Not much of a secret there has already been some talks on Badile farm in (most probable subject). That's the next catalyst for tick up in SP.
Correct me if I am wrong but that was, at least in part, the thinking behind moving offices from Rome to Milan. The offices are practically next door for any discussions. Wasn't that the big fuss about Stuart Joyner (spelling?) coming to Sound last year and get the investment needed on the finance side. Hopefully, the geology talks for itself!
I'd bet they'll do a deal sometime this year. Sound want to jump into bed with ENI without a doubt. Thoughts?
Joe, could be any number of things. Maybe Brokerman & doc (Batman & Robin) will get to hear something. Sounds like another excuse to ramp up the takeover rumours..................maybe Badile form in talks; could be a UNIMIG meeting - that Badile permit should be due & we only meet with UNIMIG about 4 times a year. If they think January or February for Badile, they are going to have to start ordering long lead items soon. Badile Permit news nex week?
Crude......off out canvassing the great unwashed for our local bi election! If we don't win (I've worked my socks off).......................... I'll eat my Tshirt!
Genuinely I probably do, serves me okay though. Thankfully I don't email too often professionally. Contrary to many company models, you do not need to email a million and one people (internally focused might I add) to run a business. I'm deal maker in general, but am extra cynical with AIM investments and why I may come across defensive.
To be clear though, I was genuinely complimenting Sound here with my first post and it was the dilution patrol that got a tad angry and took exception to that remark. Understandable if they've watched 50p diluted to 12p, but to the end of the world. If you're a bull a stock it should not matter the price at that point and time (and vice versa might I add). All relative, as I said earlier. Bullishness/bearishness is forward looking, not retrospective!
You guys are okay with Sound here. She's solid and funded so again no dilution to be expected. One for the back burner and money to be made.
The market knew that SOU were in a precarious cash position after the first Nervesa drill and took the SP to the cleaners. Rapa had only just come online and SOU was still hunting for permits for Casa; our cash burn was seriously high as we had staffed up expecting progress to be quicker than it was.
Nervesa was significantly delayed and we lost an expensive drill bit while drilling. The market saw that SOU did not have the funds available to drill the second well without a significant dilution, therefore the SP crashed from 13p to 4p.
SOU diluted at 4.2p + took on a loan from an ex-director to ensure that it could progress its plans in the short term.
Yes the II paid a decent premium on the shares at the time, but if they were to accumulate those shares on the open market, they would have had to paid more in my opinion as the market would have known someone was accumulating a significant holding. Plus, with the dilution avenue the II would know for sure SOU would have the funds to continue drilling operations.
Cracking bit of business, maybe, but don't play it off like shareholders have only seen positive progress from JP. we are still only at 1.2p old money (before consolidation).
Your leading question is quite right UK, that was dilution with new equity issued (prima facie to the detriment of existing shareholders). HOWEVER, it was issued with a deemed value of 9p or something like that... at a premium to the share price at that time.
Cracking bit of business there! 99% of institutional investment on AIM is at a whooping discount, but never (NB not literally never if you are as pedantic as I think you are) at a good premium.
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