Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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What a fantastic RNS, I see nothing to be worried about. We got the best results in the history of the company, now we have the funds to move forward with proven oil plus other exciting projects.
Oversubscribed placing
Fully funded for all projects
Progression now from explorer to commercialisation and a producer
Possible buy out of 25% to get 100% ownership prior to JV Major sale/farm out production
All projects advanced and securely underpinned for next 12 months
Working capital and administrative expenses funded next 12 months
No further threat of dilution within next 12 months
Money to come this year from commercial production fast tracked now
Company in strongest possible position in their history
A raft of news to come on all projects so entering heavy news rich period
Majority of placing forward sold and churned (I strongly believe)
Short cover needed and exposed
IMHO DYOR
Up she goes! Massive overreaction yesterday!
Sharebel
Now that is another bare faced lie, care to back it up with something other than your discredited opinion
I see the Oz boiler room crew OldDuffer and Scrotum126 have been working their nighshift throughout both uninvested and both showing obsessive behaviour to slate 88E from every angle! Well when the rent is due they got to earn their crust from each post for that Oz shorting fund! Heads up BOD cannot participate in this raise because they are legally excluded from it you clowns! IMHO DYOR
Course they ll be snapped up when it was at 30-40% discount to screw most existing shareholders up *sigh*
If Dave Wall gets in GTFO that guy was an absolute #@$& if anyone is wishing he comes back they are sadly not very well informed.
Either or E.T. It tells me one thing and that’s where this share is heading!
Ravon or they had $5m worth of shares at a average of 1p dump them last week knowing. and now they have $5M at a average of 0.001p
‘Successful’ yes this is what success looks like!
Reading the de-rampers yesterday that must mean that whoever purchased the shares did so to loose their money! Must have been wise investors!
GLA
Only four certainties in live - death, taxes and 88e doing a presentation then a raise after a drill campaign
I note some are speculating whether big Dave Wall might make a return for the Namibia drill
Could be a blessing
They are the best protected of any, they have all of the inside knowledge and experience
Thanks again Older, why does the BOD and management come under this category?
Taxi
Sophs are a useful class of investor that can deliver a lightning fast result, within hours as just seen. 88e are able to capitalize on the immediate situation this way.
In theory SOPHs are able to look after themselves, and need less protection than retail, so can bypass much of the red tape a retail offer requires. Offers to SOPHS are very common in AUS, they often are happy to trade volume at a small margin, say the % between .003 and .004 that most of todays trades of 695m (ATM) have gone through at, as a VWAP of .00395 shows
Thanks Older, I can never understand the nature of sophisticated investors and why they don't just have an open raise.
Taxi
Rest assured the BOD of 88e would have been allowed to participate, they all chose not to
In evidence that this can be done, refer to the PANR capital raise that was similar in nature for the "initial" raise to institutions and others, note the quoted participation by all of the BOD
Do not be confused by the generous follow on offer to allow retail investors to also participate
https://polaris.brighterir.com/public/pantheon_resources/news/rns/story/xelj2yr
"All of our Board, as well as management and key advisers will be participating in the Fundraise as we are all excited about what is planned and the great potential of what we have discovered over the recent years."
Well…that didn’t take long 😎
A successful raise in hours so some must appreciate that the company still have something to offer, and they were getting a bargain. I think that quick a raise should be a positive.
Are you so sure that they were able Scot?
I thought the raise was limited to sophisticated investors so would exclude BOD, staff and public? Can someone clarify just to stop this constant about BOD not participating please.
Not limited to this raise either as I see the Mel final payment will be in shares and the managers of the placement will be paid in shares. Nice to have your own bank print money whenever you need it :(
Gemstar
Have you had an epiphany , raising red flag warnings for 88e holders, a bit late with most of the damage already in play
Better a late conscience, than none at all
From 140p to 10p
Was always a red flag warning to 88e shareholders
......but that's odd.....I can't see any details of directors supporting the fundraise at this all time low price? Huh, no mention of management supporting the fundraise either?
Tells you all you need to know. Pathetic.
Shareholders should be furious.