I have just calculated that as TGR (TSX.V) own the other 50% of Itogon, then as they have just over 9mill shares, each one is worth roughly 520 ecr shares. Now, including the latest dilution, based on an SP of .0005 then 520 are worth 26p. The last trade for TGR was 19 CENTS or 10p, so the question is, when will TGR's SP catch up ???
Not at all happy with the BOD. Have no issues with raising funds but 0.45 is just totally stupid. BOD should bow their heads in shame. Does seem at the moment they don't want the share price to increase so all the mates can get on board.
Timeles, the RNS is great news until you get to the price. I think this drop is overdone considering the amount of the money raised and it'll bounce back fairly quickly however I'm disappointed we have given these shares away at mates rates. It's just killed the momentum of the last couple of days.
The proceeds of the Subscription, which was entered into by the Company with a single high net worth/sophisticated investor, will be applied for general corporate purposes. The Subscription is conditional on the admission of the Subscription Shares to trading on AIM.
As previously announced, the Directors expect an initial NI43-101 resource estimate and technical report for the Itogon gold project in the Philippines to be completed in September 2015.
Read it and ask why £45k has been given to ECR
Do you not think its the same investor from the original fundraiser who knows more than us, this is £295k raised privately and not with YA
Confirmation of when NI43-101 this month and a small window of opportunity here
As usual one or two get spooked but its a clear signal
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