Member Info for Ilovesushi

It is hard to say exactly. It looks like they could be planning a raise at some point yes. Yet the RNS it is about removing

pre-emption rights. So it wants to remove those right (preference to certain investors or shareholder to buy first. The words used here is "potential". So it may not raise. I assume they use the term potential to soften any worries shareholders such as yourself may have that there will be a placing.

It looks like the company is giving themselves options to do a raise. Not sure why there is removal of pre-emption rights and why they see it as necessary. Cleaning things up looks like for a raise should they need one. But why removing those pre-exemption rights? Not sure.

Most companies apply for authority to issue new shares in the general meetings. Not here but also it states vaguely that the company many issue other pre-emption rights. Looks just like it is cleaning up some legal requirements to me. Nothing to worry about. But at the same time at some point in time they could also do a placing.

The vote is certainly going to go through. Placing or not? I do not know.

We should be getting some update or possible partnership news on our new breakthrough shortly.

I think when 40 pence is gone, this could continue, and any hint of a price for the company then its double bagging time. In it to win. IT

Its looking more and more likely that the management may entertain an offer for the whole group. I thought 75 pence would be good for me, but its possible we could go to the £1.00 area as the whole sector is now on the up. STRONG BUY FOR TAKE-OVER NEWS.

Up 7% and climbing. Poor shorters why oh why did they increase? Bad move by them.

GOING HIGHER GUYS.

Good luck all. Perhaps £1.00 soon enough. Could be anyday.

In it to win it.

DOWN 16% only

Share price has held up well. I would not have minded a large fall and could have bought a large stake. Not at this level. Shame.

Shame the company cannot utilise all the $25,000,000 for development but use the majority for just buying out an unwilling partner. Gets the project up and running but lots of cash is just to buy out Glen. The money remaining will last 1 year. So another discounted placing next year to look forward to.

Can buy live 8.9 }

Held up well

Long auction

Better they are out as they were holding this back. They did not want to invest in the project. Iron ore prices are depressed and there is too much Iron ore around.

8.0 pence AUCTION

Down 29% on level 2

Greymont Bay would have a 28.8% share of the company.

From one hand to another. Glen was always holding this back so better to have new people in. The trouble is the whole Iron ore sector is troubled with China depressed economy.

15 million of the gross proceeds will be used to repurchase, Glencore's 43% share. The remaining monies will be used over the next year for working capital.

The money remaining will not last more than a year and more placings will be expected. Discounted placings no doubt.

Share price to fall but by how much and how close to the 4.1 placing?

If the price is 4 pence and the share price is 7 there will be sellers obviously who makes instant profits.

4.1 placing with big discount so shares will fall but by how much?

Could drop to placing price 4.0 pence

Why would Glen sell their stake at half the price?

Its not going to be plain sailing and the company will need more cash than this to get this going. So more placings.

Glencore would not have sold out had they seen any prospects. Probably any income would be in here eyes 10 - 20 years away. These things need 10s of billions to get off the ground. Glen was never going to see it through. They do not do GreenField stuff.