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looks like we will be aqse bound.
the board, in considering the investment, was mindful of providing shareholders with a mechanism or alternative arrangement for trading the ordinary shares.
accordingly, the board is actively pursuing the introduction of the ordinary shares of the company to an alternative **************. in this regard the company intends to apply to have its ordinary shares traded on the aqse growth market, a recognised growth market, based in london, subject to approval by aqse regulation. in the event that the company's shares are admitted to trading on the aqse, the company will be subject to the regulations and corporate governance of the aqse exchange.
Oh great...
Over a barrel really given the only other option.
AQSE is about as liquid as a stone.
Might as well have gone bust. That's how it feels right now.
Most my trades went through AQSE previously.
It'll be about as liquid as it was when it was on AIM.
This is all about suring up some significant gold and copper reserves at the Golden rose project and then seeing which of the much larger mining companies on either side want the asset. Note: Marathon Gold to the east are already building a mine and have a valuation of over £150m!
I don't believe it will go onto AQSE, that would be a waste of money when there is nothing to trade on. If they cared about liquidity for shareholders they were already on two markets and could have done the requisite RTO and brought in a proper project. Instead they have made minority investments in some obscure pet projects. This is dead for shareholders other than Anderson who will restructure it in his favour.
It was on AQSE previously as my platform bought through Aquis. Minimal cost to list and little regulation. Liquidity won't be great but it wasn't on AIM to be fair.
This is all on tru project now. Marathon going into production in 2 years....will they buy tru out on decent resource upgrades? That's what we need to see
Surely if Marathon were that interested in the lands they would have put up the capital for the deal we are getting after all it is quite small considering their valuation.
It's easier for them to let others take the exploration risk....
Lets hope it's a success, otherwise we'll struggle to see a return. I would imagine there'll be a surge in TRU share price when exploration starts post deal completion. If they can replicate Marathon's results this will be worth many multiples of current valuation. Let's hope that ORM screening process was as vigorous as they conveyed!
Orm will probably need to exercise their warrants to maintain 36% plus given the number of warrants outstanding, however i note that management have left enough cash/receivables to cover this conversion in future.
Good to see they're at least thinking about liquidity and trading, maybe they've been reading this chatboard! But they need to sort it like yesterday particularly if they want votes. They're addressing this too late. And I'll be the judge of whether they have integrity and standards. I query why Aqse too. Just relist on AIM. It won't be a huge cost difference, it's easily done. There's also Peak and the legacy Spanish stuff. Where's the ambition?
AIM is c100k, AQSE looks to be c20k, so way cheaper. I would like to see what happing at Peak. Dont they owe us some drill results.
All said, Im sure TA has a plan to grow the value of his 25%
Flundra it's not eligible for AIM, hence the delisting. You'd have to wonder then if it is not eligible to trade on AIM why it would trade on any other market. It won't go on aqse either, that's just fluff to appease shareholders. They already have all the votes they need
I get that ORM is heading for de-listing from AIM, but TRU and exercising the Peak option would be RTOs enabling AIM relisting. Not proposed sure, but it would still be the preferred route imo.
DS you voice the fear we probably all have, but I'll take the Aqse proposal and promises of future professionalism, regard for liquidity for shareholders etc at face value for now.
Zebs is it really £100k just to relist a £5m ish mcap on AIM in these circumstances? Seems a lot, and perhaps justifiable anyway now there's a couple of projects going. They happily sucked up the annual AIM fees for ages whilst having no live projects.