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Good posts Manlord.... Monty, I had never heard of EEE in the Georgia days but the issue there were all 'geopolitical/jurisdictional' or dare I say 'Russian'.
If we had a load of Russian investment.... then I'd be concerned.
Things are looking better here than they have for the last year!
I bought in to VLS then there was a placing at 8p that was bought up by major investors but even though they say fair price is 35p it is still to get back to 8p after the placing drop!! This is holding very well after the news yesterday as there is a lot of confidence in this stock out there at the moment and great expectations
Correct Monty but the reasons for these previous failing are clear to all.
That company and its focus have completely changed and for the better seeing as we have no governmental / JV issues nor are we mining in a tricky jurisdiction, in fact we're mining in the best place possible.
No doubt about those failings but this is a different animal now and having been let down over and over whilst not selling a single share (in fact I've been building and building) I'm certainly not going anywhere anytime soon now that we have a strong focus on developing shareholder value in a place that could be very lucrative for the business.
GL
ML
Agreed Rupple, I too was very concerned at the start of this change period but Shaun is doing exactly what I had hoped he would although I will say I have been very impressed with his level of honesty and integrity.....................Let me explain why! The placing is not one to keep the lights on like so many AIM companies and is going to be used purely to drive short-term wins and ensure the momentum created will continue and be sustainable. It was also completed prior to an investor day which is different to most AIM companies who drive the SP north by generating activity and then BANG - placing to keep the lights on is RNS'd. Shaun, Neil have done this the correct way and should be given credit for that in my opinion. Shaun also doesn't hype anything and whilst the investor in me would love the share to be hyped to some extent, deep down I know this is the best way to ensure a positive long-term position as opposed to a short-term bump up followed by a smack in the face let down. He just gets on with it and seems confident, yet rational about what he needs to do. Long may that continue.
I remember taking part in a Shard Capital placing in BMN at 3p, fell to 1p and then went to 50p so I take no notice of the market interpretations as most on AIM are short term based but if you just keep the fundamentals in focus and filter the BS then you can see that what they have managed to do here is very exciting for anyone involved.
As a side note I spoke to Mike on Tuesday and he's keeping well. Is still involved with the board and works closely with them but has no major day to day involvement with Empire as he is in his new role and things seem to be going well enough. He also seems to be looking forward seeing what the next phase for Empire holds given he is confident the company has a much brighter future ahead. As he pointed out, these things (the new Aussie gold focus) often take a long time to turn around but things are certainly looking good now.
Enjoy the bank holiday all - See you Tuesday.
ML
Been here a long time, and see many placings... none have worked out particularly well.
Georgian Mining Corporation ('GEO' or the 'Company') is pleased to announce that it has raised US$7 million (£5,463,942) by way of a significantly oversubscribed placing and subscription of 34,149,638 new ordinary shares of no par value in the capital of the Company ('the Placing Shares'), with new and existing shareholders in the Company, at a price of 16 pence per Placing Share ('the Placing').
*Shaun sorry excitement typo :o)
When Mike Struthers started taking a back seat I was a bit worried along with other investors. But I think Sean Bunn is proving himself to be the man who can!!
Been super busy... agree manlord. Placing price surprisingly good given recent SP.
Gindalbie hits significant. New play here for a decent Eclipse resource plus huge new exploration projects.
Game is on and recent traders out I suspect ;-)
Tbh, I think today could have gone a lot worse. There is obviously a lot of confidence going forward and I’ll load up more if it dips again tomorrow IF THAT IS
Plenty of people here Art & for years!
Are you looking to invest LT or looking to flip at 3p making 50%?
A sensible SP or placing price can only be determined after the fact. If BoD do what they are planning & execute these objectives in quick time then any buy under 3p would be seen as a fantastic entry point.
Time will tell & the less muppets we have posting here the better - trust me :-)
ML
My thinking…..
Placing not entirely unexpected as they now have 5 assets to timely progress, which takes funds. Thought it might have happened sometime subsequent to the webinar presentation next week at a bit higher price…….I guess the BOD didn’t want to be accused of ramping the Company at the webinar to then subsequently announce the placing, so it’s fair play to Shaun and it shows his good integrity. Trust of the management is important.
I liked that Management are taking a decent chunk of the placing shares which shows they are well aligned to existing shareholders.
Also liked that there are no warrants directly linked to the placing shares (just a few broker warrants for the fees payment set at 3p) and so this should limit extent of any selling overhang from placing shares flipping.
Still will have a pretty tight share structure in place at sub 500 million shares and so I will look forward to the webinar and further news as the 2022 exploration season progresses.
Apologies not needed. You just bought in, then had some doubts about that decision and were looking for reassurance, just to find an empty echo chamber ;-)
There has been a long general downtrend since Jan 2021 it only recently turned at end of March. You could not really have timed it too much better. Lot of potential upward movement from here an lots of good results to come ( I hope! )
Yes, I apologise, as on looking there have not been very many post at all over the last few weeks. In fact there have been less than 200 since the announcement on 30th March that started the rise, which is not many as a heavily ramped board on this website can have that many posts in a few hours. The share price has though been very strong and I just assumed that was in part being fuelled by lots of positive posts. It looks like it was just solid buying so let's hope that continues.
IMHO from a chart perspective its still (just) on uptrend, sneaked slightly below upward trend line today on daily chart ( hits my trend line at 2.12 so could stabilise around there ) though still a bit above it on weekly chart. Been quite some rise over last few weeks, so bit of pullback was due at some point. There is also support line at 1.92 ish I 'think' it will not drop further than that.
If your in long term then you have a good price anyway. If it does go lower you can always average down. Lots of shares completely tank on news of placings - it has not really done that today
As for it being quiet, I quite like that. Board is not flooded with derampers and trash talkers ( yet ) think it's still quite under the radar at the moment
good luck ;-)
With no posts or posters here except me - and I am a complete newbie - then it appears that this share must have been ramped by a few posters for the best part of the last month. Not having held here before, and having missed buying in at 1p before the high grade gold drill results, I was quietly waiting around for the SP to drop back to a sensible level to get involved. My target was about the 1.5p mark.
However, as a result of today's placing, I have now bought at 2p. I hope that this is not going to be a rash move in a few weeks time when with no news the SP will start to drift.
Let's hope the management up their game to match their confidence in this placing price, otherwise I shall be moaning like all of the posters here who are still holding from the Georgian Mining days.
It would help if there were a few more posts here - apart from the rather benign complaints about there being a placing at all and the dilution.
1.95p to buy now!
ATB
Did I read this right? Was the placing at 2p? I can buy at 1.955p now and sells are at 1.877p. Silly management.
As I said, the placing price is a little strong for the market and newsflow here. The placing price should in theory draw a line under which the share price shouldn't fall but that looks like it is going to be difficult here. In fact as I type this the buy price is already below the placing price. Shame. Show over confidence by the management. They should know better.
To be expected when they announced an investor presentation, unfortunately. Onwards and upwards. Really hoping for a very aggressive drilling program starting in May.
If anything this placing is at a higher price than expected. I was hoping that the SP would drop back to around the 1.5p/1.6p region and a placing at that sort of price would have been quite acceptable.
Now with this placing at 2p the directors will have to work hard to keep the SP above this price starting with the presentation next Wednesday. Then the drill plans that were due for Q3 and Q4 will need to be brought forward fast. With no news it is going to be tight to stay above 2p.
AJMO
Not much selling this morning only very small investors. Company is now funded to explore further best to hold for the decent gains. May take around 5yrs to get to become a producer, or could be taken over before then a lot of profit and placings along the way if this is going to be big.
No. I traded best I could and got out with a 85% profit. Might return if I do well elsewhere
Are you sticking with your 3.6p target nookie?
Typical AIM SOP, announce director options, tickle the sp just below while negotiating a placing at a 20% discount. Out out:(
Agreed ART, we were below the placing price last week.
Now fully funded for the year, all good in my book.
28 April 2022
Empire Metals Limited ('Empire' or the 'Company')
Placing to Raise £1.7M to Accelerate Exploration at the Company's Eclipse and Gindalbie Projects
Empire Metals Limited is pleased to announce that it has raised £1.7 million before expenses by way of an oversubscribed placing of 85,000,000 new ordinary shares of no par value in the capital of the Company (the 'Placing Shares'), with new and existing shareholders in the Company, at a price of 2 pence per Placing Share (the 'Placing').
https://www.investegate.co.uk/empire-metals-ltd--eee-/rns/placing-to-raise--1.7m-to-accelerate-exploration/202204280808546774J/
Not too much discount.