And strip out the Goodwill which is all for Nakama then there is a net asset of £400k at the half year which would have been wiped out by now. Banks and other lenders will be on the case and a massive issue of equity will be needed if NAK is to be saved. There is still a value to the sp so grab it if you can before the MMs drop it further. The writing was on the wall when the original FD left after the RTO - she knew what was coming IMO and that is when I left.
Well according to the last annual report the Australian business had debt of around £400k through an invoice discounting facility which is cross guaranteed with the two other branches so if Australia goes under the debt won't go away.
There was a time when I thought that Sheffield Haworth would reverce into NKM but I really cannot see any value in SH doing that now. Although they have a substantial investment I now think SH should allow NKM to paddle their own canoe and simply pick up the pieces should they collapse. What a mess and how on earth did Ken Ford allow NKM to get involved and ruin what was a steady company.
Don't worry BOWOOD i've never held these shares, just kind of followed them for a while as they looked to be doing a bit better a while ago (although not actually doing what you'd call well) and I thought there might be a bit of value in them.
If I had ever owned them I would have been out ages ago, i've been predicting for a while that these will go bust this year.
I don't think you are missing anything AJ. They may have included the liability in the Balance Sheet at the half year but I doubt it as they would have mentioned it in the report. Not sure why Sheffield Haworth should do anything apart from buy the UK interest and let the overseas ops go pop. Only problem could be any loans or cross gaurentees. Take any value there is in the sp before trading is stopped.
Frankly i'm amazed these haven't been suspended. They must be very close to trading while insolvent.
When they last reported they had net working capital of just £236k, surely this has all gone now. The company is still losing money so if they don't pull the plug soon they will surely be acting against the interests of their creditors as they will get back even less in the pound than they would if they pulled the plug today. If there's anything left of the assets then it's just some goodwill which is completely worthless. They've admitted that they can't meet their debts as they fall due.
I guess the only hope is that Sheffield Haworth rescue them which they can very easily afford to do, but i'm not sure why they'd bother given the risk/reward.
The going of KF is indeed a complete dissaster for the old company. Nakama has been bad news ever since it reversed in and now all the old and trusted have left. Perhaps they will dribble out their shares and keep the price down to about 1p - 1.25p
Got to be one of the best potential AIM stocks, with only 97m shares in issue, recent rises will soon be improved upon once all the massive buy orders are filled, including the late trade of 670m just appeared...phew !!
AND Finance deal with Talaxis for $12m fully funded with no dilution. No wonder this was the most heavily traded stock when news dropped on Friday?
William Dawes, Chief Executive Officer of Mkango, said: "This transaction is transformational for Mkango and for Malawi, and is a further endorsement of the Company's strategy and potential. This Agreement significantly strengthens our balance sheet whilst ensuring that the Company is fully funded to progress Songwe and our collaboration with Metalysis. It also comes at a pivotal time in the rare earth market with a very strong demand outlook for rare earths such as neodymium and praseodymium used in permanent magnets for electric vehicles, wind turbines and other clean technology applications. We are very excited to be working with Talaxis, and moving forward with the bankable feasibility study for Songwe and Phase II of the research and development programme with Metalysis."
Daniel Mamadou, Executive Director of Talaxis said: "The global push to decarbonize the economy is creating pressure on the supply of critical elements to the green tech sector. Environmental regulation and the policy changes are driving the price of technology metals. Supported by our access to global logistics capabilities, an extensive marketing network and a team of experienced professionals, Talaxis is pleased to enter into this agreement, which further strengthens our supply chain specialized in tech metal products."
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.