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silverhorse, 42M shares @£0.003 is £126,000 cash for UFO, not £12,600.
Also bare in mind the placing + warrants fund raises were before Bill became CEO.
silverhorse you pretty much need to understand the working of a mining / exploration company as you post on here and GGP and its clear as day you really dont know how these companies work. ive not got the time to explain it, get on you tube and educate yourself
silverhorse, if warrants put you off, then you wouldn't have made any money on GGP or UFO last year. Maybe stick to putting your money in the bank for 0.10% and then experience massive inflation. GL
For circa 10% of the company bargin!
Hi, Am no expert about warrants - But this is very off putting for me 42 million at 0.003 thats a joke thats 12 thousand 600 pounds for the lot - i do not like this at all
Thanks Turbo - really interesting read to keep us 'juiced up' whilst in space port! :)
Makes the mind boggle as to the potential here. Bring on those results Bill.... I'd like to retire whilst I can enjoy it!
BTW - Thanks to Shouston for the COPL tip a few days ago. I managed to get in last minute yesterday and hoping to use it to power another splurge back here at some point. Much appreciated.
As at 28 January 2021 the Company’s capital structure consists of:
202,247,000 exercisable at £0.0015 expiring 31 January 2022
15,712,065 exercisable at £0.0025 expiring 31 March 2022
66,666,666 exercisable at £0.0019 expiring 19 March 2022
42,499,999 exercisable at £0.003 expiring 10 March 2022
11,208,125 exercisable at £0.0015 expiring 18 May 2023
2,625,000 exercisable at £0.0012 expiring 18 May 2023
12,000,000 exercisable at £0.006 expiring 11 September 2023
Total = 352,958,855
The placing holders sell their placing shares and hold on to the warrants as a form of cheap options. The expiry is next year so there is no rush for them to exercise them.
352M sounds like a lot, but we had 363M warrants exercised last year between 2nd Sept - 15th Dec.
247M of them were exercised and sold before the big spike.
Warrants were exercised during GGP's big rise.
Also to put into context, we had over 600M shares traded in just 3 days during the silver squeeze move.
The warrants will also bring in more cash for the company and delays the next placing a bit further when it is thus less dilution because the SP should be higher.
How many more warrants are there out there? Relating to ufo obs. :)
I don't blame them AIM is all about profit not loyalty. Its simple really
Here Endeth todays lesson.
The UFO train is loaded up.
Ready to go. The sale was fair but some jumped off the
stationed train and never will be seen again. That's AIM.
About 0.06% dilution....... snowflake in Antarctica scenario.
Back to patiently waiting for news.....
Looool 0.3p... really??
Lots of sells last few days - makes me think sell 1p get placing 0.30!
Hopefully on the next placing, Sprott invests! They were the largest shareholder of Arian Silver at one point.
Once we advance on Elizabeth Hill, which has excellent high-grade silver, I think there is a good chance Sprott will come back. Fingers crossed!
In the first placing last year, 1 warrant was issued with every 3 placing shares.
In the second placing last year, 1 warrant was issued with every 2 placing shares.
Since then no warrants have been issued with placings since our terms of credit have substantially improved.
Cheer max
During the first 2 placings last year warrants were issued with the placing shares.
Do we know what they are for
I'll read this today and have punt
but just wait max it will be the end of the world for the investors the ones that don't read it properly or understand
https://www.londonstockexchange.com/news-article/UFO/exercise-of-warrants-and-issue-of-equity/14902677
It's only 2,222,222 shares which equals to £23,333.
UFO gets £6,666 in the bank for issuing them, so more cash for us.
They will become effective on or around 23 March 2021, but since only a small amount, won't have any real impact on the SP.
As expected
We are gonna need a bigger truck! Or joint venture it and put it in someone else's truck :)
They only have a probable 15m ton between 55-62%fe.
If that business case works, what can we do with our resource!
Need to find more cash for this again....
C,MON lets be having the assy results.