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Of selling today taking the mcap back below £2M. Where is the bottom....
Thank you for your balanced and thoughtful assessment of the current situation. I'm sure your contribution is greatly appreciated by investors/traders. Close the door on your way out.....
Lots of sells in the past 15 minutes taking the SP down closer to 0.1p. Surprised the SP is holding up so well given GOI JV approval is potentially weeks away.....
Talking about BS.....lol
Oh dear, there speaks a very disgruntled investor (or more likely an EX investor!). Can't beat them all.....
Gold & copper price buoyant, (seemingly) TK finance approval very close & our Saudi assets continue to grow. If it is all real then those buying at sub 1p could make an awful lot of money...
12 Apr 24 RNS: No cash required until the autumn? BoD will still need paying at some stage!
Cash Management and Issue of Warrants
Given the substantial reduction in sales during 2023, the Company maintained operations, including project development, through creditor management and from the Board's election to take substantially lower cash payments.
Considering future sales volumes, and the Company's historical creditor balances, the Company has augmented its previous AUD $100,000 short-term financing facilities, from an individual investor, with a further six-month AUD $50,000 funding, from another individual investor. This funding is at an interest rate of 12% per annum and has attached 10,000,000 warrants, which have the same warrant terms as those previously agreed (exercise price 0.5p and maturity 31 December 2025). Again, these unsecured loans have been undertaken through the Company's 100% owned subsidiary Ebony Iron Pty Ltd.
The additional 10,000,000 warrants, over new ordinary shares of 0.1 pence each in the Company with an exercise price of 0.5p maturing 31 December 2025, have now been issued (along with those previously notified to the market on 8 February 2024). No funds raised under these facilities will be applied to balances outstanding to the Directors or CFO and, currently, it is not envisaged that additional short-term funding will be required.
This came on to my radar after TW 'tipped' it as one (of three) gold tips for 2024 in early April. The buy price was then 2.8p. Managed to buy a few recently at around 2.4p and happy to see how the projects develop...
Looks like peeps agree....
I did like this statement! A monster in the making....
· Hawiah's status as the third largest base-metal development project in the now burgeoning Saudi Arabian minerals sector has been reaffirmed by this highly successful exploration programme.
I did say yesterday that now would be a good time for a Saudi update to keep the positive momentum going. On first read looks like positive decelopments. Did fukutu say we were heading sub 0.6p....lol
Positive update....
Boom?
Fukutu, I think you need a new crystal ball (or refresher on how to read L2 data lol)
I think the 'market' might be pretty receptive to some (positive) news from Saudi to keep the upward price momentum going. Over to you Harry...
Carrott, GOI approval delayed until the autumn will likely lead to a discounted fund raise imo. I'm more optimistic of earlier approval and immediate receipt of 2.5m dollars. In the meantime the SP continues to decline....
Not encouraging trading (ask 2.5675p and bid 2.4020p)
Just shows what can happen to an SP on transformational news.....
I share your optimism about the GOI approval but still believe it will be late summer before the relevant Minister gets around to signing. Not too long to wait in the scheme of things and I'm sure, when the exploration activities get underway, it will be worth the short delay resulting from the timing of the elections....
Looks like I sold my 'trading' shares too soon! Didn't expect the SP to react as positively to yesterday RNS. Should have listened to TW and held them to the end of the month for 1p+. Oh well, good job its only money.....