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Exactly @WACO
They lost over £5M financially 2022,
Admin costs £1.1M
Net Assets £680k
They have too many directors here,and not enough cash.
All they now have are the Morrocon licences.
Not for me I'm afraid They will need an equity raise
Good luck though but can now see why Mr Cropper sold his large holding .
They took 2m at 1.25 in placing
Directors paid 3.75p for 10M in January.
Are they buying at 1.2p?
Or are we in a closed period.
I know as the same set up occured at WSG some time ago.
Don't forget, 8m came from treasury so non dilutive. So if you go through it, looks like roughly half new share placing sold, half retained.
Would their percentage not just drop upon the new shares being released?
Placees can sometimes use spreadex to take part - tax efficient way.
I'm sure its related to that and the post placement churn - and yes, Cantor is not a principal.
That be nice
Yes agree.
Suspect there's very little stock now available.
Do correct me, but I thought market makers came under a TR2 code?
Maybe they both took on croppers stock, (or just placing stock) and filtered it in to market
Strange spreadex action TR1 too, multiple tr1 there again.7.6 -8.6% to 5.1% to 4.1%
Thankyou for your comments
Cantor are a Market Maker !
They have to declare above 3% and below,that's all
Wonder why they are reducing ?
As price has been in downward trend, therefore selling possibly at a loss.
Seems they acquired 7.6% on 20/3 and have been selling, multiple TR1s in that RNS 7% - 5% - just over 3%, 2.6m left as of yesterday
Thanks Jim.
Only 70M shares in issue.
Interesting
Not really on many's radar. [and a few have since disappeared!]
The dramatic dump by whoever followed by a placing is more memorable than the director 10% buy at 3.75, the encouraging results and the Global trading deal creating free cash flow for a junior minor.
Just takes a bit of time
Yep, 1.7 was where I started buying, the drop from 2.6p seemed well overdone back then.
Agree - quite a few jumped in around 1.7 and now jumped out - without realising you may need a bit of patience; that said it has given a great price to accumulate - I've got around 1.5% and will leave them from a few years
Why is the Mcap so low?
A good trade elsewhere has lead to me owning 100k more here that I didn’t really want, but when cash is sat in account and these are so low it’s almost rude not to, but that really is my max here now, please don’t tempt me more.
market pricing this is simply wrong.
Beats me too 🤷♂️
Ah well,opportunity knocks at this SP imo .
Have a fair few already so will add more as funds become available/ fall from the money-tree 🤔
Why? A major global co approached the company. When the biggest threat to juniors being cash - its an excellent move - juniors usually don't have a revenue stream-if you can't see that, your last word more suited to your good self. GL.