Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
The Churn/ forward selling of the placing shares is well underway. Why couldn't the placing have been set at .07 say, the market would have dropped the price to there and those wishing to churn could have done so and still made there short term profit. Less shares would have needed to be issued for the 500k, thus less dilution and a smaller paper hit for the LTH.
The only people who can gain at the placing price are those who were invited to participate and who hold for the medium/long term. As i've stated before the company getting a few quid good, terms and execution of the placing appalling.
GTMO, as long as it gets to production i'm not going to worry about a little delay.
It sounds as if having been lucky with your call of a placing you are now thinking your a bit of an expert.
MR10, i am in a very similar position, i was hoping to start selling in June next year at around .30 pence. I now suspect i will struggle to do so. While i have no major issues with the company raising some cash i am shocked at the price it was done at. As i said yesterday the brokers are culpable, unfortunately when you deal with SP Angel and Noveum you are scrapping the bottom of the barrel.
Gmo, you were correct re the placing, you made a lucky guess, pretty much any small cap can raise at anytime. I wouldn't keep rubbing it in as you'll look like a prat.
Wow, i have no problem with the company raising cash but at this price its an absolute disgrace, If that is the best the cowboys at SP Angel can come up with then we need a new broker. It would also raise questions about how much SpreadEx knew re their recent selling.
The whole thing stinks.
GWMO placed on the 17th Jan, Spread Ex declared an interest of 280 million shares oh the 25 Th Jan so it seems reasonable to assume they took part in said placing.
To the best of my knowledge Spread Ex don't randomly hold a companys shares, its only when they need to cover a position. It's highly unlikely that any party would take a short position post placing once the price had dropped, so it seems feasible anyone taking a 280 million shares short position would have done so pre placing. That's a hell of a position to take on a hunch. So has someone with knowledge of the placing , ie insider information, taken the position? By the same reasoning its a massive risk for Spread Ex to take such a large short.
To me this smells and maybe the company need to be asking some questions.
Of course this might just be the ramblings of an old man,either way i'd like to know.
There has been steady selling over the last week or so which is baffling considering the encouraging news flow.
Why would you sell at these prices? I can think of three possible reasons-
1. Your skint and desperate.
2. Your barmy.
3. You either suspect or have knowledge of a potential fund raise.
Of course, if its 3 then that implies insider trading which as we all know doesn't happen on AIM.
Bang on OilAnylyst, Messers Swann and Hannigan are no mugs,neither are Demir so in my estimation things look pretty positive.
Obviously there are posters on here who are better informed( morning Death)and think differently.
Thanks Forzeb, it's always nice to see reasoned,intelligent analysis.
At 4.4 mill mkt cap it feels like a significant breakout is imminent, cant even get a quote to buy 200k.
I like this a lot. Potential future buyout?
Paloma is a large metal refining and commodity trading house, which owns its own refineries for gold and silver. Paloma's registered office is in Dubai, United Arab Emirates. Following the Subscription, Paloma will hold 400,000,000 Ordinary Shares, representing approximately 21.7 per cent. of the issued share capital of the Company as enlarged by the Subscription.
I'm no expert but my guess is selling by the impatient and hard of thinking.
Interesting that massive sell was timed before 10am yet they were still willing to take more, in fact i got a quote to sell 10 million but could only buy 500k which i did.
MM games, can't get a quote to buy 1 million but can sell 5 million no problem.
The number of shares in issue is immaterial, it's the market cap that matters and that is a mere 3.7 million quid.
There used to be someone on the GGP board, six or seven years ago ,continually talking that down,wasn't you was it Rise?
Indeed, the stepping down with immeadiate effect is extremeley concerning.
All the very best wishes to Paul and family.
Strange timing, surely much better to have waited till after the Molopo Farms results.
Good results he could walk away saying he had done what he could and was passing the baton to a more experienced person for the next leg of the journey.
Bad results, he could leave ,saying he had built up expections and under the circumstances felt the honourable course of action was to go.
Or , expecting this market reaction are the company getting this bad news out of the way in anticipation of positive news from Molopo that will then drive the share price higher.
It actually beggars belief that with the anticipated newsflow, anyone is actually selling shares here. All in my opinion of course.
Unfortunately i didn't hear anything in that interview that would tempt people to buy this share. No buyers and the odd seller equals falling share price. There are a good number of shares available that seem to have better short to medium term prospects. I am confident that eventually CGNR will come good its just the wait may be considerable.
The whole process is just far too slow, the prof has no chance of seeing any real return (other than a buyout) in whats left of his life, indeed i am 63 and not sure i will either. Anyway i've sold 67000 today (still well over 300k left) and bought another 10 millionGWMO at rock bottom price where at least things are happening.
Is it a good move, only time will tell.