We would love to hear your thoughts about our site and services, please take our survey here.
Thanks for posting .Usual boundless enthusiasm of James but this time over a wide range of topics including Ballet and not just diamonds. Quite clear that he sees Ghaghoo as a very rare and excellent opportunity but surely he cannot be blind to the failings of our current "partner"
So as I see it we are being asked to believe that having made an operating loss of some $4.2m for 12 months up to the end of April next year ,the following year will yield an operating profit approaching $35m. Quite an achievement for a Company currently capitalised at around £8m. If only we could have confidence that it will happen and also that alternative potential funders (if they exist) are likely to buy into the projections
So it was a placing after all.Decent amount raised and I think 1p is acceptable.Should provide a platform for sp growth over the forthcoming months and on this basis I have added more.No participation by the Directors this time and I wonder whether this is because they hold price sensitive information which prevents them from doing so.
For the last two months I have been anticipating a fund raise and the lack of it has led to a certain amount of head scratching on my part as to what to expect.Perhaps something is brewing which is rather more than a mere placing . With funds running short and commitments coming up I doubt whether we will have long to wait for news.
If the Directors and family friends intend to participate in the raise ,as has happened before, it is not in their personal interests for the raise to be at a high level.Perhaps it will occur at about 0.9 which is 50% above the level of the last raise but this is pure guesswork on my part
Yes it was a typical MB upbeat interview made easier for him by a soft interviewer. Even though I am a firm supporter of the Company I would have liked to have seen MB challenged by a few more demanding questions eg
1 You will be aware of shareholder dissatisfaction that the fundraise was at the very low level of 3.5 p.Can you explain why a raise at a higher level was not possible?
2 The rights issue was a failure.Does the fact that only £76,000 was raised mean that the shortfall will have to be raised by other means?
I suppose one possible defence to the charges laid against the bod is that the El was issued quicker than they expected and before they had in place all they needed in relation to the fundraise, which meant that there was a delay and faced with a falling sp they had to raise at a lower level than they hoped to do.Given that every previous step in this tortuous process seems to have taken months the issuance of the EL was relatively quick, albeit that it was supposed to be a formality.
It comes as no surprise that drilling cannot take place until next year but now they have the funds to do so and as the pandemic in Mongolia eases,I do wonder whether there is any possibility of getting the existing well in production this year. Does anyone with knowledge of these matters know what equipment is required and how long the process would take?
I think few would disagree that given the future prospects the sp level is somewhat disappointing.I wonder whether the problem is the likelihood of a further fundraise in the very near future.July was always the likely month although the £66000 raised by the warrants exercise will have helped. It's always disappointing that "ordinary" shareholders like me are never approached.I would have jumped at the chance to participate in the last raise at 60p with warrants as a bonus.Presumably the next raise will be on the same basis but at a higher level,perhaps 80p as the sp stands at present and this level might well suit the investors who will be approached and also any Directors intending to participate again.So although i have every intention of increasing my investment I am holding back at present in case the raise occurs before the next piece of sp enhancing news is announced and this could well be before the end of the month
Expected the next RNS to confirm agreement to the Plan of Development ,so the fact that we have already submitted the formal Application for the Licence and are working on it with the Ministry on it means we are further advanced than I thought.
So if he has no active role how did that come about.Was it his decision,that of other board members or shareholders or by mutual consent? Perception was that part of his role was to bring in Glencore perhaps as offtaker. Maybe they are on board now so we need him no more in that capacity.Maybe we don't want Glencore at all because there are better options. No doubt the fog will clear at some point but exactly when is anyone's guess.