It is obvious that RY has landed us with another death spiral type financing arrangement.
The best thing he could do is to cancel this and do a rights issue or a placing and then make headway with "milstones" to properly enhance shareholder value and not 'clown around' with the likes of "R" and their ilk.
I am tired of being played around like this having invested here for years but now have awoken from the "spell" of a good story that is not backed by a deal maker of a CEO which RY is not.
Good luck with your startegy. Hope it works out but thus far clearly it hasn't.
I love the possible future potential rather being in love with AMC , hence we have a stand off with traders v holders expecting or hoping for much bigger sums.Nothing more to it on AMC journey , then you have BB Clowns I don't engage if I can help it, like Sasa43 life is too short for all that mumbo jumbo I rather do something more constructive with most of my time, yeah we like things to happen quickly but I'm happy to wait it out where others don't perhaps or don't want too?
Whatever angle you choose this share is interesting for all sorts hence we have various camps
A lot of PI's here have fallen in love with AMC and been so loyal to RY except he's been pretty cruel to us. He doesn't seem to want us given all these financing arrangements and giving away of shares.
Don't be blindsided by the story here - it is going to take a little longer yet IMO and the only single thing that we can trust is the SP (be it manipulated or not but IMO it is).
Assuming AMC issued the warrants due to Riverfort on the first advance, this should create some SP action this year to allow Riverfort to exercise them at 9.3p (which they can either off load or if shares are held borrow against and short sell?).
Either way, not great for LTH to date and so we must make the most of any profit making situations that present themselves.
I just try and get on with life, soot; I get in a stew over few things these days, especially if there's little or nothing I can do about it - pensions need to be guaranteed in terms of capital security and income, at least, hence the gilt yardstick, although performance is another matter.
Bonds have done well in recent years but now this is changing as yields rise and inflation begins to reassert itself. Only equities and gold miners in the mkts tend to offset inflationary pressures over time, whereas straight bonds have no protection against it.
Ergo, I hold no bonds, just shs directly inc. various miners / oilies along with a good number of collectables and nothing at 'arms length' if I can avoid it.
Then there is this;
At the end of February Morgan Stanley sent shares of lithium producers and explorers tumbling after the investment bank forecast a huge surplus in the market for the battery raw material in 2022, resulting in forecast prices nearly halving from todays levels.
The negative assessment raised eyebrows in the industry with executives criticizing Morgan Stanley for vastly underestimating the rise in demand, production ramp-up problems and bottlenecks with processing of battery-grade lithium compounds.
But this week another voice was added to the bear camp on lithium (and cobalt, where hype has reached an even higher pitch).
Prominent commodities research house Wood Mackenzie this week released a report on battery materials that forecasts a decline in the price of cobalt and lithium this year which would turn into a rout from 2019 onwards.
Now @ $88,375,,,,,,,,,up $4,000 this week, puts us just shy of $800,000,000.
At this rate, $100k per m/t will be with us by end of April. Still with a poxy mcap of £30mill, someone is doing a job on us.
Even with all going on, how can a $20 billion recoverable resource only be valued at £30 million ?
Sommat stinks, this is the biggest disparity between asset value and market value I have seen.
To put it in perspective, this weeks increase alone in cobalt, has increased our recoverable cobalt value by $36 million, our mcap continues to fall.
The underfunding is also caused because pension schemes *choose* to base their valuations and investments on the likes of 15 year gilts. I'm no pensions expert, but I've always thought that pension trustees have an impossible job: they are told their primary obligation is to keep the money flowing to existing pensioners, but in the post-2008 environment, choosing "safe" investments like wildly over-priced government bonds is very dangerous and does a great disservice to the other substantial part of a pension fund's responsibilities, i.e. the need for current contributors to see strong growth in the overall fund value, so the fund is in a better position to pay pensions in the future and not rely, like a Ponzi scheme, on there being a large number of new contributors.
The needs of current pensioners for steady income and of current contributions for steady, significant growth just seem fundamentally incompatible. The constant paying-out of income hobbles the opportunity to invest for growth, and current contributors to company pension schemes see surprisingly little in return for their money when they retire.
This is why I've transferred out of my few piffling final salary schemes: they were typically offering me £4,200 a year index-linked in 10 years time (with half to go to my wife when I die), but a transfer value of £110,000 to transfer into a SIPP. In my view, the £110K is much better value: it can already pay me £4,200 in equity dividends ten years early, if I wanted it, but if I invest the £100K for growth, I should end up with a much bigger pot in 10 years time, capable of paying much more than £4,200 if I want it to. OK, the money is not "guaranteed", but that's just down to one's choice of investment at retirement: I could invest some of my (larger) pot in an annuity, to get the £4,200 offered by the pension scheme, and I would still have money left over. Or I could choose not to take the income, reinvest the dividends and grow the fund still further for another 10 years until I am 75. The flexibility of a SIPP mean I can choose when to take money out, as and when I want it, and when I die, my wife won't see a 50% drop in her income: she'll have significantly more than £2,100 index-linked. And it gets even better: when my wife dies, any money left in the SIPP can be inherited by my daughter, whereas she will get absolutely nothing from the pension fund.
This is not about the world being perfect or not but is about a (financial) system that is upside down that rewards the corrupt, the peadaphiles, the liars (i.e. politicians), the people with no morals at all.
East or West, it just doesn't matter - ultimately they are sharing the same traits.
Soot you are talking about money purchase schemes as opposed to final salary schemes but again the lack of understanding is exacerbated by poor journalism. Today all such products are simply tax wrappers which means tax relief on contributions, tax free growth and no access to 55. But the only asset a pension can't purchase is residential property. If you buy AMC at 14p and it falls to 5p the resultant loss is identical whether it is in a unit trust, ISA or pension. The reason most peoples pensions are poor is due to lack of funding and poor investment choices.
It's not a perfect world, soot - far from it, as we all know.
The fact remains, though, that medium dated gilt yields (15yrs) are the benchmark in determining what pension returns are required (on paper) subject, usually, to a tri-ennial valuation review. The lower the gilt yield the more cash required.
There is also a limit on eligible securities; time was when equity contents were a lot higher than they are today but, following the crashes of 2000 and 2008, bond components were stepped up markedly at their expense. Anyway, that's just how it is today - sasa.
A Russian plane loaded with precious metals lost its glittering cargo on take-off Thursday, scattering the runway with gold and silver.
The Antonov plane was taking off after refuelling in an airport at Yakutsk in Siberia when its cargo door flew open and out tumbled nearly 200 bars from the Kupol gold mine in the remote Chukotka region, investigators said.
Dog gone: United Airlines mistakenly flies family German shepherd to Japan
The cargo of bars of concentrated ore used to transport the precious metals weighed 9.3 tonnes.
As it gathered height, the cargo door became damaged due to the shifting of cargo and part of the cargo was scattered on the runway Russias Investigative Committee said in a statement on Telegram.
The plane was forced to land back at the airport, and police immediately sealed off the area to prevent people from rushing to the scene of the rare windfall, Yakutmedia local news site reported.
One hundred and seventy two bars have been found weighing around 3.4 tonnes, the local interior ministry told TASS state news agency. Only part of the gold fell out altogether there were around nine tonnes in there.
Kupol mine where the cargo came from is operated by Canada-based mining company Kinross Gold.
A Russian spokesman for the company, Stanislav Borodyuk, told Interfax news agency that all the cargo has been picked up, there are no losses. He said the bars were Dore, a semi-pure alloy of silver and gold.
Investigators said the problem on take-off was likely due to the cargo not being properly stabilised.
we were told that paying into a pension ..drip drip feeding would even out the peaks n troughs... so all this interest rates blah blah is froth.. since 2008 the market has more than recpovered pensions should have recovered.. they have not! As my friends retire they are dismayed at what their pension plans offer them!
we had the same tale with the endowment policy..its a scam!
the government looking after their chums!
so the savvy individual goes for buy to let... and the more popular this became the more government ratchets up taxation against the individual planing his own financial security!
if one wanted to rely on interest rates theres always the cash isa... and there are no fees!
Agree your explanations on the trashing of pension scheme values caused by the precipitous drop in 15 year gilt yields caused by QE etc., Sageman and the need to keep propping them up by more and more capital contributions to offset the adverse influence.
Whilst it's all on paper while the minimal yield regime persists, you need to maintain income generation, never mind gradually increase it over time to meet the pay outs to pensioners.
The remedy is simple - ending QE should see a gradual return to normal yield levels, say, 4% or so (that's the long term cost of money since 1840, btw) but the downside here is the detrimental effect on servicing all forms of borrowing, (so high today) the resultant squeeze on consumer spending, impacting on corporate profits, increasing unemployment levels etc., will be the cost of getting pension schemes back to near self - funding levels.
With final salary schemes passing into history (in the private sector mainly) the money purchase scheme (DIY) is becoming its replacement and where do peeps turn to in providing for their retirement? The stock market, especially 'blue chips' these days, to get nearer that 4% yield level but the mkts react badly to the prospect of rising interest rates, for the above reasons, so the return to the 'norm' will, inevitably, be a painful transition - sasa.
this is from a google search
The Federation Council, the upper house of Russias parliament, is considering draft measures that would allow the property and assets of European and US companies to be confiscated in the event of international sanctions against Russia.
At this early stage, it is unlikely that such measures will become official policy. But this should be seen as a signal. Russias leaders are demonstrating to the West that they possess the capacity to inflict pain in retaliation to any future sanctions. In doing so, they may also be hoping that US and European companies with substantial business interests in Russia will increase their lobbying to help dilute the substance of any action taken against Russia.
Nevertheless, it does raise the issue of whether Russia would be able to credibly threaten the expropriation of foreign assets as a weapon against the West.
HP there will always be rogues but 99.9% of the current problem of underfunding has been caused by QE and low interest rates and exacerbated by Brexit. The 15 year gilt yield fell by half between February 2016 and August 2016 with catastrophic impact on the funding of pension schemes. When rates move rapidly against you there is nothing you can do about the resultant paper liability. I feel very sorry for the good guys who have tried so hard to keep the funding up only to see the goal posts keep moving. To get round it for individuals the government launched pension freedoms but final salary schemes have just been stuck between a rock and a hard place.
you are right that being an engineer myself, i am not very well versed in the pension industry........but are you seriously saying that since the rules were tightened after the Maxwell days, there´s been no raiding or abuse of company pension schemes or that trustees of pensions schemes have not carried out their obligations to protect the interests of those they represent? You make it sound like it hasn´t happened since the Maxwell days....which i find as an uninformed bystander, unbelievable....
Important message from the Financial Conduct Authority:
Posting inside information that is not public knowledge, or information that is false or misleading, may constitute market abuse.
This could lead to an unlimited fine and up to seven years in prison.
If you have any information, concerns or queries about market abuse, click here.
The content of the messages posted represents the opinions of the author, and does not represent the opinions of Interactive Investor Trading Limited or its affiliates and has not been approved or issued by Interactive Investor Trading Limited.
You should be aware that the other participants of the above discussion group are strangers to you and may make statements which may be misleading, deceptive or wrong.
Please remember that the value of investments or income from them may go down as well as up and that the past performance of an investment is not a guide to its performance in the future.
The discussion boards on this site are intended to be an information sharing forum and is not intended to address your particular requirements.
Whilst information provided on them can help with your investment research you need to consider carefully whether you should make (or refraining from making) investment or other decisions based on what you see without doing further research on investments you are interested in.
Participating in this forum cannot be a substitute for obtaining advice from an appropriate expert independent adviser who takes into account your circumstances and specific investment needs in selected investments that are appropriate for you.