Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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24 April 2024
88 Energy Limited
SUCCESSFUL PLACEMENT TO RAISE A$9.9M
Highlights
· Completion of oversubscribed share placement to raise A$9.9 million (before costs) to domestic and international institutional and sophisticated investors at an issue price of A$0.003 per share (£0.0016 per share).
Rns Placing at 0.16p 40% discount .
17/8/23 OO was 0.31p then a year year low.
88 Energy (88E) 1,400 Posts over last 7 days number one chat site .
GCM was second this morning with about 830.
Also 19/4/24.. 9.21am ( all the derampers thread no answer to who owns the site )
Showing 13% up today back to last top up price , 8.7% spread .
Might of dropped to 0,21p on 16th day after.
So did I they are out tonight wonder whats up.
Topped up for 0.25p executing just after 10am.
In ISA 220% tranche size.
375 posts to 10pm today.
Alliance News
IN BRIEF: 88 Energy hails second light oil discovery at Hickory-1
88 Energy Ltd - Alaska-focused oil exploration company - Makes second light oil discovery at Hickory-1 reservoir in Phoenix project, Alaska. Says flow test demonstrates a peak flow rate of 50 barrels of oil per day of light oil. Managing Director Ashley Gilbert says: "Having now successfully demonstrated light oil flow from two reservoirs at Hickory-1 in recent weeks, it is clear that this is a significant milestone in the history of 88 Energy. The USFS success represents the first time that we have successfully flowed oil to surface in Alaska - and under natural flow - as well as being the first time we have confirmed a light oil discovery of substantial scale in close proximity to the critical Dalton Highway and Trans-Alaskan pipeline system infrastructure. To then achieve a second successful flow of light oil from the SMD-B reservoir, with a low gas/oil ratio, is an outstanding outcome for 88 Energy and its shareholders."
0.0034 is not bad for Monday where there are no news.
Will see how it will FLOW :D Fingers X :)
I am hoping for the best for all the 88E investors, including myself :)) it is a bit unfair when we have a stock, where we paid 1p per share, and now the stock is worth 1/3 of it. I wish all of you to go up to 1p at least.
I think it's about time for the spike and get us EVEN.
Didn't notice the spike xarfax but glad it at least ended level.
I noticed that at least two of our dilutions from last year made the top 20 shareholders list so still supportive of 88E.
I have noticed, there was a spike to 0.008 AUD and then drop to 0.007 AUD in ASX :) so there is a possitive response from Australian Stock Ex.
We may start from 0.0036 today :)
0.35p by the end of week , back to top of the spike on 21st February 2024 .
Might bounce about at this level for a wile .
500 posts here yesterday.
Down 11% today to 34.5p top of the previous spike on 15th March 2024.
The AIM casino.
Spreads out to 6 % MM and brokers not among the losers.
12.30pm the high at 41p
At close 0.37p up 45% , 3% spread.
RNS today up 23% spread 6.5% to 0.32p.
Lots of chat here.
End of November 2023 post placing low at 0.23p stayed there until mid February , before a spike to 0.35p 21st 2024 February
No harm not buying the placings on AIM.
Same price as 8th below .
Spread still 33%
Well maybe that's because Bidens announcement does not effect 88E's location... Love the FUD tho ;-)
US President Joe Biden's administration on Wednesday announced it is banning new oil and gas drilling over a vast region of Alaska.
The prohibition covers 10.6 million acres, or 40%, of the National Petroleum Reserve in Alaska, an ecologically important region for grizzly and polar bears, caribou and hundreds of thousands of migratory birds.
88 Energy made no mention of the US decision in its results announcement.
Looking like the rights take up and the full excess for 0.31p will be one of my better ideas this year.
The ask price is 0.4 but showing a 33% spread on this site. ( the bid 0.3p down 6.5% today )
Not many shareholders bought their alloted allocation. If this cash raise fails the sp will collapse and 88e could cease to exist? Maybe money for one drill, and if it fails, it's the end. Let's hope the oil gushes.
Have bought in @ 0.31p.
Let's see this rise now!
Looks like the shares not taken up offered in a placing to include non shareholders.
Credit to 88e for giving the chance to shareholders first .
Many AIM company's do not calming expensive way to raise funds .
From RNS this morning .
Proposed placing to raise up to £4.5 million
88 Energy Limited ("88 Energy" or the "Company") (ASX, AIM: 88E) today announces that it proposes to raise up to £4.5 million (before expenses) pursuant to a conditional placing of up to 1,457,716,474 new ordinary shares of no par value in the Company (or, as the case may be, depository interests representing such ordinary shares) (the "Placing Shares") at a price of £0.0031 per Placing Share (the "Placing Price"), (together, the "Placing"), which is the price at which shares were issued pursuant to the Rights Issue (as defined below).
The Placing follows the closure of the non-renounceable rights issue
Well. Surprised the shares were not bought up in full but I can't be right always. I wonder if I will get the 1000% shortfall shares that I requested?
A few more ppl with my confidence and we will get the funds we so desire. I suspect that the mkt suspension is because there is a big investor waiting in the wings to plough in the rest of the shortfall money anyway. No?
Who was is that said "dilution is only dilution if the share price falls and falls and falls"?
What if it rises and rises and rises? And the lucky ones take up their options? All a bit of a punt but... well... there is a flow test coming....
GS
08:34
Finance future activities and in particular flow test of Hickory-1 next winter.
Not sure how many shares DW has, no longer listed on TOP20 shareholders but why should he be forced to sell in any case?
Morning,
I have these shares parked in my portfolio from way back when. Can someone remind me why there were more shares being issued? Dave Wall the ex CEO needs to be forced to sell off the massive holdings he has. Bad ju-ju! Thanks!
Not many bought the shares on offer, leaving a very large hole in finances.