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If previous placings with this and other stocks are a reliable guide, the big volume is traded on the day of the announcement.
We now have "exceptionally high gold grades" confirmed at Level 4 (RNS of 26/03), the expected placing announced (what was unknown in advance was the exact timing and terms) and the spot gold price providing a very positive market context.
All the best to those invested, or contemplating investing, in Alba.
The new shares are not on the market yet. I wouldn't expect a company that has taken up the placing to short sell a week in advance.
"Application will be made for the new ordinary shares to be admitted to trading on AIM ("Admission"). It is expected that Admission of the new ordinary shares will become effective at 8.00 a.m. on or around 5 April 2024."
Robbie, Share placing is for 584 million new shares. Volume yesterday was about 300 million, but importantly both bought and sold. Vast proportion would be sells as investors move money away. The 500 million needs to be bought up before the share price moves again. Supply outstripping demand at the moment. Fairly confident this will move up again, but hinging on testing and verification of weights per tonne.
$2,229.87, that's a new closing high.
My understanding is the shares are forward sold at (0.065) & will be added to the rest on 5th - What I don’t understand is the massive volume of buys today not raising the share price (prob getting on towards 150K of buys today) - any insights? GLA
FUBAR
There was a time when one could sell "as delivered", ie one could sell today stock due to be delivered on the 5th. I've no idea if that still holds true or not.
True. Scheduled for the 5th.
Of course they have not; ocelot's post is misleading. You would think that if he can post about the RNS at 07h04 he would have actually read it. The RNS states:
'It is expected that Admission of the new ordinary shares will become effective at 8.00 a.m. on or around 5 April 2024.'
Placing shares have not been admitted yet have they?
So let's hope that is a significant part of the placing now recycled into firmer hands
This maybe a stupid question...but why can't lse get the trades correct?, some of my purchases show as sells! It does'nt really help our cause, if when newbies looks at the trades, it's just a sea of red!
I mean Omi hahahahahahahahahaha.
£1753 per ounce , £5.61m mkt cap = 3200oz , raise is £380,000, 217oz.
At the grades published the other day of 4oz per ton of rock, the whole mkt cap of the company translates as 800t of rock to mine and process. Of course that would be if mining and processing was free....
Same here.
Market makers buying their own shares @ 0.8 , they are allowed to do this to make the market active but gives a properly skewed view of today's prices. The fall is actually much higher than the numbers shown given we can buy sub 0.7p
Real price is over 30% down.
Even so not many actual sells going through, the market makers must have a large sell order on hand to keep the price down here against a lot of buying.
Is about what the raise today equates to, much less with the Welsh gold premium
The big drop today not justified but market is market.
If we can get processing going then apply for production
My buys showing as sells rather…. GLA
Indeed my 4 purchases also show as buys - buys are around 0.695 ish - considering the volume of buys when are we going to tick-up… GLA
I Suspect a lot of the "sells" are in fact buys .Just picked up 9500000 at 0.6975p which will show as a sell NOTa buy!
Half year results to 31/05 should be released by 31/08.
Apologies I meant half year due May- my bad - but not long to see the half year results
That 3.4m that just went through was me, my third trade of the day. Yes it was a buy. I've double my holding here this week.
I'd expect to see treble that at some point this year. It spiked that high last year on less progress.
Saigonsally, £380k is a tidy raise unsecured. Yes in the scale of opening up the mine again it's probably less than 5% of what's needed, but at this stage it should pay for a number of activities over the coming months.
If BHP was raising this it wouldn't cover their toilet roll budget, but ALBA is a tiny company so this on its own would be more than a notifiable holding.
Its all about perspective.
While we are on that topic, I do wonder what exact stages this will have to go through. Normally we would be talking about a PFS / DFS to raise mine finance, but that seems incongruous here. Alba don't have to sink new mine shafts, they just have to find the money for mining and refining equipment, and to fund the necessary staff to use it. It's possible their total finance needs could be sub £10m, or even lower.