Suspension lifted later today re RNS but it doesn’t state the time, presumably after 4.30?
A reassuring interview, very clear explanations, no waffle, no excuses, and good to know a further $1m received this month from the Chinese buyer. Still need patience but no real alarm bells for me and see where we are by October.
Just read that the lawyer acting for 2 women ( who have made allegations against Crispin Odey) have contacted the FCA saying that Odey Management should be told to retain sufficient funds to pay any damages that may be awarded if the 2 women are successful. Mmmm not sure what to make of this re Miri but thought I’d share the info.
Careful everyone, IP Group still has circa 10% and might not have finished selling. Also Odey as a potential distressed seller might also start to dump - this could be a real sh•t show more than it has been so far.
Looks like we’ve reached the bottom, this has had a mini bounce and settled around 12p. Expecting a more sustainable recovery in next few days as all bad news now out hopefully. Simon Thompson was wrong in Feb (although only saying with the benefit of hindsight) and he’s wrong now. Why would you bail now and crystallise losses, it is this time(not in Feb) that this is a recovery buy IMO and DYOR
Neil, usually you judge these things well, but in this case, if the seller is Odey and they were starting to offload, they had a 16%+ shareholding so there could be further drops yet. No TR1 so far so hard to say for sure.
Interview with Darcy on Proactive this morning. I wasn’t convinced I have to say. He seems more focused on climate change etc than profit and revenue generating for shareholders. He even talked about non revenue activity, what’s the point of that! Revenues are p*ss poor and looks cash light. Call me cynical but I think increased contact with shareholders going forward is to soften us up for a placing and given paltry income streams it could be heavily discounted at that. I’ve sold a chunk this morning and taken a dive as I got caught out near the top of the last pump. A lifestyle company if ever I saw one
Ria, don’t be daft, they know the reason and so do we. Odey Fund is a distressed seller and is offloading. This will become apparent when we eventually get a Tr-1. This offloading will take time and will be a drag on the SP. Same thing happened on Shanta Gold which was around 12p a share but got dragged down to around 9p a share even though the gold price is still above $1,900 an ounce. There hasn’t been a post Odey bounce yet on Shanta but if there is to be one I think it will precede any post Odey bounce on MIRI unless we get an update with some good trading news. MIRI is one to watch but IMO it has further to fall as the Odey offload has only just started. That’s my reading of the situation but DYOR. I’m stuck with a 4.20p ave (ouch) as I got caught out near the top of a pump a couple of months ago so the sooner this recovers (and it should eventually as fundamentals seem strong to me) the better for my financial position, but as ever, patience needed.
Might be Odey Fund selling, hope so, buying opportunity
To be fair he is not an insider so he can only use material that is in the public domain. I’m thankful for the effort made and will keep an eye on this, could be a good prospect and fruitful for an early investor. Just unsure how successful they will be in avoiding placings despite stating they don’t intend to dilute shareholders.
It’s crazy, a 50m share buy late on yesterday and a 25m sell earlier today. I haven’t got a scooby what’s going on here. Anyone make sense of this?
Agree with most of your comments Agricore and I’ve just topped up at just under 0.75p. This brings my overall average to 0.97p DE paid 1p for his shares. I honestly can’t see the downside at these prices as cash to come and no debt. Also possibility of a dividend but I’m not expecting it so would be a nice bonus. Why do you think a takeover may happen and if AMS buy within 12 months they have to offer at least 1.5p I believe? What am I missing?
Overall I think it is a good update but this requires patience as the projects in the pipeline take time to initiate and generate revenues. I expect the SP might drop initially as those not wanting to wait this out will offload. Disappointed no more proceeds in re sale to Chinese but reasons given to not terminate make sense. Keeping this is the bottom draw for now, upside to come in the future and it seems to me the downside risk is minimal as there is no debt and a placing / cash raise seems unlikely
Good interview with AP on Total Market Solutions, Sarah Lowther certainly put him on the spot and asked all the right questions. Maybe I’m a fool but I believe this will be sorted and it will all come good, AP did not have to do that interview and could have just kept his head down. No penalties on the debt and the diamonds exist.
Doubt it, just like in the UK, the public sector in Zimbabwe needs a rocket up its posterior otherwise time just passes by and nothing gets done. In view of financing urgency AP now in rocket mode,
Baffled as to why SP has dropped to below 25p, presentation started so we may find out why!!
It’s just the auditors not being able to meet a deadline, a bunch of lazy bs who probably “work” from home. I doubt it’s anything fundamentally wrong with the accounts, I mean, I hope not, how much worse could it be? A top up opportunity IMO but DYOR and I’ll count to 3 and pray.
It’s the year end date tomorrow so we might get something next week, here’s hoping…
Me being lazy, but where is the info that sets out the terms of the options? They are nil or low cost but what financial achievements are needed before the options can be exercised and the directors get the shares? I’m OK if they are rewarded for performance as long as the financial targets aren’t soft
Yes this could be the Nicola F effect but also I think there may be a lot of unutilised hours re chargeable staff up in Manchester as the transactions work may not be as voluminous as they would like. Might be wrong, if I am then this is a bloody bargain at this SP IMO and could easily double from here. The SP went mid 50s after the last update which was not that long ago!