Thanks. I get your point. My situation is that if pushed I could probably scrape together some cash to spend. But if this isn't going to cost me less then I can wait until I can really afford it rather than stick it on my over draft!
That post went off before I finished it...sorry its a bit rough. I hope I'm right in saying that you would be supporting your own investment if you take up the open offer. Maybe I was a bit harsh about Ballek, I like copper.nearly as much as iron.
Calculations don't mean much in this case, the share was offered at a discouont of 14% on the day's price but that fluctuates daily. If you buy the shares on the open market they just change hands, but buying supports the price and selling knocks it down. If you buy shares from a placing then your money increases the capital of the company, you are making a new investment rather than taking over one held previously by someone else. If you think this project is going to succeed and you are prepared to wait 3-4-5 years, you would be helping the company on its way in its most vulnerable period. If the licence is not granted, then we're all stuffed. The company would argue that they have other projects, Ballek, etc but I wouldn't hold my breath for any of those.
You make a very good point Suzy, ref the addition of new cash into the primary market rather than simply buying from the secondary market. I wish I could, but haviong already invested a King's ransom in this share, only to see it plummet after promises of 'Pounds on the share price' and constant disappointment, I am rather loathe to do so. However, if the share price was to suddenly jump prior to the Sep 15 deadline, I would reconsider this offer.
All in all, I am confident, but this confidence has now been so knocked that it is beginning to wear thin now. I know the company can only work as fast as the Swedish govt allow, but we are not being kept up to date with any info (except for a few such as yourself and a few others - e.g. Kallak, Subtle - many thanks for that!). For that I blame the BoD. It really makes us look rather amateur. In the meantime, I just hope that my significant (and expensive) holding is not diluted to death!
Afty Aft, Eric. I've been thinking about some of the debates that were held last year and it could be that they will be required to make a a trust fund for environmental clearing up...all sorts of things spring to mind regarding a need for money now, besides drilling. You are of course right that the BOD should put their own money in as well as us. They could be prevented from buying shares because of a closed period, but buying shares already in issue will not bring in any more money, it creates confidence that's all.
Hey, I wonder if those taking up this 'open offer', by virtue of doing so, will qualify for further offers ahead of everyone else? Could Clive use this to categorise his own shareholders? Lol.
A bit like getting special tokens for watching the reserve team of your favourite football team play its matches, so you can accumulate the tokens and watch the actual first team play in its very best games in the future. A 'priority to loyal supporters' system. Gulp!
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