Member Info for BwanaMakubwa

Simbah-the Department of Mines and Department of Health are totally different entities!!

Nothing has actually changed (except the share price!!).A huge amount going on in the background.Hang in there.Newsflow, when it comes, will bring in new buyers.Remember the Chairman just bought $850k at 120p.

Hazbeen-I queried the company on this some weeks ago and they insisted it was a large PI seller, but did not know his motive.
I agree looks very suspicious-we got the same thing in February everytime the shares got near 10p ahead of the 7.5p placing-I think it was Cannacord then.

"Thing is, IRR is not located in the most stable mining jurisdiction in the world"
I agree you could say that of Chad-hence I ascribe no value to Chad gold assets .But you certainly cannot say that of Ghana, where the West has a long and successful mining history-remember Tiny Rowlands and Lonrho?

"PEEL on the bid is good news isn’t it ?"
Hope so-house broker has been on the ask too much recently!!

Hi Tony-I had not actually picked up on that-but now you mention it you are right and make an excellent point.Thanks for drawing this to our attention.

Apologies Tony-our posts crossed, but are essentially saying the same thing.

As many have stated-it is blindingly obvious that it would have suited us PIs if this deal had been debt funded rather than a discounted equity placing (it would also have suited Graham and Majid as their discounted warrants would now be worth a lot more).However,I suspect there was a huge time constraint on this deal.The seller is aggressively deleveraging and wanted the deal done fast.I3e were probably given an exclusivity deadline and to hit that they chose discounted equity-much, much quicker to achieve than trying to put together a syndicate of bank lenders, especially in this climate-that could have taken 4 plus months and the opportunity would be gone elsewhere.As Jolly point out what is good longterm for the company is not necessarily good short term for shareholders.
As for the AIM market-it is crooked, corrupt and hugely inefficient.As I have said before that throws up huge frustrations, but also huge opportunities.PIs are regularly shafted in discounted placings, but if you do not understand this or accept it, best to stick in the much lower opportunity, but safer FTSE250 and 100.
What I attempt to do is buy in size very low before the shares are ramped and placings occur.However, this requires huge patience as you often sit on dead money for months on end (ACP and HZM are my current examples).I3e is firmly on the way so let's enjoy the journey and back management until we understand the true circumstances of the deal-which at the moment we do not.

Think its "imminent" Loverboy:))

Outside Kabunga selling it appears a few are capitulating here-seems odd timing given proximity of the ML and that dreadful "imminent" word:))

I take the point and agree that it would be nice to see Graham and Majid putting some of their own hard earned wonga into shares, but to be fair they will be almost permanently restricted at the moment(and for the past months) and will continue to be whilst in receipt of farmout information and any further acquisition plans.

Don't forget Musk comes from a South African mining family. By far the richest African American.

Agree again AIM-a poor summary from BMO and the PT was cautious to say the least. Given broker PTs are generally 12 month targets 17p would still be conservative.

Agree AIM-I hear you re EU machinery-that move alone pushes up costs by $20 million.

Have to say I 100% agree with you Miss Grey...

Sorry..."disparate PIs"

Sorry GGG-always love your posts, but in this case respectfully disagree.I3e is becoming more attractive to IIs by the day.10 new good institutions buying £5m positions will do alot more for the rerate than a bunch of disparate IIs. I am talking IIS, not hedge funds-who I hope were largely excluded from this placing.

But it will be the IIs who eventually rerate this not us-so I can understand I3e looking after them.Not pleasant as a PI...but a reality of life.

"it was pretty well oversubscribed. 44% and 40% fills on placing and PB. Stock doesn't turn up for a few weeks though so shouldnt be too much flipping short term"
Very interesting if correct.

Personally Luke,I am enjoying reading "Waiting for Godot" (for about the 3rd time):))