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adss has 50/50 with orchid so they have this contract them self that's good. they might have more contracts in constructions in pipeline .
he should have stuck with AFPO... would have been a lot further with his experiment if he did.
Bellissimo: You say you are a medium term investor. In my understanding, medium term usually means 3-5 years (Give or take). You must have a shorter horizon if you think 5 years is a long time. 'JW' gave no timeframe for his £1M quest strategy. I think you applied your own timeframe interpretation and it hasn't worked out as quickly as you hoped. It never does. Remember, this is not AFPO. ADSS is a company trying to morph from one entity into another, takes time. Unfortunately the location at the moment is a dry or muddy car park, they are only at the beginning. Like me you are down but good luck for a better future. Hugh.
So all today's trades could be buys?
That's my buy at 0.3132. A dummy sell shows it as 0.31 to sell so quite a tight spread.....
the Board of Atlas is pleased to announce that it has successfully raised $5million at a price of 0.325 pence per ordinary share.. The proceeds of the Placing will be used to fund initial construction and a full feasibility study for the Company's Chancho Project in Ethiopia, a new state-of-the art glass manufacturing facility 45km north of the capital, Addis Ababa.
very good - I'm in GLA
give or take
pleasing to see, I think this will have some legs in the coming weeks. Just wait and see... =)
tick up coming
in the bank now
* successfully raised $5million at a price of 0.325 pence * The proceeds of the Placing will be used to fund initial construction and a full feasibility study for the Company's Chancho Project in Ethiopia, a new state-of-the art glass manufacturing facility 45km north of the capital, Addis Ababa. * Directors of the Company and a substantial shareholder (US Global Investors Fund) have committed to subscribe for new Ordinary Shares
...increases its stake in the company to over 18% with the purchase of 212mn shares. Now that strikes me as a real confidence booster to anyone thinking of co-investing at this low sp level, no matter that the directors are buying £30k to £100k each.
Yes, except that the Mcap is now nearer £5m when you include the placing shares.
To buy in at the placing price, all time low, new project on the go and $5m in cash, all for an Mcap of...... £1.35m !!! Looks good for a re-rate now ?????
Glad to see some directors putting their money where the mouth is, and the confidence of the IIs. Many PIs probably expected the placing to fail.
Further to the announcement yesterday, the Board of Atlas is pleased to announce that it has successfully raised $5million before expenses by way of an issue of 1,064,307,692 new ordinary shares of no par value in the Company ("Ordinary Shares") at a price of 0.325 pence per ordinary share (the "Placing").
Indeed. Eas mistae with decimal points, even alliance news couldn't get it right. disappointed at the way it has panned out, was sure they would wait until hey had some tangible news on contracts with orchid or potash mines to get the sp up significantly prior to raising cash and so as to minimalise dilution. The bottle plant wasnt why i bought and it still seems a long way off. Will sleep on it to clear my head.
Check your post @1341Hrs, then check my post @1312Hrs. For once, having 12 toes to count with, got me there first time. By the way what's a calculator? :-) Judging from previous posts, looks like I'm supposed to 'average down' to make anything out of this. This was one share I did not want to do that with, but I'll give it some thought. I'm guessing this is where you're at.
Hugh - the alliance news has been corrected. At least i got something right.. (Correcting the potential number of shares that could be issued to raise the target amount.) LONDON (Alliance News) - Atlas Development & Support Services Ltd Monday said it plans to raise USD5.0 million through a placing to fund its work programme in Ethiopia. The company said it plans to issue the shares at a price of 0.325 pence per share, and based on current exchange rates Atlas will be aiming to raise around GBP3.4 million, suggesting it would need to issue around 1.06 billion shares to achieve its target. To put that into perspective, Atlas Development has just over 433.1 million shares in issue prior to the placing revealed Monday. Atlas Development shares were down 9.2% at 0.295 pence per share on Monday afternoon. The placing is being conducted through a bookbuilding process which has been launched immediately and will close later Monday, it said. "The proceeds of the placing will be used to fund a full feasibility study for the company's Chancho project in Ethiopia, a new state-of-the art glass manufacturing facility 45 kilometres north of the capital, Addis Ababa, as well as initial construction works," said the company. Atlas Development said USD1.5 million of the proceeds will be used to break the ground and construct the ancillary buildings at the project whilst a further USD1.5 million will be used for deposits on long-lead items. The other USD1.0 million has been earmarked for paying engineering consultants and for the feasibility study. Atlas Development said it will hold a general meeting on March 10, where shareholders will vote on whether the company should change its name to Atlas African Industries Ltd. By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance Copyright 2016 Alliance News Limited. All Rights Reserved. Alliance News
That is always the danger, but a different beast entirely. I am cautious but quietly optimistic, I think those that are involved in the placing will be primed and only take part on the understanding that they can make some money fairly quickly. I would not be surprised to see this being ramped on twitter and some reasonable gains from this range. With some cash in the bank, a decent project moving ahead and a JV with orchid I see some decent value here. Note the potash projects in Africa gaining momentum.
...as long as a significant portion of the cash proceeds is not frittered away in salaries, perks and other G&A expenses. Who is keeping watch on that?
As a holder I would be pleased to see funding sorted and even a plan for the spending. It is the main thing holding this back as people knew we were short of funds. I was waiting for this news before adding and now I can see a floor based on the placing price and much uncertainty removed I think the SP might react positively in the coming weeks. Dare I say if we get some decent news this could move up very nicely with a stronger balance sheet.
Apologies your right its only your % stake in the company that falls by 220% after the dilution. If sp stays the same The mcap will be 220% higher than now but no gain to shareholders. Not thinking straight, stressful morning.