Emmerson Share Discussion Threads

[yasyas1] 27/5/2021 16:53

Totally agree. This is getting pretty poor now

[allinforabigprofit] 27/5/2021 16:16

All those mobile phone with cameras and no picture? Least be creditable.

[hedgehog 100] 27/5/2021 14:01

Thanks for that useful example Mesb.

12/08/2020 07:00 UK Regulatory (RNS & others) Horizonte Minerals PLC US$325m Senior Debt Facility Mandate for Araguaia LSE:HZM Horizonte Minerals Plc
"Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) ('Horizonte' or 'the Company') the nickel development company focused in Brazil is pleased to announce that it has executed a mandate to arrange a senior secured project finance facility of up to US$325 million (the "Mandate") to fund the construction and development of its Araguaia ferro-nickel project in Brazil ('Araguaia' or 'the Project'). ..."

[mesb48] 26/5/2021 21:52

Some good ideas on here. Maybe we should suggest a shareholder representative on the board (but without the exorbitant consultant fees!). Suspect some private investors have more shares than Graham or Hayden. I’d certainly do it for only a nominal fee.

Agree with fewer presentations and a bit more imagination, the board could do way more than currently. Last summer, HZM went on a big run just by saying a group of banks had been mandated to arrange financing - no actual finance, but the market ignored that minor detail!

[apfindley] 26/5/2021 21:22

This is what I've said all along. Instead of endlessly touting presentations to the markets they need to get a provisional agreement for a debt package, and use the legitimacy of that to harness the rest as equity.A chicken and egg scenario for which can be secured first , debt/equity.But get that debt package first and the equity guys will need to pay up higher for the privilege of taking part, or move along.We need some news about debt funding talks. The market needs to hear something as hayden hasn't even mentioned the debt funders since we were first teased with them approaching eml.

[puzzler2] 26/5/2021 20:31

Thanks Hedgehog and cyberbub for those very rational responses to my earlier post. I do hope that everything pans out similarly to the way it did for FAR and that the City spivs don't win this battle, as they so often do. For the record, I do believe in this opportunity and have a significant (for me) holding. The financial dynamics clearly make sense and we just need funding arranged in as non-dilutive a way as possible. Graham has said Q3 for this, so only a month to wait before that Q3 window opens.

[cyberbub] 26/5/2021 20:00

I agree that after the City spivs have done everything they can to keep the share price down at a ludicrously undervalued level, we may be forced to raise some of the equity down in the 5-6p level. But as stated by Hedgehog, FAR offers an excellent example, and one that ties in with what I 'believe' EML are pitching.

So for example we might agree a package which comprises 200M shares at 6p = £12M immediately and unconditionally, and a commitment to further funding at 10p (say 300M shares) and 15p (400M shares) as milestones are met. That money would meet the requirements for the full FS plan's 30% equity component, and allow the remaining 70% debt deal to be closed.

The first £12M will allow key contracts to be let, long lead time items to be ordered, staff to be hired, groundworks to be installed, and power lines to be brought in. In the meantime the debt deal can be finalised and signed.

On completion of that milestone, the next tranche of equity plus debt would allow the main works to start ie declines and main processing plant construction, plus highway access road.

The next milestone would probably be completion of the declines and access roads, releasing the 3rd tranche of equity and debt to complete the processing plant.

And we still keep the total number of shares well below 2bn.

Make sense?

NAI

[hedgehog 100] 26/5/2021 18:42

Puzzler,

In the current mining sector bull market, more fundraisings are being done at premiums, and are often a trigger for an immediate surge upwards.

Look at FAR's recent fundraising at 9p:

"15/03/2021 07:01 UK Regulatory (RNS & others) Ferro-Alloy Resources Limited Strategic Investment & Appointment of Chairman LSE:FAR Ferro-alloy Resources Limited
Strategic Investment by Vision Blue Resources and proposed appointment of Sir Mick Davis as Chairman
Ferro Alloy Resources Limited (LSE: FAR), the vanadium mining and processing company with operations based in Southern Kazakhstan, is pleased to announce that it has today entered into a subscription agreement ("Subscription Agreement") for up to US$12.6m with Vision Blue Resources ("Vision Blue" or "VBR"), a company led and founded by former Xstrata CEO Sir Mick Davis, and a limited number of co-investors ("Co-Investors"). Sir Mick Davis will join the Company's board as Chairman following completion of the Initial Investment outlined in the Subscription Agreement. Chris Thomas, current Chairman of FAR, will resume the role of Non-Executive Director on Sir Mick Davis's appointment.
Highlights
-- Total funding package of up to US$12.6m at a subscription price of 9 pence per share (the "Issue Price") comprises:
o An initial investment in two stages of up to US$3.1m by VBR, a company led by Sir Mick Davis, and the Co-Investors including Tony Trahar, former CEO of Anglo American plc (the "Initial Investment")
o Further investment rights granted to VBR of up to US$9.5m at the Issue Price (the "Further Investment Rights")
-- Transaction structure provides a pathway to VBR to acquire 21.29% of FAR for U$11.5m of the total funding package ..."


FAR rapidly quadrupled, and is currently 32p (market cap. £106.19 million).

Ferro-Alloy Resources (FAR):




EML's recent big placing at 5.75p sets a floor, and also gives the company more leeway and bargaining power.

And I wouldn't be surprised if some investors from that placing are keen to invest more at higher prices.

17/05/2021 07:00 UKREG Emmerson PLC Final Results
" ... On 26 February 2021, the Company issued 95,652,174 new ordinary shares at an issue price of 5.75 pence per share raising gross proceeds of GBP5.5 million (note 16). ..."

[puzzler2] 26/5/2021 17:35

I've stopped listening to the EML podacsts/webcasts and feel guilty for doing so, until someone on this BB reports that once again, there's no new news. Unfortunately, the cat's out of the bag - everyone knows that GC is churning out the same old script, to generate investment interest to bolster the share price prior to the inevitable placing - but everyone knows that a placing is due and that they're very rarely at a premium, so no-one will be buying until it's out of the way. Thus EML needs a new strategy to get the share price up, which needs to be a stream of news releases, such as:
1. There was talk of a Morrocan government grant to help finance the plant - that needs to be finalised then RNSd;
2. News of a confirmed off-take agreement with a substantial up-front payment would be good - again finalise it and RNS it; and
3. A positive update on debt financing without reference to any placing would be good too.
The above together might just help the share price rise higher before the inevitable placing, thus reducing dilution.
Come on Hayden, you're the CF professional, you've appointed debt advisors and have a non-exec experienced in fundraising - pull your finger out and get this done.

[mesb48] 26/5/2021 11:00

1airbag, I agree. Think if they were not stuck in the UK office, they wouldn't have the time to dream up these things. But probably they were trying to do the right thing. They were asked about this on the call yesterday and said they were simply trying to reach as wide an audience as possible. But think also they accepted that the main thing now that will drive the company's valuation is tangible progress on financing etc. Listening to the call, especially the wrap up, I think they may have got the message to stop faffing around, I hope so anyway.

[westie50] 26/5/2021 10:56

Airbag - I just think there's a fine line between too much publicity and absolutely nothing for months on end. I'm in the camp of having too much publicity is preferable to nothing. I do accept the recency and amount of presentations have been excessive.

I do think GC needs to take a step back and maybe e get Hayden to present in future, especially when it comes to finance news. He's a far better orator than Graham. I'm sure GC though will be brilliant at building the plant, etc as that's his skill set.

[1airbag] 26/5/2021 10:40

I saw EML on an advertising banner on this website just now. That sort of thing smacks of desperation and does not impress me.

Any thoughts?

[sloppyg] 25/5/2021 17:57

The one good thing to come out of the repeated presentations is that one would sense if there has been a change in mood and circumstances to indicate that funding conversations were not going as planned.

To the contrary everything tells me that all is on track and there are many options in this regard. I sense their frustration with current share price but it is what it is. They come across as a Mgt team that have absolutely zero concerns that this will be a fully funded successful project yet cannot quite believe the market is not on the same page as them (Yet!).

So although repeating the same message over and over again the body language is quietly reassuring imo.

[donald pond] 25/5/2021 16:53

Thanks for the update. I think we are all frustrated with the price, but tbh the board have themselves to blame. The share price was 8p and looking good, and if they had bought some shares then it would probably be 12p by now. Instead they did an ill advised underpriced fundraiser. Anyway, water under the bridge.

[mesb48] 25/5/2021 16:06

Recording is now on the investor meet platform.

Agree no new info really. But thought it was interesting in Graham’s wrap up he referenced “questions about buying shares and other things…” with a hint of frustration I felt in his voice. Logic says to me they would recognise that if they are telling people the company is undervalued, it doesn’t sit well if they aren’t seen to put their money where their mouth is. I have no way of knowing but my sense therefore is they are in a closed period stopping them from dealing (but can’t say so) with one or more specific financing offer(s) on the table. The alternative is that they are not in a close period, and the questions will knock on their conscience and provoke a response to prove their commitment. But it was telling I think he went out of his way to try to quell any doubt about commitment.

[yasyas1] 25/5/2021 15:34

Thanks for update

[gateside] 25/5/2021 13:09

For those who didn't hear today's presentation, there was no new news. Same info as previous presentations.
Just need to be patient a bit longer!

[qsmeily456] 24/5/2021 20:50

Werie the ramper hates the moaner too 🤣💦💦

CAPTAIN 🐂💩s got yet another pr spin......

Wheres the money?

Wheres your buy in?

[westie50] 24/5/2021 12:52

The London offices are in Berkeley Square aren't they?

[lurker5] 24/5/2021 12:39

In Mayfair eh ? Hmm

[apfindley] 24/5/2021 12:35

Lol. Dear lord.Maybe he was ordering a drink and discussing the options on the menu.

[cyberbub] 24/5/2021 12:34

We need to raise approx $90M for the staged approach. Even if the City spivs keep the share price down here to get their pound of flesh, and we had to raise the $90M at the crazy price of 4p (!!) then our share count would still be 'only' 2.5bn. If the company can fund the remaining stages from cashflow (and associated debt) over the next few years, and ends up with anything remotely like the $500M p.a. cashflow they're predicting, then I don't think we would be too worried about having 2.5bn shares in issue...!!That's why I think there's a huge margin of safety here.NAI

[yasyas1] 24/5/2021 10:59

Should ve eavesdtopped harder. Lol

[1airbag] 24/5/2021 10:03

I saw Hadyn Lock in London last thursday in a cafe in Mayfair. I didn't talk to him as he was on his phone. He was talking about EML. He kept talking about options. Heard directors names mentioned too. Sorry for lack of Information.

[yasyas1] 24/5/2021 10:02

Mee too lost out many times. Tbh fundamentals here are good aa is board so fingers crossed