Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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By making a placing at 3.3p the company has valued itself company at that price, so that's where it ends up.
It's a case of toughing this out if you're holding - painful day on paper though!
Can now cjm - they’ve since they slightly increased the ask 👍
Bought £5k worth at 3.5p no issues at 08:07hrs
Can’t by any at the moment. Maybe a fault with II but will take a dummy sell.
Can sell a few mill at 3.454! most theyve ever wanted to take. Someone else is mopping them up for incoming news in days / weeks
Top a roonie time today if we dip
3.3 is a 15% discount to 1 month vwap of 3.9 That’s exceptional for a company who have yet to sign a PSC.
Only 7% dilution and hopefully the investors are in for the big prize. Not raising in desperation to keep the lights on. Far from it the raise moves us along the path nearer to glory
They can spin it how they want but a placing at 3.3 is what it is. They had previously said they were well funded and they provide no explanation for this fundraise unless they now believe that they need to convince others of their ability to carry this through. That leads me to believe that their position is not as strong as I had hoped.
Cannot affect the 'dilution' by definition but might help to reduce the negative investor response.
No mention of PSC development.
Out with rns to try and keep the dilution of share price to a minimum.
All explained this RNS -
https://www.londonstockexchange.com/news-article/UPL/historical-block-sk334-data-confirms-prospectivity/15935731
@jack — Hahahaha.. I see your level of comprehension nicely displayed. No offence
Preaches context and does not know what it means..lol
Calls an item lies and does not do enough research first….lol
GLA..
Absolutely follow the money....
My take on the RNS is that it is a huge net positive.
To push forward with SK334, we raised small amounts at 0.25 and 0.6....and then 4 million at 3.3p... and with key institutions, not retail investors.
🔥 A huge week with meetings with Sarawak Premier in UK.
🔥JV and LOI... & now funded to "go it alone" if needed, to retain & return serious value.
🔥 Rig secured.
🔥 Every raise at a higher level than before.
🔥Key Institutions on-board.
https://twitter.com/bigguyad/status/1784155505717346744?t=dKWEjPk5Lbc9Ur9FXZp2pw&s=19
So you just read ‘fully funded’ and ‘well financed’ and ignored the rest of the context in the sentences. You’ll never make5mil if you lack basic comprehension. No offense
I might look daft and sound even dafter but with a PSC pending and coincidentally everyone one who is seemingly involved in the project just happens to be in London for a trade delegation. Yeh right. Where are the pics of meetings with other potential investors. Keep the faith guys. Roll on Monday 👍
I’m expecting an RNS tomorrow.. PSC and volumatics. Sign off in London last week. Close of play raise RNS Friday to get negativity out of the way. Watch this space.
Crucially, our low-cost operating model means we are now fully funded to complete the Joint Technical Study in Sarawak, covering all work commitments into 2024.-saw this .. maybe I am reading it wrong lol..
Also if you are ‘well financed’ is that not synonymous to you not needing anymore financing ..
listen, take your time to read what I wrote before rushing out ..
no further comment on the topic !
GLA.
That’s not true. Where does it say ‘Fully funded’?
‘Well financed to meet its work commitments’ is what was said in January
They just put a deposit down and reserved a drilling rig. You think that was chump change? You think that’s a work commitment or part of the big boy next stage?
Would you have preferred for them to have lost their chosen rig to another company because they are not in a position to pay the deposit until they have the financing PSC partner nailed down?
The story here changed from fully funded to now raising fun. I get it that strategy may have changed but I can’t blame people from venting .. it is allowed.. we investors here want to see the company do well as is in our interest.
Maybe a clarification from the company will put this to bed swiftly. Whatever everyone here is offering as a possible explanation is at best a guess.
So Mr Positive with the pink glasses through which everything looks perfect, also needs to chill!!
GLA.
Oak have raised over £1bln for their clients so perhaps they have been brought in as fundraisers for UPL. So what is the new strategy?
Some on here need to chill, the negative people will do their thing and spout stuff like I bet they don’t even drill. The scenario here is most prob they needed money to get a better slice of the pie.
Ask yourself why are these institutional guys investing 3m plus on nothing, no psc etc etc….myself and others weren’t expecting this that’s for sure….but they have more than enough cash for working capital….so why now the need for this money…..