Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
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Apologies previous post was mistakenly talking about RRR
Numbers for RGM 2012-2019 are:
Total Losses above - £21,333,507
Total raised above - £10,245,634
Total Admin above - £6,560,120
RGM has also previously lowered the nominal share price from 0.1p to 0.01p
Consolidated the shares on a 1-20 basis
Consolidated the shares again on a 1-100 basis
As with RRR I'd consider myself an idiot to buy shares here
DYOR
wilbury - "Sit it out it's the virus that's F'ed it all up ."
The virus has absolutely nothing to do with the dire fortunes here and at RGM imo. I see there are a tiny number of rampers around desperately trying to pull the "Virus Joker" card .
The SP decimations of both companies are entirely the result of a BOD running the company as a lifestyle venture imo. The business model ensures continual SP decline being as it is, founded on endless dilution of shareholders via the issuing of billions of pieces of worthless confetti placing shares whilst the BOD continue to use cash to pay lucrative salaries and utterly ridiculous levels of Admin. That is where most of the money goes. As a result there is seldom any shareholder value to be had. The company has already done 2 capital reorganisations as a result of the SP dropping to catastrophic levels.
The first was to lower the nominal share price from 0.1p to 0.01p. A simple move that allowed the greedy BOD to continue diluting shareholders when the SP had dropped to 0.1p. Had they not lowered the nominal SP, English Law would have prevented them issuing more shares.
The second was a share consolidation on a 1-25 basis (or 1-20 can't remember)
Nothing will ever change here whilst the BOD remain in place. The company was incorporated in 2004 and for 15+ years all it has done is continually issue billions of worthless confetti placing shares, expended untold £millions on Admin and other expenses, gotten it's fingers into numerous prospective pies and left in its wake a long trail of miserably (and embarrassingly) failed ventures.
It is the very definition of an AIM lifestyle venture imo which simply provides money to the BOD at the expense of naïve mug punters.
The charts show the true story and the Annual Reports highlight the disgusting figures
From 2012-2019:
Total Losses incurred - £39,792,939
Total Cash Raised - £16,326,957
Total Spent on Admin - £12,770,280
Utterly preposterous situation. I'd consider myself an absolute idiot to buy shares in such a company
DYOR
Some of us have been waiting for 10 years plus.
Sit it out it's the virus that's F'ed it all up ........just wait and see how things pan out and shove it in the bottom draw for six months.