No equity can be issued at lower than the nominal value level, correct. Unless there is a vote to remove the nominal value level in order to raise funds to stop the Company from folding, which is an horrific situation to be faced with, but is exactly what happened over at BHR, a coal share. A share which I am also in, and have written off, because it is now at the mercy of the lender, even though it remains afloat. For the time being in any case.
It won't happen here though, as we have multi-metal assets, including zinc. Huge.
We just need to see the strategy which will now drive this. MA has mentioned though, that Hunan could help finance our Kabwe operation and provide technical expertise on our mine. So, I hope that will be the case. We shouldn't therefore worry unnecessarily about dilution, just take each piece of news at a time.
Let's see then, but currently it is miserable out there, wherever you look.
Hats off to you for your vision. Hindsight now suggests I should've sold up along with most of us here at 2.2-2.4 area and looked to get back in with same amount at this price with a lovely lump of cash sat on the sides.
I genuinely thought we would see momentum gather, it hasn't and the recent RNS whereby MA once again kicked us further down the road by delaying Copper Production for what appears to be a good reason if you believe what's written in the RNS.
if the sp goes to 5 level, then no further dilution, warrant holder will exercise the 2.8p warrant, if the sp goes to less then 1p, then no further dilution, no equity can be issued at the price lower than ordinary level.
Can't see any point in talking about dilution. With the current sp and still dropping, and with no sign of any action in the near future, he would probably have to give away half the remaining company to attract anything like enough money. Also can we please taper the endless optimism we are hearing from certain posters which has followed the sp all the way down from 6p and more. Without news there is in my opinion little to be ecstatic about at this point in time.
I hope you are right Harl. Dilution at these levels, or any untoward news, wouldn't be good. MA needs to pull his finger out and get us producing this copper. ZEMA has given us approval, now let's do something with it.
It does feel to me that old MA is trying to drag this current situation out until the new year. Another year chalked off, another year closer to the bull cycle, the old goat. Lol.
Laughing to myself, but also a bit of weeping as well.
As I understand it BMR have two sources of finance. One of those I am sure is a bank. Once ZEMA was given assets can be leveraged because they have a value. I would be very unhappy with any more dilution .
I agree in that we don't actually know whether the matter-of-fact news is due to underlying current problems, or if it's secrecy with purpose, for a hidden upside in store, which may be a deal at a delicate stage or whatever. That's where either our optimism or pessimism enters the fray. In the end, because we haven't the facts of the actual situation, whether optimistic or pessimistic about the lack of oomph since ZEMA approval, either of the two may be misplaced. Lol.
As shareholders, we are in a tricky spot, no matter if our glass is half full or half empty.
If in this territory, perhaps the best thing to do is nothing and merely continue to hold. That's what I'm doing, and even though I hope and trust that it is very good news ahead, so I feel marginally ok, my average here dictates that I won't sell anyway, at what would be a substantial loss. I feel it would be even more difficult if I were pessimistic, not pressing that naughty "see ya BMR" button. Perhaps even in spite of there actually being no news of a major irreparable crisis. Until I hear such news, and I hope that I don't, then there is absolutely no reason why I shouldn't hold on.
I would, however, prefer a more robust pace now from MA, as this trickle of supposed or at least reported momentum is getting right up my nose. Perhaps that's just what he wants!
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