The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Blue already
Up 43% today, as Alex Ferguson (nearly) said - AIM, Bloody Hell!
ZCI have already been co-operative on the debt as announced in the 1 August RNS:
As set out in the Admission Document, Leboam, in which the Company has a 60 per cent interest, has a total of US$19.9 million in secured loans outstanding. Whilst monthly repayments of principal were due to commence under these loans in August 2018, in conjunction with the equity raising transactions set out above, the lenders (including the vendors of Mowana) have agreed to defer principal repayments until January 2019.
This January 2019 date must have been negotiated back again as it is not mentioned specifically in 2.4 in the interims, just payments due in the December (the CLNs) and April (the $10m).
Nice strong finish today, dare we hope for a blue day tomorrow?
GS- Thanks for the calculation. It is tight but do-able if they can get the plant running fairly consistently. I hope we get regular updates on this.
A running plant will make the debt finance conversation very much easier.
There is also the loan note requirement in December:
In addition, the Group has £1.275m principal amount of convertible loan notes which mature in December 2018
Well if it is the CEO getting out we are in trouble!
with this sort of percentage in a day there should be an announcement - "see no reason for, however...etc"
This looks like the culprit
13:10:14 02-Oct-2018 0.85 GBX 34,746,258 295,343.19 Off-book AIMX LRGS
In the end though, what matters most is what is happening 5,000 miles away. I wish they would just put a webcam on the primary crusher then we could all see for ourselves if the line is running!
That is assuming the CLN and other holders have sold out though? I was told particularly the pre-IPO lot were thought to have a longer term interest in the company and would be fairly stable.
Don't disagree with your basic point though, whatever the actual numbers there appears to have been an overhang driving the price down to this point.
That is a large buy announced for Friday. It must have been a buy too, based on the price which was above any other transaction that day. Yet the price fell on Friday, how does that work?
Well the good news is you can now sell £5K worth (this afternoon it dropped to £200), for 1.425. So the pressure looks to be easing. Still a rubbish price though..
Bad luck GS. I have similar hit but not quite so bad. It's a poor show that the mine equipment was not checked out more thoroughly. I'm not sure who is managing the mine day to day and their experience. I'm not saying they don't know what they are doing but I 'd like to know who is there.
Key now will be if they can get the finance quickly to stabilise the process. That will matter more than the terms of the finance I think (warrants etc). Need to get the mine running well to hit the April repayment in particular.
Can now buy at 1.52. Theres a good size sell order being worked for sure.
You can still sell £2K but I agree there is a large sale in the background now.
Maybe the seller was around yesterday though it is not certain when that late recorded sell was made, it is not showing at all on the HL site.
A few weeks ago there was a big seller who appeared usually on a Monday and always after 2.30, so probably US based. Then they disappeared but they helped the price to about 3.5. Recently there has been heavy selling which has counter-acted a lot of smaller, probably PI, buys. Who is selling? The big shareholder asserted themselves at the GM and should now be in sensible conversations with Roy. They are unlikely to sell at the first whiff of trouble having built a large stake and also in conversation. So someone with less than 3%. That means they can only sell around 8m shares max and that near enough has just been sold. So they should be done, unless there is more than one big seller of course!
Seller doesn't look to be around today. Just tried a dummy sale for £5K and they were happy to take them for 1.55. Made a purchase instead, agree McFirth this looks like the bottom, onwards and upwards from here with any luck.
Topped up twice today myself. Time will tell..
Great thank you.
Dropping like a stone