Happy Easter everyone19 Apr 2019 09:05
Ok I am not going to pretend that yesterday’s RNS was not a surprise, it was: and when I first read it, which, as I was out fishing for the day (which went badly) was a long time after it came out, I was, to say the least, annoyed: particularly as only two days earlier we had an RNS staying that we were under budget.
However, when I got back home last night and took the time to read the RNS again, I realised that the cash brought in now from the warrants, will be used for our other projects, and that in getting this out of the way now, MM has not only got the money he needs for moving the plant to Régua and for the set up costs for that second mining operation, but has also cleared the field in advance of what could and should be a string of good news RNS’s over the next few weeks and months,
I do not blame MM for looking after himself and other directors, if I was him and had put in as much time effort and money as he has, then I would do the same. As for the other warrant holders, yes they are lucky to have been offered twice the amount of warrants at 0.60 as a sweetener to pay for their 0.42 warrants now, but again if I were in their position I would jump at the chance, and my guess is that many investors here would do the same, and remember that they are not being given shares, they will have to pay for them which will bring in more money for the company.
So, for what it’s worth, my view is that whilst this has and will cause a lower SP in the short term, that despite the small further dilution the fundamentals remain very very positive, to the point where when I get some more cash I will (depending on the SP at the time) most likely increase my holding.
Others will have a different view, that is their prerogative, sell, hold, or buy more, that is the choice that all current holders have, we are all adults, we all make our own decisions and we all have to live with them.
I would just ask one thing of all posters, please try to refrain from making personal comments about others, keep calm make your own decisions and carry on posting your honest, but hopefully respectful views.