Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
I don't know what you lot are waffling about. This company and its board have been very, very dishonest with shareholders. We have a CEO who sat in an interview last year and lied about the washplant installation being nearly completed.
We had the AtoZ offtake which was clearly only signed to enable the company to raise the £7.5m because why on earth would you only want one customer (TransOre) instead of two, especially as this is Africa and nothing is ever simple. They supposedly spent months trying to get the TransOre offtake signed and now TransOre haven't even purchased any more of our coal? Did they purchase any to begin with?
We apparently made an initial sale in August but how much was sold, if any was indeed sold? No idea because the company and its board don't think we should know that. Its almost as if the initial sale was all a PR stunt to appease the market after they kept going on and on about making sales for a year. Again another example of this board being dishonest.
The company told us at the end of August that they were pleased to announce they had received final approvals for the export permit. Where did they tell us these final approvals were still outstanding? Does no one think that if the approvals are still outstanding they should have let the market know?
Now they're telling us "look look someone wants to buy our assets!" Just a pathetic attempt to distract shareholders and the market from their utter failure in selling coal. But unfortunately the market is not buying this nonsense anymore. It could be real, but I doubt it.
Until we received concrete numbers, either for sales or for a bid, then this is going no where any time soon.
Yeah you're right. Let's hope the mine is actually restarted and there's nothing out of left field that causes issues.
Don't know about that. These lot got the fund raising completely wrong, what else have they got wrong? Did the CLN at 2p, then did a placing at 2.4p. The CEO then sat in a PR interview telling us all:
"We try to make dilution as little as possible"
"We almost always raise at market price"
"Capital raises are done in a disciplined manner"
"We always try to raise at a higher share price to the previous placement"
"We don't think that is good for shareholders to get unnecessarily diluted"
And then they waited and waited and waited until the share price had fallen below 2p and then decided "yeah now is a good time to do a placing at a 24% discount".
Let's see what these lot actually achieve. Hopefully the share price does a LEX style rise and we hear less nonsense from the CEO.
They're going to have to raise again if they want to fund additional washplants in order to meet the alleged demand for their product. That's why they put out the info about the bid to try and get the SP up and that's why they've posted that post today on X, again to try and get the SP up. Unfortunately the market can see through the utter bull**** and their pathetic attempts to pull the wool over people's eyes. Hence the falling share price.
If something positive does come along and we see 7p,8p, even 10p+, then great, fanastic, hallelujah. But I just don't see it happening, not with the current board in place.
yet again it's bloody **** poor bull**** from this company. honestly one of the worst main market listed companies right now. real dishonesty from the board and zero consideration for shareholders. no wonder the share price keep falling when you have liars like carl esprey in charge.
Calling people idiots is not very nice or respectful is it InvestingGenius? (see the board for Contango Holdings for his posts calling me an idiot). But you don't worry Andy, we all see you fella 😉
What rumours? Back up your statement fella or stop spouting nonsense.
Sausage, it's even worse than that. LSE user and serial ramper InvestingGenius is one of those Twitter names 😆
I'll leave you to figure out which one!
God sake Earl. You've made 7 posts in just under 1 hour about the same topic. Take some time off and go outside and get some fresh air!
Ebbs, as a shareholder for nearly 3 years, I can assure you the lies, deceit and smoke and mirrors will all end soon, either because the company does something (e.g. sell the asset) or because I throw a hand grenade into their little sandbox.
There's a lot of stuff going on in the background which many are completely unaware of. Time will tell how this all ends.
Carl Esprey is a bulls******* c***. We all know this. However, Contango owns 70% of Monaf Investments, the miner operator. I'm sure the Zimbabwean stakeholders who own the other 30% and the Zimbabwe government want this mine to be successful. Surely they haven't spent all this money and effort building the mine just so the coal can be mined and idly sit there?
Unlikely. Given the RNS in early July which said the following:
"Given the additional capital requirements, which will enable a larger operation, as well as first sales now expected to be made in August 2023, the Company has raised £1.5M from a number of existing stakeholders through an unsecured and non-convertible bridging loan."
If they need cash they'll go back to these stakeholders.
RNSs cost money, I think about £20k for each RNS but happy to be corrected on that.
But yes they need to tell us what the bloody he'll is going on. You can't spend all this time, money and effort building a mine like this and then go dead silent. Where are first revenues? If you're going to create expectations about sales and revenues then meet those expectations or stop creating expectations and giving us deadlines / target dates. A bit of common sense wouldn't hurt FFS.
They've done the hard bit in building the mine but the easy part, communicating properly with shareholders, for some bizarre reason they struggle with this part. I think it's probably time for a new CEO who knows how to write RNSs!
Good luck with your short Sharesareus! 😁