Agreed, but they had tempered that by the July Quarterlies I’ve referred to.
Sometimes it’s worth looking at the wording.
Back in 2021/22, GoI approval was needed for the 100% PI for Cambay. It took a while, but the timeline was always alluded to.
Once the company said “in the near future”, the decision came within 2 weeks.
Check the recent RNS👍
https://x.com/candlesticks18/status/1802246426447024520?s=46&t=ipW7IMp6GVgCsYSTs_Wd3g
This is how I see things, maybe a week to consolidate around 1.25-1.35p and then we’ll see significant movements - and that’s without news. The comparison to SCE is compelling 💪
https://x.com/candlesticks18/status/1801883021961826510?s=46&t=ipW7IMp6GVgCsYSTs_Wd3g
They absolutely could - or they could count it as a bonus all the way up to 3p again, and beyond.
Remember, 3p is only a mcap of £36m, with at least £10m in the bank.
Next RNS to confirm another sale and this flies!
All passed, over-subscribed OO with extra requests scaled back to 74.3% of what was applied for.
Polarean Imaging PLC - Result of GM, Open Offer Update and TVR #POLX @PolareanImaging https://www.voxmarkets.co.uk/rns/announcement/cc33992b-1ee1-4e26-8509-efe62daf5a40 #voxmarkets undefined
We’ve followed SCE quite closely since both did a heavily-discounted 1p raise.
They’ve just gone past 2p on no news, so the argument that new shares will drag it back to 1p are disengenuous and scare-mongering.
If we keep to the same trajectory, we’ll be in the 1.6-1.8 range soon and then breach 2p.
Just to confirm, you sold half your shares at 1.2p and declined the open offer at 1p.
Good shout on selling at 1.5p but if you’re gonna boast, at least give the full picture
No worries, it’s great to see some positivity!
Just remember to add in all of the new shares when you’re talking about the MCAP, as it’s significantly more than the £3 million you’ve mentioned.
Some nice buys towards the end of the day, funny how they didn’t move the price 🤷♂️
11-Jun-24 16:36:59 1.1999 2,500,000 Unknown* 30.00k O
11-Jun-24 16:15:12 1.20 2,500,000 Unknown* 30.00k O
11-Jun-24 16:26:46 1.197 150,000 Buy* 1,796 O
11-Jun-24 14:08:48 1.185 1,700,000 Buy* 20.15k O
“Although we have been unable to secure Deltic's future involvement in the Pensacola project, it does not detract from the achievements of the team in identifying the opportunity, attracting a partner like Shell and raising the necessary capital to drill the initial discovery well.”
I think you’ll find it really does detract, Graham.
Wow. Today will not be a good day 😢
Https://x.com/candlesticks18/status/1798717758416605688?s=46&t=ipW7IMp6GVgCsYSTs_Wd3g
We have an mcap of under £15m, pretty much on a par with January this year - except we have an extra £9m+ in the bank!
Deals are being sought, just need a few of them to start trickling in and we’ll be catching up to previous market cap numbers. Even if you consider where we were just a year ago, we should be sitting at c4.3p for an equivalent level.
Worst case is the price doesn’t drop from here and you get locked out or lose cash/shares buying back in. Already have to pay 1.25p right now.
Appreciate the honesty up front, let’s see how it goes for you. I’d say good luck, but that costs me money if your luck comes in so I won’t.
Sorry, who lost out? And 2.1 times what price?
Neurotherm were a privately-owned company.
Xenon, please read the RNSs carefully…
The 231m shares are for Placees (and not the general public / PIs). You can’t possibly say they’re NEW investors, they’re more likely to be existing IIs.
Let’s wait and see what TR1s come out as this is about 20% of the issued shares once the dust settles.
Thanks for your concern but I didn’t say I was. I was merely suggesting what may happen if they want to keep Pensacola
Can you please clarify where you get 530m shares from? Only 200m are going via the Open Offer, all General Placing shares (231m) are going into the hands of Placees. So, that makes 431m.
What makes you certain they will be flipped? You’ve just said yourself that you’ll be buying on the open market!
I can see a big fundraise, with an Open Offer attached.
Sadly, I can also see the strike price being well below 10p, as is the way these days in terms of discount to current price. My lowest expectation is 5p, with the sweetener being current holders being able to participate so they can reduce their average significantly.
That’s true. They have gone to Placees, not just “private investors” - yes, they might be HNW PIs, but it wasn’t just a free-for-all.
I find it encouraging that almost half were taken up by investors happy to lock their investment in for 3 years - even with a 30% discount that’s still a risk.
This is the breakdown of issued shares:
196,718,731 NUKEM Placing Shares
157,374,985 BRACCO Placing Shares
25,258,678 Director Placing Shares
179,590,124 EIS/VCT Placing Shares
231,826,014 General Placing Shares
200,000,000 Open Offer Shares
This is on the RNS from 22nd May, it’s been clear since then. Also, 46% + 56% doesn’t add up to 100% 🤔