Another RNS18 Apr 2024 20:41
Funding milestones met and tranches of shares issued to billionaire investor Q global for cash.
From Jason Brewer:
"The shares issued now come from a transaction that we actually started negotiation on in November 2022 and which we announced in January 2023."
"Since then the funds - which have now had shares issued against them - have purchased plant and equipment and funded diamond drilling and exploration activities across the company's portfolio of battery and critical metals projects"
From Dave on telegram:
These shares were announced in Jan 2023, well above what the SP was at the time.
Jason also has a 72k salary. How does that bench across other junior mining CEOs? We see a lot of numbers much higher than that.
There was anticipation of these shares being released (as it was announced in Feb and March) so some traders may have anticipated a dip to trade.
Some targets have slipped, mainly listing on NSE and JSE, possibly announcement any day, could even be as soon as tomorrow.
Also just huge lack of confidence in junior mining sector due more bad news stories than good.
However, if revenue and first OT land next month, manganese May or shortly after as it is already producing the Maru will be more financially secure than most junior miners and it will show that the collective of Q/Jason/relevant consultancies have chosen and expedited the right kind of projects.