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A cautious analysis Crocqman. Some of the answers may be revealed very early next week when Angs answers investors questions and a fresh TR1 is issued. don't be surprised a very bullish RNS about geothermal pushing this into double digits. Somehow, my gut feeling is that something really BIG is on the way and imminent.
The placing should strengthen their hand in the Balcombe committee meeting, the councillors won't be able to question Angus's financial means to push ahead with the project.
James, i hope you are right with something chunky in the pipeline to offset the dilution.
as we are pre production at all the sites, there is very little choice but to place at this moment in time.
it was a kick in the SP, which killed the momentum, though it is a good sign that we haven't dropped below the 1p placement price as we have done in the past.
Ocelot is right, it does strengthen one aspect of our Balcombe case...
GLA
JamesII,
I have learnt to be cautious here after such a long time being in the red after Brockham.
Still have my conservative target for SF at around the 2p-2.5p level, but with a lot more optimism now, than this time last year. Anything above that will be a big bonus for me,
I think it was March last year when my mood changed, when the CPR was dropped, sadly the rise was negated by the covid market drop only a short time later.
It took nearly 11 months to get back to the SP level seen then, only for the placing to drop us back again.
Lots of promise this past 12 months, but also a few set-backs, as to be expected, mostly with timelines, and cashflow.
I will be much happier with the firm news on the funding, the intrigue of the 'new' project being out in the open, and a positive Balcombe planning decision, which we should hopefully see news on in the next few weeks.
gla
Jamesthesecond, environmentally friendly energy projects do seem to be a good space to be in at the moment. I hope George's use of the term disruptive is reflected in the new project, they have certainly been working on it for a while.
This is my opinion only, not investment advice.
My only gripe is the ABB was at a heavily discounted price, and marked the end of a decent rise, which we have all be desparate for. The day started with the feeling of elation with my holding having risen substantially of the preceeding week, to a drop 10% above the ABB price after which I averaged down with a substantial investment this morning. The ABB undermined a lot of loyal investors, including Forest, myself and a lot of people on this board.
The fundamental reason for investing remains the same though. If they get the financing in the next couple of weeks, which I believe that they will, then I believe that the shares will smash through 1.5 and personally I'm holding out for a lot more.
Yes, I'm fed up, but it offers an opportunity to buy more, with a decent short term return. I would imagine that the people that invested this week would be sophisticated / in the know investors. ; )
£6.12m of debt facility, maybe a further £8m of committed funding plus nearly £3.5m of new equity (if all the warrants are exercised).
Certainly in terms of financial clout, Angus is shifting up a gear or two.
PS: the figures provide a measure of GL's ambitions for the company
Late-reported 9.6m trade at the mid-price bumping up the day's volume to 31.1m.
Either the market or someone is acquiring large chunks. surely they are expecting big things to happen.
The Placing Warrants are exercisable at any time, for a period of 2 years, from the date of Admission at the following exercise prices: 50% at 1.2p; 25% at 1.35p and 25% at 1.5p.
any chance the sp gains any momentum for any reason the bod will dump more shares onto the market. what is the point in investing in a company that takes the one an only reason investors invest away from its investors. 150 mill shares are a hell of a lot of shares to plow through before the sp regains a neutral viscosity. potentially taking any positive benefits gained from positive news away from the investor. we already know long term investors are not treated very kindly by this bod. i personally want to see proof this as changed before i even consider giving the bod any more of my money.