RE: Fact, there was a huge margin call27 Jun 2023 07:56
Worth putting thing's into perspective here. There is real value here now. FACT.
Prior to the bond conversion financing this was trading at 17p with roughly 340M shares.
Production continues to increase, thanks to some of the money from the financing being used to upgrade the GGS. Costs as per last weeks RNS also reduced by $1M.
Assuming ALL bonds were converted at this point we'd have between 1Bn to 1.2Bn shares in issue. So basically we would end up with roughly 2 times more shares than before the financing but, the SP has dropped by 6.5 times since it was announced. That is why I think this drop is seriously overdone now vs the extra shares likely to be in circulation by the time this is done.
If production increases unhindered as expected and if a JV now materialises then this is a screaming buy down here.