Member Info for GeologyStudent

have approx. 12mill shares remaining from the beastly sell yesterday. Should be bought up today or tomorrow at this rate.

With reference to their feed, CRA have no intention of raising funds via equity. But who knows with these incompetent fools? Can't even operate a profitable mine in a bullish copper environment. We should be looking at 10-15p in the next few months if they are to be believed.

Additional working capital will be raised to cover current liabilities and expenses during rehab. No doubt about it, we will be diluted but we should at least achieve 6-11p once we reach nameplate. I can offer a more accurate prediction once funding arrangements have been announced.

For a full rehabilitation, they will need close to £3mill but that will be prohibitively dilutive. As an alternative to equity, they may secure debt funding with warrants attached, like before. For example, £3mill debt funding with £1mill warrants exercisable at 1p. This would result in 370mill shares in issue if exercised. At nameplate, this could reach 11p at $2.80/lb. If they are unable to raise debt funding, the worst case scenario is £3mill of equity funding which will result in 600mill shares in issue and we would reach 6.5p at nameplate at $2.80/lb. To surmise, we will be diluted, but to any potential funder, we are a compelling proposition at the current price. Even if we are diluted into oblivion and the worst possible funding scenario happens, we'll still achieve 6.5p within 6 months.

Possibly. But if the dilution results in funding for the rehabilitation, I'm supportive. We have no other choice. To Quin: I am stating that there is a strong chance of a recovery. Looking at it objectively, the only issue CRA is facing is defective parts in the plant. If funding can be secured - whether it's at the expense of dilution or not - to remedy that problem, we will be able to reach nameplate. Depending on dilution, we could be looking at 10-15p within 6 months.

It was noted that Kevin would negotiate with the institutional investors regarding their opposition of the resolutions. The passing of resolutions would permit further dilution, which City Financial was opposed to. I can only guess that the negotiations didn't go to plan.

For the previous three months, they have suffered negative operating cash flow of $3mill, at a rate of $1mill/month. This is attributed to the fact that the plant is only operating at 40-50% of nameplate. However, due to the higher recoveries of 75-80% expected in Oct, in contrast to 50-60% experienced in Q3, the mine will break-even at the current run rate this month. Further, CRA have replaced a part for the primary crusher and therefore I expect an increase to at least 60% of nameplate this month, resulting in positive cash flow of $600k. We'll see what happens...

11mill of the 34mill sold have been bought up by retail investors. 23mill remain in MM's hands if no large buy orders are announced. Let's see if there are any buy orders displayed soon....

Good spot. Highly likely it is City Financial. Shame. But I can't say I blame them. This has been a shambles. Without them on board, Kevin will exercise his voting rights to force through the resolutions that were previously stopped by City Financial. In all probability, we are going to be diluted into oblivion if we can't secure debt funding for rehabilitation.

Pre-IPO placing contributors held approx. 50mill shares including warrants exercised. City Financial held 37mill shares.

don't have a holdings RNS, it will be the pre-IPO placing contributors.

Include the pre-IPO contributors who collectively held 32mill shares plus warrants exercised.

show that the MM's have up to, or are expecting, 50mill shares in their warehouse if everybody else has offloaded. That is 18.5% of shares outstanding....

Get your wallet out and buy 10mill shares for £105k!

Just appears as though another seller if offloading. The potential culprits are: debt holders with warrants, recent placing contributors and pre-IPO contributors. They have a total of 50mill shares to offload, of which 34mill have already been taken up by the three institutions.

sometimes, because of timing error of this site, it takes slightly longer for the bid and ask to change. Therefore, a buy may appear to be on the bid price, but is actually at full ask. If your assessment is correct, however, it still doesn't justify such a drop. Large seller remains.

fact that it's red indicates that the trade price is below the mid-price. Bizarrely, today and yesterday, the buy price has been below the mid-price, presumably due to the seller.

only 2 small sells visible to me from today. It's probably a large seller in the background.

Is still here....

buy orders. If what I've said is correct, the MM's have a lot more shares in stock and are expecting more when existing sell orders are fulfilled.