The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
another share I was in a few years back (wrn). Similar to this, they promised the world, then said "news shortly" & then went bust.
Similarly FG saying best case expecting 10mil, news in "next few days" & been over a week now.
I hope it doesn't but not looking good for us lths.
Steve, you must have been the goalkeeper in the "match" or the defender may be.
You say
"I have been to Italy, I tried to bid for the Land"
You've mentioned about going to see the land before, but I did not know & neither have you mentioned that you tried to bid for the land.
That's interesting.
Jealous, please. You win some.... You loose some. And you only loose when you sell out. I'm still in, so no sweat.
What's gets me is your 2 face backstabbing. Your pretending to help but at the same time manipulating.
You say in your 9.51 post
"Trust is something that not many are good at especially on B.B."
Where was the trust when you planned & carried out your back stabbing in the "football match"?
Manipulating the stock in your gang at the time mis informing the BB.
You posting that you've sold some will no doubt tempt others to sell, you get your 10-20% & then you repurchase these at 0.2 again. Your just a trader & game player like others in this stock pretending to be the saviour of the PI'S.
RKB, So you sold some of your free shares at about 0.2 which you claim you have millions of at a profit? How is that possible when i think you claim to have purchased these at 0.8-1.0 area. I smell bs again. Your research is second to non & the likes of me appreciate it. But stop chatting bubbles about your trades & not wanting to crash the sp etc.
#XSG 257mln shares November 2019
*market cap £2.7mln at 0.90p
*cash at end of Sept 2019 £2.4mln
* looking to raise £7mln via
A) 1p placing (500mln shares ) of which 270mln shares going to two of the II listed below
B) an open offer (199mln shares)
On Nov 18th it was shown that there was 10% open offer shares taken so that means c 175mln shares will be cancelled
19 pages PDF circular on XSG webite has a few main points~ ( points 1-3 below)
1 ) Finncap has CLOSED the book build at set price of 1pence ( see 4.5 on page 10)
2 ) Finncap acting as sole broker for the placing and has conducted the book build
3 ) IPO group (20% currently) and Entrepreneur Fund ( 7% currently) plus managment are supporting the placing and are "related parties ". It is unclear at this stage who else is in the Finncap book build.
4) Clearly appears to some to be a cynical attempt for underwater funds who are in at 10p (November 2018) and £2.25p( Nov 2015 ) to get cheap stock and 3 directors who held 500k or NIL now get 5mln shares each.
5 ) They are exiting cash hungry direct operations and moving to licencing model = staff cuts from 148 in 2018 (£9.7mln in staffing costs!! ) to 60 by end of 2019 so should save over £5mln. Cash burn from Oct 2019 will be down to below £0.6mln down from c£1.5mln per month. Key markets already signed up are the 2 largest users of water, India and China .
6 ) Because the fund raise was signalled 3mths ago at 8p+ the City have been able imho to short knowing they can close in a placing.
19th November GM
Shareholders as of October 2019
• Blackrock 20% (they took 20% from woodford in October when Woodford went 33% to 13%) = 51.4mln and prob sold 7th Nov 2019- Link solutions holdings RNS 15th Nov from a trade on 7th Nov which matches the large trades on 7th
• IP group 17.5% = 44.975mln (supporting fund raise and taking 65mln out of the 500mln new shares)
• Woodford 13.2.% = 33.92mln (now controlled by another II or sold into the market?)
• Invesco 8.2% = 21.074mln (Woodford used to work for them and imho sold their £190k at 0.9p on 1st Nov)
• Entrepreneur Fund 7% =19mln (supporting the fund raise) and are taking a huge 205mln out of 500mln)
• Jupiter 6.5% ( July 2019 from 0% to 6.5%) = 16.7mln ( prob sold Friday 8th Nov)
Jonny, care to share the email you sent to FG?
Postponement of First Hearing of Sipiem SpA Claim
The Company announces that it has received notification from its Italian advisers that the first hearing in relation to the legal action against the former directors of Sipiem SpA (“Sipiem”) in the Venice court has been postponed from its original date of 6 November 2019 and is now expected to be held in early February 2020. The reason for the postponement is due to the court having a large back-log of cases still to be heard before the Sipiem case.
Finally. Buckle up.
The Company is pleased to announce that it has entered into a new unsecured loan facility agreement (the “New Facility") with Eufingest SA (“Eufingest”).
Under the New Facility, Eufingest will provide €150,000 and £30,000 at an interest rate of 2.5 per cent per annum repayable on 31 December 2019. The proceeds of the Facility will be used for working capital purposes.
Eufingest has also agreed to extend the repayment of the €250,000 Loan Note Facility announced on 30 July 2019 (the “July Facility”) to 31 December 2019. The loan was originally due to be repaid on 30 September 2019.
As of today, debt outstanding from Eufingest amounts to €3,740,000, inclusive of €87,000 accrued interest.
Eufingest is a substantial shareholder of the Company as defined by the AIM Rules for Companies holding approximately 13% of the Company’s ordinary issued share capital. The provision of the New Facility and the extension of the repayment date of the July Facility are related party transactions pursuant to AIM Rule 13 of the AIM Rules for Companies. The directors of Clear Leisure, (both of whom are independent of Eufingest), having consulted with its nominated adviser, consider that the transactions are fair and reasonable insofar as its shareholders are concerned.
Missed your post RKB, no doubt some more manure spouting from you. I am not in bou, did a day trade as I new anything you pump will be dumped pretty quick.
He did the same on BOU. He pumped it.... even advertising what a great opportunity that was, and then dumped as soon as the price started to rise. Leaving gullible pi's holding the baby.
This is well depressing. Fall after fall every day. No dought RKB will continue to spout to keep us suckers in. Cant believe I fell for his crap.
Says it all:
from todays rns:
"Existing shareholders are therefore expected to be significantly diluted as part of the recapitalisation"
Griffin Mining Limited ("Griffin" or the "Company") is extraordinarily pleased to announce, after an extended application process, that the Chinese Ministry of Natural Resources ("MNR") has accepted the lodgement by Griffin's Chinese subsidiary, Hebei HuaAo Mining Industry Co Ltd, of its mining licence application ("MLA") for Zone II at the Caijiaying Mine in compliance with all the prescribed Chinese legislation and regulations. Under the current legislation, the MNR should provide its approval and issuance of the new mining licence within 40 days of today's lodgment date (with a 10 day extension to that period in certain special situations), thereby acknowledging the MLA has met all the required conditions and passed the final examination and issuance process.
The Company's Chairman Mr. Mladen Ninkov commented, "It is with a great sense of joy and relief to be able to announce that our MLA has been accepted and is in compliance with regulatory provisions. It is a particularly momentous day for our loyal shareholders who have patiently waited for this moment since we began the MLA process in 2013. During this period we have experienced repeated changes of Government legislation which has led to complex processes to redraft and re-start the MLA process on numerous occasions. I do not have to explain what this means for the Company and our shareholders. I couldn't be happier for everyone involved with the Company including the shareholders, directors, management, staff, contractors, local villagers and all those whose lives are touched by the operations."