The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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I'm waiting for the details of the forthcoming Placing and the level of discount before buying. Looks a decent investment opportunity if the Placing is around 2.5p. We'll soon see.....
Certainly they will be trying to do a placing. But how do you place shares in a company which normally has either zero, one or two proper trades per day?? Broker will be earning their keep!
Looks like Colin is trying to pump up the share price before a placing. We know one is coming after the annual report was released:
"An operating loss is expected in the year subsequent to the date of these accounts and as a result the Company will need to raise funding to provide additional working capital to finance its ongoing activities. The management team has successfully raised funding for exploration projects in the past, but there is no guarantee that adequate funds will be available when needed in the future."
Colin seems excited. Just hope it doesn't turn out like his XTR exploits. But to me reads well and l look forward to the drilling.
As some on here suggested, it seems like relatively little has happened in the last three months - most of the info in today’s RNS is from the quarter before. However, it looks like FQ will kick into gear again during the next period
The FQ quarterly update is is quite overdue now. You would think if rain stopped play for most of the quarter then it would be quite straightforward to say that.
If you look at the copper grades at FQ Sentinel the average is down to .36% in 2022 so i'm sure they wouldn't mind a bit of our zambian open pit at maybe 1% plus to feed their plant.
Take everything he says with a punch of salt
He's gone a bit quiet with GLR, XTR and one or two others but seems confident with AFP and at this price if anything really does break, surely this could be an easy 10 bagger
https://www.youtube.com/watch?v=pqZtL5jVKQE
Check out Colins latest midweek takeaway, episode 54. He is still buzzing, especially over the FQ exploration project. Expect good news from there going forward.
All you do is moan pinocchio, the difference between success and failure of AFP won't be a 6 hour difference on the release of an RNS or spending a lot more money on PR - its about actual progress as evidenced with this RNS and the proximity of starting to get it monetised over the next few quarters which looks very likely now :)
It’s a fair point, pinnochio. I used to be in xtract and he was always putting out RNS updates at random times there as well
Very substantial upgrade of the resource - look at the gold in the inferred resource as well. Who cares what time it came out this is a humdinger. Ready to get on mining it as well.
CB is not averse to regular placings with his companies.....
Doubt we’ll see much reaction to this anyway. They’re good results but this is a very low profile share apparently in need of a placing. In my view it might have been better to get financing resolved first and then wheel out the good news (inc this)
Very sneaky how the company keeps releasing an RNS on a Friday evening before a bank holiday weekend.
Last week it was accounts that showed the company is out of cash and today one that shows a sale of shares by an insider.
Colin isn’t daft though, very rarely he’s diluted himself too much unless no other way. And there’s a fair few of the board with decent percentage - let’s see what transpires ..
I did the same and never wrong to take a profit but with only 72k in the bank at end of December will have to sell some shares in GLR or Sandfire or raise
hopefully a stonking FQ update around the corner which would limit the impact of any raise. If that's looking stellar then raising £1m for company overheads shouldn't be much of a problem.
I completely agree this has great prospects but I feel a fund raise at around 2 p is on the cards and looking at Colins track record we know he likes raising money through dilutions.
I’ve taken some profit at 3.13. It does look to me like a raise is needed in the very short term. That, combined with the inherent possibility that the latest rise goes the same way as the previous two, makes me think there may be cheaper entries ahead. No reflection of the company of which I’m a great fan; just sector dynamics
The Company has the benefit of major mining company shareholders and joint venture partners and/or option partners and is involved in two large exploration projects in Northwest Zambia and Botswana.
AFP is in advanced discussions with several parties that have expressed interest in non-equity based funding of the capital requirements of the Ongombo Project and it is anticipated that shareholders will be further updated with these matters, project advancement and milestones in the near future.
Quotes from the last two RNS s . Looks like a Joint venture on the cards good luck all dyor
A raise was always on the cards given lack of income. They can sell their Sandfire and other shares as a stop gap measure.
Looks like a raise is coming to be honest after looking over the financials. Will increase stake in BZT which has just completed its raise and then jump back in here once funding has completed.