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[theaviator] 27/12/2024 20:41

No he is on the back foot. Weak... Actually weaker than weak. Not a biz strategy.

[pistolpete100] 27/12/2024 20:19

I'd read that the other way round barnaby...

[barnaby5] 27/12/2024 20:03

Open to discussion. Looks like pc thinks he can play hard ball with Tosla and change the terms of agreement

[theaviator] 27/12/2024 19:21

Only way to play the Spanish is put up or shut up. If he has any business accumen he will tell them adiós not hasta luego. He's too weak to be a leader that's the problem. Lovely man, sincere and all that but not a CEO.

[theaviator] 27/12/2024 19:17

FK em. Spanish - usual shenanigans as did mention (tough bstrds with business) however the buck stops at the helm. He has ruined his company and no irons in fire apart from one project where trucking expenses outweighs the attraction.

[pistolpete100] 27/12/2024 19:14

P.S. - Given that the finer points were being negotiated regarding the 3%/payment terms its clear the project very much has value - other players will see the RNS, last minute notification from Tolsa in particular, and take a view...

[pistolpete100] 27/12/2024 18:30

yes Loot, I have very similar sentiments to the ones you have just expressed...

Tolsa - My sense is that they have all to aware of our position - and from that standpoint are happy to play hardball - the "alternative arrangements" alluded to in the RNS likely along the lines of a royalty only option - but clearly a "deal" that doesnt involve any Capex from their standpoint... - Additionally, and more concerningly, is that they havent released the detailed data as yet - and even if they are contractually obliged to again, looks like they are happy to slow walk that or worse - basically saying "what you going to do about it" - obviously the answer is legal action - however, as per my point above, not something we can particularly afford at this juncture... - but without all the data, other parties wont be in a position to do anything even if there is interest... - bit of a catch 22 where we seem to be holding zero cards

CS - the lack of a deal here certainly doesnt help our case - the only saving grace is that there are multiple parties interested so there is some flex and optionality - however unless a deal is struck in Q1 then we inevitably face the prospect of massive dilution to keep ourselves in the game.... - not great

[loot2309] 27/12/2024 17:21

Oh wow, what a disaster. Not because this one deal was going to be the making of the company but because it was needed to give us a modicum of stability and leverage to keep going and get the other deals done.

Honestly PC just sell stuff off now to the point that we can all get a bit of money because frankly I am bloody annoyed and have lost a great deal.

Years of this now.

[yasx] 27/12/2024 16:28

Fire,

Quite - removing PC ought to be the first step in any process that involves ant sort of recovery story.

[yasx] 27/12/2024 16:27

Well, what PC fails to realise is that Sres does not have sufficient funds to wsit for data from Tolsa to be received, analysed and communicated to any other interested parties.

Perhaps the sepolite is not of a sufficient quality or the royalty became a significant issue - if the latter, pC ought to have been anle to renogiate a deal. If the former, then that is an egregious outcome. Either way, puts sres in a precarious financial position. If Tolsa has taken this long other parties are hardly likely to conclude in short order.

Liquidity issues make it difficult for holders to exit - will see how things unfold.

[fire2480] 27/12/2024 16:07

He needs to resign .

[rolo7] 27/12/2024 16:07

I Don't trust this ceo at all late Friday announcement never a good thing.

[fire2480] 27/12/2024 16:04

Rns , no deal

[yasx] 27/12/2024 14:49

Wager,

As long as Tolda don’t pull out - a delay while they assess matters further is not a disaster by any stretch of the imagination, especially if a payment is given for any extension.

[1wager] 27/12/2024 14:22

It will be Monday now. But entirely agree YASx. More extensions or delays however you view it

[yasx] 27/12/2024 14:20

A deal seems unlikely at this stage - but if, as was done this time last year, the Co were to receive another six figure payment for an extension, coupled with an increase in the value of the sale on any deal being concluded to say 1.5M against the current 1.4M, that to me would be acceptable at this point - it is slightly disappointing that no deal has been concluded by the deadline but Tolsa were undertaking further work on the project in the summer and although we did not receive formal results of the same, they have not announced an intention not to proceed so on balance it seems they are likely still interested but it may take a little longer.

We ought to get some clarity on the issue very shortly.

[1wager] 27/12/2024 07:11

PC holding back the TOLSA info till the 30th now. Will
It be a happy new year!?

[pistolpete100] 24/12/2024 22:36

Anyway - let's leave the speculation for a week or so...Merry Christmas in and all!

[pistolpete100] 24/12/2024 22:21

lol - well I'm pretty sure he doesn't - however what he wants (and what I and many others want) and where the market is at are 2 potentially different things... - 1.86p puts us at circa MC of £100m including warrants etc... You think we are going from £2m to £100m with tolsa and CS deals??

[barnaby5] 24/12/2024 20:51

.2 Pete. Lol. That’s bsg figure to bail. Do you really think pc wants out at .2

[pistolpete100] 23/12/2024 12:38

Yes I can certainly see that..

[bsg] 23/12/2024 11:43

I think 0.2p if the wind is with us.

[pistolpete100] 23/12/2024 10:22

1.86p barnaby?

[barnaby5] 20/12/2024 19:34

Thanks Dave as I’m now at 1.86 to exit. Once deals come in easily achievable.