There was a share placement at .45p back in March with warrants which raised about £500,000. From my memory this covers about 18 months work on the projects. The warrants are exercisable at .60p and if exercised within the time frame will add additional funds.
It is great to see the BB has woken up and hopefully this will be the start of a re rating of SRES. Long overdue. There does appear to be a seller which is keeping a check on a share price rise. There is to a constant drip of 1m and .5m sells. I have looked through the major shareholders and have a feeling that these sales could come from City of London. Looking through their RNS's and accounts they are under going a strategic change of direction towards trade finance with a focus on the SME market. I noticed that they have taken strides to reduce their investment portfolio and this seems to be their stated aim. If I am correct, then once their holding is clear we should see a rise in the share price. From my recollection they also hold shares in TYM, SRES's sister company.
For a change. In the past, there would have been a mass exit on a routine RNS. Clearly, a small section of the market is waking up to the potential. Nevada is VERY interesting particularly if you factor in the Tertiary situation...and there is Target 5 in Australia...and three gold targets right in the middle of well established operators....and the Board 's previous history. Don't bet against Damille and Charlie either! As AIM goes, the risks start to diminish considerably.
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