40 Million mc puts alot of share holders that bought in, at the low 20's break even, so not great. Obviously will be a long hold from here, maybe a year or two.
Ok the point I was trying to make, was just because they say project is fully funded for the year, doesn't mean they won't raise more capital through a placing.
Probably alot of nervous investors deciding not to invest in CMET until they get the placing out of the way. I know people will say they are funded for the year, well that doesn't mean lot in AIM. Seen it so many times, like AAOG for example, that kept saying it was all nonsense about the 10p placing rumour, when the price hit 17p. Tom Winfred called it and it turned out to be true. Obviously the price started to go south, so they did the placing at 10p!
As previously stated, the EIA approval will probably be delayed. This is AIM and 99% of the time they over promise and under deliver. BOD have gone very quiet, so I will wait it out until a sub 10p price can be bought, bu the end of June.
With H2 fast approaching, I did say there would be a delay in the EIA approval. Probably see the bews land around end if the year. Great opportunity to buy in now though.
You say I have no credibility, but yet I have been correct so far. The share price has eroded. When RNS stating EIA is delayed, then I will await your recognition I was right.
I learnt from years on AIM that you don't always have to jump into a share hoping for good news. Deadlines are rarely met on AIM and I see this going the same way. Obviously it is better to buy in low and get better multiples when this does rise.
EIA approval will be delayed, like everything on AIM, deadlines are rarley met. This project does have huge potential though, but I will wait for the RNS to state EIA is delayed, then I will buy in cheap and hold.
RE: Micheal Frayne CEO- history to repeat itself9 Apr 2021 14:31
Yeah I remember UKOG with all its proposed billions of barrels of oil?!? David Lenigas back in 2014? Whatever happened to that, all bs I imagine, judging by the share price.