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I don't understand why anyone is suggesting there will be a placing. Naheed stated in her last interview that fair value for ORCP is multiples high (to use her words: 10p).
There will need to be funding for the next phases of expansion but given the assets value, and once this is realised, we'll likely secure a debt structure rather than a placing. Unless the share prices is above what the company deems "fair value" and then they'll go to market for it.
To be clear - there will not be a placing anytime soon. Not this year or next, unless fair value is achieve. Onwards and upwards!
The next conversion will be at a lower level...it's been mentioned here before but £1.5m is a LOT of overhang - unless someone is going to drop that much quickly then we'll be off running
I've just looked back at the RNS's and the CLN notes is slightly concerning. there's at least 1-5-1.6m still to be converted...I think once this gets down to around £200-300k left the upside will be huge.
Time the bottom!!
I am confused as to why you think these loan notes are what's driving the price down? Conversion price of 3.9p means someone converting and selling is doing it at a loss which is a net benefit for the company. The Convertor would surely wait to convert these.
Now looking at the crypto market - that would certainly drive a bear market!! Mode need to respond to this with some transparency. There's no reason why they are not doing better - Ziglu has more coins then them and have been active for about as long. I have a Mode account but choose to hold my crypto elsewhere on the back of poor performance of the SP
You almost sound desperate for this to happen? Someone's broker portfolio not looking too good and you've gone fishing?
Completely agree with that - I recognise the point about dilution, however I think it's prudent when the level and timing it'll be done at are not currently in scope.
There are fully funded for current operations - confirmation of THAR (valued at over a billion dollars) yields a mcap of over £100m - min 10x from where we are - should the project be valued at 3bn then we're looking at £300m and 30x (close to 6p).
Plus the additional value from GH and gold which are definitely not priced in appropriately yet.
On that basis any funding, when it is needed, will be above 5p at a minimum - mentioning these words generally has a negative mindset so probably should be avoided.
Sorry but why do you think it's going to cause dilution. We have partnerships with BIG players. For THAR - we have a 13% share, the debt can be provided by one of the players rather than via dilution.
Naheed said the SP should be 10p...there's NO WAY she'll be going to market for money for less than fair value.
I think the big factor here will be what the next dividend price is going to be at. I don't think coal demand will fall, not for the next 6 months to cover winter. April will likely see the biggest drop as the globe warms.
Well that pump and dump was fun...wonder when the placing will arrive like it has done in the past ;-)
Completely agree - so glad I found this one. Although it has pained me that PK (going with this one instead) has taken so long, and continues to delay, giving out much needed funding. Whilst I understand that covid was a factor - the energy situation cannot be delayed meaning there should be some movement coming quickly.
I'm not a fan of the gold plan as it distracts from the focus but it would be great to see this divested for profit, or held until the right price can be sort.
I am fairly sure the plan is to go green...however it's pretty obvious this takes time so the short term is very very positive - hoping for an entry around £12 for a 2nd tranche as I missed the drop a couple of weeks back. Another £3 dividend will be quite nice!
Sorry...how did Crawshaw hold for 18 months when shares were listed on March 22 - via divestment by Anglo American?