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Thanks for the thumbs up!
I think I should cast my eye on here more often.
Also there has been no exploration at Saudi this q and as I said, though not ideal they routinely carry £4m in creditors. With the wcap bridge they’d be good to end of year , not saying that’s what will happen it that’s a scenario
ADS. Past RNS's have referred to a placing. Why are you highlighting this as a "shock" to investors! You well know this information. We have been made aware that a placing will be carried out at the Project side. There are no surprises!
I said in my note yesterday 2.1m in cash and with the 1.5 loan they could pay the creditors they had 3 months ago - in the following 3 months with the various exploration and dev costs for TK and SA they would have built up similar or more creditors - hence me saying they must have no funds now and a placing is imminent- simple maths unless you believe the contractors/ labs/ electric don’t have to be paid !!! Days away unless they close the funding - and gold was just $9 away from my get rich price !! (Maybe overnight)
I’m gone for the day - will look back on Friday for any news
Gold down $40
Would have to be disclosed as subsequent events. Moreover, as an RNS in its own right if drawn, as it's material. They had c 2m of cash at that point too (which you're conveniently ignoring!) and whilst certainly not ideal, they've routinely carried 4m of creditors. I'm not disregarding it, it's just in essence the same discussion we had post FYs except on the downside we're 3 months on but on the upside they now have a working capital facility.
The numbers you are talking about were as at 30 June. They had 3.6m in creditors to pay at that date - what makes you think the loan has not been used already ?
Thanks uk2 ..i think we could have a very good chance of funds coming on what ive read up on bridge loans..and DVH arsenal have the best chance of winning league this season ..we will see ..heres a tip for you ..isabella swan is running next monday ..its a horse..ive got a feeling it will win..oh i know nothong about horses as well
I think kefi is a much better bet as Arsenal have zero chance of winning the title (imo of course!)
No it is a short term facility - I presume would tide them over to completion of funding for mine in ideal circumstances.
Uk 2 serious question did kefi a date of how long the bridging loan was for
Actually ive got ARSENAL to win the premier at 50/1 today they are 25/1
I take your point historically but prospectively I'd describe a shareholder (I assume RAB) being willing to offer a £1.5m bridge laon as a decent fallback. They have a seat on the board and wouldn't just p!ss the money down the drain, presumably.
No one doubts there is gold there, no one doubts it is in the governments interest to ensure it gets out and I have no doubt there will be a mine there in say 5 years producing gold no matter what as it will be there biggest export and provide hard currency.
However, that s a world away from small investors benefiting - I invested in the Channel tunnel many many moons ago and got diluted to zero back but it was built. Vulture finance people have taken advantage of Kefi before at least 3 times - providing short term cash and selling shares - guaranteed returns with no risk - and I see no reason why they will not pounce again as the delay has been excruciating and Kefi has precisely no fall back plan - the only thing they could do would be to sell SA to raise cash but that was the reason many invested here in the first place. I encourage anyone thinking of investing to look at the share price over 5 years - from 30p to 2p - testament to value destruction. As I have said before it could happen but then Arsenal could beat Liverpool this weekend and everyone who predicted it would be a genius - still not a good investment in my opinion! - LTH have been decimated by the last fundraising - another one will completely wipe out everyone.
The point on Ethiopian gov't is key, people say ANS are in the know and if they don't want to contribute....well, I bet the Ethiopian gov't are even more in the know, right?
be careful what you wish for it may not be the news you want !
I do wish people would stop talking about spreadex as if they are taking an active interest - they are merely taking a position reflecting the leveraged bets of punters - all it shows if they take a position is that punters are taking positions.
IN terms of the Ethiopian Government $20m - I cant see anywhere that it is additional to the longstanding $20m they committed to (and to be fair have/are delivering re infrastructure) which is more than I can say for many parts of the puzzle !!
Just wish gold would pop to 1850 so I can collect my bet - $19 off at one point today !!
Sellers being punished now before close. Roll on tomorrow.
Hopefully some news flow.
interestingly only 2.16 on the ASK looks to be Spreadex left, although anyone buying knows they can buy up plenty below this as Spreadex sells shares under the ASK to continue to reduce their holding. Would be nice to punch through to the MMs as that might indicate Spreadex are out but i suspect not.
2.16 208,000 16:00
2.25 200,000 SCAP 07:50
2.25 300,000 PEEL 07:53
2.27 200,000 SING 07:52
2.3 200,000 STFL 13:27
2.3 300,000 WINS 15:51
2.31 200,000 CFEP 15:15
2.42 30,542 07:51
My gut instinct is yes. Time will tell.
News ahoy perhaps. IMVHO
Are we about to see another jump?
We dont want anybody spooked again and mass sell do we.
ah, of course - you only get individual trades for "one day"
Tintin those were the volumes for each day - not total sells for each day.
according to investing.com there were two big sells yesterday - -44m and 68m - seems awfully like our favourite spread betting firm....