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nomadic, at the time of the fund raise I was told by someone who knew what was going on, that it wasn't the UK investors that proved problematic, but those in the US and Asia. Indeed, there was plenty of UK interest and close to £40m was conditionally agreed.
The comment I was given was that the Canacord sales people simply didn't get behind the deal in those regions...hence my regular demand for us to sack them.

It strikes me they are building a strong defensive position to counter any move from BHP.
Is this the start of the race?
In any event, it's wonderful that we have a major shareholder willing to soak up any major disposals and also to pay a premium to do so.

Thanks DG and mogg, this is most definitely serious news and shows their intent.
Blackrock have been dumping shares in exploration companies...perhaps it was them?

DG1 where did you see this?

Schlemiel, as I understand it, the company was seeking to get permission to waive pre-emption rights thus allowing them to issue up to 15% of the share capital without being forced to make the same offer to all shareholders. They have now reduced this figure to 10%.
My guess is that the change has been forced upon them by shareholder pressure and a real chance of defeat at the AGM on this topic.

Strider, I think you've answered your own question, as max has pointed out.

I had completely missed this in the AGM RNS; just goes to show how easy it is to miss something if you're not expecting it.
The only similar situation I've been involved with was IRG and Sound Energy. At the time, I had a shed load of SOU shares. I took up my rights and bought more IRG as soon as possible. I sold in very short order and made a handsome return. Mind you, this was at a time when the world believed James Parsons walked on water and the hype surrounding both companies had reached fever pitch, which is not quite what we've got here at the moment.
Anyway, on balance I think this sounds like a good idea and I hope PS actually delivers.

bandit, no you're not. I'm astonished.

I agree, adv.
Some of the guys on KDNC have suggested it may have been mentioned previously, but I most certainly haven't heard it. It is a significant development and one of considerable interest and it's almost as if he mentioned it as an afterthought.

Indeed, bidnolid, one of the highlights of the year!

Well, if he did, it completely passed me by. Mind you, nowadays that seems to be a common occurrence.
What's your view? I think he's right to say the market is attributing no value to it, but that's also true of Sonora. Perhaps it will be provide shareholders with a bonus.

Dallas, agreed, it was an elegant body swerve.
The Zinnwald story is new. Surely this merited a formal announcement? It tripped blithely off his tongue and he stated that shareholders were already aware. Well, I wasn't...were any of you?

Am I alone in thinking his comment about Zinnwald is new news? Apologies if everyone already knew this, but I most certainly didn't.
He is obviously completely confident about financing...or least sounds as if he is.

wonderful to see all these folk from WRES turning-up on here and giving us the benefit of their expert knowledge.
Despite what BHP, NC and every mining expert and commentator have said, and backed-up with hard cash, according to these people we are way over-valued.
I can only assume the Wresers are all mining experts and have a far better grasp of matters than, say, the board of BHP. Anyway, thanks for the input, chaps; think I'd better sell.

wolfi, you are absolutely correct; EVERYTHING, hinges on, a) obtaining the balance of the required funding, and b) the structure of that funding. But of course, we've been aware of this for a very long time.
And I agree, until this is sorted out, the sp will remain depressed.
PS has stated that Citi won't get going until the New Year, so I think we can anticipate another 3 months or so of uncertainty.
When I sold my holding I did so in two tranches; one I was happy with, one I was not. My recent re-purchase was done in a number of tranches, all of which are under-water - but I only bought half the number of my original holding. The point of saying this is that I want to invest more and obviously the current price may look tempting. However, I shan't do so until the funding issue is resolved and it doesn't matter if I don't hit the bottom of the market...how many times does that happen anyway? (mind you, I got pretty close with my original buys)
What is very encouraging is that there have been a number of commentators changing their opinions and pointing to a fundamental shift in sentiment towards the sector. Most of us struggled to understand how anyone couldn't "get" the future demand, but let's face it, they succeeded in absolutely screwing the market in 2018. We can only hope the shift runs into 2019 as this will make our task much, much easier.

Sorry, I'd forgotten about the Capital Group, although I've never been entirely sure that this is 'THE' Capital Group. I'm sure someone can put me right.

TC, there's only one other ii, and that is M&G. Who knows?

Not sure what you are referring to ? I don't feel 'bad' about my opinion(s).

Apologies, I was feeling a bit choleric and your questions simply struck me as a bit daft.
My reply was unhelpful...sorry.

The chairman's statement today emphasised that the company is exploring financing at the 'project level'. This confirms what Secker has said previously, in as much as I think we can expect a combination of more equity and a significant element of project/asset based/cash flow lending, specifically tailored around Sonora. This will reduce the level of dilution.
I would be gobsmacked if the whole thing was equity financed.