Member Info for Allthatglitters

Do Cadence need the cash?

If it was KDNC, talking the price down with mention of fund raise by their CEO would be a PR disaster.

There aren't, however, many holders with 4.5M shares.

M&G Investments Funds 13,456,784 10.0%
Blackrock (1) 13,138,292 9.8%
Hanwa Co Ltd 12,333,261 9.2%
Igneous Capital Limited (2) 9,883,774 7.4%
Cadence Minerals Plc 9,350,000 6.95%
The Capital Group 8,573,925 6.4%
D&A Income Limited 4,738,030 3.5%

There's your reason for the drop.

Will certainly be interesting to see what the company say.
They can't refute a possible need to fundraise with Resolution 10 on the bill for AGM. And they won't disclose any price that it might happen at.
I'd expect BCN to say that their intention is to raise via external investment (which obviously could be dilutitive) but that an equity raise isn't their preferred option.

We shall see.

They have plenty of cash for WC.
KDNC CEO said on webinar that they could raise at 25p. Hence drop.
Far as we know so far.

Hardly surprising.
UT will be interesting.

Buy order in for 17p.
May be a few weeks yet.

Well, whatever the reason, it's bouncing off 17p rather predictably

www.shorttracker.co.uk, Mr Mike.
But that's only for 0.5%+ positions and doesn't include naked shorts.

Will need some clarity from the company as to the mess that KDNC have created.

Reckon it was short-related, myself.
ATB

Teeny bit.

It's a bit of a nonsense article though and gives no justification for the price target:

Peter Secker although he comes across as a very professional presenter , I think maybe is where the issue really lies and I think whilst he is CEO the market will be wary and I can see it down at 25p as this can’t move towards production without funding and it will never be a takeover target as it doesn’t fit in with the strategy of the Major producers

Maybe I am wrong and happy to be proved wrong but in the meantime this is going nowhere but down sadly and my target price is 25p

Stochastic - 0
RSI - 14

Way, way, oversold.

Oi BCN: What's keeping you? Can't drop 18% in one morning and not say anything in response.

Cheers Addick.
Makes this KDNC speculation (and subsequent drop) all the stranger then.

So you're saying that cash burn should be reduced this year? So, the £13M may in fact last until June?

They are all buys.
There's clearly a large underlying sell.

That's just to give them the option as a backstop though. In case additional funding cannot be secured in time\, they will have the option to bookbuild.
And that resolution hasn't passed yet.

They'd not have appointed those Capital Markets people if they just intended to fund from dilution immediately.

It's been explained below:

KDNC CEO did a webinar in which he made their investments sound crap and intimated there could be a placing at BCN as low as 25p.

Cash burn last year: £16M
Cash in bank as of 30th June: £13M

So, no idea why they'd need to do it now or at this price.

That was two weeks ago.
Wouldn't suddenly cause a flash crash on a Monday morning.