The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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The £22m for FEED is irrelevant. This is the start of Stage One, in which case finance for the whole project is sought (likely what is happening now under those NDAs).
If the 3rd tranche was needed, why wouldn’t they have taken already? Maybe they expect a deal to be done and dusted by end of July..
Jiving,
My observations of todays trading is that the reported buys vs sells are largely accurate, excluding that the 329,000 was I believe most certainly a buy(and why the SP was worked down to fill this buy order).
Giving £64k buys vs £22k sells(or there’s abouts).
Gla.
Hi s86, I missed you too!
The point I was trying to make about a potential RI, was that I would be supportive of such a measure, if that was “what it takes” to “releases shareholder value”.
I took this question up on my call, and am satisfied that “although the company had previously considered this option, it was not thought to be a preferred way of raising the necessary funds to progress to the FEED stage”.
I therefore committed still further of my own funds to invest today, and will continue to do so.
Gla.
Marcus we moved from a close yesterday above 7p, to below 7p today (google finance put us down 5.65%)- ie the share price ended down because sellers overwhelmed buyers. That is because there were more sellers prepared to sell under 7p than there were buyers prepared (or needing to) buy above 7p. what was the source of that net selling, could be someone off-loading could be the company.
The company only has one means of generating income to pay its expenses (company, loan interest & loan repayment) & that is share issuance. So it should be no surprise to anyone if at some stage the third tranche is triggered, because companies have expenses & they dont run on air.
Driving you’re an absolute joke. This what you wrote 2 weeks ago:
Well it sure seems like “squeaky bum time”
We rather we have a partner willing to fund the £22m for the FEED stage(front end engineering development), or the board will need to blitz the PR, so as to ramp up the share price for a equity raise/rights issue.
Apologies Jiving I stand corrected. I looked at the wrong figures and you are correct re the outstanding amount.
Regarding the buys v sells how is it we moved from a bid of 6.52 to finishing at a bid of 6.68 if there was continued selling. I think there were more buys than sells today.
Marcus what is the connection between the share price & loan repayment, there is none that I am aware? They repaid big chunks of the loan in the previous two quarters: $463k by end December & then another $700k by end March leaving a balance of only $736k outstanding. If you find it annoying that the Glencore loan seems to be being repaid from the proceeds of our share subscription at current low levels & with obvious dilution (unnecessary if the loan had been rolled over in its entirety), so do I but it is what the evidence of the last 2 quarters is pointing to. We had only $736k outstanding at end first quarter having repaid $700k during that quarter from share sales.
Every trade was simultaneously a buy & a sell today like every other day. For example, the two trades at 8.54 for 125k @ 7.00p was a 'sell' that filled the 'buyers' bid price & quantity, that then dropped the market bid level down to where the next set of 'buyers' were bidding for shares at 6.52p.
Yes 228k was my bed and isa …
If they do need to repay the loan then the share price will need to be 40% higher to do that.
Not sure your other comments are correct especially as driving admitted to buying 182k unless you think everything else was a sell today. Which it wasnt.
Every trade is of course simultaneously a buy & a sell. But which way is the price direction - the bid price level at 7.0p was taken out by two trades & the action then all took place below 7.0p including some large trades, which have some similarities to previous tranche sales. The company cannot run on air and also may need to repay the loan by end June (see previous substantial repayments), it doesnt particularly matter, because at worst the full 12m is around a 2% dilution.
If and it’s a big if, if they do issue tranche 3 then they will need a sp of c.10p to satisfy the outstanding $1.3m + 5% shard fee
I’d say more net buys today judging by the prices they went through at.
Certainly some clear selling today (not matched trades), I reckon some 700k in large sales below 7p, & 125k at 7.0 first thing in the morning.
At some stage the the company may begin to issue the third tranche of shares, particularly if they need to repay the outstanding Glencore loan at the end of June. I note that a substantial % of the proceeds from the two previous tranches were used to repay a big chunk of the Glencore loan - I estimate about 56% of the proceeds from the 2 tranches went on loan repayment, the rest on corporate expenses.
Whisper it not, but I've heard it said that Eddsy = MM 'alter ego'.
Certainly, the shared use of 'squirm, worm' is odd.
At the very least, it's a case of HMV, aka the monkey and the organ- grinder.
Remember the 'ZIOC twitter fanboy club' back in 2018...?
GLA
Agree Driving. This is waiting time and potential investors (note they said in RNS not one but multiple are in discussions) need in my view time to do their job here, before final call as it is a large project.
give it rest eddsy man. you are giving my **** a headache man.
Your a liar just like your mate Ex. You both belong in the Pinocchio squad.
You just recently posted about rights Issues and squeaky bums. Now your Uber positive and how dare you suggest I am a seller. You can’t have it both ways 🤥
More buys gone through so I suggest you and your mate are out of Gem. You can try all the deflection you want man, however your so transparent.
On a side note-
There’re really hasn’t been much selling here for eons, there has been a lot or transfers(Bed&isa?), but nearly no chunk selling(even yesterdays £80k trades bar one 50k were transfers).
Do as Nibj suggested have a chat(call) with the company. Then you will probably chill out & feel like adding to your positions here(well that’s what I did/done).
The company really seems like it wants to get “it” done this time.
Gla.
Eddsy- i have been selling down my Gemd position (now at zero), for sometime continuing to add here.
If you think I would’ve sold Zioc shares at a poxy 7-8p(range for last months), then I can see why you would get along with the nutjob from next door so well!
Come on man, trade this and risk missing out on what we all hope will be the defining RNS..that could potentially drop at any minute, without any warning, and for what a few hundred quid!
Try and think coherently man.
I’m about as uber bullish here, as any sane man can be.
Gla.
Driving didn’t you mean to say ‘I’ve sold some of Gem Diamonds and bought back the ZIOC I sold last week above 7p’
182,784.
Regardless of what the schizophrenic suffering from paranoid delusion says from next door.
Gla(even him).
Right Marcus, certainly the first 2 big trades Monday @ 229/228k were closely matched time/price like a typical Breakfast/ISA transaction. The later trade for 122k & todays trades dont appear matched, so its relatively small volume taking us below 7p. When arguably we should be moving higher...
I think those 580k trades were a Bed & ISA
The last couple of days. Yesterday we had some 580k hitting the bid side above 7.0p & now today a 125k trade has finally taken us below 7.0p on the bid for the first time in a while. As ever its weird given we 'hope' they are in final discussions with a strategic investor, after 12 years of searching!
Oops!
https://twitter.com/LIYanChine/status/1788974720701890927