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Buy whenever you want - mine will be reserved for the Open offer stock.
Atb & have a stress free day
I’m sorry to say, but this suggestion is a special kind of stupid.
Don’t buy now, when you can readily buy under 2P, and wait until the open offer when you need to pay 2P.
Simple as this, if you believe the open offer will be fully taken up then buy now at under 2P, and if you believe they may struggle to get full take up of the open offer then don’t buy either now or at the open offer as the sp will then tank.
It’s simple logic people, don’t get suckered in.
IMHO
Exactly Bonum, I'm the same with the £7k, just another 998 of us. I have a fair amount in this already and would have been accumulating up to rig in place date anyway so it makes no odds to buy into the OO. It is feasible to raise £7m for the exploratory drill through pi involvement. 1p or 5p is irrelevant to me at the moment because none of my shares are for sale until the sample analysis is complete.
Good points Jim and why I have £7K set aside, as the last of my 'buying pot' , specifically for the purpose of acquiring the Open offer entitlement (plus whatever excess that may obtain).
This sort of prospect, accepting all usual caveats, is a rare one indeed and certainly worth being a part of given the massive Upside potential inherant.
The experienced Management team will have everything in hand for this and moving us into drilling for H1 2020.
Atb
For clarification.
Existing holders should not be supplementing their holding unless participating in the Open Offer, they should now not buy on the exchange unless they are worried a ratio limit will be placed on an individual in the Open Offer which is unlikely in my opinion. This should have been obvious but is now stated for clarity.
People have questioned why the drop in sp today?
People with large holdings will have chased the sp down today by selling to the Open Offer price so that they can raise as much money as possible to buy back into the Open Offer and ensure as much money as possible goes into funding the drill. This attempts to ensure the project is successful and therefore protects their overall investment.
Existing holders should probably not be supplementing their existing holding unless they have deep pockets as this is futile to the projects objectives.
New entries to the share could see significant gains on their entries if the Open Offer is successful as this should ensure drilling commences.
New entries could further participate by subscribing to the Open Offer when in, if this is your tactic then leave some in the locker for this purpose e.g. 50/50. Remember, it is in every holders interests for the Open Offer to succeed.