Looks like AIM is done4 Nov 2024 12:15
With all the greedy parties dipping their hands into shareholders' pockets over the past 20 years, this exchange is truly on its last legs.
Only a 50% turnout, with over 90% voting to get the hell of AIM.
I think the cashcow is well and truly over for the City Boys who have been having way too much fun, and are now worried about having to actually work for a living.
They've lost nearly 100 companies in the past year. That's almost 1 every 3 days lol
Looking at Armadale:
I don't think the CEO is perfect and needs to take ownership of his mistakes, but he has certainly been dealt a bad hand.
This company has had only ONE fundraise since 2021, and that was to bring a new project on board. Compare that to companies listed in London with placings every 6 months at lower and lower prices being constantly churned.
Now look at the company itself:
£775,000 in investments
£25,000 a month in cashburn which will significantly reduce once this is off AIM.
Still had a solid Silver Project. (If you don't think so, look at the actual project itself.)
Still has 100% ownership of their Mahenge Graphite Project, with BKT finally acknowledging the entire region is relying on them to progress.
Suddenly, like or loathe MB, we're not in the worst of positions. No fears of bankruptcy, and no MM games being played as you see with the whole of AIM.
The City Insiders and their fake profiles can continue to talk to one another on platforms like this, but they'll all stop after de-listing because they no longer have any financial objective.
Those who wanted to stay listed, likely wanted to try and recapitalise by wiping out existing shareholders. That's what has happened with dozens of other companies on AIM. Thanks, but no thanks.
I look forward to see how this plays out, but I'm certainly not worried about the future now we're delisting off this garbage non-exchange. The only exchange people consistently lose money on is AIM, whilst I see 5 and 10 baggers on TSX/ASC regularly.