Member Info for dai2belts

@Desertsands, A good question will be to ask how much money the company needs to meet all due and 2024 commitments, and ask for a figure, be nice so offer to accept a 10-20% approximate.. They must have one to plan ahead..

@ Cameron, Very rude, still claiming that rig has been cost effective, its helped knock tens of millions off the MC, all out of the investors pocket..

@Desertsands, there is a get out clause, so they dont have to answer anything they feel is detrimental to the company, He1 usually demonstrate this when you ask about company finances, such as up and coming raises

@Sharebel, what time was the 2nd 3m trade, I only see 1 on todays chart ?

06-Dec-23 13:20:08 1.9195 5,209 Sell* 1.85 2.00 99.99 O

06-Dec-23 12:11:33 1.833 3,274,998 Unknown* 1.85 2.00 60.03k O

06-Dec-23 13:10:13 1.892 100,000 Sell* 1.85 2.00 1,892 O

06-Dec-23 12:13:23 1.89 5,862 Buy* 1.80 1.90 110.79 O

06-Dec-23 12:05:52 1.89 3,000 Buy* 1.80 1.90 56.70 O

Yep, He1, bad news, added to the risks is their comms, when they have news that will strengthen the price they are silent, shouted No Rig when they had a rig, now shouted raise in advance of it being completed which will obviously lead to greater dilution...

Just unbelievable they did'nt announce the rig being A1 before attempting a raise....

TwoHearts posted this..

https://corporatefinanceinstitute.com/resources/career-map/sell-side/capital-markets/short-squeeze/

@KevR, I dont know what to think, announcing they were skint, that was the No Rig sequel creating a new floor for a whole new load of traders, speculation must now be on a sub 2p raise, 1.5p would be 25% discount.. So people could be doubling their money from as little as 3p....but probably there will be selling into the drill to put that under pressure, along with current comms... the potential to fully recoup before results sucks...

Would need Noble to announce a real discovery, not some hypothethical theory

88e,

0.25p to 0.375p 50%

0.25p to 0.4375p 75%

Zphr, need to see who that sellers was..

Must be a few others...

@KevR, It would give the trollers some good material, especially now the MC is so much lower..

If they wanted to raise another £10m, Lorna has just kicked herself in the nuts allowing that announcement out... At 2p they are probably looking nearer £3m, and the BB has'nt a clue to the recent costs,,, since DM left they have not shared the breakdowns... Just hope they are topping up....

@Twohearts, I dont know, not looked, I was expecting the usual cash raise, just did'nt expect them to shout out they were skint before the AGM... From withholding info to openly honest, about £10-20m off the MC to honest.. Was expecting them to announce the rig was repaired, and the raise when the price was stronger, nearer 4p.. just totally unpredictable,

Now, I am wondering whats lined up.... especially since they shouted skint..

@Roger, they said the phone was hot with rig operators, yet they ended up buying one after choosing the wrong hot operator...Take it with a pinch of salt...

@Twohearts, I just read your post again..

I guess the vote has to go through to raise so they can drill Itumbula, return to Tai-3, and fund the company for the rest of the year...

Flipping before, weeks in advance could be forward selling, borrow shares, sell high, buy back low, and you have some cash towards a funding round.....

Clues would be in the volumes, from the end of Oct when that rough neck was known to be knackered, about 500m shares have changed hands.. ? who knows...

@Marc, The raise was always coming, thats probably part why the price was sitting at 3p. Announcing the rig being ready to drill Itumbula, and the company preparing to drill may have seen 4p... But they have announced funding early helping to send the price to 2p....

Previously they kept the raise tight to their chest, not allowing the market to move the price before funding..

@Twohearts, You never know, but I doubt there would be another raise before the AGM, they would have to go the cash box route again

Ye, but it will suck if there is flipping into the drill like Tai-3..

@Marc, its weakening the companies position to raise funds, there is a raise coming, so the price will remain suppressed.. Like the 1st Itumbula raise they could have left the market guessing, and announced it after hours, and announced completion in the morning..

Raising at 3p is 50% more than 2p...

And announcing before the rig is repaired ?

Its hard work listening to her, when she talks about the savings made through that rig, yet they have blown the budget for two drills, not fully completed the 1st, and have to raise again to complete the 2nd.. And weakened their funding position with a £20mc

@Roger, I guess the funders, at least the ones that flip get their discount, and profit no matter what the share price is, So not sure about the price being taken down for their benefit..

So you have to question He1 competencies releasing an update that seriously weakens their position to raise. Twice now..

@TwoHearts, Its the sequel

@Forrest, sure they implied moving on would allow them to complete Itumbula while waiting on the parts..

Whatever they Talk Riddles, thats we why we hindsight to complete the picture

@Roger, the few ASX listed companies I have followed had trading halts in place when raises were due to be announced, ...

End of the day the CEO allowed that announcement to be made, it maybe truthful but its potentially wiped out a significant amount of funding..

3p per placing share is 50% more than 2p...

Announcing the raise after fixing the rig may have seen the share price nearer 4p..