Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Additionally, I suspect any difference between what the nominated price is and what the MM will offer will be paid for by the company via the company broker. It would explain yesterdays sudden drop in price and filling buys at what looked like sell prices at the corresponding times.
Good work FS
We bought the NW Zambia licences using 2,500,000 shares:
iii) for the issue of 2,500,000 Galileo Resources plc shares (the "Consideration Shares") at a price of 1.175 pence per share being the closing Galileo share price on 4 September 2023 (totalling £29,375). The Consideration Shares are subject to a three month lock up arrangement and thereafter a further three months orderly market arrangement. Under the orderly market arrangement, the Consideration Shares can be sold via the Company's broker at a price determined by the vendor (the "Nominated Sale Price") which shall not be less than the lower of i) the 10 day VWAP and ii) the closing bid price on the day before the fixing of the Nominated Sale Price and the Company's broker will have 10 business days to sell the shares at the Nominated Sale Price
I suspect over the last month or even yesterday these have been sold.
CB is only in one company that could be life changing SP appreciation. AFP to some extent as sold out to FQ and will need to raise money this year so dilution is on the way. If even their licenses with FQ are considerable then they will only own 25% of them. Whereas, GLR does have licences where they could be worth over £100 million in their own right for GLR. GLR is IMO the only chance of CB getting that big London deal. I do realise AFP is only worth a third of GLR at the moment.
It is quite a difference the way GLR bought the NW Zambia compared to a company like KAV. CB paid around a million US dollars but $750, 000 will be spent on drilling and data research to aquire 65% but at any stage of the initial research we can back out and walk away. KAV spent over $1,5 million for 90% of old Botswana licenses but will need to spend millions to prove up and if they carry on finding dust will be hugely expensive to walk away. CB is quiet the deal maker in purchasing licenses and let's hope he can be just as good again at selling if we do have the correct post codes.
So we have increase from 1.05p to 1.175p in a week I make that an increase of 12% which is OK. Let's hope it can carry on next week. We all knew that we had these licenses and that we were doing work on them. Well now we know that a drilling campaign would be well worth while. The AIM market is one of the most inefficient in the world. 2020/2021 was a bonkers year when many people were making money on the speculation but now it needs to be the full blown killer RNS and I am sure we will get one in the first half of the year but I can't decide which of the 5 prospects it will come from (Kalahari own, Kalahari SFR, Kamatavi, Luansombe or Shinganda}.
Another post and even though it was aimed at XTR shareholders to vote through the new deal and not think CB will waste the monies from the sales was again GLR. Yes, Luansobe is almost now a certainty but CB really positive on Shinganda. I believe this will be the one he his looking for that huge sale London AIM's not seen for a while. I am definitely not thinking JV, I am thinking a mega sale.
I agree Cyber and add that over the last 3 years LTH's are well down on other AIM exploration/mining companies such as XTR, KAV, EUZ, BZT, HZM and many, many more. We are worth over 4 times what we were 4 years ago. CB said it London needs a big deal.