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years ago we all agreed 4p was rockbottom..
certain large shareholders and II's seem to know things that ordinary holders need to take on trust..a huge dilution and not a very large sum raised after that.You assume they have a Plan..
16 September 2013 AFRICAN EAGLE RESOURCES PLC ("African Eagle" or the "Company") Placing to raise £300,000 (net) African Eagle (AIM: AFE, AltX: AEA) is pleased to announce it has conditionally raised net proceeds of £300,000 through a placing (the "Placing") of 171,428,571 new ordinary shares of 0.1p each in the Company (the "Placing Shares") at a price of 0.175 pence per Placing Share (the "Issue Price") with certain existing shareholders and directors. The Issue Price represents a discount of approximately 41.7 percent to the closing middle market price of 0.3 pence per ordinary share on 13 September 2013, being the last trading day prior to this announcement. The Placing is conditional on admission of the Placing Shares to trading on AIM ("Admission") and the net proceeds of the Placing will be used to fund the general working capital requirements of the Company. The Placing Shares represent approximately 19.7% of the enlarged issued share capital. Placing Shares were subscribed for by certain directors of the Company and persons connected with them, whose disclosable interests are as set out below.
Clearly Coburg taking up the share offering has raised confidence in AFE. It would be very interesting to know what is going on behind the scenes, particularly with regards to Nick Clarke and the progress of the BFS.
they will dump it
You know who you are ....tall man you happy son !?
Coburg up 26%+ http://www.lse.co.uk/ShareTrades.asp?shareprice=CGG&share=coburg_grp
Whilst it is encouraging that Coburg Group are so keen to invest in AFE, it would be interesting to know why. Even at the 41.7% discount they are getting on the share placing, what do they know or think that AFE offers, that makes them prepared to invest this amount? http://www.4-traders.com/COBURG-GROUP-PLC-4002277/news/Coburg-Group-PLC--Further-investment-in-African-Eagle-17271264/
This isn't the current managements fault, it is the slap dash amateurish way in which the previous bod ran this company, Trevor ran this company into the ground. Such a shame!
we have support at .25... i think it is a good point to buy back. GL
KNIGELK i will wait for the 0.17p to buy then ....all the shares is shocker .nothing is safe in my imo ..and all is P&D by the way
Ouch... "pleased" isn't the word most small shareholders would use!!
what are these "burst bubbles" ? I can't tip those you need to keep reading the FT of course..lol..
Hi again m8! I too have recovered positions quite well in gold- and now other things as gold appears to be due a slight holiday though it will never go off the register..yes I did cash in most goldminers helped by OMI yesterday..best article I read was that Eastern investors buy gold on lower prices but Western ones sell then,we should copy that..However -as I said elsewhere- I had a flash of inspiration after reading the FT one day -free in the library lol. They tipped some "burst bubblles" to invest in,Buffett wasn't mentioned but I see now that's the secret of what he does..of course need to avoid choosing bankruptcy candidates...there are ways of doing that-invest in indexes/funds etc. GL
Whilst the Elephant Copper deal sounds good for AFE, given that we are approaching the September 22nd deadline, the point at which we were supposed to have enough capital to operate until, I would imagine there should be an announcement soon.
at least the spread is coming down,it was once 50% now only 12.5%,you won't get serious investors in at 50%.GL
from site-note Vestra has gone below 3%,so this is already out of date Allard 11.32,Coburg 11.31,Anglo Pacific 4.40,Barclays Wealth 4.31,TGW 4.10,Vestra 3.92,Salked 3.70,Intervantage 3.60,HL 3.24 ,Halifax 3.08 I've not been on site for a while,the III's apart from Allard have mostly all changed drastically,once it was MWB and Anglo the top ones.Also the site says African Eagle is an investment company-no longer a miner.GL
I fail to understand what is going on here..up to now the II's have been stable,obvious shananigans here.Guesses might include someone else buying on to the board ?