Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Very good Steve4077, I'm only paticularly interested in the shares i hold and have no interest looking for other examples. I would be somewhat unfortunate though if the the shares i've mentioned were the only ones to have suffered this fate.
You seem very keen to diss my concerns, are you a Broker?
Steve4077,
I think your missing my point. My concern is that pre placing ,share prices seem to fall significantly, as youve pointed out yourself, 45% and 20% . Why do you think this is? I would also imagine that to most shareholders a 20% fall is significant.
Steve 4077. You make a fair point, I can also add GWMO .26 to placing .22. My sample are three shares that i hold, two of them large holdings, that have suffered from these discounted placings and warrant awards. All three via Novum securities.
I have no problem with placings just the price and terms under which they are conducted. O f course its all about opinions and if you are content with constant discounted dilution all well and good. After 25 years of trading on AIM i'm very cynical.
Iceberg, thankyou for your kind words. Xtr 7p a few days ago walked down to 6.2 ,placing at 5.6 , coincidence?
ECR 3.9 walked down to 2.5 over a few days, placing 2.2, coincidence?
Whilst i wouldn't be rude enough to call you a idiot, i would certainly call you naive.
ECR,GWMO and now XTR all three with recent placings via Novum. All three having there share price walked down in the days before the placing, all three placed at a significant discount to lower walked down price. The link,Novum the bucket shop broker. So possible forward selling or shorting,all proably done with the knowledge of the imminent placing. It's called insider trading.
Andrew Neal on twitter
@andrew_neal7
#CGNR picking up cheap shares even though I was buying in the 7s 12s 15s + placing stock at 25p & the recent 33p
Saw 48p on AAZ potential JV but was hijacked by $5b conglomerate on much better terms
My 2nd largest holding & market cap verses JORC/8.8Moz isn’t right - simple
Couple of sensible posts there from Cheapie and Positivevibes. The price has fallen 5% on a miserable 51,000 shares, just the impatient being impatient. Any negotiations involving the legal profession are always going to drawn out,how else will they justify their fees.
Oh course we do have Prof Conroy who seems a bit of a maverick and he could yet snatch defeat from the jaws of victory.
I contacted WH Ireland on Friday and spoke with Katy Mitchell. She said they as NOMAD had no input into the placing it was between the company and Novum, so they didn't advise.
I said,The company seems a bit lax on the PR front, do you advise on that. No was the reply.
Why have the first assay results not been realeased, is it actually legal to withhold market sensitive news? said I. Craig hasn't got the results back was the reply.
That's interestesing as he said in an interview a few weeks ago he had received them. Silence. At this point i realised our nominated advisor didnt seem to do a lot of advising or indeed to be much bothered so i said my goodbyes. I was very underwhelmed.
I don't believe Craig had any intention of doing a placing when he stated we were fully funded. I suspect this raise is the idea of Novum, for the benefit of Novum (no placing they and they're clients don't profit)while threatening Craig with 2 million quid. The lure of the cash proved to much and he agreed.
Novum are a poor operation, there is plenty of information regarding them and there emloyees available. Check the accounts on companies house.
Doe's anyone think its a coincidence that the share price has been relentlessly marched down over the last couple of weeks.
This is how AIM works, probable forward selling,short selling or general unloading of those in the know, the sharks flourish while shareholders get shafted, if you can't accept that there is no point throwing your money in.
I hope i'm wrong but i wouldn't be surprised to see Spread Ex or Monecor declare a TR1.
Unfortunatley this whole episode has eroded many peoples confidence in CB. It's a real shame because there is no doubt of the exciting potential of the company.
I don't think the issue is the raising of more cash,it's the price and timing.
Why wasn't this done a few weeks ago when the price was higher? We could have placed at 3.25 and warrants at 4.75 thus underpinning the price and resulting in less dilution now and at warrant exercise.
For those who are been condescending to those who are unhappy about this remember everyones hard earned is invested and all are entitled to an opinion wether you agree or not.
The reasons given for the placing are very similar to those given by GWMO re their placing a couple of weeks ago, also through Novum.
Novum survive on the back of discount AIM placings,check their accounts on Companies House, pitiful figures.
Scenario- Novum contact Craig saying they have 'investors' who are interested in providing the company with money and conditions are ripe for a placing. craig ums and ars, Novum talk him into it, they get their fee, the'investors' get the cheap shares and ECR get some cash. The shareholders get pain, possibly short term, but pain nontheless.
Because the placing was arranged through Novum our bucket shop broker who would have all there mates lined up to participate. This is a very poor show, if ECR need more money why wasn't this done when the price was in the high 3's, it was there for long enough? CB's lack of updates twinned with this is completely contemptuous of shareholders.
Andrew Neal on Twitter-
A complete over reaction as JV partner doesn't complete full drilling campaign & asks to extend period - so what, no big deal especially when they keep finding gold
Taken big wedge to trade back to previous range
I've done very nicely following this man.
I'm not sure what to make of this. Has the Prof played a blinder or shot himself in the foot. The talks with Demir have clearly been going on for a while and i suspect things are fairly advanced. If AAZ had of had an inkling wouldn't they have terminated earlier and informed the market rather than both companies issuing RNS at the same time? Seems like an agreement to restrict damage to both companies share prices.
I wouldn't be surprised to Demir or close associates buying shares in the market to furthur strengthen they're position.
Interesting times ahead. Any major weakness and i will be adding substantially.
amazing responsonse to a positive RNS. Seems to be the the way at the moment with both THR and RMM also with early momentum on positive news and the falling back. It seems one seller sparks a herd like panic. Strange but everyone to their own.
Morning Sanboy, I've E-mailed iii regarding the proxy form and highlighted the urgency,just awaiting a reply
CliffEdge. I sincerely hope your right, i'm holding 58m so i'm defo on the lanch pad.
As we sit around waiting for the much anticipated RNS i find myself wondering why anyone is selling as evidenced by todays trades. Surely if you've researched a company and had the confidnce to buy on perceived positive news then why the hell would you sell before said news and miss out on possible decent gains. I suppose its down to aversion to risk but i'd imagine anyone investing on AIM is aware its often high risk, high reward.
Hi Orion, thank-you very much for your knowledgable and interesting contribution, its appreciated.
As a matter of interest Re Gervaise Heddle have heard any rumours of where his next corporate stop may be?
Regards Greengrass