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I think we will see another fund raise. A big reason why companies float is to raise money. AIM is in many ways a vehicle for this sole purpose.
If they don't raise this way then it has to be another. Why would they choose to increase debt if they don't have to.
The caveats to this are significant though. The last raise was a shock and killed the sp. The sp is so low now that, even if they could generate enough interest at 25p, the markets know that the sp will fall and be 15p in a matter of days. This begs the question as to whether a raise is viable.
It's a big question this and one that has to be well answered for the sp to move forward. The company will.move forward the sp is different.
I think the sp here is now driven by issues relating to financing the expansion plans (and the poor market conditions). The manufacturing issues are not that surprising and, we believe, are resolved.
Most likely bad news has slipped out ahead if the April statement.
I've been thinking for a while that the July 2023 figures might be the turning point and not the 22 figures and update in April.
The board have messed up the last six months, of that I'm sure. They've a decent, if not steady, history and I hope they can pull things in the right direction by mid year.
If they do have a leak it needs to be addressed sharpish as PI's aren't stupid and confidence is hard won and easily lost.
I agree with a lot of this.
In my view the RNS about the issues was unnecessary. We don't expect to be updated with every bit of news, good or bad, so the reasoning for this one was never clear.
SCE has become a leaky ship over the last year and some of the hard earned, and well deserved trust, the board held has dissipated for me as we've seen poorly thought out RNS's (such as the OEM 10 contract being shared with bad news), a ery low and unexpected raise and now a lack of news re the issues.
I'm not naive enough to expect molly coddled by the board but when there's a leak ahead of the last few RNS I think they need to be mindful of this and try to regain control of their news flow.
I'm assuming this recent drop is due to bad news coming and us l, as the small shareholders, being the last to know .
This type of leaking is common but we hadn't seen it before with SCE which allowed me to trust them and not second guess.
Shame as it's a fabulous homegrown manufacturing company with everything going for it. Theres loads of differways to communicate to you stakeholders outside of an RNS. they could do a directors chat online with someone, send a reassuring message and, as I said before, assert their control over the news.
Having had a look online at David and Monique Newlands I'm very pleased to see them take (or indeed increase) a significant position in BOR.
They appear to be active investors who appear to have held numerous senior positions in significant businesses over many years.
As has been noted countless times our board are seemingly passive, and in my view, don't fulfil their duties to shareholders in terms of communications.
Having active investors onboard, with a reasonable holding, has to help us. I would hope that they see the weakness of this management team as an opportunity for them to impose their view on how things should be done and affect some change. Perhaps this is a first step and perhaps they're part of an investor group already. Time will tell and I wish them luck.
It's a real shame for those of us invested here that the board haven't put any fresh money of their own in today; I wonder when they last did so?
This has all the hall marks of a pet project that is run at other peoples expense and with zero accountability or respect shown to holders. I think the board are lazy and are waiting for something to fall in their laps instead of them putting the energy needed behind it themselves.
The lack of any update on progress in today's announcement (a proper update needs it's own RNS but some guide that things are moving would have been appropriate) suggests that nothing has changed and no progress has been made.
Yet more costly studies and 'general' running costs. They are taking a good living from this, of that we can be sure.
The time taken to raise the funds is a worry, as is the fact that they had to change their brokers to get it off the ground. Delays over fund raises are deadly and the price they've ended up at is pathetic. Why not give existing shareholders the option of buying in at 1.75p?
I sincerely hope they get this away but my confidence ebbs as time passes.
https://www.edisongroup.com/publication/connection-under-demanding-conditions-2/30386/
I'm hoping for an entry price of around 12p but fear this may be a bit optimistic. I've been hovering around waiting for an entry point for a good six months but the bad news kept coming and then the SP went into freefall. Annoyingly I was probably going to take the plunge this week.
I reckon any price around this level is going to look like incredible value soon enough.
It's a clever product with an expanding market and we now know it's not going bust.
It's hard to see why one would buy now when we know a raise is coming. Unless a deal is struck, and made public, beforehand it surely makes sense to see what the placing price is (assumedly lower than now) and time your buying move with that knowledge to hand.
I understand that many holders have seen lots of placings and disagree with me about the impact of these on the SP but the dip we are seeing now is largely relating to this.
Post the raise I hope we can get some momentum going again and see some more money coming in.
POC - I'd respectfully disagree with you about them not knowing if they need money. I read their statement as being pretty sure about and you don't play around with words when it comes to raising finances, even more so when it's not long since the last time.
Going cap in hand for cash is the last solution for a business, it means that they have no other options available to them. Business financiers will not fund a pre-cash generative business, let alone an exploration company like ours.
The consequences of the announcement are bad for the SP and for wider investor confidence so you don't announce that you'll be doing it unless you really are.
We are currently taking the painful consequences of the "likely before the end of the year" raise announcement so to not go threw with it would be mad at this point.
Like everyone here I'm hoping for a mega deal but, if that is imminent why dilute their holdings between October and the end of the year. If they had any sense they'd be re-mortgaging their houses and doing everything they could to raise the money and keep as much as possible for themselves.
The SP is going to keep drifting ever downwards until they clarify what the raise price will be. It's amateur hour not stating the price at the time, or very close to, the announcement or a placing. They really should be better at this by now.
I was impressed with the cost cutting forecasts in particular in the presentation, it seems that they've got a really solid base to build from now. The remarks about no further funding being required were reassuring and felt real.
The OEM 8, Tesla slip up was good too.
Platoh - re the share holdings. It's good to see this balance as it keeps the main upside with the company, it's employees, directors and the invested stakeholders. It does leave a lot of room for dilution through fund raises but that's par for the course as the business is developed and can be a positive for existing holders when done properly.
There could be some drift until early September but I'd hope for a rise ahead of the 7th and then further SP strengthening upon good news.
Stating the obvious, and for reasons beyond just TRX's own fortunes, but we don't want to see hospitals overwhelmed with Covid cases this winter. If we can get to spring in good shape a lot of the recent obstacles will be behind us and the SP should reflect that.