Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
10million in a month is a loss for them
Bond... clearly it was and thanks for proving my point.
Oh no worries neil and i do feel for you. I actually thought their might be a spike or 2 but there have been a surprising amount here (i think mainly through blind greed) who were talking about this getting huge returns and more saying it definitely wouldnt go into administration (not you). Which anyone who knows the industry well knows was almost certainly going to happen. I would put money on knowing exactly who the interested parties are.
Gordon many of us in the industry have been on here warning of this for weeks... no one listens. Its like some investors think they can just look at the numbers and know everything. But when someone with 20+ years in the industry tells them more info its just dismissed as an opinion along with everyone elses who know nothing more than the public statements. Even yesterday people were on here not listening and i point blank said no one in the industry will touch this before administration.
Lol me and neil WERE saying this at 12p. It was always going to administration
Exactly mr magorium. The assets in current market are worth between £10m and £15m depending on how you value them. They generated losses of 7m in the first 6 months of year and september and october have been worst on record in industry so likely approaching £9m loss now november will likely be quiet due to low comsumer confidence and december is always dead so by january they would likely be at £11m to £12m loss this year alone. On top of existing debt... those assets are gone.
I have not heard any rumours in the industry if a buyer. Not one
Well ghosthunter definitely doesnt
What mr.m said below. I cant see how he thinks its possible as you guys think this is gonna be a happy ending and i think its got administration written all over it.
Lol i literally disagree with ehat they are saying. This has administration written all over it that doesnt mean i think this is a bad business. I also said that the weeks sales means nothing where they were making out it was a massive deal. I have been saying exactly the opposite of them
Lol literally every single employee will have known this number as well as god knows how many contractors all of whom are entitled to know it legally. Good luck figuring out which ones said something to someone, who then said so ethibg to someone else etc
To be fair to ghosthubter every man amd his dog k iws they did £4m last week as its all over the industry. Because they want it to be because they really want investment.
I agree with ghosthunter i think if they cut costs raise prices and change their model and get new management and a huge investment its viable. But i disagree with him that anyone would buy this before administration. People are just eaiting to pick the bones
Its NORMALLY a big sale season but this usually starts from september where they didnt see a spike there is no evidence except for one week which also uncoincidentally was in the middle of the first cold snap where people get issues... we all saw a spike over last 10 days. Who knows if it will last and even then one break even month for them after probably close to 10m loss in rest of year wipes put all those assets and unable to get funding.
They have also dramatically reduced their digital marketing spend, which will hit them in the next few weeks.
Its not 4m per week. It was just last week they did this and they are blasting it out everywhere as its been much lower than that for months
If you say so codger. Looking more and more likely to me. Major shareholders dumping stock at huge losses would suggest they think there is a big chance of getting nothing for it.
Completely agree. I doubt anyone else is genuinely interested.
Mitu will buy it but it will be out of administration
Thats exactly it. You run the risk of missing out regardless of what happens, just the eventual winner pays more if they do it now. This has administration wrotten all over it
There will be interested parties. People will want to see the books. But they wont buy till after administration... why would they?!
As i keep repeating. September and october are 2 of the best mi ths normally they will have expected a turnaround unfortunately the market is 20% down in sept and looking like 30% in october. The directors would have exo3cted a sales spike and instead they got a collapse