RE: Interim results26 Sep 2019 12:31
We were also very pleased to receive further investment from our existing institutional shareholders and to attract additional UK and European institutional investment. This has increased the proportion of our Company held by funds to around 17%. While the placing price of 2p must have been very disappointing to our retail investors in particular, the £5 million raised combined with our existing reserves gives us the cash necessary to complete the DFS and EIA studies on Mina do Barroso and maintain activities on our other projects.
Yes, very disappointing and an apology for rinsing PI's would be in order. Time for the BOD to take a severe salary and bonuses haircut until they deliver tangible results that see the company ((Y)our company, as they say) actually brining in revenue and value for the long-suffering shareholders.
That RNS was a sop and sadly more jam tomorrow.