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Given what the mining potential is, I did have high hopes for this in the longer term, understanding that it would need and take time while exploring. But after today's treatment, I might well bail out if I ever get near the surface again. If us peasants had been invited to the trough, even if the offer price was not so generous, I might not feel so bitter & twisted. Still, after applying some savlon to my sore rump, and a hefty SP rise, I might feel better.....maybe.
MM, to reiterate Grappa’s well wishes, hope everything OK.
Another board reminded me last week that health is really the only thing that matters…
MM hope your operation was ok and I feel your pain as many LTH here. Wishing you a speedy recovery.
Well had an operation this morning saw the RNS at 4:00pm well learned my lesson no more from me I’m out tomorrow morning at a loss.
LR knew this company was in the **** that’s why he did the accelerated book build and why the placing is so low
Understanding Accelerated Bookbuild
An accelerated bookbuild is often used when a company is in immediate need of financing, in which case debt financing is out of the question. This can be true when a firm is looking to make an offer to acquire another firm. In simplified terms, when a company is unable to obtain additional financing for a short-term project or acquisition due to its high debt obligations, it can use an alternative route of obtaining quick financing from the equity market through a process known as accelerated bookbuild.
Read the rest
https://www.investopedia.com/terms/a/acceleratedbookbuild.asp
Basically let the company run dry couldn’t get any deal over the line.
You do have to ask if you know you need money, why would you place with an SP at 8.5p ? bear in mind that when they planned this a couple of weeks ago the SP was actually at 7.5p so it was at a 12 month low and had been as high as 15p
Bad luck or misfortune ? no just incompetence as LR has a history of appallingly bad value placings.
Everyone expects placings with explorers/miners . The idea is you promote the company and the asset and SP goes up and so placings get smaller dilutions get less as the project progresses.. This is not going to happen if you publicly state you are not interested in the day to day SP !
LR's plan has failed, the SP goes down on good news, so much so that people actually forecast it will go down on the day good news is released. LR should stop making excuses to himself and resign, he is actually the problem here now..
What has happened today is exactly what i said would happen 12 months ago as Bobby Beal. In 10 years of FCR and EUZ i have learned the routine.. If i can see the routine playing out, so can every other serious investor and that is why even now they will hold off until you get new management.
Give it a couple of days and there will be 2-3 guys on here telling us what a great company this is and how its actually a good price to top up :-)
That was exactly my thought this morning when I saw the RNS, the carrot on the stick to guarantee those II’s investing a good outcome. The continued 100,000 buys throughout the day would leave you to believe somebody knows something, maybe being down £12k with an av of 18 is making me grasp at straws.
I concur as you know. Now the decision. Throw a load more of heard-earned into something as dodgy as this is becoming: or stand clear and let crooks alone clean up. Confess I have not decided, typically I go 50/50 but as yet, ummmmm.
milnowrug, it would appear that is what they have done, given there is significant newsflow expected.
Well, phil, let me suggest something further machiavellian. If the BoD is prepared to offer a huge sp discount % to mates, why not boost it further by placing before value event/s rather than after? Illegal insidering? Try to prove it.
It is hard to reach any other conclusion, than LR could have undertaken a placement at multiple times over the last 6 months at much higher prices.Presumably his end game has been to give the company to his mates at giveaway prices. He isn't fit to run the local creche. However, I do believe in karma, so with a bit of luck he will be hit by a bus! utterly morally bankrupt.