When it says it's oversubscribed that makes me think a few parties/investors have taken part not just one. There are a few companies especially in this market where the BOD are taking part of the salary in shares. It makes sense. To me they were just trying to raise small amounts hoping that the concession would come quick before raising further amounts. That would make sense. A few weeks ago they must of realised they weren't getting a quick decision which is what they and us were hoping for hence today's placing.
Nothing out of the ordinary and I don't think anything is a given. Just have to take it at face value.
this placing raise's more questions than answers. 1. placing over subscribed , who invested ?. why not put an offer out to existing p i's , did they want to exclude us as the shares and placing where ear marked for an approved investor ie lkab at the behest of the Swedish government. 2. why did beaufort accept shares above the placing price in lieu of fees's . do they know that approval from the government is a done deal , they must know who picked up the shares ie , an approved Swedish mining concern . do they know the end game , sale or mine. must be confident of getting a handsome return . directors happy to receive shares and not a wage . why? .why raise just enough money to keep going short term. whats your view , I now have the worlds biggest head ache.
I hope your right but I just see it as raising money because we are in effect skint and at a very poor share price! Disappointed today is an understatement. The financing was obviously sorted at a price a few weeks ago, but still thought we would of done better than what we have got. From 2p to 1.25p doesn't sit right but I guess they didn't know the CAB would respond so promptly. So the money will be used to advance the strategy, I.e seeking a partner. In other words keeping the lights on until we receive the concession which can come anytime after October.
Darwin? ………. We each read things differently Eric. Caution to the wind, now! However, I’ll choose my words very carefully Eric for many reasons. When one is both, on the ‘ASK’ and ‘SKINT’, time is a factor, it will then become a negotiating tool as a matter of course for those who have time on their side, a fundamental fact, commonly used. On this, I think we may agree. The main players here, (BEM are not, exploration permits are given and not taken) will see to it, that this negotiating tool will not be lost. Any big mama involved will have very persuasive powers that are far reaching, and may very well assert influence over those, whose objectives is to maximise their margins when only the fore mentioned is in control and chooses to do so. You know how BEM have struggled over the recent re finances, and how things were structured? See if this example fits? CAB have done a complete U turn, somewhat justified by a bullshxts story. Would we have not been better off financially if CAB have had today’s opinions in last year findings? - Indeed!! We are witnessing politics in action. Kurt has bought some time, that is something that will now have to become a focus for the Government. Today we are in a better position than a week ago. imo. atb
Sorry for you Mick, didn't see this coming. I'm trusting the 1.25p was arranged a few weeks back though, because it would otherwise have been irresponsible to have granted such a reduction to what was the current sp over the last day or two.
In my opinion, the placing news should have come first, before the progress news, or as Pocko mentioned, at least have been released at the same time. I think on this occasion Kurt has dropped a clanger. He should already know how shareholders are feeling with this agonising wait we've been subjected to for the Concession decision. Not impressed at all, but we have to bite our lips again and carry on. We know it isn't plain sailing.
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