It does look wrong cash , didn't think about it at the time but you are right , a block listing does keep PI's in the dark . Those warrants should have paid for the new bungalow and the 8 ton excavator.
26,000,000 sounds a lot of warrants but probably less than the short X took out when they organised the fundraise, going to get interesting when people want to get back in for the newsflow and a short squeeze at the same time .
There is light at the end of the tunnel .
On average it seems that warrant holders look for at least a 50% return on their warrants so expect a nice run before they start churning them the 2.1 ones will soon churn through with the right news (32,190,748 ) @2.1 will be but a blip on the chart with a bit of volume. Those warrants at 3.7 don't seem too far distant now (+ 60% of course).
Less: Number of securities expired unexercised during the period: 3,412,699 ordinary shares in respect of the July 2018 warrants exercisable at 1.125 pence per share
Equals: Balance under scheme(s) not yet issued/allotted at end of period:
26,000,000 ordinary shares in respect of the April 2020 warrants exercisable at 1 pence per share 32,190,748 ordinary shares in respect of the July 2020 warrants exercisable at 2.1 pence per share 11,200,000 ordinary shares in respect of the July 2018 options exercisable at 1.125 pence per share
Just a quick look at Cashkings list, No. 7 done and still a lot of information to come on the cores. News Trapped In The Pipeline On All Fronts .. 1) Baileston 2) Cordillera Tiger 3) Creswick 4) Blue Moon 5) New Drill Rig Arrival 6)Licenses 7) Warrant Situation 8)Land Purchases Sealed 9) Rig @Spares Agent ? 10) Joint Ventures 11)Plus Additional Unexpected Rns’s
Those effing warrants have been a big drain on the sp , never understand why they always have to sell them straight away but that is down to the sweet talking broker that was employed to make sure the sp was trashed and to help them make a fortune.
However , when it ends the sp goes up , that is how it works .
To be honest Legalworl, I was thinking about it earlier (I do think sometimes), I have never seen any NED contribute anything to a company other than Adam and that in itself was a first time for him and a second quite quickly.
As for any other company they are just there for the numbers game it seems, I wouldn't know them from Adam (well I would because I have seen Adam but you get the gist ). Will Trevor be fronting the interviews relating to the geology in the future was the question in my mind but we will see.
As I understood it was/is to do the drilling and extra work on Creswick to turn it into a resource and open to offers on a JV for interested parties ideally with it being one in the the top ten. They have recently spoken of veins identified outside the DMS which is interesting and the focus has turned to soil sampling , Victoria being what it is it would be no surprise if they hit on another discovery within Creswick . Drilling focus has turned towards Bailieston and the owned Creswick property , all that seems to be holding them back other than the construction of the fence is the turnaround of the assays with some assay offices backed up by 000's mtrs and trying to get the done the situation won't improve as more drilling progresses in Victoria. Really the government should step in and support but we will see.
Bailieston has always been if nobody is interested we will got it alone , let's see what impact the new and incoming RC drill has on the bigger picture , RAB drill was for Creswick property first hundred metres .