Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I filtered Neil pretty quickly AA, their recent posting performance on TLW when 46p just cemented my opinion.
No one knows what the details behind the change of tact and request for renegotiation are beyond a material change in near term value, unless they have inside information which I doubt with this BOD.
Everything else is pure speculation
Neil, quite how you see this as bad news after your previous posting is baffling, as I understood your concern was on funding, now it's penalties and substantial dilution based on the possibility that the deal doesn't proceed, it's obvious that you have some agenda, I have looked at your posting history and one thing that shines through is the thrill and attention seeking you thrive with outlandish posting, don't bother replying because I won't bother engaging with you.
Hi Crystallball, there will be those who prefer to put a negative spin on this but in essence little has changed,
It would have been easier on the board if they hadn't given a timescale on the release of the admission document,
That way they wouldn't have to update the market with the negotiations so precisely but ultimately it changes nothing,
I'm hopeful this will come good.
Ah I see, that's a positive then. Thanks Cp.
I wonder if its a funding issue after over looking that tanz 2020 work program . Or a buy out ?
Hi Joel, if I am not mistaken they said on the conf call they had 5 deals, 2 had fallen by the wayside, this one with One Dyas they were executing and 2 others in advanced stages (SIC) something along those lines. Of course there is no guarantee that any will close out in full.
It's the easy to criticise but business seldom runs smoothly, they did say there priority is to ensure that the first deal brought to shareholders is value accretive and reflects the value of the board, to build a mid cap company backed by high quality assetts and stable cash flow,
Also there never could be any guarantee the deal would go ahead but the fact they are still pursuing looks quite promising Imo.
I remain hopeful and content that we have a board that are doing their best to work out the best deal for us, the longstop termination date is Feb 28th 2020 so hopefully the general outlook for the market is in a more upbeat mood then.
The problem is these acquisitions cost millions in terms of fees and finance costs.
If this does fall through it will have been expensive and ultimately it's the shareholders that are paying for it.
Cp, did they actually state that 2 others were in advanced stages, or just that 2 others were being looked at?
Well if this one does fall through then lets hope they are close with the other 2 deals they said were in advanced stages.
Whilst I understand that the company would try to negotiate better terms and not want to pay over the odds, I still can't feel positive about that update. I am usually quite a positive person, but none of my shares are performing well so I guess it's having it's effect!
No matter which way you look at it, it is still no deal across the line, still suspended, and still awaiting that delivery of value to shareholders. And what happens if this deal does fall through, how long before we line another up and start negotiations again. Long term holders have waited enough for something (anything!) to happen.
Good Luck all, and wish you all a Merry Christmas.
Afternoon
Well not the news I was expecting but clearly something has changed in terms of the expected earnings 2020?
Not sure what you are talking about Caddy, the BOD have not f'd up to date and clearly the situation has materially changed. Surely you don't think they should use shareholders money to pay full price if this is indeed the case. That would be just crazy.
Sounds like the bod have ****ed up yet again. I don't think that anyone here would want to negotiate a deal to get a worse deal so why would OneDyas?
Yes, agree Cups, either a delay or a material reduction on the forecast upside, so a lower price to be negotiated.
Well lets see what they come back with in the new year I guess. Glad we are suspended though!
Key sentence in RNS
"we felt it prudent to reengage with them with a view to agreeing new terms that better reflect the current and near-term outlook for the assets".
Could well be Cups, OneDyas were supposed to have started work on infill well on K09ab-A tail end of 2019, could be an issue there? Who knows all guess work.
Renegotiating to pay less by the sounds of it due to change/reduction in asset performance whether due to non maintenance or investment by OneDyas during the sale of the asset, incurring extra cost to Solo to bring back to pre performance level.
I wonder what has changed between October and now?
Well they have updated us as they said they would. Seems they are trying to amend the terms of the deal, no details so we just have to wait and see.
Not a holder. Solo still working on the deal. Looking to alter some terms
The Company is currently seeking to renegotiate certain terms of the Agreement with ONE Dyas to reflect operational and other changes since signing the original Agreement.
""In light of certain changes of circumstance since signing the Agreement with ONE Dyas, we felt it prudent to reengage with them with a view to agreeing new terms that better reflect the current and near-term outlook for the assets. This is wholly consistent with the Board's stated strategy to ensure any acquisitions are executed at fair value for the Company. We hope to agree on terms that are beneficial to all parties and allow us to complete this transaction. We will update the market in due course once we have firm clarity on how to proceed."