Ed, you make for good reading as always. CSP has been criticised in the past regarding his leadership, some of which was wholly unjustified imo, he knows this, this was an opportunity for him to tread where he is asking others to walk. A little help from PI’s for PI’s. atb
Regarding the offer. I think the take up will be quite high as a lot of the offer shares were pre sold to ii's. The offer to pi's was a massive 1 share for every 21 held. If the take up from ii's had been low it would have been more likely that we pi's would have been offered 21 for 1 rather than vice versa.
As to the SP. It's not unusual (Tom Jones told me) for the SP the go down to or below the SP prior to the issue and then open higher on the first trading day.
Not to long to wait to find out. Results of offer : 19th Sept Trading commences : 26th Sept
One plus point to remember is that we do have a remarkably low number of share in issue compared to many junior explorers
BEM 325 million REM 5.7 billion RRR 2.1 billion BHR 2.4 billion FRR 2.6 billion
I feel reasonably confident at the moment but of course I cannot foretell the future, only chartists can do that (pause to extract tongue from cheek).
Fingers crossed for news tomorrow of a high level of take up.
Good post Ed. Just think some of us are getting fed up of waiting for this decision and all the while seeing our paper losses accumulate month upon month. With the Concession it will be significant news, derisking the investment further, but such Company-changing news will unfortunately have less impact now, because the starting point for any rises that such excellent news should bring, is getting lower each month. Substantial rises will take us to a lower high, which may not be good enough for many of us in the end. Unless of course, Clive has already agreed a sale for Kallak in the region of a quid per share, then it's all gravy. The iron ore prices are way down, but it's at times like these that we need our Chairman to shine and keep shareholders optimistic. Regular updates would assist. He hasn't yet attempted to stop the slide has he?
Still holding strong with the Wulf, but I'd love to see this sp much higher before we get this licence. Company-changing news should be just that, of benefit to all who have given their financial support over the years, i.e. a reward for all loyal shareholders. If the sp continues to descend, or at least stagnate before groundbreaking news, some of us shareholders, the long-termers, will not now see gains here beyond our average buy-in prices. The current bear market isn't helping with our fortunes, nothing we can do about that, but neither is our Clive, with the recent paltry "Open Offer", no buying from the BOD and a distinct lack of confidence-building updates. If we are caught in a political crossfire or are dawdling because of the changes to the mineral policy, just tell us. Keep us and the market in the loop. Not difficult considering how much Clive draws in wages.
I hope he reads this, cares about the demise in the market value of our Company and tries to do something about reversing the slide.
I was about to post – a quick look at the BB – oh my word! I walked, head on – into – the 22.25 Goyathlay express coming in from Yale! Another 8 hours tomorrow down at the local library, skirting from history to science, in search of a bldy clue. Do keep it up. atb
Ed, I don’t disagree with anything in your post at all, I remain confident re the concession. That said, for ‘us’ to raise as much as possible from the offer, we want to have maximum take –up! This was CSP’s role to ensure absolute, from his PI’s, by means that were available to him. It doesn’t matter which way much, we all cut it, and the result is the same – some lack of confidence in BEM. This can never be a good thing for CSP in his 9-5 these days. Bad call imo. atb
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