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Warrant situation as I have researched it.
23/09/19 - 116,666,666 warrants @ 1p with accelerator clause at 2p valid for 3 years from issues. So they are worth £1,166,666
23/01/19 - 58,823,530 warrants @ 1.5p with accelerator clause at 4
5p valid for 15 months from issue. Sp they are worth £882,352 (worth noting that company chairman gordan hart took up 8 million of these out of his own pocket in the placing, shows confidence. I'm unsure if he can exercise his warrants in a closed period?)
There are minimal broker warrants knocking about.
So a decent streaming of funding via warrants with no rip off placings.
Hopefully more warrants to come. Funding without exposing the company to a placing to fund some more drilling.
15 million warrants exercised. It's a good start
Imo at some point soon maybe the next rns they will no longer be able to contain the price, at this point we see a shaper rise followed imo rns's in quick succession regarding warrants being exercised.
The 1.5p warrants maybe as they have a short life and they would still be turning a reasonable profit. I dont think the 1p warrants will be exercised yet, I reckon the holders are keeping the price under control with the placing shares they have in their possession to position themselves to take up there warrants when they inevitably are unable to stop it going over 2p and they are forced by the accelerator clause to either exercise or lose them, If that makes sense. In short being played by those holding from last fund raise to be in a position to take up their warrants.
Rns dated 23rd sept
I'm going for another lunchtime rns to make it a 3rd day in a row for lunchtime news
Your seeing market manipulation at its best
Judge if it is the warrant holders then between them, how many of which of them there are they had 116,666,666 share to play with. If they are in cahoots with each other then it's a lot to use to control the price, however this has been knocking at 2p for a while now and with the volumes we been seeing makes you wonder how many they have left if that was there game.
Good luck sam keep at it mate.
Yes they are warrants that were issued for 1p during the last fund raise, they can be exercised at any price, however once 2p is hit for 5 consecutive days an accelerator clause is trigger and the warrant holders are written to and given 14 days to exercise them or lose them. They do not have to wait until 2p to exercise them it can be done before.
Forgot to add they can be exercised at any price before 2p at any time
No it has to close over 2p for 5 consecutive for the accelerator clause to me triggered, basically after the 5 days they are told they have to exercise them or lose them and I cant remember for sure but I think they have 14 days from that point to do it. You been quiet sam you still holding? You wasnt tempted by all that talk of free money over at 13e or some of the other dogs pumped this week was you?
When you reread the presentation, rns's and listen to the interviews it defies believe this is still only an 11 mil mcap.
If it hits 22p mate I'll buy you a beer
I'd say 30 - 40 mil, currently vastly under valued imo. Very good gold and copper plays in a mining district in a safe country. I feel it could be a takeover target for around 60 - 80 million with a but more proving up. Dyor and good luck
Reading resolute half year presentation, bearing in mind they have a fully set up open pit mine and processing facilities just down the road, screams to me that this will be on their radar for acquisition. It would fit in nicely with their portfolio, it fits there business plan and the logistics are already in place.
We might even manage to close over 2...
The people manipulating this will only be able to so it for so long until they run out of shares, only a matter of time. Ridiculous mcap for what we potentially have in gold and copper
It did indeed bounce off 2.3p