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I just did a small top up at 6.35. I wanted to add to my spread bet position to reduce my average but IG is “closing only”sadly.
I was told that at 14p and thats the truth
at 6p bid the mcap is more like 11.3m
Spread is 6.06 to 6.34 which is a 4.4% spread... Not actually that bad for once. Tighter than it's been for a while.
The NPV figures are insane for a circa 14mil market cap.
yes it's a pretty irresistible price - down on next to no volume. Patient holders/buyers/topper-uppers will clean up.
I just topped up for the very very last time at 6.335p.
News best come soon!
Someones getting a bargain at 6.34p. Christ!
Agreed.
I got that the wrong way round re Bart and suspect you're right about the placing taking them below 3%. I wouldn't rule out any of them adding, like us, they are probably wanting to see more de-risking milestones achieved. I'm reasonably confident that we will see increased interest from 'smart money' when the in country 'risks' and issues have been resolved.
This IML is so frustrating, given its potential to turn our whole situation on its head and get into that presentation!!!
Largest shareholders - oh yes I see on slide 4, but BART no longer listed - as I said their holding prior to the placing was 3.19% which fell to 2.91% as a result of the placing. Which is why I'm hoping they are no longer listed.
LW - I cannot see where they've listed the largest shareholders shareholding - however BART Holdings is not new they have been there since the beginning but their % holding fell below the 3% threshold after the placing in Feb
Yes, It's great comfort to see that none of them have exited or reduced their holdings. Given that none of them took part in the Feb Placing (except MF by 10k shares) I think it's unlikely they will increase their holdings anytime soon so they have to attract new buying to get the SP moving north.
PFG - the other thing to note is that none of our largest shareholders have seemingly sold any shares. We seem to have added one as well (Bart Holdings). I think us retail can take some confidence and solace from that, as they always say, follow the smart money. If things go well here and they decide to add to their holdings, or we attract new institutional investment, then you can see the potential impact on share price growth here.
Yes LW it consolidates all the uptodate data in one place - which is nothing new for most of us on here, but useful if and when new investors are attracted to the investment. There is nothing new in the points you've laid out - great though they are, we already know 'em. That's fine.
What we require are new investors to move the price upwards. With that in mind I don't expect any TMS podcast until the next piece of new news... Looking at what is/potentially is coming up this year:
> Offtake
> Crystallisation of Finance
> IML
> Completion of Engineering design
> Commencement of CONSTRUCTION
> Second half of the drill results from LAST YEARS program
> Analysis of the mineral components from last year's drill program
> This year's drill program - which is looking to expand the resource by drilling at depth
> Possibility of drill results (though I doubt it) from drill program in H2 2022
>
So looks to be quite a newsworthy year all in all as you say.
PFG - it's a great presentation, simple and easy to follow with a compelling investment case outlined in it. Main initial takeaways for me:
- Titled "Entering the Development Phase"
- "Exceptional Economics"
- "Focus on issue of IML"
- $262 million net profit over 10 years - which we know is the conservative case
- Share price trading at just 10% of base case NPV
- Offtake agreement is the next key milestone
- "Issue of first IML expected soon" (page 16)
- Significant exploration upside
H2 of 2022 should be company defining (one way or the other). I suspect we will know within the next 3 months which way.
I can see everyone is as excited as I am after going through the presentation, lol.
At least we have an updated state of play on the website for potential investors - that's the positive I take away from it (I know it's marginal) but nothing negative given we all know the situation.
Interesting that MF didn't list his Chairmanship of Cooper Metals in his bio - my only comment.