I've mentally written this investment off.
5 years of my time, energy and large amounts of capital wasted.
My fault entirely - of course. I am too trusting. I trusted management to be competent/solid custodians of my capital & they made every single mistake in the book - yet I continued to trust them.
The debt covenant waiver was until July. It bought them a fraction more time, but for what?
As @miningnut correctly pointed out - even if Jervois were to achieve an asset sale (meaning the contractual rights to Jervois' refining share of Kokkola) - it will be for peanuts. No company in its right mind will buy an asset that doesn't make money and not when the seller is capped at A$40m or thereabouts and in the weakest possible negotiating position. Why would they? Trying to strong-arm a potential buyer by saying that the VA process could drag out for years - so if they want the asset - they will buy it now - is a ludicrous negotiating tactic IMO & reeks of Bryce's desperation. I highly doubt an asset sale will go down - and even if it does - the proceeds won't be enough to address their large debt position.
That leaves two options:
1/ AustralianSuper saving them - similar to how they saved Syrah & others. I thought this the most likely outcome, however, I've noticed AustralianSuper distancing themselves in the media recently from any mention of Jervois. It may be nothing, but I am no longer sure. Gut feeling now tells me that they will cut their losses here.
2/ Hail Mary option from the USG. 5 years of talks, talks, talks - but nothing substantial has resulted on this front, so the odds of this option are virtually nil.
I can see a suspension dropping any day now. 99% of my capital has already been destroyed, so I am personally not going to sell and will ride this to its natural conclusion.
- Forums
- ASX - By Stock
- JRV
- Ann: Results of Meeting
Ann: Results of Meeting, page-18
-
- There are more pages in this discussion • 23 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add JRV (ASX) to my watchlist
(20min delay)
|
|||||
Last
1.2¢ |
Change
0.001(9.09%) |
Mkt cap ! $32.43M |
Open | High | Low | Value | Volume |
1.1¢ | 1.2¢ | 1.1¢ | $53.69K | 4.746M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 1020909 | 1.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.2¢ | 613113 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 1020909 | 0.011 |
30 | 7167343 | 0.010 |
7 | 2303510 | 0.009 |
4 | 2695000 | 0.008 |
7 | 4413922 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.012 | 613113 | 4 |
0.013 | 3820769 | 8 |
0.014 | 3433857 | 10 |
0.015 | 4261868 | 5 |
0.016 | 1698705 | 7 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
Featured News
JRV (ASX) Chart |