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According to last update, the placing gives CLON 18 months of funding to progress the various projects we are all too familiar with (Tano Block being the main one) . At least we are not going insolvent anytime soon.
Nick, exactly. Delay in TR-1 is harming the SP. I will give to end of this week and if no TR-1 I will be emailing AIM regulation (with a copy to Monecor).
Yanis This mornings flurry of buys shows how many are on the side awaiting 'seller cleared.
Still no TR-1.
Monecor in all likelihood is indeed breaking AIM rules. It is unimaginable that in a volume of well in excess of 300 million they have not sold at least 7.8million.
Paula haven’t you got any other shares you have lost money on. All your posts are on CLON or PET and none are supportive. We get it , you lost some wad. Either get over it and move on OR hold and wait to get a decent exit price ie over 3p. In the mean time can you give it a rest.
I reckon this one will be a winner IMO.
Looking lively this morning!
DYOR and gla
Yes I agree Nick that is a realistic possibility. One of the problems here is how broken spirited many of us are and how little confidence we all have. We make statements such as ‘fill your boots’ and ‘perfect time to buy’ and ‘this will spike any day’ but when you study the language we use we tend to include -
‘I don’t think’, ‘I hope not’, ‘hopefully’ ....::imagine we were were being sold something and the person was using these type of low confidence words. Let me be clear this is not an insult to anyone as I use these type of words. It’s reflective of how much faith I have lost over these years
I am waiting for news on Bolivia, news on Ghana, Nigeria and anywhere else but there is no doubt that there is a high possibility NOTHING WILL HAPPEN excepting the company’s directors being paid.
Well the Tano block has been dragging on a long while, but a change of regime for a few years seemingly played it's part in the delay. What I don't understand is why is it still dragging on (yes the covid delay I know)? Who knows, we could be surprised yet so every investor has to evaluate for oneself.
Tano block ? Ten years ago Ghana realised the kind of chancers that chancers Clontarf were. There never was a chance that the Ghana Govt would have anything to do with Clontarf or Petrel or their ilk. Sorry folks but that's the truth. The truth won't stop the pushers and bluffers.
Nick, Tano block written off? I hope not lol. I don’t think they will do that, hopefully when Covid eases off negotiations will continue. I don’t see them walking away from it.
Thanks Yanis, you're research here sounds fine to me. I guess the future of CLON and it's market value mostly depends on it progressing the Tano Block (ie ratification), which I thought was imminent two years ago and progress on the lithium project which is very recent. so will require alot of time and funding I presume.
What I fear most is the Tano block being written off with a resolute non ratification clarification which would be disastrous as the mkt value still has some hope in it.
Nick, no shares have been forward sold in this case. If you look at the RNS and the trading activity you will confirm this.
The placing RNS came out on the 6th of May for a placing of 153.8 million shares to be admitted to trading on AIM on the 12th May.
From the 6th to 11th May there was effectively no volume, then the volume hit from the 12th May (day of admission to trading on AIM) onwards.
All shares sold in to the market. We don’t know how many shares Monecor currently holds as there was no recent TR-1 filing. What we do know is that at COB 21 May they were holding 41.9 million shares - we since traded well in excess of seven times this amount.
Monecor is not an investor, they are a broker and therefore they will sell all those shares.
They sold most of those shares with a hefty profit and IMO they can afford to wait to sell all with a profit. They could of course sell some below placing SP (0.325p) to clear them out, but why do that?
Yes cheers Yanis. How I understand things is that normally the shares are forward sold and the broker then simply picks up it's stock cheaper afterwards.
Am I right to presume many were forward sold and this remaining amount has been paid for by Monecor at 0.325p.
Is it possible they won't sell the remaining stock sub 0.325p as the market buyers at this moment are very few now. Cheers NR
The placing is handled by Monecor. They sell the shares in to the market. Last TR-1 indicated that they had 41.9 million shares left as at COB 21 May.
Anyone know exactly how the placing was done and with how many investors? Was any forward sold? cheers NR
Gulable, in all likelihood they are breaking AIM rules. The fact they did not file a TR-1 knocked the SP off. If they don’t file one this week I may contact AIM Regulation.
Yanis haven’t you realised yet that they’re all a bunch of crooks in bed together.
Monecor appears to be late in filing a TR-1 and this negatively impacts the share price.
Last TR-1 was filed on the 24 May. In this they indicated that they crossed the 5% threshold on 21 May and they had 41,865,385 (41.9 million) shares left, 4.808%
It will take a mere 7.8 million shares (0.9% of 870.8 million float) for Monecor to cross the 4% threshold and have to file a TR-1, yes … when they sell 7.8 million shares or more they have to file another TR-1, normally within 2 or 3 trading days.
Since last TR-1, between 22 May & 11 June (last Friday) we traded in excess of 320 million shares … surely they sold at least 7.8 million in to this volume?
They do appear to be breaking AIM rules. Worth contacting AIM Regulation on this?