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It's well within a company's power to decide when to raise equity and they should be targeting as high a price as possible so they get as much money in. For example, raising at 15p would mean an extra GBP350k through the door. More than enough to pay for another study. Unless of course there was pressure on the timing for some reason or from someone...
You really have to question the price and why it's at such a big discount to the current share price. If you're going to raise new capital at least do it at less than a 10% discount so your current shareholders don't get shafted
"Europa Metals is pleased to announce that it has raised £2,000,000 via the issue of 15,686,274 new ordinary shares at an issue price of 12.75 pence per share to certain existing and new investors."
The Fundraising is conditional on admission of the Fundraising Shares to trading on AIM and will represent approximately 31.9 per cent. of the Company's enlarged issued share capital.
The Issue Price represents a discount of approximately 22.7 per cent. to the closing mid-market price of an Ordinary Share on AIM of 16.50 pence on 18 August 2020, being the last business day prior to the date of this announcement.
The Company is pleased to announce that both Laurence Read, CEO, and Myles Campion, Executive Chairman, have participated in the Fundraising by way of subscriptions for 78,431 new Ordinary Shares and 78,431 new Ordinary Shares at the Issue Price respectively.
I wouldn't say that derogatory comments are the way to welcome someone to a message board. I meant I'm not an expert on the way market makers are operating. Anyhow, each to their own and good luck to you and your personal pursuit to defend Bushveld. I won't ask questions in future
@Alfa potentially it could be but after monitoring and analysing the trades over the past few weeks surely that would amount to some form on manipulation of the share price by MM's? There has been no real news in that time and yet like clockwork as soon as the price rises the 100k sells come out. The price then drops and of course more buys come in at lower prices. I'm not expert on this but it seems to be a recurring theme on Bushveld which makes me very cautious
Are you guys looking at the same trade data as me? Out of around 3 million shares traded, there have been at least 5, 100k+ sales, amounting to around 1 million shares. What part of that proves that there are no sellers?
BMN opened a bit higher and there were quite a few buys going through but very quickly the 100k sales reappeared. I've said it before and I'll say it again, as soon as the price even slightly rises on this, the 100k sales come out.
I guess you could look at the forecasts and try to predict when a dividend may be appropriate based on this:
'The Board approved a dividend policy based on a free cash flow pay-out ratio, reflecting Bushveld Minerals’ commitment to return cash to shareholders in a sustainable manner while prioritising its stated growth strategy' From the latest annual accounts
Alfa just FYI an 80 MW lithium ion battery storage system would cost £40 million to build in the UK. Can Bushveld compete with this? Is the tender fit enough for a Tesla or BYD or Samsung just to come in and sweep away the Bushveld? How is the tender being judged and what is the criteria for winning? Do you need a significant track record of deployment for example?
Looking at the trading history today it looks as if over 1 million shares have been unloaded - it almost feels like an institutional investor getting out with those quantities. Quite big impact on the share price too
Do we think the exercise of warrants at 9p has significance here?
Is something on the cards or were they just expiring?