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Well done you, Manlord! Keep us all posted on any developments. Personally I resolved myself to losing all of the very small investment I made here long ago...but I do feel for those who were caught up in all this unfortunate intrigue. It is totally unacceptable that the people connected to this company should be allowed to remain silent for so long without any detailed updates being released to the share holders; and bearing in mind that this company undertook another fund raising in the midst of it all makes it doubly unacceptable -- disgraceful behaviour!! Let us all hope that someone somewhere, very soon, in a position of authority starts demanding of them pertinent answers. This is almost beyond belief even for AIM standards... and they in themselves are not particularly high.
Keep us posted.
Mailed Mike tonight.
Conveyed my own personal disappointment and that of others feeling the same.
RNS is needed immediately I agree.
Not much more to say.
Enjoy your weekends
ML
Scampthedog,
No reply so far. Par for the course. I have sent a reminder but may be flogging a dead horse.
Good on you, ponieexpress. I too would like the answers to the questions you have asked of the company advisers. Not sure if you will get a replay...but I would be more than interested to hear of any answers they might provide if you do. My best regards -- cheers!
Dont think many even look at this board anymore and its looks like a dead duck.
I have just sent an Email to Hill Dickinson LLP as Geo Company Solicitors/advisors(105 Jermyn Street. St James, London) via their website asking what they are doing to resolve the permit issue in Georgia and whether Geo actions are Legal/illegal regarding refusal to publish a RNS relating to details/information surrounding the permit issue etc. I have also mentioned that I will be contacting a number of relevant MPs concerning the issue.
I know its not much but perhaps a few more doing similar may help bring this issue to a head.
In to. The CEO. Pocket
" yesterday is not ours to recover, but tomorrow is ours to decide if we win or lose"
It's never the end unless you give up!
Atb
The only thing that really mystifies me here is: why is it that this company has been allowed to remain almost completely silent for so very long without offering any regular communication (detailed updates) to its small private investors? Surely to goodness it most have attracted enough complaints by now for any regulatory authority to have decided enough is enough? I mean -- what the hell is going on!!!??
£5.5 million was raised at 16p just two years ago. Where did that go??
A disgrace. I remember selling these at about 19p a couple of years ago. Bought a few at 1.3p recently with punting money only and accept I will probably lose it....but what has the company done? All the money raised.....folk have stuck fortunes in here. A typical aim rogue stock
If the directors won't speak to you, GermanGrim, perhaps the regulators will? Perhaps they could bring some influence to bear in squeezing some sort of statement from the company? Might be worth a try? Or perhaps the directors have just simply walked away and are preparing to just let this company take its natural course into insolvency? Does look that way to everyone I do have to say. Cannot be long now before the lights have to be switched off for the very last time.
Very quiet here with good reason, has anyone spoke to the clown's who maskerade as members of the board? 100k of my hard earn in this cesspit, 95.34% down, there comes a time to finally admit defeat! Anyone got another answer I'd be very happy to hear it..
No.
Will this permit ever materialise ?
another placing isn't far away.
If they choose to keep this company going? they will need more funds soon just to keep their head above water.
Would be good if positive news on permit came before a placing, but its looking unlikely the longer it goes on IMO
I am surprised this company is still trading...can't have much left in available funds now. I mean -- how long does it envision it might have to further wait for the permit? And how long are the directors going to wait whilst wavering any monies owed them - forever? This have gotten past being ridiculous, past even being farcical -- it is beyond all bl**dy belief!!!!
Ericeric , The day i win the lottery is a lot closer than this lot getting a permit :D :D :D
Good old Eric the wise, found another pile of bullshine .
Based on what? A bunch of ramping posts by one poster? The licence extension was applied for nearly 2 years ago. There is absolutely no reason to think it's "very close to being agreed".
This year's accounts made it clear that the BOD no longer feel they can assign any value to the project in Georgia. That recent update makes it clear to me that a licence extension is definately not close to being agreed!?!?
"The Directors have reviewed the estimated value of each project prepared by management and have concluded that the project in Georgia be impaired to £Nil. The Georgian exploration asset was impaired in full due to the ongoing exploration licence negotiations. The Group applied for an extension to this licence on 10 October 2017 however are still awaiting an outcome. As a result of the uncertainty the Directors have determined its appropriate to impair the asset to £Nil until further notice. "
IG
start of the dump
at least its going in the right direction for a change! news due or something else?
What platform you using Swerves? I can sell plenty for 1.25p
A strangely quiet board considering a 50% rise over the last couple of days, especially on very low volume.
It's simple maths. Fundraising dilutes a share. So if the company has one share worth £100, and they need another £100, they arguably need to release one more share onto the market. If they can get buyers, they can sell this at any price, but market dynamics would suggest they would reasonably price this at the same value as the existing share. However, they may only sell at £80, or indeed £120. In reality, although the company will have more cash after the raise, markets tend to keep similar market caps after, so the share price can fall unless they raise at a premium. In the example, likely to be £50, to maintain the £100 Mcap, or a 50% drop in existing share price.
In either case it can dramatically impact the share price. At lower share values, the company will need to release more stock to get the same amount in funds. This means that they will have to dilute a far higher proportion of the company to get the same return, thus heavily impacting price, thus pushing down the raising value.... vicious cycle. If so, they may not be able to complete a raise, and then would run out of cash, and go bust.
But that's the process, though not fully accurate, gives you a basic overview. Hopefully helps to point out it's not actually the share price that important, it's the amount needed to raise in relation to floated shares and price combined.
Others may have a more accurate view.
all the pumping today think what coming next ......