Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Bang on!
He's basically saying, we await confirmation of financing for any of the three potential Utah projects. Not one inch further forward on any of these projects as far as we know. Much hype over nothing...
Not sure he meant to say Greenfield, he quickly followed it with Heavy Sweet Oil or Ecoteq so might JM was a bit fuddled in his memory?
Surely funding achieved would have to be RNS'd to the market
With the "green" prospects of our future development fuels, it beggars belief that the UK Gov are not willing to get behind such initiatives. Also there should be more interest from Ethical and ESG funds wanting to get on board??
"It's exactly the right thing to be doing if we have the resources to accommodate them"
Couldn't agree more, unfortunately we don't have any resources! What little left in the coffers will soon be gobbled up by the huge overheads we have as a pre-commercial company.
"What I do not understand is with all the good news, why SP is where it is???"
Let me think.....I have been invested here for around 12 years, during which time tens of millions of pounds of investors hard earned cash have been spent trying to develop (and commercialise) a fuel. So far we have failed to deliver the latter.
Despite not spending as much as usual, the money is still running out, FACT. There has been no information on how this cash will be replenished, other than "plans in place". Well we all know how well our "plans" have worked out so far.
I think it's obvious they will soon be out with the begging bowl again!!!! The market is anticipating this and the SP is falling accordingly. Back down to sup 2p we go but hey ho, we've got new science experiments to conduct which will save the planet and turn us into a blue chip company LOL
Wow, great! Yet another collaboration, involving more expensive testing, trials and agreements.
Before we agreed one commercial contract on MSAR, we start developing/punting BioMSAR, singing its praises to anyone who'd listen. Now, before we sell one commercial contract for BioMSAR, we're at it again pushing for BioMSAR Zero.
For goodness sake! Sell something/anything before going off on further tangents.
First class scientists, terrible businessmen and it looks like the market agrees with my frustration....
Crownos; "I personally think Tomco should completely dump their strategy to get funding for two 5k bpd plants and start small and work up with Vivakors 250 bpd train RPC tech, which they could very easily get funding for."
What makes you think they could easily get funding? They have been trying for years to get the funds to buy the remaining 90% of the TSHII lease, without success. Heavens, they even had to borrow from Valkor to buy the original 10%. No one is going to lend these amateurs the funding required, even for a 250b/day plant.
"I don’t think JM expected a re-rate on the back of the limited ‘news’"
He said something along the lines of the SP should see a re-rate when they see the calibre of the companies we're partnering with.
Well, we now know who they are and the SP has gone nowhere. Once again our Pollyanna CEO gets it wrong!
Kitkateat - the expert on all things Cargill apparently??
"Cargill has acquired 42 companies, including 11 in the last 5 years. A total of 8 acquisitions came from private equity firms. It has also divested 22 assets. Cargill's largest acquisition to date was in 2021, when it acquired Sanderson Farms for $4.5B."
"To Cargill, buying us out when everything is proven would still be backpocket change to them,"
Same for Shell and MSC and no doubt many others. Could be a bidding war, (I hope!). If one of these giants want to get ahead of the curve, they could move quicker than LONO end.
Remember the majority of shares are held by PIs so they (whoever that might be) just have to come up with an offer tempting enough to secure a controlling stake. Who knows when or what that hypothetical offer would be???
It's obvious to expect "project expenditure" to be lower than budgeted for as our projects have all been delayed, time and time again. Still have expensive salary costs to meet each month though, so funding very much remains a concern if not in the immediate future.
Given the financial clout of our global partners, I would hope we'll be able to raise capital from specialist lenders without punishing dilution at this joke of a SP.
While delighted to hear of our "partners" in the agreement, I am underwhelmed with the lack of positive effect on the SP. Sadly, it always seems to be this way now, as if some strange force is subduing the price??
Having listened to the Director's Talk interview, initially all I heard was next few months, next few months, next few months....... Although a crumb of comfort in the suggestion they have been conservative in their spending of remaining capital.
With the 50p and £1 nutters out in full force, to provide some balance here's what I read into the situation.
MSC trial will not commence in Q2 and depending on further delays maybe not this year.
Moroccan client??? will request further testing before committing to a commercial supply contract. Again not by mid-year.
Utah/Valkor, continues to move at snail's pace, no funds from there first half of year.
I seriously hope they have more or less agreed II or Investment Bank funding of at least £6m as that's what I believe will be required to get to commerciality. Without some really positive news in the next few weeks, we'll be lucky to make it to 10p this year??
I'll be delighted to be proved wrong though!!!
"JM needs to not mention anything for at least a week whilst HE1 does its thing. haha."
I think you're pretty safe there. I can envisage this year's AGM, (if we survive long enough to have one?) we'll still be discussing how close we are to a Moroccan contract, Valkor money and the imminent commencement of the oft delayed MSC trial!!!