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ERIC. Hear what you say about 3.16p but at least it was an internal placing. I would have been well wazzed off with a city placing at those prices.
Just seeking clarification to confirm my own thoughts. As opposed to an IPO, where the amount you get depends on whether the offer is oversubcribed , I assume the 3 for 8 to existing shareholders will not be restricted.
But also could someone please clarify, whether or not additional shares will be made available to cover excess applications and thus raise more funds here.
That's how I read it Andy. Seems about right. At least it was oversubscribed, a good sign. We needed that.
AIM, difficult to imagine this ever reaching 70p again, due to the amount of shares we will shortly have in total issue. A nice thought of course, but is it realistic? Dunno. Kurt has managed to quadruple our shares in issue since he took over, so he needs to deliver the goods for us, and I hope it will be next year. My thoughts are that he's let Baylan and co off the hook this year, not really battered the door down enough. We remain without the concession licence, no decision, the Government having done nothing, in spite of supposedly prioritising our application, and after our February meeting re possible legal action, Kurt has not pushed enough since, he's allowed himself to be given the brush off. Now we are having one of the largest fundraises ever, if not the largest, at a terrible sp.
Another awesome year, lol, well, maybe in terms of the Kosovo project, but who knows much about it? We have a high tech hot heat map and Kurt getting excited, ouch, burny burny, but the grades of samples so far per amount sampled seem somewhat underwhelming, and not even a ripple in the market for our Kosovo news, or Finland for that matter, and we still have the mystery of Vardar, the unlisted unaccountable drain on our finances.
Still, it could be worse.
Howl.
Yep, same rights, just wondered over the amount of shares that would be alloted, looks like people asked for 64 millions shares but will be getting 17 mill.
I hope Ed is enjoying his time away from this.
I also wonder how ED44 is getting on, I miss his contributions
Andy, won't all the new SDRs issued have the same rights? I'm not sure but it seems to mean that the 17 million or so difference you mention are just the SDRs that were not the SDRs of qualifying holders with subscription rights or entitlements for those SDRs. (The 17 million pared down from the 64 million or so mentioned).
I can't say well done to Kurt, as the to55er has raised all of this money at 3.16p. We know that the sp was well over 6p recently, for an entire month or thereabouts, so he isn't my favourite at the moment, giving this huge discount based on a lower sp, just because he had an acute attack of the Nordics at the time. Mass dilution at a very low sp in reality. He had to include us in the Offer, because the price struck was so appalling.
But you butter him up if you like. Lol. X
Sooz, the situation you are concerned about would mean absolutely everyone who qualified for the BEM Offer on AIM each taking up the entirety of their Offer and therefore leaving no extra shares available whatsoever for additional share requests. Hard to imagine everyone doing that really isn't it?
We already know TFE isn't taking up the Offer at all. Surely he's not the only one. Lol.
There surely will be additional shares floating about to be had.
Just saying. In my humble opinion of course.
So is this correct?
* 153,172,548 (the total amount of new SDRs issued)
* 136,009,107 (the amount of new SDRs via subscription rights)
Therefore, 17,163,441 new SDRs will be issued via without preferential rights?
Just couldn't resist it. :-)
Well, that's good news for the Company. But it probably means I'll have to amend my order for Extras and opt for Plan B, cancel the Extras and apply for my certificate Options.
Thanks Al...feeling much better now that decision is made.
Well done Suzy, the best of luck to you,
I've just taken the plunge and subscribed for all my Options in my ISA and Extra to cover my certificates, in the hope I'll get all of them in my ISA and save myself the brokerage of transferring them. An interesting fact is that you can edit the application up to the closing date.
Many thanks AimShrew...much appreciated. ;-)
Genuinely love the posts - feel I know you both - I remember Delt and others way back. Also think this is now getting to the point where it's just not worth pulling out as losses so great and staying in? - who knows - Like the lottery but better odds (albeit lower rewards) Can see it 70+ almost immediately if the Swedish Government do the right thing Keep up the good work
AIMShrew, I'm not sure that's a good idea. Lol.
Good luck to us.
3card, I agree re the sp. For the sp to drop to the Offer price to buy, it'll surely have to plunge into the 2s to sell. Difficult to see that occurring, mainly because the Option take up cash will go straight to our Company.
Have to see.
All the best.
IBJJ- IMO, it's gone so much deeper than the Swedes trying to keep the Sami happy...they've been doing that for far to long and it's reached a point where it's starting to affect swede economy and employment. The worry of foreign investors not wanting to take on Sweden is a big one for them. This will greatly affect the economy of Sweden and I feel it's reached the tipping point for what the future holds.
Time will tell Al but I feel it won't go too much lower. Only 30% dilution
Yes is is 3 card but why pay that amount when it’s clearly going to drop and they could but it cheaper,
Is that not allowed Al?
Last buy was for 161 thousand shares why?
I would still very much doubt the government feel any real pressure to make a decision.
However, as we all know exactly the swedes mindset, should they feel the need to act, over seven and a half years of their behaviour would strongly favour a “no”
They would surely much prefer a possible legal challenge from a two bit foreign exploration company, than internal conflict with the Sami, with all their green chums and heritage. And they are all swedes in the final analysis.
Food for thought and my musings only of course.