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Share consolidation? What a suprise.
Enables them to rinse and repeat...
Fast approaching 12-months in post, and all Bowie has achieved is to line his own pockets.
And this is all you need to know .
"The Directors consider that a consolidation of the Existing Shares provides greater flexibility for the Company when issuing new equity..."
Absolutely gutted as we are paying heavily for these useless cxxxs that obviously are unable to do the job they're overpaid to do..Pocko you and Lbjj have made all these predictions and sadly all coming to fruition, I curse the day I invested in these bastaxxs.
Bigger consolidation than I thought. Dividing the share float by 50 gives us just over 38 Million shares in issue. That will be back to 100 million by the summer once we have raised the required funds.
Will be nice to have a small number of shares in issue again tightly held but not for the best of reasons.
Is it 50?. Original shares were penny shares.
I think ist 5:1
Please someone corrwct me if wrong
Says here wots.
The Directors are of the view that it would benefit the Company and Shareholders to reduce the number of Existing Shares in issue with a resulting adjustment in the market price of such shares, by consolidating the Existing Shares on the basis of 1 New Share of £0.05 (5 pence) for every 50 Existing Shares of £0.001 (0.1 of a penny) each.
Refers to existing shares in issue so all of them.
And will the new shares hold their value? History tells us not.
A miner that didn't mine, and a finance guy that only creates value for himself and his cronies.
Who pays the fees for all this?
Drip drip...
Possibly not pocko, it's high risk after all. They either pull it off and we get 2 great PFS results and EIAs permits applied for to make strategic partners sit up take note as we edge closer to a permitted deposit with market leading material or everything takes forever again and we gradually get diluted into oblivion once again...
And any potential for marginal gains from the court hearing have now completely disappeared.
No news on the horizon that will drive the SP, an anonymous CEO, Project Director and Chairman.
I guarantee that it will get diluted into oblivion again. It's rinse an repeat.
Can anyone tell me what Bowie has achieved to date?
Thanks SJ.... Hangover 😂😂
Unfortunately not, by the end of the year we will see what and if he can achieve the objectives set out without killing us off.
I'd be very happy if we get EIA completed, permit applied for and 2x PFS delivered before Xmas.
That would represent fundamental progress..
And how is it to be paid for?
The last fundraise didn't receive the necessary support, why would the next be any different?
I've no objection to easing capital, it's our source of funds. But I do object to paying exorbitant finance fees and lavish salaries to this bunch of spunk monkey's.
Exactly, the last fundraise wasn't pretty.. history tells us it likely won't be again so let's see if they can come up with something without killing us off again.. it's most likely going to be an equity raise again hence the share consolidation being done by mid June. Fundraise around July/August?
However, what keeps me here is the projects and they are progressing with them and funding necessary work which will shift the company to the next stage. We are advancing importantly. It's about time after stalling for a decade waiting for a decision.
Investors are told that projects are being advancing, but wheres the evidence?
It's not like they haven't stretched the truth in previous RNS is it?
I see no evidence of advancement.
The evidence comes with the delivery of EIA, PFS and application of the enviro permit. The BOD have told us the work is all ongoing. You either believe that or don't.
The sahreprice reflects the lack of progress.
The first five months of the year have been laid to waste by the announcement of the fundraise at the beginning of the year, and the uncertainly that causes. The result? A stagnant SP.
Any guesses what this latest announcement will result in? A stagnant SP.
The market doesn't believe it, evidenced by the share price and general lack of trades.
The work for the PFS and EIA for both projects have been ongoing throughout the financing. How is there a lack of progress?
If the PFS's don't turn up this year along with EIA etc then clearly there has been a lack of progress and work undertaken until that point we have to take the RNS at face value that work is ongoing.
That's my current understanding of it Sj, we believe it or we don't and with the new chap having just started work we have ever reason to believe it.
The SP is distressed, and the last fundraise not fully achieved. I'd say that's evidence enough that the market doesn't believe.
Every single RNS is vague and contradictory to the last.
And having been in post since last August, I'd say that's plenty of time for an employee to have knuckled down and got on with it.
And don't just focus on the initial consolidation... Think it through. More dilution to private investors, who get caught in a never ending spiral of having to buy more shares just to stand still. Think about that.
Fully get that. It's not great but this is AIM and a small cap tiddler wanting to do big things.
It's a gamble, win or lose. You either buy in to the progress that is being made as it makes its journey towards production or don't. At least it has good projects that it can put further along development rather than 99% of small caps with no quality and no prospects of producing anything. BEM still has that same goal with the same projects it's had for years. IF we can start making the meaningful progress this year as stated then fully expect the market cap to be higher than it is now and the market to start believing again. As you have quite rightly said at the moment the market hasn't bought in.
By the new chap I meant Dymtro not Ed...and I'm not arguing it's been disappointingly slow but imo that's down to the uncertainty of the Appeal pending which has taken far too long.