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You are not alone @ghin
@EV_Bull,
I agree, KM did say the unfortunate situation with HAS was justified by a better investment in Amapa, seems we've left the blackjack table to hit the roulette wheel with more or less all chips on Amapa.
I cannot see why we stretched ourselves for 1% increase in Amapa, that's one answer I'm looking forward to!
Can’t complain: 🙄🙄
I’m only 94% down here! I’m 98% down over on UKOG..!!….Both Lenigas concoctions, if I remember!
Believe me, no rose tinted glasses about this, not wishful thinking, I fully accept the need for the placing is a disaster and a strategic failure.
Management took a gamble that EMH would go up and it went down 50%.
Management need to be clear with shareholders on this as they've essentially bet the company on the EMH share price by taking the loan. They had the opportunity to sell EMH instead of doing the 20p placing previously and clearly with hindsight that would have been the right thing to do. I can see there were financial incentives not to sell which are of concern.
I am not going to sell out at 3p because I believe Amapa can still be sold for somewhere in the region of 25p a share, or more when fully licensed, the Sonora litigation may yet hold substantial value, the Evergreen project may come good and I hope that the new shareholder will push for realisation of value and significant return of capital to shareholders. Maybe this becomes a Sonora litigation play and Amapa is sold with cash is paid out to shareholders.
I don't want us to take the construction risk and end up like HZM so better to sell obviously above the $110m valuation we have been buying in at.
Clearly buying 1% for $1.1m and then selling 8% of Cadence for £500k is a ridiculous situation and I can only assume we were obligated to put the money in to Amapa, management need to explain this also.
Clearly not smart enough, jimb
Check out how many of his companies are breaking even, let alone up!
FYI...NON are up
https://find-and-update.company-information.service.gov.uk/officers/eAjGE-dUweTXKPZ0y059J3TDaAM/appointments
why would you hold? unrecoverable pile of **** this share has become.
unless someone is careless to chuck a lot of money at it and take a big gamble to make a little bit of money from small rises, there is nothing left in this share.
the castle has disintegrated to a pile of sand ....
You seem too smart to be duped @Ghin, when did you sell?
Stop with the wishful thinking. We're being duped.
If you can add 50% to Amapa NPV for 8% dilution (& warrants) then maybe it works out better than selling Amapa now without licensing in place.
LSE admin .... Sort it out it's Monday morning
If the two are the same… it’s possible that the project level equity was conditional on this happening as part of that… i suppose… with it happening on the last day of the tax year ending 2014… may mean that it will have all been off the table today…
The following securities will be withdrawn from trading in the Aquis Stock Exchange Growth Market with effect from market open today, 08 April 2024:Cadence Minerals Plc
Well hopefully the financing we have is enough to take us to a JV or buyout position, let's see what gets reported over this week - by end of this year all should be in place for construction and talks with several parties are ongoing - I'll wait the few days it hopefully takes to see through the reasons for what appears to be an ' out of the blue' cash raise.
perhaps the developments for supply to the US with 67% grade Green Iron has some bearing, I don't believe shipping those samples to China was seen as imminent:
https://youtu.be/5DTCChBU_fA?si=8w40SHobLsogpnv9&t=545
They must have an interested party in place, a possibility a decision on financing is pending the results.
I would like to see an RNS with 'Expedited'
Mr james - you have a good point. If they are going to do such a terrible placing why wouldnt they allow the people who have financed this 4&%t show for over a decade - its a final insult to all of us really...
Financial; Conduct Authority ---- you know that highly effective organisation that keep the financial industry in line --- LoL !
The EMH DFS has been delayed twice now -- it was forecast (for the second time) to be complete end-March, EMH like KDNC now have zero credibility CEO's....
Bannor in what terms are you using the word F C A please
Needing funding is one thing ....but at a near 50% discount!!! ... Why now so urgently, when both EMH & we (apparently!!) are so close to significant news in the coming weeks!!!!! ....but more importantly & to the point is to who which could raise an eyebrow or some questions to answer ...or even warrant pointing out to the FCA
@EV_Bull,
hence the Subject, why was it so important to get the stake in Amapa increased by 1% just now, could they have taken 0.5% and still have the funds to get us through to end of year by which point EMH should have increased (hopefully at least 2X)
Interesting to see why!
I expect the EMH shares are going to be used to pay back the loan and because they have fallen we probably can’t sell any more to fund Amapa so needed the placement.
@mr.james
Cadence has provided a security package to the Investors as part of the Loan Facility. This package includes a floating charge over the Company's investments, placing its holding in European Metals Holdings into escrow
Could it possibly be the fall in the valuation of EMH or they want access to the shares?
Don't we own any Ore that we could sell ??
Could the loan facility have been withdrawn hence we have diluted so cheap ?
From the EMH BB, lots going on towards the end of April,
EURO Grants possible via strategic policies, leading to updated DFS guidelines ( they'll never finish that!! Lol), more info on timetable etc
:-)