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Anyway, on topic: Come on CNR! - wondering if we'll get BFS & funding in one hit RNS? Something must be happening in the background, surely. It's just been too quiet.
FM might not have been given the option to participate in the raise. Pure conjecture of course but what if JM/MC don't want them to have too much sway just yet?
Or what if FM calculated that CNR wouldn't be able to pay the balance and therefore they could make a grab for loads of cheap shares, and JM has rescued the situation by stepping up in this raise?
Also, in my experience, very wealthy people tend to act solely for their own interests, without a second thought for anyone else affected. I'm sure JM probably thinks he's done CNR as much as a favour as he needs to for now by stumping up the money for the plant balance, and 35p shares and warrants was his price.
We'll get there, I'm certain, but i do think there's a few more hoops. In my experience plant build and testing always takes longer than you think so 2024 does sound about right tbh. Toll deal is the best thing we can hope for shorter term.
Noel understand the frustration but chin up. It's info we pretty much knew already, hence not much movement, but it's still good news to get it confirmed. Major factors weighing on share price haven't changed - elections, the need to raise money, constructing the plant and more importantly the subsequent testing/trial production phase will take a while. And a toll deal seems to have dissipated.
fully agree ISA.
On other posters points: I too cant understand why gold isn't higher now, but i still think it will go much higher. If you believe in technicals, take a look at a long term gold graph and look what pattern you see.
Short term here i think it's 1/ election uncertainty, 2/funding/placements, 3/toll deal not materialising, that are holding us back.
still a strong buy for me, and compared to most of the Co's on AIM seems well run, even if we're all a bit frustrated that we'd like things to be faster.
AF I think you're right that the SP is being held back but I cant fathom out why. Personally I don't think it's to do with management but something possibly more practical. Maybe to do with the last bit of land negotiations and not wanting to strengthen their hand? or maybe something to do with First and buying the plant in shares? or maybe something to do with politics, not wanting to appear too valuable?
On the other hand, maybe its because we're still 18mths off production because it will take that for the plant to be delivered/built/tested/optimised
Who knows!
Just pondering. Wondered if the share price is being held at around the 50p level by RB drip selling and if its connected to FirstMaj needing to hold the payment shares for a set period and so they don't unload shares etc.
this is just my opinion but I think Ross has been selling bits for a while, its just now that he's gone below a threshold he's reported. Dont TR-1s have to be reported within working days when you finished selling?
It's the old mining exploration curve. GGP was us 10 years ago. Initial excitement , ramped up by the AIM to raise money. Then it drops like a stone because it dawns on PIs that that there wont be a gold pour within a couple of months, Barrick/Rio aren't going to buy them out without a BFS, drilling/jorcing costs fkloads and takes forever, and all you can look forward to is dilution for years. :)
Interesting that circum has been removed as collaterol for loans. I see it as a good sign, the worry for many was GR pulling a fast one if prem went down. It could of course signal circum being worth FA :) and that they are happy to let it go.
You have to ask yourself why GR and SD are happy to convert at .068ish rather than the usual manufactured spike followed by an announcement. I think, like others have said, that there must be something good happening shortly