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Maybe I am completely wrong but I would be very surprised if we don't sail past 6p when the JORC is announced
This poses an interesting question (debate),based on the below could we be at 6p by October?...
- Grade Drilling Results from Pitombeiras at the top end of expectations, and the associated JORC.
- Positive PEA
- Application for a trial mining license (speculation on my side, not currently confirmed by BoD)
- Positive drill results and news from ValOre.
6p = MCAP of £14.5m (10p is only £24m).. does that sound reasonable based on the above being delivered? :-) :-)
+35m shares would only dilute by about 14% which isn't massive and actually would provide some needed liquidity in the share to attract new investors....
Food for thought...
Tex
DD2, thanks for your update and I do hope good fortune awaits you, with the outcome of the EUA asset sale process,
I am not as pessimistic as you are, as the board have noted on a number of occasions, that they are fully funded for this stage of the project development, as in exploration, JORC and PEA and cash at year end, plus the final cash payment from ValOre, would equate to circa £1m, not the £300k you suggest, for reference, it is noted in the recent corporate presentation (June 2020) as c$1.5m.
That said, it is understandable that funding will be needed at some stage further down the project pathway, probably the key question is, what financial instruments will they consider?, the board have demonstrated a reluctance to issue equity at low premiums and that in part may be aligned to their significant shareholding and their understanding of the assets they hold, plus there is the option to liquidate part of our ValOre holding, that as an option I would suggest will become more viable as the Autumn and Winter approach, as the news flow and results from the PB drill campaign will be far more advanced, plus dependent on the output of the JORC and PEA, there will be a greater market understanding of the Pitomberias asset value, which may lead to an improving share price, which in turn, could potentially lead to warrants being exercised,
I would also not dismiss the availability of project based finance models, this was a consideration previously and the £1m loan terms with Celtic Capital, were very sensible, they know the board and asset very well, plus as you say, a JV or even an off take agreement could also be considered and as the ore is near surface, a relatively modest capex plan could be developed, so at this point I think there is a lot more of the story at Jangada and ValOre to unfold, before we reach the stage of finding the right funding answers, to the production stage of the asset,....GL S
Silly me that's 2 mill of course!
So a million potentially.. I don't think you will find many here complaining if exercised when we are at 6p! And then of course we are talking a low capex here - shallow resource - we just need to dig it up. Then some cheap crushing and magnetic separation and ship it out..
RNS Number : 1380C
Jangada Mines PLC
27 September 2018
The Company has completed a placing to raise £1.05 million, before expenses, through the issue of 34,999,996 new Ordinary Shares (the "Placing Shares") at the Placing Price (being £0.03 per Placing Share); and 34,999,996 Warrants (the "Placing Warrants") to the Placees on a 1 for 1 basis, exercisable in whole or in part at 6p until 15 October 2020. The issue of Placing Warrants is conditional on the passing of the Resolutions at the General Meeting.
6p...exactly what I thought. How much will that bring in?
..and then there are the options .. the way the share price is going and with news to come who's to say they won't provide more cash at a higher (is it 6p or 4p?)
Good luck with that dd. With more results due and a JORC, I doubt very much if finance will be raised at these lowly levels but each to their own.
DCAT80 called it right yesterday. MMs need shares, still small volume available to buy ATM and a big spread.
Based on the '2 weeks' in the last results RNS, next week we should see the final 5 drill results from Pitombeiras, which will provide sufficient data to define a JORC and subsequent Preliminary Economic Assessment.
Tex
Nope. 2.8p is my average on Arcm having held for a few years. Huge story over there and another I expect to do very well on, just frustrating to some extend that at this stage people can get in at my average! Still that’s the way things go at times.
A number of new investors here at Jangada hold Arcm. I reached out to some I know as longer term horizon investors from my networking in that share and provided them with my notes. That’s why I’ve been saying with some confidence that a lot of the buying from 1.8p has been going into sticky hands.
I don’t need to tell those here during the quieter period last year that it’s often a matter of doing research, finding quality and holding. SP doesn’t always go as you like and it can be frustrating waiting, but as the old saying goes economics wins out in the end, regardless of how irrational market values something at any given time
Was it you putting some of your ARC gains here Dcat?
Over 2% of freefloat traded buys being circa 62% of transactions. Even after sells MMs were offering nothing to buy, looks like they’re trying to bring price down (insert swear word here).