George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Pretty poor show all round. Dog muck!
My worry is that the £35mill float capital may be siphoned off over time leaving little residual value
I can only agree MonkFish.
I’m going to sit tight now and hope the management deliver the goods, right now it’s looking like a scam facilitated (unwittingly) by the low bar for acceptable behaviour that AQUIS exchange have set
This looks a bit farcical tbh. Retail investors have been properly rinsed with this one IMO.
PokerChips, it is a bit grimmer than that, as 100million of those 300million were issued at 0.1p
aimofthegame6
BuyToHoldForever is correct and you will find the details in the placing prospectus.... nearly 300 million 1p shares issued in 2020 and April 2021... not all of which will be traded of course
--------------------------
Called Up Share Capital
110,000,000 ordinary shares of £0.001 each have been issued as at 31 December 2020.
The following share issues occurred during the period:
On incorporation, 3 March 2020, 1,000 ordinary shares of £0.001 each were issued at £0.001 per share
for total proceeds of £1.
On the 30 March 2020, 99,999,000 ordinary shares of £0.001 each were issued at £0.001 per share for
total proceeds of £99,999.
On the 6 April 2020, 2,500,000 ordinary shares of £0.001 each were issued at £0.01 per share for total
proceeds of £25,000.
On the 24 September 2020, 7,500,000 ordinary shares of £0.001 each were issued at £0.01 per share
for total proceeds of £75,000.
3) Post Balance Sheet Events
On 6 April 2021, a further 193,000,000 ordinary shares of £0.001 each were issued at £0.01 per share
for total proceeds of £1,930,000.
On admission to trading on the AQSE Growth Market, a further 700,000,000 Ordinary Shares of £0.001
were issued at £0.05 per share for total gross proceeds of £35,000,000.
Enlarged Share Capital 1,003,000,000
Big problem is that they issued 190 million shares at 1p just 10 days before listing at 5p...so there is a.massive overhang of early April investors who can cash out for 100% or 200% gains even if the company trades at cash value.
Just going down and down and down. Raised so much at 5p