Oh, I didn't know you could still be entitled to do that, but I suppose it matters crucially only sbout what you held on Offer deadline day. Fair enough.
To be honest though, with my average, Id have to literally buy millions more, so it isn't worth it.
If you've sold the entire amount of your normal holding, good on you, at least it's currently not trading at the 0.006p equivalent of the proposed placing price, but you know the risk of buying back in matey. Lol.
Hi Eric - I'd talk to your broker bud.... the qualification date for the open offer (21st Mar) has been & gone... my allocation in the open offer are sitting in my account waiting for me to say yes or no..... already sold up my entire holding & can buy it back at 2/3rds of what I sold for - question is will I .....still got until the 4th Apr to decide.
Cheers matey. I've just today voted against the BOD's proposals. There is no evidence of a plan, only one of gaining £3 million and chasing rainbows. It may have been different had they told us which sector they were thinking of exploring. Can you imagine though, a reverse takeover of a non-producing company? How likely would the BOD then be to turn that into a producing entity?
And what kind of company already in production could we get for that low amount of money?
I'm in agreement with you. We'll never see a return on this investment and almost all long-termers won't break even. Why throw even more money at ORE now, if we're giving it to those, or acquaintances of those, who got us in this mess in the first place?
I'm keeping hold of what I've got, but I'd rather this stop in its tracks than people get fleeced for another year. I'm only sorry that the FCA has not stepped in to examine this operation further, in spite of many shareholder concerns being directed its way.
So you'll be chopping this off with the sword of Damocles. Fair enough. I'm waiting until it goes high enough that the broker's fee won't leave me over 100% down. Lol. I didn't think that would be possible, but it is.
Nobody already involved here will surely be willing to give these prats more of their money.
By doing this cash shell thing, it buys the management a further year of potentially doing nothing before ORE is removed from AIM. Had the BOD tried to raise the same cash, or a reasonable amount, for continuing on with a proper drilling program, then it would have been curtains much sooner, in my view.
Reason being, Bird has been an abject failure and well paid for it, in spite of the disguised optimism via RNS. He has been unable to source either a JV or funding from a respectable source. He could not have asked shareholders to stump up the amount required both for a solid program and for the wage bill, without putting us almost at death's door. I mean, the discount even on this cash shell nugget is unacceptable and the risk of any drilling has evaporated! Imagine the discount should any potential risk be introduced! Lol.
So, there will now be a care and maintenance situation only. No more thinking about 3D imaging, defining any extents, or the deployment of drill rigs. That suits the BOD perfectly of course. Bird has simply been unable to turn this around, despite his misleading RNS releases to the contrary. It's all been too much. Why though, can't people just be honest? "I'm crap, I'm so sorry, I'm resigning."
I think we know why.
Anyway, six months to find and undertake a reverse takeover, or be suspended, with a further six months to find one, or the Company be delisted. A year's grace before the final pulling of the plug then, should the new BOD do nothing whatsoever. Sounds good, with what will probably be a few million quid to enjoy (because somehow the majority of votes for the cash shell idea will be"Yes"). Oh, and of course, Bird and Slowey stepping down, yet still involved in the offer and with all those shares already. Tut tut. A wonderful recirculation of funds exercise between friends, whereas obviously, we know that Bird and Slowey don't deserve to be given any further opportunities for their own gain here.
Everything, and I mean everything, has been to the detriment of shareholders. The fact we are allowed to partake in this latest and probably final proposed offer is only to soften the mighty blow of the discount placing, and, of course, so we let them do as they please with greater ease, from their perspective. In actual fact, it's a mixture of the BOD continuing to take the pi55 and masking its utter ineptitude at the same time. It's not only a disgrace, but also the cheek of it demonstrates how they are still simply treating us with absolute contempt, which is all they have ever done.
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