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Fordfarliane
Well enjoy your drinking in Phuket obviously you are in a fortunate position to side line issue or put your head in the sand and say it’s required . Bringing up dilution which in my mind is another tool of debt without calling it debt ! So can state debt free . I know the debt line is a clear way of knowing debt position of which was never answered as a question from a poster only meaning all other points were answered ? Share price static if not in paralysis .
My opinion
sorry, I don't care if you are LTH, or bought yesterday, all shareholders are the same. I understand you are losing money, but I urge you to look at the bigger picture.
1.1 m pounds is approx 1.35 m USD.
assuming costs of 6% that's 1.269m USD. 6% is about normal from what I understand from brokers I know, when broker costs and lawyers etc are included.
my guess only is almost all of that will go on drilling and setting up production facilities. Remember we have 75%!
so if we have a 50k a month cash surplus that will take 2.5 years to be able to start the drill.
the price will be a quarter of what it is today if the BOD take that route as the market wants activity.
I for one will not accept that, we must move forward.
I also note that you are very concerned about the price.
I suggest you look at what happened last night on wall st. a collapse of some size!
Australia is down today, and the FTSE is down 2%. If the BOD were attempting tomraise today the price would be more like 4 not 8. That is the reality of today.
Bitcoin investors are down some 3 billion recently.
I say thank goodness we have a conservative board that are pushing forward, not sitting back and watching a collapse.
that's it from m me this week, I am golfing and drinking tomorrow in Phuket and will not be thinking about shares.
I am guessing the well and completion costs will be
Oil doubled , gas doubled production nearly doubled ! Yes l would wait but it would not take 2 yrs to pay for it at these commodity prices.
We raised $ 900 before costs if we cannot up production and revenue rather than selling stock short it’s not the business l was told was growth based , these excuses to place always are next time etc never gets there even when everything is going great .
Tired of the excuses show me money which l invested for and l will believe your argument defending the current decisions !
My opinion as a LTH
yes we disagree.
let me ask you this please. How would the cinnabar drill take place if the placing was not done to pay for it?
if your answer is" from operations'
my next question is are you happy to wait two or more years for that drill?
I certainly am NOT.
Fordfarliane
I don’t think there is any doubt who they are and who the brokerage firm is and how big they are !
I buy shares in this company and funding through production is how if well managed there is less dependancy on raises at payday rates , if you believe that is good accountancy for shareholders we have a massive difference of opinion in my opinion !
Placings are a Drag on share price and that effects LTH holders investment , covering a value of placing at 0.08 when we cannot even reach previous placing warrants of 0.25 so where is the value !!
Glad that as a shareholder you are happy with dilution as you also have opinions on consolidation which-in my opinion where are the benefits for people that bought from the start .
DG, as usual you are incorrect.
Monecor are huge supporters of Mosman and deserve credit not ill informed false comments.
where else do you think the funds raised would come from?
Do you even know who they are, which broker they act for?
Do you know that broker is fast becoming one of the biggest and best brokers in LOndon?
Doesn't the existing tr1 include there additional shares and they have been forward selling them over time as any rise good news was sold into... The additional shares have diluted there own shares as well.. So if they only have 225 million left then that sure is a good sign and we can Perhaps move on??
Botham yes all good to get old stock cleared !then comes the next billion of 0.08 placing shares !
Ridiculous price in my opinion
I see Monecor holding reducing as a positive, as there will be no threat of dumping in any potential rise. 63 million sale today is also probably them. hit taken though as we're purchased on April 21 raise at 0.0015.