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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?
.............of an overreaction to the placing :-)
I'm starting to think society has lots its ability to put things into perspective, it's laughable.
However, on the plus side, making a profit is easier for the rest of us.
I was invested here for some years and sold out in 2022. On watch list and what stops me going back in is lack of info on when revenue from gold sales will commence. The raised amount won't last long and could another raise be needed in six months? Use of funds also refers to acquisition which must be pie in the sky.
We as shareholders at some time must have agreed to the company offering shares without first offering them to existing shareholders so there is little point moaning about it now, the place and time to do that is at the AGM!
In saying this yes we are being manipulated but we still have an option to sell and bale out albeit for most of us at a loss, having been along term shareholder I intend to stick around and still see the current price as a buying oppurtunity.
Yes overall it feels like kick in the teeth but the fundamentals don't change and several years on we are much closer to realising the fuller potential of this business!
Have any of you ever invested in mining before? Where exactly do you think the money comes from pre-production? Every activity has a cost.
So the raise is at a price lower than I would have hoped, 7.5 would have been better than 6.5, but is always going to happen at a big discount to the open market otherwise the company stumping up the money for the placing would just buy on the market.
The good news is the numbers are starting to look more serious, £380,000 is a tidy raise.
To build out a full scale mine this company will have to raise millions, not a few hundred thousand. There will be bigger placing down the line, and potentially open offers too.
If you're a big enough idiot to think raises are not the way to do this then come up with another way the company can pay staff, labs, geophys surveys, security, buy equipment, pay licenses and so on.
And also LSE!
Again - please don't believe everything that you see as usual with regards to buys/sells.
My buy at 08.33 for 800,000 showing as a sell
Long term holder of ALBA and member of iii
Can't believe companies get away with deliberately holding off good news, then publishing it prior to a fund raise. Sucked all those punters in then screwed them.
Another GF farce milking this company while share holders are shafted well done George
Important to avoid knee-jerk reactions this morning and keep things in perspective.
To date, there have been 3 trades of 6m or over.
Today's RNS does not call into question the RNS of 25/03 or the very exciting prospects for Clogau and the Dolgellau gold field.
You can predict this everytime. Rootin tootin yosemite George needs his summer holiday. Give a little tip bit of news and screw everyone. Rinse repeat. Would love to see him as an apprentice contestant. Lord sugar would rip him apart.
'Where the business is at I look on it as at least it can still successfully raise funds in the market.'
Having to offer a 30% discount to raise an additional 7% of the issued share capital and leave the entire market cap down by around 20% is not a success.
“RE: Re placingToday 08:16
It is difficult for sure.
Where the business is at I look on it as at least it can still successfully raise funds in the market.
But how many more rounds can they go?”
We were told no less than exactly *THREE YEARS AGO* that they would be using the waste tip spoils to generate “early” (laughable) revenue streams to mitigate future placing. Not only has there been SEVERAL since that time, but we learn this week they’ve not even tested the contents yet of the spoils and still require planning permission (IF!) they find there’s economic quantities. Seriously what have they been doing for 3 years. Every time GF describes their current activity and timescales, it sounds like people milking a wage and getting paid to turn the handle on a cottage industry.
'More news to come soon'
ocelot will always try and put a positive spin... All that extra work requires pay for the thirsty workers so expect news of another placing; that way you will not be too upset when it happens.
#nookie im lost for words, lyterrally it was going to happen but the timeing is somethink else im left holding im not spending one penny more in this even if they found an kilo brick of the stuff i have no faith in alba what so ever, vasaline and **** comes to mind
Processing and interpretation of the airborne geophysical survey undertaken over Alba's key regional gold targets continues, with results expected from the first survey site, Clogau, in the week commencing 25 March. (RNS of 22/03).
I bought this and Omi last week. Might buy some more depending on sp