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The last placing could have happened at £0.01 but the directors just wanted to dilute a major shareholder that was going to oust them.
Same this time, they could have made the placing at £0.01 again and yet, they don't because they want their friends and themselves to make a killing.
Dacs - here is the latest - you can try to work out the revenue and valuation out of this.
https://www.youtube.com/watch?v=PcYF1evQOEU
FAR mcap is £50M (was as today increased by 30%). Iron has more products and of a more valuable value. Has anyone listen to the last video put out by Iron?
Sales will start next year, contract already in place, etc..
Once cash flow generate enough cash to be self sufficient, there won't be more dilution, unless it bring much more to the company. At the moment, I have 4.5m shares and would round up to 10m shares before end of March 2023 if I can cash in some other shares by end of March 2023.
Why are we not yet at 1.8p like when we had the "deal" with Grovesnor. It seems the last placing was not a good deal at all. If at least the board was considering using the money from Governor when they come on board to buy back the last shares issued at £0.0035 per shares, which would allow grove nor to get between 25% and 30% shareholding, then that would be a good company to be invested in.
19:15
The placing raise £4.5m out of the £5m that Grosvenor would have paid. So now that they have almost all the monies they were looking for. The board should accept to issue the 560M shares at £0.01 to grove nor to get their £5m and use those £5m to buy back the shares newly issued at £0.003 at say £.0035 That would be fair.