Member Info for John2015

Very true- @ 9.8p I could have sold with a ( very ) small loss.

I didn't and although I've spent a few hundred pounds to drop my average by about 30% now I'm doubting I will get that close to break even again.

You live and learn.

Still gobsmacked by the incredibly stupid actions of the board and the impact on the sp though.

CEO's don't put out RNS' saying they need to raise finance or do a placing before they actually do, dropping their SP from 6p to 1p.

Oh hold on a moment …………

Just seen the presentation which is basically this is what we have done so far, we want to drill Itumbula in in Jan 2024 but no mention of placing or finance ?

Did I miss something ?

No information about placing, finance or firm dates for anything ?

No news about placing it per finance sp unbelievably tanking even further ( yes my tongue is in my cheek ) - did we learn anything of any use today ?

Had to miss the second half of the AGM due to a meeting and just back in.

1.30p as the MM's seem determined to hold it there today.

We must all thank Lorna warmly.

10p ? Easy, watch them consolidate at 10 to 1.

So depressing.

300m shares would raise £4.2m @ 1.4p and dilute the sp by another 30% ?

Looks more and more like forward selling ?

No news is very bad news.

Raise Dec 22 and Sep 23 cash in hand 30Jun22 plus raise in Sep means the co had about £13 or £14m available H2 23.

It would be nice to know where the money went, why we need another raise and how much is needed. Meanwhile the SP plummets.

AGM Thu - over to you Lorna !

Skittish also the day of the Tai3 result RNS.

Looks like the company are up to something but they have not bothered to share which may be commercially necessary but is very unsettling for shareholders.

They need to have some serious explanations ready for the AGM Thu 14/12.

Placing RNS even not RBS I hate autocorrect!

Apologies placing RBS date should be 07/09/23

Cash in hand 30/06/23 £7.59m RNS 15/11/23

Placing Sept raised £6.8m RNS 15/11/23

Contingency funding required RNS 5/12/23

So the company spent or committed £7.59m plus £6.8m = £14.39m between 30/06 and 5/12 ?

Worth a question at the AGM ?

This is looking more and more like a placing to me.

I hope I'm wrong and we have a JV or Farm in/out arrangement agreed but the neat and tidy drop to 1.5 to 2p along with many large sells on the way look like forward selling.

What a sh*t show this is. The AGM ( and presumably news before it ) can't come quick enough.

The AGM is 1 week today.

They either post something, or announce it at the AGM, or they will be in for a very frank exchange of views in my opinion.

What happened to the £16.8m raised in Dec 2022 and Sep 2023. Where has it all gone - has it all gone, why do they need a raise, how much do they need ?

All very pertinent questions as everything they've done so far has trashed the sp.

We need to know why they need funding.

In the last 12 months they raised over £15m to fund both drills, £9m 12/22 £6.8m 9/23.

Where has that money gone ?

What was it spent on ?

Why do they need funding ?

How much do they need ?

What is the plan ?

The AGM should be a very lively meeting.

Dai if you use audited figs June RNS cash on hand at 30/06/23 $9.6m = £7.7m plus the £6.8m raise in Sep 23 gives a total of £14.5m apparently spent since June30 2023 which is an even faster burn rate ?

Dai I was quoting the Dec raise RNS £9.9m, interim RNS £11m @ 31/12/22 and the Sep raise £6.8m so I added the 2 together cash @ 31/12/22 £11m and Sep raise £6.8m = £17.8m.

Did I miss something ?

No I'm asking the company to explain what they spent £17.8m on which was raised to cover the cost of both the drills. It’s a reasonable request to ask them account for their expenditure

If they need to raise again it would be nice to know why ( and where that money has gone ).