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Slight apologies - the AAZ wording was fully permitted mine construction-ready and this deal is construction ready to BFS status with less cash to CGNR. So this is not quite as good a deal as the AAZ one. Be that as it may this JV values a 57% interest at £9m so the remaining 42% is worth 22p. That is not a bad lace to start from
It's a worse deal. AAZ deal was to take the project to "mine ready" status by giving away 55% equity. This deal gives away 57.5% of the equity and CGNR still has to pay 42.5% of the costs to get the project from "construction ready" to mine ready, or concede more equity. We get 1m now but there is no warrant revenue as was in the AAZ deal. Shabby that there was no comment on the AAZ deal - my guess is the Prof wanted to keep too much control for AAZ's liking. I also think there is still a great deal of value to be had, if Demir can deliver.
Looking at the IG i see a lot of share TILS people might invest in, like Open Orphan, Novacyt, Silence Therapeutics, Eurasia Mining etc etc
The charts say almost all technical indicators are neutral or negative. We are bouncing along support. But I sense a turn. I am very, very long
Hello everyone. My name is John Law and I am a Ramblerolic. I can't stop buying this. I don't want to stop. I don't need help, just 10 bags full please.
@ Badmashy. Basically the higher the regular volume of shares traded, the higher is the Exchange Market Size (EMS). It is not constantly revised so if volume and/or price suddenly increases as GDR did, the value of the EMS will be low compared to current trading volumes. If you trade through a normal stockbroker it is not particularly relevant as the EMS does not bind market makers in that situation. If you trade through, say, IG using Direct Market Access your order is placed directly on the exchange and MM's are bound to trade the EMS quantity at the price you see on level 2.
For SETS securities, EMS (was NMS ) is 1% of average daily turnover (ADT) of shares divided by the average share price for the period of ADT calculation (subject to an upper cap of around £25k and a lower cap of £2.5k). For SETSqx and SEAQ securities, EMS consists of 2% of ADT divided by the average share price for the period of ADT calculation. If you have Direct Market Access - the MM is obliged to deal up to EMS at the quoted price - if you go through a broker, they are not.
It will bounce back today
What about Columbus Energy Resources plc? Close to their last market cap and there is some stationery left over.
share cap = market cap