RE: What was missed?20 Dec 2024 10:04
..... personally for me I think you need to look at a few factors to assess why we have to raise at such huge discounts:
1) our history of raising :
a) the success of those 'projects' that we've raised to invest in - name one that has been a resounding success.
b) the proclivity to raise more funds on the back of any rise.
Loans ... The Mexican loan was particularly damaging in so many ways in my opinion ... not only did we raise far more than we needed (for the purpose stated) but look who it was with & the investments the balance was placed into....
The BoD .... being primarily appointed by or associates of Lenigas there's always going to be a taint that respectable financial institutions would be very wary of.... additionally for me the episode where Kiran (as the CEO) stated that he 'wasn't informed or aware of our BCN takeover attempt' what does that say about the BoD??
There's are so many other, actions, statements activities that would deter investment without a sizeable discount .... unexpected last minute delays, announcements of mining in 2 years that have so far taken 5+ with at least another year .... then just when it looks like we might finally be getting somewhere they find another delay & another 'speculative' unknown project to throw money into ... with our success rate who would buy in without a significant discount .... there's so much more but without going into any more details those are some of the reasons .... of course if anything we'd ever got involved had actually paid off well we might not have needed to raise so often .... but yes I think this type of company is a high risk especially for PI's, especially when there's no success a haphazard board & continuous raises & dilution.... so the wise money takes a huge discount with the mindset of taking a 10/20% profit & then do it again in a few months time....but what do I know LoL 😂
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