The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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BiB, good to do the calculation right. 0.265p a share is a serious commitment from SC.
Recovery will be supported by two things:
1) FS derived from existing resources and
2) Extended forecasts built on existing resources extensions.
The drills are expensive not like assays. This is why there will be extensions in the future given the success of FS.
This is what BA is trying to convey:
Assay results demonstrate great continuity & width of pegmatite mineralisation leading towards an updated mineral resource at #Bougouni.
raising cash for the plant require good FS and good forecast for the future extensions. we will see what the results will be.
Still a 5 bagger if we get back up to those levels BiB!
On another positive note also, reading through the final report it seems the only member of staff that has options below 0.38 is Steve Zaninovitch so no swimming in cash for our BoD till they manage to properly get this going.
Regarding fundraising before license application, it clearly states in the Final results:
"The Directors have prepared cash flow forecasts for the period ending 30 September 2020. The forecasts include the costs of
progressing the feasibility study at the Bougouni Lithium Project through to the submission of its mining licence application as well
as the overheads of the Group. Further fund raising will be required at an appropriate time in order to continue the development
work and undertake limited additional exploration work, and the Group has historically been successful in raising additional funds in
such circumstances. However, the forecasts demonstrate that following the submission of the mining licence application, by curtailing
further exploration and development activity, the Group has sufficient cash resources available to allow it to continue as a going
concern and meet its liabilities as they fall due for a period of at least twelve months from the date of approval of these financial
statements without the need for a further fund raising. Accordingly, the financial statements have been prepared on a going concern
basis."
So the company CAN survive technically without fund raising but I am pretty sure looking at what was left in the bank 29th Aug (£570k I think?) that a fund raise will be required.
Spinning a positive on an eventual raise - if the company manages to convince IIs to fork out say £500k, that must still show they are able to prove with a degree of confidence that this project will come to fruition
just a smll correction BiB, SC bought the balk at 0.38p then bought less at 0.13p then a tiny amount at 0.08p their average is 0.31p.
I'm not convinced the 5 million and following 1 million trades were sells to be honest looking at the trade prices throughout the day :S
Either way its insane that the share price can be allowed to fall so much based on some trades which in the grand scheme of things is absolute peanuts!
Hopefully (though somehow I very much doubt will be the case) this means when somebody decides to make some chunky buys the sp will shoot up just as fast!
Telprint, I think we’re all in the same boat mate. A lot of us are in here averaging high teens or early twenties. I was in SOLG when it was unloved at 3 to see it rise to 40 where I sold so it so miracles do happen.
One day an RNS will drop and the share price will rise, every time I see an RNS now I think FFS.
Don't listen to Daz!
Don't put it in your bottom draw, as Daz says don't listen to anybody on here!
telprint, I've being fallowing this share since it was 1.20p then 0.8 then drifted to 0.04p and I kept it. then it goes up again. to 0.55p I recovered all my losses and make handsum profit. I believe this cycle is going to be repeated soon. at least 0.3p hang on to your holdings.
sales is very thin, any good news will see this returning to strong figures. if you count all shares sold bellow 0.1 they don't add up to 2-3% counting repeated trades.
As a small investor my holding value has declined so much that the remaining asset is virtually worthless with recent drops so it doesn’t really make much difference on any small recovery.I need a 2 to 300% rise to give me any amount of substance to be honest and just can’t imagine that kind of recovery based on the current projections. Perhaps other hardened AIM investors think differently. AIM has rather tempered my optimism and killed it lol.