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He is like a dog with a bone and got the gold at $2400 per ounze and rising
RNS 15th February 2022
Clear Capital did a strategic placement here at 1.12p
I'm sure with all their due diligence etc they still got it massively wrong here.
I will be honest Legal, so many placings in so many companies strike me as beyond brave at times, but I'm pretty sure there is a lot more to these things than meets the eye. What those things are I don't know, but you see literally hundreds upon hundreds of poor placings/placees deals over the years whereby they on paper never recoup what they put in, yet, daily, more goes into companies in the same manner.
I'm sure a lot is a mix of reasons, including stuff such as also owning the companies who do the placings and take percents fees, through to offsetting and money moving, through to poor advice being taken.
End of the day there is placees here who will have ticked all of JCs boxes in terms of informed etc, yet will be 80% plus down.
JCs last box though is the biggy. "Timely". That can't be known until they eventually sell. Until you have the whole in and out transcation on paper as a stat. Until then, its only using todays price as the judge, although that said, im sure they would rather have not taken placing deals when the SP was many times higher.
Brave - maybe
Confident - undoubtedly
Informed - wouldn't you be?
Timely - lets see
Understood Zan - those are brave placees giving the funds over before everything else is sorted out!
Zan, I 8 bagged plus in HE1 after a horrendous discounted placing and following sell off.
Position size is the key, I took a hit here after OCIM and decided to leave an amount I'm comfortable to hold here. If the company does well I can increase if not and I fancy my chances after a big sell off I could also increase.
Keep all options on the table but going in big early is a recipe for wipe out as many are finding out here.
Bebeto, a sell off is always a bad thing no matter what or who you believe in, imo, unless your not in. Then and only then are sell offs handy.
Hi Legal,
I believe the money is issued, then, the shares are introduced to the market down the road once the conditions are met, which is the same as most of the raises over the last 18 months here I think.
"Id be suprised tbh bebeto, simply as 700k plus went into the books a month ago."
The placing was announced a month ago, but was it not all conditional on the prospectus and then being able to issue the shares to the placees? Which they can't do until the FCA approves?
A sell off wouldn't be a bad thing if you believe in RM lol
Waiting game now we're in the same boat currently.
I should correct. I meant unsuspended, not re-listed, but I'm sure most understand what I mean't/my point
If, and its a big if, they manage to get re-listed anytime soon, you would hope it also comes with some decent news attached as otherwise I could picture a big sell off on re-listing.
This extract is from a RNS released today in another company, spot the difference with the GCAT RNS and you're deliberately left to make you're own interpretation of the timeline.
The net proceeds of the Subscription will provide the Company with working capital to support the strategy to progress... through the next 16 months on the Company's current cost basis.
GCAT RNS
The funds will be used for working capital by the Company and its subsidiaries.
I don't rule anything out with small caps.
Everything contained within a RNS is always open to interpretation. The latest raise was for working capital for the company and it's subsidiaries.
Working capital funding refers to the financial resources a company uses to cover its day-to-day operational expenses and short-term liabilities. It's essential for sustaining regular business activities, such as purchasing inventory, paying salaries, and covering utility bills.
Id be suprised tbh bebeto, simply as 700k plus went into the books a month ago.
Thats about the only reason which would suprise me though. If it wasnt for that then id not be suprised at all as all the waxed lyrical hype robbie did one day before suspension, given the mad amount of time thats passed since, with barely any comms, going under wouldnt have been that absurd a thought.
Either way, time will provide us with the outcome even if the company cant as they dont have an unlimited amount of it to file the accounts.
Thanks for that Bebeto.
My GCAT holding in Jarvis account it didn't say thst beforehand but if it's still showing on other people's accounts thats fine by me.
Please excuse my ignorance Bebeto, but what does this refer to?
Not on mine no. Doesnt help you either way though as not showing on mine doesnt prove much
Anyone else have this?
Expect to see a period of zero production and any production shown will be very small.
Audit should be reasonably OK, it's the unaudited results that will show how insolvent the company is.
Interesting points. The gallows were last used in England in 1964 so not that long ago all things considered! On a more serious note, I would think they will have to RNS soon. What could possibly be the problem with the audit?
We're not privvy to the negotiations between the Company and the FCA, so everything is conjecture.
But the reason I say June is two-fold,
After June the Company will need to do another audit and secondly by my estimations, the latest working capital raise might not cover beyond June.
My understanding of the main market is they have until June, the FCA has the authority to remove a company anytime after 6 months suspension.