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My only concern is I have to move out come January and lord knows I anit earning enough to stay above water for long thanks to a knackered spine. So to those EUA stalwarts who ponder why some may feel the desire for a divi before Xmas. There you go, some people have timescales in mind when investing. But hey, I am a stalwart so I'm prepared to go couch surfing for some months into the new year. Be nice if a deal map was tossed on deck before then so I do not have to though. GLA.
Tigra - agree that 'urgency' would be another reason to do the placement now rather than raise funds from the asset sale. This can work out a number of ways now but all positive reasons from my perspective. I don't think that that todays RNS means the asset sale is further away. Let's see.
Skippy, re your second paragraph. Thanks, you’ve just put the placing into perspective for me using words that obviously sunk into my thick brain. I’m lots more positive than I sounded in my posts earlier this morning.
ATB Pete
Mmmmm discount to placing.. Yum!
Tigra - re point 2. Remember that the proceeds from a cash sale are subject to a number of expenses. Even if the sale is worth billions a company does not deliberately decide to find less efficient ways of raising cash for 15m. So it is more efficient to raise funds in this way via a placing and aportion it directly to the JV.
Also todays RNS makes a lot of sense if you consider that the JV may not be part of the asset sale. clearly I can't know anything but if I was selling a large part of the business and retaining another part but I was concerned whether the remaining business could advance it's strategy I would raise funds ahead of the sale as the SP + the potential divi makes it much more attractive to investors taking part in the placing.
Basically, every ii and their gran, family dog, and goldfish wanted as many shares as possible at 26p... surprise surprise, but they've sensibly restricted the giveaway to prevent further dilution.
All good, and get topping up at todays prices!! Market is generally down too so make the most of it:-)
GLA
JT & all
Morning & as mont says could it be multiple tossing dosh in ,
One thing for sure this was completed orchestrated in last few weeks manipulation of the highest order # shenanigans
14-38 & back to 26
All the ii , mms , & brokers having a Massive financial orgy of brown envelopes at the urinals
Rums all Round
Skip & all
That’s a fair point & I will dangle my meat & vedge over the port side for the seagulls to peck
However does highlight ii very confident to toss dosh in .
Rums all Round
@JTMacs - "This is over the 3% decleration rule ???"
I thought so too, but presumably it could comprise multiple investors, some of whom might have already traded a few?
One other thing worth noting about today's RNS: we gave them the authority to issue up to 500m shares at the last AGM. There was an awful lot of panic around that (previously it was 250m). But they've only issued a fraction of that authority. That implies at least two things: they mean what they say about wanting to minimise dilution; there may still be a plan for the other 400m or so, which is the establishment of EUA 2.0 to pursue whatever is left from the Rosgeo JV. However, I can't help but think that what we're seeing now could well be about potentially selling the whole kaboodle in one massive transaction.
@Ibiza - That bit stuck out to me too, like a massive sore thumb. It was already fairly evident, but if it is being (a) confirmed as (b) even more evident, then we're talking WA announcing to the western world that, as far as they're concerned, there is more than 106m oz available. Imagine the rocket that will put under the share price.
Morn Captn n crew :
Just done a quick calc as below for the total holdings -:
RNS 20th Sept Rosego JV dilution- :
The total number of ordinary shares to be issued pursuant to the Private Placement, and assuming exercise of all of the Warrants, is 83,103,126 new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares"), which would represent approximately 2.87 per cent of the Company's enlarged fully diluted share capital of 2,895,111,558 Ordinary Shares.
RNS 20th May - Rosego JV Dilution:
The total number of ordinary shares to be issued pursuant to the private placement, and assuming exercise of all of the Warrants, is 106,613,502 new ordinary shares, which would represent approximately 3.72 per cent of the Company's enlarged fully diluted share capital of 2,865,315,183 ordinary shares.
So total shares inc warrents = 189,716,638
so 190M / 2,895,111,558 = 6.55% Holding.
This is over the 3% decleration rule ???
Anyway - might be an idea to check my numbers - if correct then use in your stock tracking.
Rhums all round
JT and SL - MD kipper watch
Hi Tilly, reading what JN said that the potential of the JV is becoming "more evident during the course of the confirmatory work being done by Wardell Armstrong International in relation to both PGM and battery metals" do you think EUA and the II, have seen a preview and know what is out there? Surely, that has to be a big positive for us?
GLA
Tilly - I didnt think the RNS was referring to the asset sale deal in the RNS but more specifically to todays placing. i.e. they received an offer for a more sizeable placing:
'After receiving a more sizable offer, the Directors have decided to limit the size of the Private Placement relative to the offer to minimise shareholder dilution and at the same time place the Company in a stronger position.'
Very positive in any case IMO
Before Xmas please
BOD & ii hold 50% of stock
BOD not sold a bean .
& now ii queuing up for stock investment like haddock at at a Whitby chippy on bank holiday
& why if not to get a huge return on investment….
Rums all Round
So plenty of cash in the bank £35 million- JV funded
Significant increase in Deal offer - so we best upgrade the Divi status to Biblical !
Piper & UBS backed by WA - negotiating best deal for stockholders
Rums all Round