RE: funding26 Aug 2018 21:06
Not this nonsense AGAIN.
The company have said that all existing budgets are funded and, in fact, that there was additional cash as projects were under budget. There's also a vast array of options due within twelve months to keep the coffers topped up.
Junior Explorers don't spend £7.5 Million in 9 months.
The company will not be raising money at this price. End of.
Continuous suggestion of it gives the impression that people are actually looking to undermine the price.
The reason the share price is in the toilet is two-fold as I see it:
1) Commodity prices. These don't in any way impact an explorer. We are years from producing Gold. It's perfectly possible that the company will never produce. But all Goldies are hit by the falling price. Same with Iron prices being depressed. It's the perception rather than reality.
2) Over-promsing and under-delivering. Delays, Delays, Delays.
Toro's said it in pretty much every post lately that the market cannot value Ghana without numbers and I sense that though he's Mr Company, he feels the frustration that the rest of us are dealing with. I'm sure he will correct me if I'm wrong.
It's all well having a few amazing intersections, but what grade is the lithium? Where are the rest of the intersections?
What on earth was up with that interview in April promising 'continuous newsflow'? And that one in June, apropos nothing, suggesting a re-rate is on the cards from 28p?
Why didn't the company publish the most recent presentation? Or film it for overseas investors like us?
How can IC assays be TWO MONTHS late?
It's been four months since the drill started and over one month since it finished. Yet we know almost nothing about it.
Why isn't Abonku being drilled straight away? Why did the Chairman step down? Why is Len doing some of the jobs associated with CEO and where the hell is Vince?
A big bunch of red flags and no answers. Instead we get a photo of the team in Ghana. Whoopy ******* doo. That's why the price is just above bottom. I'm actually surprised it's held up this well. There's a huge amount of support at 21p,
Clarify that list of concerns. Provide the market with positive numbers. I think we'll double from 22p. Easy. 50p looks achievable short term.
Compare Pilbara, BCN, AVZ valuation to IRR. We have Chad, Monogoribly and Gabon (the later of which is worth biliions) too.
PS there's my rant, Mike. I hope I've put it constructively rather than a big moan!
Sign In
Follow the stocks
