It's not that I think everything's rosy for RENX, very far from it, but am trying to reduce my long-term losses by trading my way through the volatility.... there are strong push and pull factors with this share, which I've managed to take advantage of once before in Oct 2022. Appreciate it's a dangerous game I'm playing but we're now not so far off those October lows, since when there's been a $20m capital raise (Feb 2023). I'm banking on near-term positive news flow to raise the share price from here. It's a gamble but I've got to try to get some of my losses back!.
Always appreciate the reasoned comments from SB and Hawker. One slightly more optimistic, the other slightly more questioning, makes for a balanced view!
I was going to mention the paltry sales, but it's been done better. I'll just add that with sales up 14% and cost of sales up 31%, gross margins appear to be eroding to boot. Why should that be? Operating expenses, expressed in the tens of millions p.a., are so hideously out of sync with revenue that I really do wonder if this company will ever become profitable or cash generative. Very sad about it. A partnership or JV agreement seems inevitable - if somebody will have us - and while that may not be dilutive in terms of share count it certainly will in terms of revenue and profit share.
Only crumb of comfort is we're not the only biotech suffering - it's an industry wide malaise with my DRDR Healthcare Innovation ETF down 35% in the last 2 years.
Unable to complete audit on time due to "technical issues" relating to the ConMet agreement. Suspension from 2/10/23.
Did I say holding this share is a white knuckle ride?
HallsWorthy, you seem to commenting as if you're a shareholder, but at lunchtime today you stated "I've pulled out what little I have left", so you're not a holder any more. Have I got that right?
Ah, may well be... no wonder the sp remains depressed.
Thanks jlovie.