The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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The share price was 0.0195 priior to placing so it was only a 24% discount.
Your figure of 50% plus is how much of the placing shares make up the whole company shares
...immediate effect. You are totally incompetent for CEO position of OUR company. The longer you stay the more harm you cause....both internally and externally to SH. So please do the right thing.....
It’s pretty hard to be optimistic when these fools have decimated value in the company.
I’ll keep saying this, LR the incompetent clown, must go now.
How much more lower can we go, it’s just one way traffic at the moment and that’s down, everyday further and further, stick these in the most lowest draw I can find and forget about it now, write this one off, at least for the foreseeable
Guys we need to look at the bright side of this crap raising - at least we have the cash! 23% discount isn’t as bad as soooo many 50%+ ones recently.... not making excuses because money should been raised ages ago.
Will rocket in next 6 months - zinc looking very strong!
Is artificially low because of mismanagement - the asset is the same and we now have £1m to use.... money was the big problem.
Now we can infill drill and take to larger companies who want the zinc lead and silver. Simple.
just annoyed we raised at this stupid price - i decided to average down after being forking furious.
Its a bargain for newbies!!!!!!
100% - couldn’t have put it bette myself!
DW, "Cynical" is a great word for this debacle.
I have remained quiet about this over the last few days as I was fuming when I read the RNS whilst at work. After having the weekend to mull it over and try to think of a way forward, whilst not being happy about the situation LR and Co have put us in, we must try and look at the positives, albeit a little hard to see.
I did own 1% of EUZ, now circa 0.50%, but would you rather have 1% of $20M at discounted price or 1/2% of $200M going forward with indicated metals resource. With no funds we almost certainly would have got no return at all, and the asset is still there for someone else to clean up.
As painful as this certainly is, at least there is now a light at the end of the tunnel. Dirty tricks, YES, misleading, YES, Insider trading, ?,but one thing for sure is we now have cash to continue to move forward, hopefully quickly before another cash call is required.
As for LR, I also think his bad handling of matters could all be undone in the next few weeks / months.
The big question I ask myself is do I buy another 55m at these low prices, average down, and get back to 1%? Either way this is a "put it in the bottam draw and forget about it for a while".
What I see here are a couple of insiders lining up cheap shares ahead of payday, being MC and CB. They know exactly what's going on, how far the project has developed and what negotiations are taking place in the background. It wouldn't surprise me to see some deal struck for Toral within a couple of weeks, but certainly six months, max. They wouldn't have ponied up the cash if it wasn't a dead cert, not would companies in which they are intimately involved. This smacks of insider trading and the timing of the announcement, being Friday, tells its own story.
Yes, there's money to be made, but whatever the deal is, you can be sure it will benefit the directors first and the shareholders second.
LR whatever reason wasn't part of this fundraising. I can think of three reasons: Shut out of it, can't afford it, didn't want to be part of it. I can't see how he can stay on. He should stick to being middle management.
The only thing that got shot was LR's credibility!
Well I don’t know what to say about the sp! We knew they needed money but heck! Down 87%! Stick this in the bottom draw and forget about it!
He can’t win because of his incompetence..or being a stooge for the others. I’ve no sympathy for him. Whatever has happened, on his watch the share price has crashed ( including on the other company he’s involved in ) ..he has to go.
What annoy s me most is that on the face of it this asset should sell itself. I was cautious about buying in as I did a bit of research but didnt sell out most of my stock until it was too late. Im going to wait before getting back in but I really want a proper management update and detailed plan of action before that
Trying to work out why LR didn’t partake. He’d be called for buying cheap and called for not buying so he can’t win.
Agreed, there needs to be new leadership, and this time, someone who has only one job. Whilst the sp tumbled and our calls for a steadying update of anything went unheeded, all I could think was “Nero fiddled whilst Rome burns “ the existing shareholders have been treated appallingly badly and we are the owners. That’s not good enough.
The thought is the CB and MC said to him you can’t invest at these prices because you’ve cause this mayhem.
Or he simply doesn’t have the money to invest heavily. He admits he didn’t handle the SS news to market correctly.
LR has to go. He's made a right mess of this!!! IMHO
I'm in a similar situation to you here and BZT.
Robbed...and in so short a period of time.
That's one interpretation, another is that they presumed to raise off the back of the Scoping Study but didn't anticipate the reaction of being unable to release figures with it. Either is unforgivable. One way they're either pondlife the other they're completely incompetent! To my mind LR not taking part in this fund raising is the last straw, simply unfathomable unless he has zero confidence in the company. How did he think it would look? It doesn't take even a modicum of common sense! I remain invested albeit now heavily diluted and down 86% and to my shame down 75% in his other poorly managed company BZT! Where no doubt he 'manage' the same trick of massive dilution! Absolute shower of ****. They should be ashamed of themselves. I've pretty much written off both of these investments. I'll hold just for a miracle not because I believe he can work one but he just might get lucky with a commodities upturn and get an offer. That's the only chance I see of getting some of my hard earned back but God knows how long that might take!
they are pond life. It would appear they have not raised money at reasonable prices, instead used the funding uncertainty to drive down the share price & then take 2/3 of the company at giveaway prices. Totally screwed existing s/h's.
Havig warrants is good - these are priced so cheaply though so it’s so painful!
But if we do good more money for company and we move forward
They can raise £800k without doing another placing.
Positive to me, but horrible for us!
Can someone explain to me in layman's language?
"In addition, one warrant exercisable for a period of 3 years from Admission at a subscription price of 0.025p per Ordinary Share will be issued to all participants in the Fundraising for every two new Ordinary Shares subscribed (the "Fundraising Warrants"). Accordingly, 3,200,000,000 Fundraising Warrants will be issued pursuant to the Fundraising."
Someone took 70M at 016 and 15M at 0.156 I've almost got 70M if it stays down here I'll round it up to 100M.
Don't me wrong I'm down £10k+ but willing to invest more at these prices. See what next week brings.
Asset still there, funding sorted onwards and upwards.
CB, MC and LR bought at 0575 so I'm not the only one down plus there was a placing last August at 0775, get anywhere close that and you're in serious profit. Keep looking at the mcap not shares in issue. GLA
Even though the deal isn't a great ideal MC has bought a total of 199,999,999 Million shares and 333,333,000 Million through Energy Mineral of which he is a substantial shareholder which in total equates to approx 5% of the business at a cost of £80,000 plus the other ones so he's put his money where his mouth is for starters.
There are now other II's involved and have clearly been tempted to invest.
This now draws a line under the funding issue, clearly CB wants this to succeed and knows the value of the asset. I believe we will be trading substantially higher in the coming months.
I taken more off the table and am happy to wait.