RE: To directors buying in shares RNS17 Feb 2021 07:46
Has anyone worked out why this wasn’t traded on ASX during the last Oz business day (17th)? I read the RNS as it being suspended until the earlier of 17th or a deal being announced - well, the 17th trading day has passed in Oz but see no evidence of trading activity.
I don’t get the complete cynicism you guys have. I’m up 50% over the last couple of months and I’m expecting to bag it and get out. It seems a reasonable company now with potentially good returns if they expand production a little further. There appears a lot of history and you’ve lost a lot but many here will be new and making money and with a medium term exit plan of only a few months they should do well. As long as other investors see your comments in the context of not successfully setting a stop loss historically then they won’t be put off investing short term.
Things ticking along as expected; that’s what I take from the update. It’s still pretty early days for x518 and likely 3 years from market if all goes well. I’m staying with it though as there are many opportunities being followed. But don’t get over excited folks from this one rns.
Cant read the article but interesting that 98% voted for one of the three to join the board. At that level the main shareholders on the board already plus ceo can’t have objected. Implies they made an agreement in advance to keep the chairman in exchange for allowing the appointments to proceed.
I’m invested and personally pleased the fundraise was higher than my average. However there is something I don’t understand about the fundraise.
So a group of investors come to you, as ceo, and effectively say, give us 15% of company and we’ll give you 500k (so at current market value). It shows the investors have confidence in your strategy and business plan and that’s a good thing.
However, as ceo, you already have a business plan which didn’t include the need to have 500k right now. Your business plan is something you presumably also have confidence in and if it pans out then the share price will benefit; and when you do need more funding you’ll expect to raise it at a better price than is currently the case; and effectively raise 500k, if you need it, with lower dilution than 15%. So, as ceo, why would you have accepted this offer?
Oiler, buts it’s not a small amount relative to the market cap; also the warrants are at a 70% premium to the fundraise shares; and the fundraise shares were at the current market price. How’s that bad?
RE: Very Straightforward For Me Also ..07 Jan 2021 09:28
Well I followed DH’s comments at the time on RMS (sorry this is on this board). He called them out for ramping their product (which they didn’t have yet); he suspected in advance the ceo might be selling (which he was); then they released a rns stating only one of their three masks samples passed independent testing (which he correctly noted didn’t live up to the hype) so they changed their strategy to go 4-ply rather than 5-ply; then the share tanked and he openly said at about 1.4p they’d likely bounce to 2.5p before tanking again. So we’re about the 2.5p mark now after the bounce so it’ll be interesting what happens next.
One thing he didn’t do was cause the drop ; that was totally down to the company not having the viable product they were heavily promoting.
RE: Bailieston Drilling timetable?06 Jan 2021 23:00
The thing is, on 25th Nov in an interview Craig Brown said ‘ hoping to start drilling within a couple of weeks’ with the two weeks needed for minor safety paperwork. The link to the interview is on their Twitter feed on that date.
So maybe they started then or maybe they haven’t yet. But given he said that, it’s raising expectation and it’s reasonable one way or the other to have had an interview or rns after that two week period clarifying the situation.
RE: Very Straightforward For Me Also ..06 Jan 2021 22:46
Iknownuffin, what’s your gripe with DH ? I find him knowledgable and above all pretty level headed and pragmatic.... definitely I give his advice a stronger weighting than any others but as he says ‘trust no one’ so I’m not blindly following the advice.