Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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The AGM is on 11th July, if you can make it to Bermuda!
Items of interest: re-election of BO as a director.
There is also the following, which seems to allow them to issue up to an additional 60% of shares, with agreement.
"Under the Company’s Bye-laws, there is a prohibition on any issue of shares by the Company other
than in accordance with the pre-emption provisions and exemptions set out therein, including the issue
of equity securities to be held under an employee share scheme or employee share option scheme or
an allotment or issue of shares pursuant to the exercise of any share options issued pursuant to a
share option scheme representing up to 10 per cent. of the issued share capital of the Company from
time to time.
The purpose of Resolution 3 is to approve the disapplication of such pre-emption provisions and
thereby provide a standing authority to the Board to issue:
(i) for non-cash consideration, such number of new Common Shares as is equal to 60 per cent. of
the total number of Common Shares in issue from time to time; and
(ii) for cash consideration, such number of new Common Shares as is equal to 60 per cent. of the
total number of Common Shares in issue from time to time,
provided that, unless they are amended by Resolution passed by a three-quarters, 75 per cent. majority
of the members at a General Meeting, such authorities shall expire at the conclusion of the Company’s
next Annual General Meeting.
The Directors believe, in light of the Company not having an income generating business and having
an objective of exploring and developing its Carolina gold projects and other opportunities in the gold
sector, that this Resolution should be approved in order to preserve maximum flexibility for the future."
Don't want to read too much into this but can't help thinking a raise could be on the cards once the cash runs out. It stood at $0.9m as per RNS on 9th June.
The problem with this forum is, it's been hijacked by employees of LEX, spinning a positive message and fill ya boots crap. I really hope to just break even and sell these rubbish shares as soon as the price peaks. Never again will I invest in this type of company.
Hmm. U The BOD iseless? Well OK, this is never going to me Anglo Gold. But what we are seeing now is the potential for LEX to become a Brewer or Mini Haile. It's easy to criticise when stock prices are going down, but they are going down across the board. Also look at what's going on in Crypto today. In the meantime, we have an excellent set of results just come out with assays that pretty much guarantee a new JORC reserve in JK as well as an uprating to the Loflin resource.
Progress maybe slower than we'd like in the real world, but in the real world of today, the assay labs are jammed, Covid and staff shortages, hence the delays, we should have had these results 3 months ago. Now we can move onto the the new resource estimates, and a new drilling program of infill and stepping out at JKL. Remember it's open along strike and at depth at both sides, JK, and L.
Finally, some light at the end of the tunnel... Do I hear onwards and upwards?
Their other vehicle is URA. Broker not the issue here. They saved the RLD vehicle when they led the placing at 0.05p. Bringing BO back was a dumb move, he was useless in his previous stint, did nothing at Mustang and was useless at BZT years back when this management team were all embedded there. BOD are useless, simple as. As mentioned by another poster, the RNSes lack detail that other explorers provide which shows they’re just lifestyle directors with no actual interest in running a business for the benefit of shareholders.
New presentation up. Doesn't go as far as I'd like but its start. We got to keep pushing tho as there's still so much that's not been released. I hope we're due another land package RNS soon where we've grown our JKL acreage.
And despite all this wonderful rosey news, the share price drops further. WTF are we missing? Why is this SP so low?
I find the closer we get to complete results/updated JORC from the current drilling round, the more impatient I get. I'd have thought after all these years I'd be more chilled.
I do remember another poster reporting that LEX didn't want to give too much away, in case it increased the price of any expanded land licences. Maybe that, plus what Rosie said below about the NOMAD might explain the poor level of info for shareholders.
Anyway, keep up the pestering - it seems to be working!
Jeez, I think they might actually be listening...
https://twitter.com/LexGoldLtd/status/1529060792489893893?t=2ec12Khunv6_hEWnb39DJg&s=19
They release the grades for the holes at Loflin South but we don't even get diagrams or any infographics on the holes themselves, an idea of what mineralisation looks visually and extra targets these new holes have potentially unlocked. Why are we needing to enquire about this when it is the bare minimum? Look at other gold explo co's (MILA etc.) - all of them have extra info in their grade releases. Sick and tired of 10% RNSs.
Company needs to get on the offensive, simple as that. They need to expedite JORC for Loflin + South as well as JK once grades are in. Possibly could be close to 200k & well over 100k oz Au. New presentation + Geo. They're not doing their job holding all the info they have back - they're accountable to the shareholders and we're all sick of them sending out the bare minimum.
Seems like a slow death. Kill me now.
What's this other listed vehicle?
Unfortunately I tend to agree with Gloster having held through TZ1 & Richland Resources.
I'm not sure I believe MMs are playing games or short. I just don't think the management has done a good job getting the story out. I really don't. When was the last time we actually saw some concrete targets? We've found a new resource (Loflin South) - anyone know how many other potential targets we're going for? No, I didn't think so. Nothing short of abject failure from the board. Hell I've done so much reading on the historical work by Revolution & Orford mining because the board haven't given me any other option! Presentation now over 18months old. Can you believe that considering all the news we've had since Nov 2020?
A market maker would always try to walk a stock down if they are short!!
Management have no ability to execute. Now they’ve set up another listed vehicle. Specialists in failure.
I agree this share makes no sense. The results of the exploration are excellent yet the SP drops. In what world do the market makers trade a share lower than its value? The MMs are business people and want to profit. The issue has to be something about the firms management, something they don't like, or the MMs have options that a lower share price benifits. Which of course would be fraud.
The largest share holders will be sitting comfortable whatever happens to the SP of that I'm very sure.
Whereas part of my modest pension pot is eroding away month on month here.
Therefore I'm not impressed, but have no option but to hold
Always believe
GOOD LUCK ALL
YNWA
Its funny how we have such short memories. The company raised money from its largest shareholders and if I am not mistaken from company directors as well a very short time ago. The convertible bond converts at a substantial premium to the current share price so ask yourself who knows best, the shareholders and directors or a few Market Makers messing about with the price to suit their own books because they can?
You could dig this gold out with a Poundland spade, and still the SP continues to drop, what's going on ?