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Yeah, I would suggest if we get to 2p, the placing would be more like 125M shares. So much has been said of this early production scheme, so they would want to raise the absolute minimum prior to cash flow. However, one of the biggest mistakes they made was not raising prior to Liberia in the event first drill of 226 is not successful. Juniors need to raise cash when the going is good so nobody really knows until it happens. But I can say with some confidence even Art know this company needs Nigeria to continue on. Otherwise the company gets re-capitalized for whatever future opportunities they can reel up support for and everyone involved today walks away a loser, including him. Well, not really him cuz of what we pay him, but you get the idea.
I think we all need to assume the placing will be at least 25% or 500M+ shares. If not, great but there is no past examples of them doing a small raising or being able to find funds elsewhere. We will get punished for a raise but if they don’t bring in enough now and have to go to the market in six months again, all our shareholder equity would be destroyed, including his. I really hope he has a trick up his sleeve.
You ONLY have a valid point IF they get all the necessary approvals and financing package complete VERY SOON and the ONLY if they strike what they are targeting with their FIRST drill. You make it seem like the oil is just sitting there with an X marks the spot made of rainbows on the waters surface. If you truly believe that, then you need to worry about the Nigerians screwing Shorecan. I’m tied of hearing Kola referred to as god. The risk reward may be asymmetrical as is what has brought people here but don’t forget for a second this is incredibly high RISK. Overall chances of success are factored into current share price.
That’s just juvenile, it was a joke. Look at the number of times per day every day that you comment on this board. What I aim to do is keep new people who might swayed by all the hype to take a critical look at the risk/reward. Every time a balanced, objective, or negative view is offered YOU jump all over these people spewing out “facts” from presentations, stretching the truth, and shutting every other notion down. Wake up man, people deserve to know this could end up just as bad as it could good. Keep up the good work pal.
Haha. I only troll you Rift. Nobody else, well maybe Abman, but that would just put you in good company. True, I am Canadian, and true I am cynical because I’ve been here long enough to see through the BS. Now you say others are “de-ramping” because they speak of a placing which is going to take place? Funny. And come on, you care, you really do. Or you wouldn’t be here day and night refuting every post over the course of months.
Rift’s intentions on this board have been crystal clear to me for months. And it has nothing to do with enthusiasm and bullish good nature. He’s here to suck people in and throw shade on any facts that don’t paint a rosy picture, plain and simple. I think this last crusade has proven that for everyone.
They are a Canadian company and most of their institutional base has shares there. The London listing was to attract retail investors like yourselves. That’s partially why the huge discount in volume. Insiders and LTH are not trading shares.
Canada volume is just shy of daily average volume. As said before, it will be a material jump in volume on both sides when things get close. I’d like to see some insider and director buys, that would make me feel better. Though employees have a ton of warrants, they are all significantly underwater after expecting a lotto jackpot with Liberia and are likely a bit scared of pouring more in. When you start seeing this happen again, it’s on.
Share consolidation was a requirement to continue being listed on the TSX-V exchange. Not sure why it never happened. It has been passed allowing them to do so but Art doesn’t want to as he feels getting a stock from a penny to a dollar is easier than 10cents to 10 dollars.