focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
About the action of new investors that I mentioned in another post. Let me say this. I believe (my opinion) that the reason for optimism and a positive reaction was the timing of the money raise. This was the key. If we assume that this may not be the last raise…as we have a burn rate equal to the money raise, then the job of the BOD is to keep the money flowing as best you can. To schedule the money raise before the AGM was all that smart investors needed to see. Positive results at the AGM and everyone is happy and the investors may come back if asked in the future. Negative results just a week or so after a money raise…and it could be disaster for the future. Smart investors would think this through…and conclude (without any more than this), that the BOD has selected this date for that reason…to keep the investors happy and path to future fundraising open. So, putting 2+2 together…..the numbers should be up-without being told. I guess we will see shortly. This is my reading the tea leaves and, I thought how the investors saw the situation as well.
So, lets think about this a bit. You are putting 10 million into the company at historically low entry price. And, you are putting the funds in BEFORE the AGM where recent results will be made public. Seems to me that these investors know that the numbers are going to be good and their shares will quickly see a nice pop in value. If you did NOT know the numbers or they would not be so good, you'd invest AFTER the AGM when the shares would be even lower (if you would invest at all). Unless I'm reading the tea leaves wrong, my bet is that we are going to be reading positive news in a few weeks.
Good day all:
How many folks out there believe that investors put 10 million of new money that could have either stayed in the bank or gone elsewhere into OBD without doing their DD; without being comfortable with management; their plan and, most importantly that the products that they are trying to sell--are indeed selling? If the sky is falling; management are crap and all they are doing is collecting paychecks--these investors would have left the company to its current shareholders. I mentioned two weeks ago..watch for the money raise (at any price) and if they are successful....we have a chance. If folks are right that you should always follow the money..well, 10 million just went in. For what its worth, I say lets see what sales are reported at the AGM..but I would not be surprised if sales numbers are going to make us all happy campers.
There is one gentleman who owns/controls 28 million shares--up from 16 million shares (as of October 1 2022)-a 75% increase in his holdings over the past year. 28 million shares makes him the largest shareholder at 13%. He is on the BOD and has been for years. I am talking about Stephen Diggle and Vulpes Investment Management Pte Ltd. I believe Stephen was on the board when Dr. Burrows was hired and has obviously overseen the product roll-outs/recent hires/and most important is keenly aware of the burn rate vs. cash on hand. So, while there has been no news to the public after the disaster of a webinar, I have to believe that there are activities going on behind closed doors that will result in Mr. Dibble making money…which should be a good thing for all of us. So, I would suggest that patience is needed until we see what is presented and discussed at the upcoming AGM. The key for me is funding. Smart money; folks that know more than I do-will invest a sufficient amount of cash to see the company thru to a level where its self-sustaining. If the company is able to raise funds (with all the baggage that people have been saying)-even if it will dilute current shareholders-in my mind-it’s a very positive sign. New money can go anywhere. It would come here because they believe the story and believe they will make money. As well, failure to raise funds- and its time to raise the white flag.
Wondering if anyone going to the Annual General Meeting next month would mind recording the meeting and sharing that with folks on the message board. I'm sure that many here cannot make it and would love to hear the action (assuming recording the meeting is legal).