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Sorry but real world 2 points;
-a large proportion of that cash would have been immediately spent to clear the creditors. You don't do a discounted raise like this for it to sit in the bank... it's because you have HMRC and suppliers hounding you.
-anyone who believed this was worth £10 with 3billion shares in issue needs to see a doctor.
I hope for the LTH this does spike to 10x so some can extract some of their cash back.
But this gamble is down 70% in a month, 90% in a year, 95% in 5 years and 99.77% since inception.
If you think it's a no brainer I have a bridge to sell you! Needs financing news before Jan next year. That's your bet.
Ha the twitter loons will be back in a week trying to suck in punters with tall tales of railways, gold, iron ore or whatever other nonsense. All while not being able to read a cashflow statement.
Which unless they reduce costs infers another raise in Jan or so.
They can't borrow 350k as in the real world they don't have a "coal asset worth billions" or whatever tosh to borrow against.
Discount was at 50% with warrants as that is where the broker found the market to fill 350k less costs. Nothing more nothing less.
Can't say you weren't warned based on the cashflow and the need for a re+org.
If you ignore the capital adjustment this is a 50% discount raise 0.035.
Surprised tbh they needed to do warrants on top so you have another seller locked in at 0.07.
You got inside info on the DFS? The market is down as there was no info given whatsoever other than we paid X to do a report and it exists. Shock horror didn't move the needle. Then the cash balance did negative by 20% as people assume there's a consolidation and raise before November.. although tbf this was obvious from last cashflow statement in the stats, it's not a conspiracy just basic maths and lack of faith in a company with nothing but empty promises for a decade not releasing any info.
Total equity raised is the value on the balance sheet of share nominal + share premium. So of memory raises since balance sheet date 31/12/22 plus the published balance sheet, £22m or so.
Yes you can't issue shares for less than the nominal value. It's boring company law slash accountancy. So you need to do a consolidation before or at the same time of the raise. So instead of owning 100 0.1p shares valued at 0.08p you own 10 0.1p shares which in theory should trade at 10x the price i.e. 0.8p, which then can, the day after be subject to a raise at 0.7/0.6p etc whatever the discount to market is.
Given there are multiple billions of shares in existence a 10 or 100 to 1 consolidation wouldn't be the strangest thing in the world to happen.
"and finalisation of the investment and lender consortium."
That's the key. At this stage nobody gives two hoots about the rest. Who is funding this and on what terms. Another MOU is just a joke after a decade or more. What's the timeframe on financing? This year? Next year? When?
Would allow people to price the risk without that it's just betting for anyone.
It's been obvious for a while now that the only thing that will cause a re-rate is a binding finance deal to do something. After a decade another MOU becomes another joke and for a FS to have meaning... it actually needs to disclose if a project is feasible... and at what level. Not rocket science.
Hopefully there something in the background coming through before the next raise. I wouldn't bet on any sale of a coal asset; as in it's present form it's not owned by ORCP. As lignite it's only value is with a power station on site. Not power station no value. So someone needs to build it and have an agreement in place for the state to buy the electric
Seems to be flat, do we know of any Wilko exposure?
That march placing was for a lease.
Looking at cashflow from last available accounts will need to obtain more cash in Nov or Dec. Unless cash needed for (larger scale investment) before. Tbh you want the later, a much larger one to do something not just another 200/300k to keep the lights on
It's not a single trade it's a specific auction fill.
On the MTF it's unlikely that anyone bothers to put a live run in to be hit i.e. on Tesco multiple people will post a live passive i.e. price maker price. On something like this you need to start an auction, i.e. request a price for buy/selling 5,000,000 the auction will then be open for x seconds where the MM say what the bid/offer is. The system will first match off that 5,000,000 best execution, but it then goes back and puts through any other fill where the MM have crossed the spread. On something at a fraction of a penny these can be tiny amounts.
When you click buy/sell ORCP you are effectively being charged a spread for the risk in the process (hence in % terms it's huge in something as tint as this) but don't see it.
bit rich calling people impatient after a decade of jam tommorow and mou soup.
see article from 2016 for example. https://www.proactiveinvestors.co.uk/companies/news/123862/oracle-coalfields-plc-assembling-the-jigsaw-for-****stan-project-123862.html
Cheers. So a new railway hasn't been built as claimed. It's proposed.... And given its lignite coal so needs to be burned on site given lack of thermal value is somewhat irrelevant anyway.
They need to actually do SOMETHING. Yes those 4 actual, real life, on the payroll they exist, employees need to do something and it's not digging a mine or building a railway. It's you know... getting some actual financing over the line after a decade... So dreams can move towards reality
So just to confirm you are stating there is a new as in someone has laid actual km of new track to oracle's asset........ Cough .....
And yes I well aware it's not the 4 as per the last set of financials oracle employees.
Lol what rail line? Have the 4 employees of ORCP being digging like marvel super heroes.
It's a passenger service along an existing a rail line that was suspended for covid now being reinstated. There's no new track just nonsense. The bigger issue is its lignite coal so transporting it pointless anyway, you need to burn it at site as economic and thermal value doesn't work if transported.
It's always been "minimal risk" from here until the next raise to pay salaries.
Timing is key..it's a good asset, but at what point is dilution no longer required to keep the lights on. It's been a decade.
Accept the price dropped which means the opposite.
The buys v sells, on these sites is irrelevant with a spread this wide. It's just a random guess.
The MM won't hold stock on something this small so will just adjust on the demand.
Former broker.