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We know you have to raise funds but when are you going to produce 1 gram of gold my wife has a better production grade after finding my 7 gram wedding ring in the garden having been lost for 8 years
We've raised some funds today. A few thoughts on that. Some of this may be obvious to some (sorry):
As a pre-revenue company, we have to raise money on the stock market to fund our exploration & development work.
We depend on positive news and developments across our...
9:27 AM · Mar 28, 2024
Alba Mineral Resources
@AlbaMinerals
·
1h
...asset portfolio to attract funds in what is an especially tough investment market. Thankfully we have made really good progress at Clogau in recent times after significant challenges (especially permitting-wise).
The last time we raised money was last July, so 8 months ago.
Picked, £380,000 is not a tidy raise; it is a drop in the ocean. It will last a couple of months. If GF were a serious businessman with a modicum of concern for the shareholders he would do a decent capital raise using a rights issue and that way we shareholders would not be diluted and the market cap would not be smashed for a pathetic sum of money that keeps us going just a couple of months. GF in his video made not the slightest reference to capital raising and frankly a decent lawyer would tear him to shreds over it. I am surprised it hasn't been taken down yet.
Hopefully the 150t bulk sampling will produce as well.
Conservative assumption at 2oz/t should give £300k gold, plus Clogau markup, maybe circa £1million for the bank account.
Seems shrewd to me to prove it all up. Even half of this would be good news.
Bobrad, 10.3g assuming double or treble market rate 10.3 x 56.37 x 2 = £1160/£1740
Agree with that statement fully
Pickedpeck
You actully get permissions to develop and progress the main asset (Clogau) BEFORE you start buying up slices of oil fields and patches of dirt in Greenland that come to nothing and result in catastrophic value destruction and......wait for it.........PLACINGS to support the consistent failure.
You 'obviously' process the low hanging fruit and send all concentrate from the waste tips off to be converted into GOLD and SOLD to help fund the re-opening of a simple, previously constructed MINE that required/requires NO blasting, digging, or major construction.
You walk past the walls and seams that are there for all to see and get a human to hold a drill and start MINING the rock for it to be crushed and sent off for processing.
You don't spend well over 5 years LYING about expected production start dates when you can't even get permission to rehouse some Refugee Bats and cuddle some Otters that may or may not be swimming about in the Jacuzzi ALBA provided for them when it emptied a hole in the ground at great expense and then watched it fill back up again within a few days.
ALBA Minerals, the only company that pays to drain a cave of water and ends up with MORE water in it when the lads knock off for the weekend. Take a Bow George.
And as the piece of useless kit that for some reason could only come from South Africa (that didn't work), you obviously weren't invested back then or you would know it was yet again.........a complete failure.
Never mind, only a QUARTER of the value of this dog-toffee company wiped out for less than £380k, I'm sure GF will get it right........This time.
Oh, raising money for business is easy if your plan makes sense to the investors. They expect a return and want to see the previous track record of the company in question. My boss has raised over £12 million to fund legal claims so he doesn't have to use company funds upfront, it wasn't difficult for him to do so because he has proof of concept, and those with deep pockets come back for more because strangely, they LIKE having returns on their investment with no requirement to lift a finger other than to sign a contract.
GF can't even lift an otter out of a hole without a placing.
No more from me to you mate, good luck setting fire to your cash (before GF does).
Does any know the value of the gold they reckon to have recovered.
Value-enhancing activities. I do hope so as it has done nothing but go down ever since they hit lse.
Gf said he would finance from tailings instead of dilution?
Good debate here today
I’ve made several chunky buys this morning all showing as sells - bit of an overreaction but expected - lots of news to come inc more gold (my understanding is we've only received 3 results of 40 thus far) -!id like to see this gold auctioned off to raise funds & raise interest! GLA
Picked,
It’s encouraging if they raised funds supported by pre revenue. Not impossible.
Thinking about it they have been so many rounds now a lender it probably going to seek that kind of security.
Funny how when a share drops substantially people you've never seen post before pop up spouting dribble .
Tygra - horse sh*t. Nothing in your post makes sense let alone rings true.
Tell us, how do you develop a mine without money?
a - place shares
b - raise unsecured debt.
c - fail
Which option would you have them pursue?
No. They are aged corporate finamce weeks ago but likely conditional on reporting acceptable grades. Do you think a lender is going to hamd over money at total risk? The price will have also been agreed pre news spike. It's a lenders market, put yourself in their shoes... Oh wait, you are. Woudl you buy more shares at the price they have offered given the latest assay grades? I have and will buy more.
Hands up anyone that has actually raised money for a business? How about a business preincome?
To those STILL fluffing this CEO and expecting a gold mine in Communist Wales to make any money for shareholders, give your heads a wobble. How many placings to empty a few buckets of water out of a hole only to watch it fill back up again because (surprise surprise) it rains in Wales during winter?
Not a single gram of gold sold and a supposed pile of waste that you could sift with a bucket and spade and STILL there's no RNS that has a £ sign in it. They bought a special piece of kit from South Africa a few years ago when they said they were starting production (how did that turn out?), it didn't even work and sort/shake as it was supposed to and looked like it was bolted together on an episode of Junior Scrapheap Challenge.
It's a gold mine, there's gold down there, it's already built, it was in production up until about 1998, it's in the UK and there's jewellers waiting to take the Welsh gold, but STILL they can't get a single gram of saleable gold out of an actual gold mine after more than 5 years of placings trying to do so.
Pathetic
“ Oh and another thing, of course they are going to raise after good news. They get a better price from corporate finance off the back of it. In fact they are probably ONLY able to raise after good news, or would you rather they raised at a lower price without the news?”
So you think they arranged corporate finance in 24 hours and agreed upon a 35% discount at the previous close of circa 0.1? Think again.
At 09:17:05 - one more buy in the red column of sells
Jg, I take on board your point. I’ve been here for years but not decades.
Is it slow? Yes
Is it painful? Yes
Is it burning cash? Most likely
Is it under capitalised? Yes
Do they need to prove up a decent revenue stream? You bet they do and the clock is ticking
Currency is getting harder to come by these days, the market is tough. They raised risk money successfully this time against an unproven asset. Could a new person in the chair do it in this market?
Just bought another 1.5m at 0.0688. Crazy price given the potential now.
CMC are behind clontarf also and did a similar raise last month. Worth keeping an eye on that as benchmark. Might be comparing apples and pears, we’ll see. But I did reinvest in Omi who are going into a highly prospective area that HASNT ALREADY BEEN MINED OUT and did a raise a few months ago.
Most of the trades showing are Buys not sells.
Oh and another thing, of course they are going to raise after good news. They get a better price from corporate finance off the back of it. In fact they are probably ONLY able to raise after good news, or would you rather they raised at a lower price without the news?