RE: Price of Antimony continues to climb8 Mar 2025 18:54
MrC pretty sure you've been around shares long enough to know how the issuance of shares works in line with the authorities granted at the AGM .... however your comment did make me recheck my own calculations based on the fact that at the last AGM in Oct (unfortunately IMO) the BoD were given authority (per res 4) to raise up to £1M by issuing shares @ nominal value (1p) to whoever they liked in whatever manner they chose (by virtue of res 5 also being passed much to my disappointment!!) anyway £1M at nominal value equates to 100,000,000 shares which by my calculations are all accounted for as follows:
66,666,667 .... £1M fundraise @ 1..5p
1,666,667 ... for financing (may have been sold !)
1,666,667 ... to project introducers (escrowed for 12 months)
14,720,000 .. options at 2p ( hmmm) which count
sub total 84,720,001
then €175, 000 if we progress with Hesperian which at today's RoE equals £146,825 or in shares 14,682,500 ....bringing us to a current total today of 99,402,502 out of the 100,000,000 which leaves about 600k shares as wiggle room for £/€ XR fluctuations ...
So based on this they have effectively used up their authority approved at the 2024 AGM so if they want to issue more shares under a fundraise they'll need to do it via an EGM or wait until the 2025 AGM where they'll undoubtedly ask for another authority for the following 22 months.
I suspect the reason the granted themselves the 14,720,000 2p options is because that's effectively all that was left after the other issuances for the raise/new project.
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