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1 code hopefully news soon.
News out - Solar valuation update and next steps
An update first to soften the half a million raised at 2/3 of the SP.... ouch
Lol I think not. You really think Mr Fletcher is going to allow such dilution..?? Course not. That is a great RNS, NCCL now moving full centre into buyers Radars. Plus update re Coal resource and future JV partner incoming. SP here about to move quickly upward.
My apologies just seen the placing RNS.
Oh wellā¦.no shock a stupidly discounted placing arrives. Thatās a 33% discount which was always going to happen when they announced the company was running on fumes.
When youāre 90% down already a 30% drop is less painful haha.
Warrants attached too so itās even further dilutive. Pound after pound of value in the solar project being diluted away.
Congrats Hanno - who didnāt even take part in the placing. He is one hell of a crook!
This is painful, but at least company still solvent to deliver the potential coal sale and progress the solar development. I had feared that they would bust it, bid farewell to the shareholders and the creditors would take the assets.
We live to fight another day, well until April, when we should have further positive news. Still struggling to understand why such a discount was required, given value of the projects and the potential negative impact it will have on the sp.
Whoever has stumped up the cash will have know, just like we did, the company was literally in a placing or bust situation.
Regardless of what the asset values are, youād of course drive a mega discount to improve your return / reduce downside risk (latter more likely with NCCL)
Scott Fletcher then says āyes pleaseā Iāll average down.
Heās literally the only thing that provides a sliver of hope. Heās got 20% of the Co and keeps adding in. Either heās just looking to buy a solar project like the last one that shareholders get nothing of, or he sees some valueā¦.
I agree with so much going for them why the ******* discount of so much just takes shareholders for mugs and if and when goes bk to 1.3 then the board can cash in the warrants and more money in there pocket total disregard to shareholders.we are the ones that lose out happens all the time on this casino
They need to progress something Benjan. Otherwise April arrives and once more the coffers are empty. Fletcher I suppose is caught between a rock and a hard place. His average must still be 3p. He has got himself grafted into the Board and unless he revolts, he must play ball.
Hanno is BANG out of Order, masquerading as the Leader YET showing no willingness to do anything other than sit on the Throne of NCCL. Its a disgrace he never commits his own cash here, by the way that Cash use to be Shareholders, extracted in the Millions by him. P@ssed me right OFF today. SP here will be back to 0.5p by January. Ohh well What happens when one gets buried in a S@it Show with a Dead Beat Crew running it.
I had hoped to say trade this without researching the companyā¦ā¦ if I get my money back Iāll be happy no volume company appears in crisis great lol