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Genuine question as I'm looking for reasons not to cut and run (should have remembered this crap from the FCR days).... But is there any upside after today's news?
Db have paid the placing price and played a blinder. They clearly see a weak board with a good asset so that's a positive.
You could argue the last placing was worse and the share price recovered. The same setup this time. Higher priced warrents etc. So if drilling etc goes well then should be a higher price.
Trying to put emotions aside on this one this am!
Yep they were running on fumes and I expected a placing.... but not in the way they've done it.
If they'd raised (with a small discount) at the price prior the db sale then I'd have been OK with it. Basically we've been somewhat turned over with this one.
@Oiltap....
Now that I have taken time out, had a packet of fags, stopped hissing at the cat and calmed down slightly ..this is all starting to fall in place now.
Here’s my reasoning.
Lundin has first right of refusal to buy back in to Toral……
Source: https://www.goldquestcorp.com/index.php/news/archive/170-goldquest-acquires-spanish-lead-zinc-silver-project
Lundin is actively looking for new resources and would prefer copper asset followed by Zinc.
Source: https://www.reuters.com/article/us-yamana-gold-divestiture/canadas-lundin-mining-still-seeking-assets-after-1-billion-mine-purchase-ceo-idUSKCN1RR12N
So….in a few weeks we will have a JORC report that is “indicated” without Copper.
This imo will give the SP a huge boost and LR will hope by then we have all calmed down.
With the finding of Copper at Toral my guess is Lundin have asked EUZ to prove it up a bit more.
However I have no doubt the money from this placing is to continue drilling and to include Copper into the JORC at some point before selling or JVing Toral with Lundin. This is my opinion only and DYOR.
Good Post Bricks.
Well at least I've learnt a lot more about this board and key shareholders. Any large sells in a few months time and we'll spot what they're up too.
I now also understand why DB haven't been so publicly active compared with their other investments with letters to the board etc.... which I expected.... they clearly have a private line.
Right I'm off to see some sunshine and wait for the next news
I don’t mind placing a if they’re done for the right reasons but like most people on here I feel there has been some underhand dealings taking place and like many my investment has decreased by quite a bit. Having said that, I’m still hoping that this will come good. I’m sure I heard LR state that this wasn’t a lifestyle company so let’s hope it’s not.
I was also wondering if the copper has ironically caused us some short term pain here. We know that discovering it at depth was a surprise and they're trying to establish the link to the copper previously found in the shallow drilling. Really need some clarification from the Directors now because everything was pointing towards a swift conclusion to this story.
If this placing, warrants and dilution is indeed for the long term benefit of ALL shareholders, and has been conducted in an entirely transparent, legal and morally correct fashion then the chief executive would not have an issue with saying as much...today.
@Oiltap....did you see this in the RNS.....first time DB mentioned....ever....I wonder if there "sell" a few days ago has broken any rule of AIM ?
The participation of DBA in the Fundraising is therefore deemed to constitute a related party transaction pursuant to Rule 13 of the AIM Rules for Companies.
What about the Rns with nearly 15 day old information ?.
Wish I had more funds but heyho it is AIM !!!!! AFTER ALL....
Yep....and it would have cost them 6 x more in a few weeks time.....thats why LR did'nt wait until after JORC ......
Fingers crossed bricksSA ...be nice see us pi get slice the pie ...
Offering way over the bid now, currently with new shares £5M mcap £200-£400M resource value, keep it in mind all the time.
Once lot pi,s break even will they think sod it bail out? As it seems we get the ****ty end the stick !! Esp getting in this low also ..
Let them go, less irrational people the better.
The SP will be higher definitely.....the problem I have is maintaining my 1% share holding.....with all the dilution taking place.
When there were 5.8 Billion shares I needed 58 million....that was about a year ago.
Now you need 162 million shares to have 1%.
at 1c a share on JSE thats over R1,000, 000 I have had to fork out .......
Can't you set up a broker in the Uk to prevent you having to pay double.
I have hit the ceiling now Gizzard........I am now sticking on 130m shares.
Now I've calmed down and got myself off the celing and started to think properly, this must be the last bit of bad news for shareholders.
Good buying opportunity but not for me, mainly due to a lack of money. Still happy with what I’ve got tho I’m averaging double at the current price. Let’s hope LR isn’t a a snake oils salesman’s.
Yes no more for me, I loaded my ISA at 0.47 and am furious that I could have done this so much cheaper. Still confident of seeing a good return and if the next drills give us further indicated to justify the dilution then we'll ultimately benefit from this news. LR & MC should have made preparations to address PI's this morning, it's scandalous we'll left guessing about the strategy.