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For me I think it is a good time, here is why. Dave is actually looking aftr the long term holders and not the traders. All the newby's now jumping into this share in order to ride it up to spud date for a quick profit at spud time, they have no loyalty for the company. They have no knowledge of the history or future of it. Dave knows this so why not use them to buy the shares in order for them to take the overhang of shares after this raise. He will not have any loyalty for these traders and why should he. This overhang will have gone well before spud date we long termers will have benefited with this extra security and funds. The traders will also have gone therefore raising now has been well thought through by dave. It is mainly these traders who are moaning on LSE and ASX, because it affects their plans. I say I am glad. Now let the herd arrive and clear the overhang. gla
All good mate, just keeping money in the bank so he can keep collecting his huge pay and performance bonuses at your expence....
Lots of LTH bailed yesterday.....
Enough is enough with the CR...IF it must be done, do it after we have proven up what we have, how long will the 3 million last if this fails? What could you imagine the share price will be?
Might as well go for it imo and stop this BS...
I see it differently Sheps 85. Why not raise earlier when we were at 1.45, therefore giving more time for a bounce back in the run up to spud, or wait another couple of weeks longer as we appeared to have started climbing again and the “ traders” or “Herd” would start appearing pushing the price up to 1.5p plus.
“ Lots of LTH bailed yesterday”. Really how did you get this info?
About 65m sold yesterday by nervous investors who fell for the gloom merchant chatter. A similar number of shares were taken up by confident investors who were able to increase their holdings. That's life.
Hu11 if DW could fine tune it to a tenth of a penny I am sure he would have done, afraid I am with Sheps85 on this, not many business days until spud when it could swing either way until results are known and then it could be too late.
Had DW struck earlier there would have been complaints in any case :-)
We needed cash in bank to secure operations after drill.
What happens when no money, nothing much positive.
10:33 ~65M sold and ~65M bought so that 1% of all shares actually changed hands, hardly a cataract of investors :-)
I hear what your saying Brom and it’s not so much the price but the timing, do it earlier and regain momentum or do it later when said momentum is running. I just feel it has stopped the rise in its tracks at a time where we had started to rise again after drifting back to sub 1.3p. Anyway it’s done now so hopefully onwards and upwards.
Is it done yet? I read it as an intention to raise. It's not happened yet.
ASX shares come off halt opening time tomorrow - I assume that will mean an announcement on the CR tomorrow before market opens (tonight UK time).
Would current UK shareholders get offered shares at 1.1p as well as Oz ?
What would be better now - that they raise monies or they dont come to an agreement???
money
i think hat the CR is not per se an offer
it is being done in OZ by hartleys
if UK holders were involved dave has a broker in scotland
it is cenkos so the shares issued would be for the UK register
this appears not to be the case
the trading halt ( oz ) is scheduled to end this friday
so expect an ANN later this evening on the ASX
cat
This modest cash raise is via ASX. It's not an offer to shareholders. Let's wait and see what the need is tonight. Was it fully taken up? I suspect it was.
Thanks for replies. GL all LTH ... not long now!
Are you serious?
Quarterly was out before trading on 20.1, sp remained at 1.375 approx for next two days. CR was announced on LSE before trading on 22.1, sp opened below 1.2. What was in the quarterly that took 48 hours to digest?
The wording of the RNS.... do they have to make an announcement about the cash raise before ASX reopens - yay or nay - or might it be confirmed after this date?
You will get the info tonight Bdogg!
What statements Milo, do tell.
It would be reasonable to assume we will either receive information re the cash raise before trading is due to resume on ASX or there will be a notice extending the halt. What won't happen is resumption of trading with no ANN detailing what has transpired.
~ " What won't happen is resumption of trading with no ANN detailing what has transpired. " ~
What should have happened ~
A clear unequivocal statement from the Company explaining the precise reason for the raise , who is involved , and how cash and share issue would affect shareholders .
If the headroom was available I see no reason why any potential investor could not have been accommodated at a price relative to the recent market averages .
~~~ But ~ that`s just my opinion and i have to recognise that we exist in an imperfect world of self interest .
I look forward to reading the detailed explanation .
(Probably tonight , as this `done deal ` looks very much as if it`s Done !)
2 p + before spud . imo.
GL ~ Especially All LTH .
Post of the day V111!
It looks like the market has already absorbed any CR fall-out @ 1.2p. Once tonight is out of the way, we can look forward to the SP accelerating Northwards for the next three weeks.
GLTA genuine holders.
15:37 whether you call it a shares purchase plan (2015) or a Rights Issue (2018) both have just caused much fuss and angst as well as dropping the SP for a relatively prolonged period , what ever shareholders think they might gain did not actually come to fruition. Would I want one again - certainly not now.
14:50 AIM4 I see you as a careful and knowledgeable poster, but I read that ASX compliance note differently.
"The securities of 88 Energy Limited (‘88E’) will be placed in trading halt at the request of 88E, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Friday, 24 January 2020 or when the announcement is released to the market."
Does that not mean there is potential for trading to reopen prior release of an ANN.
Sure this is pure hypothetical stuff :-)
Brom, more from previous observation than anything else these trading halts seem to be for a maximum of 48 hours, ending earlier if the company releases information. The rules that require a trading halt in the first place would be pointless if the share started trading again without any update, it's now price sensitive if the CR goes ahead and as it has been mooted, price sensitive if it doesn't.
That leaves, release information before the halt expires or announce halt continues (if I've understood your point correctly)