No-one who read the Viceroy research reports on Adler (agreed 5 min Google search) would ever do business with this guy |
5 minute google search was all the dd anyone needed to do on the funder My guess is that there's a binding funding agreement but that the counter party is an SPV Allows you to say and be technically correct that you have a legally binding agreement but also means that you're entirely at the discretion of the funder as to whether they provide the funding |
I think they've missed the boat on the placing Admin/d for e more likely now |
suspect we could see quite a few of the 4p buys closing at 4.5p on an intraday trade - wary of a potential 7am monday rns |
The company has a legal agreement for $80m of committed funding from NIU we are told and issued as an arrangement fee 33.88 million shares to NIU for that commitment issuable on first drawdown of $5m....If no further funds are forthcoming do we get those shares back?They have only put up 6.25% of the committed amount can we cancel all but the equivalent in what was issued...if there are no grounds in the agreement to cancel the 93.75% of those shares for failure to meet the legal terms ..which directors are at fault for being scammed?? |
Think people are a bit harsh on DP here,his job is to promote the company and see if funds can be raised to progress the mine to production.Looks like a fair project but seriously doubt its a billion dollar once in a lifetime project.i seriously doubt anyone is going to lend 80million to fund a mine that has no permission to operate but what do i know.Seems to me unless they can pull a rabbit out of the hat shareholders here are going to get one of those nasty late afternoon rns.GLA |
Donald - if PXC and NIU walk away from this...funds are obtained from another party, is there any way in which those shares given the NIU can be voided?
Or do they have 18% of the Company come what may? |
Stock 18% down on one of the highest volume days this year 188m shares in issue and almost 10m traded already...About time the nomad got a grip on the company and information flow...there is no orderly in this market.Down 78% ytd.. |
Judging by the volatility and the size of some of these buys today, I have a horrible feeling that a discounted placing is being forward sold here. |
Correct on close period , so something that the cfo has misinformed on by saying they were still in close period following the results and for a director to be considered restricted would only be the case if there was a high degree of certainty that the information that was priced sensitive would materialise in the very near term. Inside information needs to disclosed as soon as possible ..in the meantime there needs to be a record of those inside and why the information is being withheld.That is why directors are not permanently inside in terms of having conversations around the implementation of strategy.Unfortunately pxc seems to use close period and being inside on permanent basis to avoid correctly updating the market...though "they would like to say more" ..they can't ...is just nonsensical and puffy bit like the cfo. |
There are MAR rules. The idea is that if material news comes out a director shouldn't have bought (or sold) shares just before. Which is why when directors do buy shares people often say that means no news for a while. It's the stock market rules.
Closed period normally means no director trades at all in the statutory period before results. |
by that argument, no director could buy shares in their own company |
Whether anyone can buy shares depends upon whether they are in possession of inside information. It isn't the same as being in a closed period. |
The sells appear distressed large lumps the buys more small buyers ..hoping to catch the bottom...again!Anyone know if the shares given to NIU were restricted or could they just go and sell them ?? I think they were unrestricted ..given in recognition of the full $80m of committed funding...Maybe PXC should be checking its share register to see who is jumping ship ...and why! |
Unfortunately the company says one thing the share price says another. The further collapse of the share price with no apparent new news for ordinary shareholders speaks volumes as do the prints in large size. Is this an orderly market and a level playing field for all investors??? Hasn't been for a while ..it would appear the more informed heading for the door at any price. |
donald pond13 Dec '24 - 12:52 - 12283 of 12284
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That would be a matter for the Nomad, but I don't believe we are any more.
why aren't they buying shares then? |
silence from that pair is better than them saying anything - at least when silent they ain’t lying through their teeth… |
That would be a matter for the Nomad, but I don't believe we are any more.
Marcus and Richard are exploring avenues with a number of different parties. There is a limit to what they can say until discussions resolve into certainty. They are working hard for the company. We are all doing our best, but know we will be judged by results rather than effort. |
Well I would have expected RW not to claim in a video that the beginning of November was the legal deadline for us to receive the money from NIU if that wasn't the case.If that was in fact the legal deadline and it has now passed without NIU providing the funding I would expect that to be communicated via an rns so that everyone has the opportunity to make trading decisions on a level playing field with the facts out in the open. |
Is there still a closed period in operation here Donald?
the silence from Marcus & Richard is speaking volumes to investors. |
boonboon, I agree that appears to be the market assumption.
I'm not sure what you expect the company to do. We have a relationship with NIU and sometimes there are things in relationships that have to be kept private until they are resolved one way or another. The market, as you say, has drawn its own conclusion. |
Donald, you said to me that full DD was done on NIU and that the contract was 100% watertight to the funds they will inject so, if that was even remotely true, how can they now decide to not put in any further funds when required to do so?The fact that you are also looking elsewhere for immediate funding says everything and the contract is an absolute waste of space. |
Surely the board has put an internal deadline to NIU to put up the money and if they haven't given us the money by then this should be communicated to shareholders.The assumption the market is making is that NIU aren't going to provide funding. |
Fair enough. But you get the message.
Nobody is satisfied with this, and we are doing everything we can to improve things. |
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