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Let all the LTH all celebrate the rise. Long may it continue. I doubt there will be a standard placing, BUT, they do have a funding facility set up with Sanderson which they could call upon to the tune of £700k which Sanderson would be mad not to convert to shares. This would still only be a small dilution compared to previous ones.
Whilst I like the recent rise as much as everyone else and am excited by the Bushranger potential, I am also cautious. We have been here before with sudden rises to the 2p mark shortly followed by a dilution. IF XTR needed cash, Sanderson could lend it £700k as part of the pre-arranged funding facility on the 30th Sep 2020. Sanderson could then exercise its right to convert this loan into new shares at an average of 1.5p per share, a very healthy return on a loan, provided of course that the shares held their value and Sanderson were able to convert them into money at some point. Such a move would express confidence in the company but would also be a 'nice little earner' for them.
This RNS shows a couple of things, the BOD actually do care about reputation and to issue a rebuttal so quickly when in the past such news would have been met by silence can only be a positive sign for the future. The other concern is what is not addressed, there is no doubt even in the 'articles' that the Zambian Mining Ministry did issue a licence. The concern is how this happened and what went on behind the scenes. In my opinion, the RNS should have also stated that this decision is not being challenged in any legal or regulatory capacity. Any due diligence would have examined this aspect of the licence being granted so why not confirm it.
These issues have been bubbling away for a while and whilst I agree this ‘article’ is poorly written there could well be a grain of discontent in how the mine was originally acquired. The only way to dispel these rumours would be by a clear RNS by Xtract explaining the situation and their confidence in the due diligence process that took place prior to purchase.
Pleased as I am with this research,
"Xtract provides a refreshing change to the raise and dilute brigade of resources stocks"... Really ? ?
A4444, I agree wholeheartedly, there is very little confidence in the company and everyone feared another dilution. It is no coincidence that the SP rose with a steady stream of good news and now following the collapse, the good news has stopped as well. Could a dilution have been planned and then scrapped when the market got jittery ? I have my fingers crossed for the future but CB and the whole BOD need to start re-building confidence.
Thank you, just think all that dividend money sitting there resting
Does anyone know if a dividend is allowed to be paid yet ? Asking for a friend...
Now common sense has broken out again, we should be getting back to 190 and staying above it.
What does it when the share price is in blue ? I have seen this on other shares
Andrew, sorry , please ignore, the video was about Manica, not the copper dumps.
Andrew
This interview is three years old ? The court issues around ownership have only arisen this year ? Am I missing something ?
Sorry to be the voice of doom and gloom but they suing XTR for over $100k. It is good that they have been given the boot and we may need to pay them off through arbitration but things have not gone so well. I reckon the lack of amazing alluvial results and led them to question the 50/50 deal and seek to cut their losses.
And the pound will be worth as much as a Zimbabwe dollar.
It will be even more interesting if Labour / SNP win !
Well here goes, come Friday this will be completely different one way or the other. Personnally, I need £2.05 to break even.
Some heavy selling today. I think CB needs to allay fears over the ownership of Kalengwa. Is there truth in this old article or are de-rappers at work. Sadly the lack of overall confidence means people fear the worst.
I have been trying to buy this morning with 'Smart' Investor with no joy. I am taking the risk even though I fear the phrase 'reorganise management' is a loose translation of 'we will need another placing to pay our own costs'
Unfortunately, when people reasonably expect an RNS and one is not released, the lack of trust means they think the worst.
Let's not criticise JB too quickly, without a deal tonight this will go down like a chubby kid on a see-saw !