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Ghia, last time around I had almost given up. I believed in my head that part of the drop to low 30's was because bad news was on it's way and had leaked out. The rest is history. This time around i have made a decision to see this through to the next stage at least. I am relaxed and of the opinion that this company seems watertight as far as news leaking out. So any drops are not concerning me, we've been here before but from 36p not £ 2 that is the bonus for anyone holding before July 20th. I do believe it will be positive news, as any bad news imo would have been out well before now. Not long to way to wait now. GL
Farquar, i thought it was more likely to be some kind of transfer. The amounts either side of the 1.5 million transaction add up to exactly 1.5 million. Also the exact amounts of the 12p warrants exercised so far is 2,926,436.
Hodgefox, thanks for sharing your information re Zaranou. The same as the research you did on Chad and then Ghana, it is appreciated. To be honest the same with those, they created excitement and gave hope, only to keep coming back to square one.
I don't doubt for one minute some of us are more frustrated than others, and this board is a good place to vent those frustrations.
I will leave it there now for a few weeks and see where we are then.
thanks again Hodgefox and Bozi for your contributions.
Bozi, totally disagree with your last but one paragraph re responsibility etc.
I'm not going into full detail now as i have to go out, but I will do over the weekend.
I think as far as patience goes this company has more than it's fair share of up to now patient shareholders, who in my opinion have been very patient considering the share price now is much the same as it was over 4 years ago !
Of course it is our own decision when to buy and at what price. But surely part of that decision is heavily influenced by the constant bullishness of the CEO. Quite a few occasions he has trumpeted the company makers, told us how the sp is massively undervalued, once at 28.75p, raised money at a then 5p premium to the share price of 30p. Are you saying we should ignore whatever the CEO says or promotes ? One thing you can never accuse Vincent of is not being ultra bullish, to me he was the main reason i bought.
So on that basis you can well understand why some shareholders are getting 'worked up' about short term price, even though it's not short term is it ? it's been on a downward spiral last couple of years.
Again Bozi i can't dispute what you are saying.
I thought that on the Lithium alone, but that's not to be at the moment.
i thought that on Chad also, but again not too sure where that is actually up to or going.
So we now are hoping Zaranou will be the 'company maker' let's see.
But has you rightly pointed out earlier 'this is the stock market, there's no guarantee it's going to listen.
In my opinion the small free float was supposed to be a good thing, but up to now it always seems to work against us, as any small selling seems to cause an overreaction to the SP. Also lack of interest. What other reasons caused this to be 7p! or £ 30 million mcap.
True Bozi.
As one of the posters on here who took part in the placing told me 'everyone has their selling price'
At the moment these warrants like it or not are taking away those options for anyone who may or may not want to sell.
Me personally, i had high hopes for well over a £ 1 here at one time. Not too sure now if that would be achievable because at the time there was nearly half as many shares then as there are now if you add on the warrants to possibly come.
I am still prepared to wait for the JORC then take it from there. seems the sensible option however frustrating this continues to be from a share price perspective.
Well there's another one !
The fact is out of the 67 million shares raised 17 million went to Assore, Vince, Herbert and other existing shaeeholders. The other 50 million went to who knows who. Therefore there are 25 million warrants attached to those that none of us really know if and when they will be exercised. Would it be right to second guess that the company didn't expect the Sp to be trading at 16p so soon from the raise at 7p ?
Also the point about getting worked up about short term share price depends on each individuals plans on whether or not they want to continue to hold and at what price they want to get out. Therefore this can be seen has an annoyance for a lot of holders who have higher averages than today. just a thought.
Bozi, i take on board your points.
I suppose the nearer the SP gets to 12p, the less likely that some more holders with 'loose hands' will elect to exercise their warrants.
As you know it doesn't take much trading either way to shift this. This week being a prime example, not a massive amount of selling, but enough to knock us back down here again.
Referring back to my post last night, i would like one of the more experienced on here if possible to educate me on what are the main differences between Zaranou and Chad, from a prospect point of view. Thanks.
Agree with you both. But you’re right earthling, just never seems to keep the momentum. A lot of selling here this week. Also a lot more shares in free float these days with a lot more to come, if they call on these 33 million warrants, plus Geodrill now have a few million.
You’re also right about Ghana, waited over a year for the much vaunted JORC, then dropped away again after that, all the way down to 7p.
The thing which keeps bothering me is I heard all the same noises when Chad was the flavour of the month. What was it Vince said ‘Dorothea just keeps on giving ‘ What happened to it and what about the talks with the Chad government that Vince alluded to months ago.
I don’t profess to understand the gold mining industry to where I can compare mine one to another, so I would like to ask any of the guys on here who understand a lot more than me, what exactly is the difference between Zaranou and Chad. Because it isn’t that long ago Chad was being touted as the best thing since sliced bread.
Christopher good luck. I can understand your sentiments. I once had £ 215k in a company and sold out at break even, within 2 years they would have been worth £ 875k so i know the feeling!
Despite the continuous positive news, it still has a feeling of deja vu sp wise doesn't it. As i have repeatedly said on here the main winners are the ones who got in at 7p. Especially the people who took part in the placing and can now buy another 50% of their original purchase at 12p, which some have already done. Maybe the Jorc next year will be the catalyst, but i pinned my hopes on the Lithium Jorc back in February and look how that ended up !
EyesRight, another question if i may. The fund raise RNS in May states, if the SP is above 16p for 5 consecutive days, then the company has the right to call in the full amount of those warrants (33 million plus.) Does this also mean that the warrant holder has exactly the same right as in he/she can purchase the warrants themselves at the 12p instead of waiting for the company to enforce their right. Thanks.
yeah fair enough, i understand. Do you think there is a real possibility they could do this soon whilst the opportunity is there, or is it more likely they would not want to do this so soon after the raise. At the end of the day it would be around 8% dilution on top of the May raise which if memory serves was over 18% dilution (i think.)
The Fund raising Rns on 11th of May states that if the share price is above 16p for 5 consecutive days, then the company can call on over 33 million warrants at 12p. Because today's rns refers to that rns on 11th May and today's exercise price was at 12p i took that to be a part of the 33 plus million rightly or wrongly.
it's not a placing as such, but there are over 33 million warrants that after yesterday, which was i think the 5th consecutive day of the sp being over 16p, that these can now be cashed in. I have covered this a couple of times on here, but nobody seemed to want to discuss it. whoever took part in the recent placing can now take an additional 50% of the shares they bought at 12p. so the this morning we have the first notification, interesting to see how many follow.
I would like to ask you a few questions if i may in relation to the fund raise you took part in.
I don't know if i have understood this correctly or my interpretation is either correct or incorrect.
Reading the terms of the fund raise if the price stays at 16p for 5 consecutive days the company can call on the warrants to be exercised, 33,928,786 shares at 12p which gives them another £ 4 million plus with another 8.37% dilution.
Calculating what you told us you bought here, potentially you personally would have to buy another 1,428,571 shares at 12p which is £ 171k.
Could you tell me would it be normal for a company to do this so soon after a raise, also if they did choose to take up the option now, does it have to be all the shares or can they approach individuals to see if they would be willing to do this now. is it 33 plus million shares or nothing.
obviously it is your business, but seeing as you openly reveal how much/many you bought, i am just interested to find out if what i interpret is correct.
Good day, but in regards to your question, in reality you would hope it will keep on rising. But whilst there are many holders sat with higher averages than today’s price who will more than likely hold as we/they have done these past years, there are also quite a few people who took part in the 7p placing who are already into big profits, depends when they sell and what amounts, because previous low volumes here has had an adverse effect on any selling.
There is also Geodrill sat with a good few million shares who are now in profit. Who knows when they will decide to cash a few in.
There is also over 33 million fundraise warrants that could in theory be called upon next week if the price stays above 16p. Be interesting to see what happens there.
So whilst at long last there is hope for some of us long term sufferers there could be some volatility when the cashing in begins.
Anyway on a brighter note for me personally I decided against buying more here a few months ago and instead bought Synairgen at 42p now at £ 2.02 happy days and means I am not desperate to sell any here.
No disrespect but that’s easy for you to say sat with 200ks worth at 7p along with the other favoured who took part in that placing. Great news today but we all have our price including you.