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dont believe so.both out.
Calibre now suspended at $.58 c canadian .calibre were valued at around $5 per oz and a mcap similar to cnr recently.agreed lundin is a big draw like beaty.cnr wernt listed on tsx when Beaty first bought whereas calibre are a canadian company.also I think it more influenced by the newmarket team .
I think it will take clarity on funding the mine ,permits etc to see a significant movement in sp.we have after all added 27 per cent more shares.mr martin can only be a positive for cnr.just a question of how much of a positive.he obviously sees value and has local experience and skills.
Isn't IFC still a shareholder? They were just diluted down below the 5% threshold, correct?
I thought it was City Financial that was dumping their entire stock.
btw. I wouldnt expect anything from Calibre for awhile. Pain before gain unfortunately. The market would have rewarded our shares by now If it thought it was a strong sign Randy Martin now has a significant stake. His warrants are probably cheaper than 99% of the people in this chatroom's entry share price.
Over at Calibre:
Dec 2018 was trading at $ 0.325. When the market found out Lundin had taken a position in Calibre, the stock price went up to $0.74 within 20 days. He's made MANY billions for shareholders, that's why many of his partners, retail investor, Private equity, funds, follow his lead.
Look at our share price.
"A price of 22 p hardly infers much incentive really or management confidence in the future sp."
Well Seingred, the idea is that the employees use the options to buy the shares, the lower the price the more likely it is they will. Remember, most of them are not millionaires, they are salaried employees. The options are already with the exchange so the dilution has already occurred, unlike warrants, so you want the employees to buy the options and holding the shares incentivises them to work hard to make the company succeed - not only have they invested their time but now they have parted with cash to purchase the options. It's called having skin in the game.
El,Agree mc is a good ceo who has been stuck between a rock and a hard place for some time.
The big boys have significantly lowered their breakevens now .cannot see mc £1.50 forthcoming until successful production so plenty of time to come and go in this share I suspect although I do believe we are hovering around the bottom hopefully.
Yes, I agree. Pricing the options at >30p along with an accompanying statement that the management believes that the SP is abnormally and unfairly low due to large II disposals that had nothing to do with the company, and therefore was pricing the options accordingly, would have turned a(nother) PR fail into a win.
Possibly there are some restrictions on what the company can and can't say regarding the SP, but I'm sure something could have been worked out, if there was the will to do so. Despite the naysayers, MC is still much better thought of than many in his position across AIM. Imperative that he doesn't waste that goodwill, particularly in the absence of concrete positive news.
From memory I think mc aquired unwanted warrants during a placement a couple of years ago for 1 p.
A price of 22 p hardly infers much incentive really or management confidence in the future sp.
carpetbagging imo.If the company is in a transformational stage what justifycation in warrants at such a low price.imo they should be priced similar to before the ii sell out ie 30-40 p
Warrants are "fully transferable". What exactly does this mean? How does it work? Are the IFC's warrants gone forever, or were they transferred to another party?
When the IFC sold out they also lost over 2 million warrants, dilution is not always a foregone conclusion and the options still have to be exercised, clearly not all of them will. Personally I'd rather take the possible dilution if the staff feel incentivised to work hard to make the company successfull, than pinch pennies whilst I sit on my butt expecting others to make me money. But that's just me. :)
Dont often see proper rights issues on aim and when you do its more likely to be in a basket case like crnd .
I am sure that there are many investors here that would have loved to have bought in the recent premium raising and recieve the same warrants.
LlEl,I didnt remember who had mentioned 100 m so not having a personal dig at you .you have always been a reasoned poster.anyways,I have been voicing caution and reality here for over a year and taken nothing but flak .
Not predicting, Seingred, hoping. Read my previous post. As you can see, I am disapointed with the recent dilution. No need for your told-you-so attitude.
EL,not long ago somebody on here was predicting going into production with circa 100 m shares in circulation.some need to get realistic here I think.There is much work to be done and paid for.we are 3 years from full production imo at least.yes conversion price is pretty unchallenging.
there is Likely to be a much larger placing to come yet which will be very painful at these levels.
I been reducing the last few weeks and moving elsewhere.still going to keep some here but I dont expect any fireworks any time soon.
Cant say these dilutive options, at barely over current price, are nothing short of a freebie. Really options should be at target price to drive management. 1m for MC means if he hits £1.22 he will walk away with a million and realistically while he is hard working and politics aside he has rather let Condor creep and face this drop over last 3 years. To reward with lowest option price ever agreed between themselves is a little unsavoury. Its not unrealistic a target with a toll deal agreed and BFS in the bag. If we got a long-term toll deal we would be well on the way to profitability.
They state that the options can not be excersised within 12 months of issue date and only 50% can after 12 months so not to bad.
I agree that Mc needs more clarity regarding funding / toll news especially with £4m raised recently. Fair to say there’s a 20p floor being slowly put in.
I did wonder whether MC et al would forego options this year, after there was no mention of options at the AGM. I don't begrudge MC and other employees a financial incentive, but 22p is not exactly challenging is it.
My running total of the fully diluted number of shares, if all options and warrants were to be exercised, is now up to nearly 120M, and that's without BFS or construction financing finalized yet.
I'm still bullish, but the financial situation is starting to worry me. Any comments?