Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
Yeah, this one. From about 22 minutes till the end. While it was all passed off humorously, I sensed there were bad vibes between Paul Griffiths and the shareholders, not to mention The Sunday Roast team and others.
After the presentation, Sarah Lowther opens the question time with:
'Paul, I'm supposed to be the scary one and I'm mildly terrified of you.'
He is supposed to be giving a presentation to investors and shareholders, not frightening or bullying them.
Then she mentions his comments about the m/cap in the presentation but that all goes a bit flat. Plus she brings up the ridiculous way they were loaning the director's owned shares out as new placing shares while they didn't have the headroom to issue them directly.
The questions were then all avoided or at best not answered at all, with the continued inference that the shareholders who were putting the questions were idiots.
https://www.youtube.com/watch?v=QdHMex84Utw
The last time I watched a recording of one of these presentations Paul Griffiths was having a right argument with the investors and shareholders. It was almost embarrassing as he also blamed the posts on the chat boards for false information and crashing the share price, etc.
I see the share price is down 8.8% in anticipation of this latest non-event.
Oh yes, and why would the Nasdaq 20% Rule apply if the main listing is on the LSE?
Just to clarify please is this share main listed on the LSE or the UK market? I was under the impression that this was a London listing with ADR listing in the US but half the time it is as if the US listing is the main one. There certainly appear to be a lot more shares traded in the US than in the UK. Cheers.
They have said they need more funds by the end of April. Another company I have been following were in the same situation and they have done their placing today after a rise in the share price. It might be a good time for GCM to get theirs done and out of the way. What would be a good price? 3p, 3.5p - maybe last Thursday's price of 4p at a PUSH.
AJMHO
This 'unsolicited approach' business happened at UPL a few months ago. They, though, did not need to do a placing.
They issued a 'Termination of offer period' RNS quite quickly in which they said: "Further to the Company's announcements of 23 October 2023, the Board of Upland provides an update concerning the unsolicited, very preliminary approach it received regarding a possible offer for Upland (the "Approach") and which the board unequivocally rejected.
The Board of Upland now advises that it has received information that has cast significant doubt on the veracity of the Approach and identity of the potential offeror."
The difference here is that the unsolicited approach was from according to RENX 'a large and well-capitalised publicly listed strategic diagnostics company, which is in the process of evaluating an acquisition of the entire issued, and to be issued, share capital of the Company.'
It will be interesting to see whether the management here refute the unsolicited approach and admit that they sort of imagined it and terminate the offer period or whether there is in fact any truth in it and it remains an option.
Who saw this coming??
Highlights
· The Placing involves a placing of new ordinary shares of £0.0025 each in the capital of the Company (the "Ordinary Shares") at 20 pence per Ordinary Share (the "Placing Price") to raise approximately US$10 million (c.£7.8 million).
Genuine question for any LTH's please:
What is the difference this time from the previous times that this coal-to-power project has been in the news and was expected to be given the go-ahead? I remember this share from many years ago - particularly from about 8 years ago and probably even earlier - but every time the project has come up for approval it has just been fobbed off and the Government have never got even close to signing this off.
Why are posters so sure that this is going to get approved this time and not just get ignored and put on the back burner like every previous attempt?
Cheers in advance.
What's a LTH here anyway? Someone who bought in a couple of weeks ago at about 2p?? Personally after all the shenanigans of Friday and today, I will be very happy if this drops back down over the next few days and gives an entry around 4p.
They were 4p on Friday before the leak and the price has fallen back by 4p today from 12p to 8p so it could quite easily fall back to around 4p over the next few days at which price I will be more than happy to 'top up'.
If we could just go back a couple of days to when the share price was about 4p and then there was no 50% leak on Friday and the MM's didn't open the trading at 11.75p this morning then it would be a nice orderly market with the share price rising slowly through 4p to 5p and then 6p and so on and everyone would be in profit and so happy. Instead, this is just another bloody mess that takes the edge of what was a really good RNS but then nobody cares much what the RNS says if the share price is going to keep dropping all day as this has done.
It is the same company - Power China - that is involved in both projects.
I agree, though, that the main stumbling block is the 'green' CEO but even she might be forced to change her stance or risk losing her job and any value to her large holding in ORCP shares.
Super RNS but it has just been mismanaged. Firstly this was clearly leaked last Friday when the SP rose by over 50% and then today the stupid MM's opened it right up at nearly 12p which was obviously too much of a jump-up even for this excellent news. It is quite possible this might re-rate over the next few days in a similar way to PHE which 3 bagged over a 5-day period after news that was less positive than the news here.
I see that GCM are finally making some progress with their coal-to-power project in Bangladesh. The 2 projects - ORCP and GCM - are pretty much the same so maybe this one will come back to life too. Imagine that. This would be an easy 10 or 20 bagger.