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CHRISP/TSB1 - wouldn’t be unhappy with that as Liv as the price is right…
But if something thinks they are picking this up based on average share price we are hosed.
I don’t think looking at options is in itself a bad thing… and I get the feeling that the second RNS played up TORAL being the main focus possibly based on the confusion the first RNS created.
In any case, communications have always been far from crystal clear so heavens knows what is going through LR’s mind.
I just hope the main game plan is still his focus.
Exactly, TSB1, to me from the RNS, the Toral is in a place to be sold, farmed out etc and we are raising money for the EUZ office and a new exploration.
wouldnt they have just said the value event is in the bag but we need money to keep going until we can realise it.
To me they have just lost their way. Why would you tell shareholders they are looking at other areas when they havent completed anything or given shareholders any return on investment from toral
The point some people don't get who I have filtered is unless the Toral PFS is not requiring any more funding from EUZ because the grants will cover it the £1.5 is not going to go far if more drilling and testing is required. Most of the money spent over the last six years has been spent on drilling and proving up EUZ not just running the EUZ office. If that has done then we can start looking at other projects because we might have has much as a £million to do that. If that is not the case then the RNS is complete BS.
Good post T
The bit "a list of possibly areas for spending." about sums it up.
Normally i would agree with the idea of a Q&A on Zoom but i honestly dont think they have any answers to the inevitable questions.
I believe the placing was purely to keep them going as the “value event” is still pending signature - or even possibly now pending potential signee…
Everything else on that list was just that: a list of possibly areas for spending.
A bit like saying to your Dad on receipt of pocket money (oh, those were the days) that it was going into your savings for that latest Airfix plastic model aeroplane; whereas you went straight to the sweet shop and squandered it on Liquorice Allsorts. (Analogy, note).
As I said before. We are still here, for which I am Sirius-ly grateful. (God, did I really???….)
Almost Friday.
T
Crisp
" I want like yourself to find out the true point of the placement."
I told you before they burn about £2m a year at present. they ran out of money. Raising money in todays market for companies like this is near impossible especially £1.5m with a valuation of £2.5m. They detailed exactly what the money is for ?.
Chrisp we all want answers to why. Let's not get carried away with theories again though. It just raises false hopes. Agree a Q&A session would be good or we wait for the AGM.
Also on the placing price agree this is a function of having to dilute so much but again it's an example of not managing the company properly and the Board not being aligned to shareholders. Now when we see broker notes with a target price of say 30p, we have to share it among twice as many shareholders, so it's effectively a 15p target...and if you've invested at 5p, 10p, 15p as I suspect a lot of us have, the upside has now been severely dented.
Of course this is a high risk play but when management makes noises that they won't need to raise because they are pursuing alternatives to realise value this feels terribly disingenuous. I simply think this is the final straw and they cant be trusted.
Ok good point Chrisp but it’s yet another example of extremely poor communication. To the outside world it’s come out of nowhere and looks like the company is in a bit of a pickle and as usual throws up more questions than answers. Can’t LR host a Q&A session with shareholders?
Any lawyers here. We are surely bound by Australian government
https://www.mondaq.com/australia/directors-and-officers/1058576/how-to-remove-a-director-from-a-company
I think the placement was strange although the discount was very high and can be explained with needing to raise so much money in comparison to the value of the company and with no warrants attached. Sadly many questions not answered such as why now and why so much.
For me 2 possible reasons; the first EUZ need money to carry work on the PFS which is quite a way off and they lied about a new potential project being sort.
Alternatively, we are quite close to a good PFS but needed a relatively small amount of money now but due to the fixed costs of making a placement went all in and are looking for future exploration land in a view to start another project.
The thing is this is exactly what CB does who used to be in charge.
Shed rather than just blanket moaning I want like yourself to find out the true point of the placement.
I think all the Board should have to take a pay cut in line with the discount the placing was at. They refuse to even invest their own money in the project and it is utterly atrocious management. I’ve had time to reflect on the placing and it’s only made me more angry. They are just not aligned with their loyal shareholders
its beyond believe we are looking for other projects jesus they have been at this one and got nowhere
I think i preferred the ship/SP without a rudder of the last year than the one we have now heading off to unknown foreign shores to mine unknown new commodities. You cant invest in a company with no real goal, or timeframe and with such poor communication of the "need to know" facts. The whole thing is now so vague as to be almost irrelevant to most. Therefore this remains a punt as Crisp and i have said in the past and no way ,while just a punt, can it also be a "grown up company".
Chrisp, Then why do the Proactive interview? All its done is open up bad news to a wider audience and knocked a further 11.5% off todays SP. A simple example of yet another bad decision.
in fact if LR had come out with some really positive news after the RNS which was not included in the RNS then that would have been blatantly wrong.
not surprised with the interview because if there was anything to be said it would have been in the RNS.
My thoughts too Teaye, kinda hoping for an RTO. Rule 15 by next year, problem is once initiated its a further 6 months wait.
One final thought (for the moment...).
What is certain is that there are people making money on all the PI angst.
And they are the ones bidding and asking. :)))
Grappa, not an easy decision, indeed.
The problem with (1) for me is that every time I have done that the SP has jumped back up... :)))
(2) is what I am sitting with... but very wary of (3).
GLA. Let's see where we are in a month.
T
It will Aim Rule 15 before it's a mine unless a buy out happens at Mkt Cap £2.8 and declining daily. So for me three options:
1) Sell now and lose 50%
2) Hold and hope for a good RTO (it does happen)
3) Wait for JV at the risk of an ever decreasing Mkt Cap
Not an easy decision.
I hope that he does not panic-buy another project just to chase that elusive share-price multiplier - that’s how it strikes me, at the moment.
Luckily we all make our own investment decisions!
Now that the placing is done, albeit the shares aren't yet on the market, I wouldn't be surprised to see the SP tick back up, as it was always undervalued. But that's just another humble opinion. Happy to sit this one out. It's happened before. It will happen again. Until we are a mine (or JV'd, etc...).
But good luck, everyone! Sincerely.