Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
"Either SUCCESS OR FAILURE, just choose one QED, because this whole story about our wonderful is just plain boring now."
Why would Smirker Miles choose failure, while he can keep rinsing us mugs for £millions. He's pocketed the thick end of £100k since his BS December nonsense. He may be a globally renowned Chemical Engineer but as a CEO he is proving to be an absolute clown, except not a funny one!
I'm beginning to see this as a scam rather than a life-changing opportunity. Is there even a Moroccan client? Did the trial actually happen? I've always wondered why a potential client, looking to improve their environmental credentials, wanted to remain secret. Normally companies trumpet their green credentials from the rooftops. Perhaps it's QED who want to keep this supposed client secret, so they do not de-bunk what QED have been saying. It's all very strange to me, constant delays followed by excuses then nothing. All we have left to cling to is JM's word and we know how reliable that is!
And no! I won't be selling up and moving on, until I decide it's the right time!
"to secure the 50% + 1 share required"
75%
It would need 75% vote to sanction delisting, however a buyout would only require the purchaser to secure 50% +1 which gives them control of the company. If successful, they would then have to offer the same price to the remaining shareholders, should they wish to take up the offer rather than be at the mercy of a new owner who has control of the company.
Also, a debt backed de-listing buyout is also very unlikely and there are little tangible assets nor any income to secure the debt against!
No, any de-listing/takeover is going to require someone with deep pockets as the offer would probably need to be significantly over the current SP, to secure the 50% + 1 share required.
A company listed on AIM must follow de-listing rule 41;
"An AIM company which wishes the Exchange to cancel admission of its AIM securities
must notify such intended cancellation and must separately inform the Exchange of its
preferred cancellation date at least twenty business days prior to such date and save
where the Exchange otherwise agrees, the cancellation shall be conditional upon the
consent of not less than 75% of votes cast by its shareholders given in a general meeting.
15
The Exchange will cancel the admission of AIM securities where these have been
suspended from trading for six months.
Cancellations are effected by a dealing notice."
Given our BoDs paltry shareholding, there is no way they could do this without shareholder approval. A more likely scenario would be a de-listing coupled with a buy-out offer, or tender offer, (as per Viston offer for Petroteq).
"Wondering which one it will be though, funding or agreement…"
IMHO, if it's funding, (by the usual begging bowl to LTSH) without agreement, they could really struggle to raise significant capital. I really hope that doesn't happen but my patience is wearing thin waiting on this (December) announcement.
"Wonga I ask myself how many opportunities come around like this in your lifetime. So I decided to make the bet a little bigger"
I did the same some time ago. Has the potential to be truly life-changing for me and my children. Potentially very exciting times ahead???
Logging in every morning in anticipation of the procrastinated RNS announcement is becoming tedious and a daily disappointment. As others have indicated maybe "more than a trial" negotiations are causing the delay, who knows?
It is however, pleasantly surprising to see the SP holding up well. I certainly expected it to sub 2p with no news by now. Maybe a reflection of the lack of selling demand??
Pleased to see the SP holding up well and I fully expect a bit of a tick up immediately prior to the big RNS release. I cannot believe all the senior staff, lawyers, para-legals, secretaries etc. all involved in the formulation of this tripartite agreement will not discuss with friends/colleagues/family. There is bound to be some "slippage" resulting in buying prior to the release IMO.
I guess the counterparty lawyers must work with the same urgency as Moroccan customs officials??
Or is it yet another pile of oxcrement fed to us by JM to wriggle off the hook at the AGM. The now well overdue announcement better include funding provision as IMO any attempt to raise funds prior to the announcement will be another failure.
As ever with Quadrise, we'll just have to wait and wait and wait and see!!!
I fully expect the fuel agreement to be signed next week and if so, expect to see the SP rise to 5-6p accordingly. If any RNS appears also confirming funding arrangements then I can see 7p+ by end Jan.
On the other hand if no news, then I would expect a SP of around 1.8-2p, possibly dropping to under 1.5p by month end. Very interesting "rest of the month".
I recently sold a small proportion of my holding with a view to supporting a future fund raise, without increasing my overall shareholding. However, should an attempt to raise funds via an open offer happen prior to the announcement of the Tripartite agreement, I will have serious doubts about supporting the raise.
I'm beginning to wonder if the "big players" we're supposed to be partnering with are deliberately stalling to try and place Quadrise in a distressed position, in order to be able to sign us up under far less favourable terms. Nothing would surprise me where corporate greed is involved. We know the sums involved to keep QED operational are miniscule for MSC and their ilk, (probably enough cash down the back of their boardroom sofa?) so hopefully they will be supportive if required and genuinely want this project to succeed??
I guess we'll just have to wait and see and make our decisions based on what is presented to us