The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
5p placing!
What a surprise, with 200k cash balance there was no doubt a fund raise was required. All was needed was simple maths calculation. @shan90, instead of making money by providing false information try next time using simple common sense.
You can make money the honest way...just try it once!
Despite the good news, ASX close at 5.55c, which is 3.10p. It’s all due to placing uncertainty, hence company is required to do it ASAP to clear it.
Use common sense instead of waffling around.
Thanks for the clarification and what is your conclusion then on cash balance ?
Seems a lot of waffling instead of factual data.
@boblondon - the numbers speak for themselves... low cash balance... If I am wrong then let me know how.
there is no market abuse using actual data from RNS and quaterly report to derive calculations.
I very much doubt a CEO will confirm he has low cash balance to a pi.
I would have expected you to carry some calculations and provide a healthy debate.
@shan90 Then can you give a breakdown based on their rns and quaterly report of their current cash balance if you do not agree to 200k left ?
Should be quite straighforward.
Ok then you agree their current cash balance is around 200k ahead of drill. We have around 4-5 weeks or so until drill if all is done on time. If you were a CEO would you raise closer to spud or earlier ?
@shan90, if the cash balance in July is £5.8M and the drilling cost is around £4M plus the bond cost and acquisition (£1M ) then how is it possible they have paid "most of the drill cost" ?
If I am missing something can you do a breakdown using their RNS and quaterly report?
No doubt the opportunity is huge (min 40p) but you have to admit the current balance is low.
Based on your calculation what will be the current cash balance after paying full drill plus running cost ( bond will be paid later on) Take into account the oct quarterly 26th oct report of running cost.
I mentioned it is It acquisition to great bear ( £300k) plus bond (£780k ) approx £1M.
I’ve just reconfirmed the numbers, company cash was around £5.8m in July, and considering drill cost of £4.1m, acquisition & Alaska bond £1m, leaving the cash balance of £700k and then £300-400k cash burn since July, leaving latest cash balance of only £200-300k. On that scenario, company will likely to raise cash and also some funds will be required in case any drill issue came like AAOG. I’m heavily in RMP, but want to be on balance side.
These nbrs are from official rns.
Had a look myself and seems they will be left with 200k after drill fully paid...will they go into drill with this amount ?
Do not shoot! am heavily invested.
Anyone here heard of cash shortage ? some dude on twitter posted calculation showing a cash balance of £200,000 pre drill, seems awfully low.
is it right?
@raaga IMTK has potential and surely will increase as QPE plans unfolds but stating 30s sounds like a full blown ramping...wait for the results and QPE target before throwing numbers around... borderline of excitement to ramping....
@Guess - thats incorrect stop deramping this share! reply from RT @Luckbreak37 it is a legal requirement in the UK to RNS every time a investor goes over a percentage point move over 3% unless you move over or below multi % points in one trading day then you still get a single RNS covering it
Im out the asx is also sinking...
you may be right since the hype on UK has now passed the 130% mark...lets wait and see...
Any reasons? on ASX hit 80% within an hour of trading...
I see 15 at least.... no way it will remain in single digit....Can not top up even at 8..... arhhh