Tonight we are delighted to welcome four companies CEO’s to our last live event of the year: Suzanne Dilly, CEO at ValiRx, Vincent Mascolo, CEO at Atlantic Lithium, Helge Hammer CEO at Longboat Energy and Bert Monro CEO at Coro Gold. Please register here.
It sounds like you'll lose 'best offer' completely if you subscribe for L2 regardless of whether you actually use DMA to trade but worth checking with them I guess. Remember though that the idea of L2 is to get the best price in the first place. In effect you're creating your own market where you can place buy orders below the current best bids and sell orders above the best offers. So if you're diligent enough you should be able to always get your own 'best price' possibly better than that which IG could have got you, after all they probably keep a little bit of the spread for themselves.
Is it worth it for just a few trades per month, probably not but I don't know what size you're trading so you'd have to work that out as you go. L2 is really for day traders because of the frequency of their trading. If you can trade everyday inside the spread plus work out when a stock is about to make a move and in which direction it is obviously a very useful tool. My guess is (given the size of trades you've talked about in the past) that it's probably not worthwhile for you but then you do love your asx price action so maybe there's an entertainment value to be considered as well? Might be worth asking IG for a free trial? No harm in asking.
Donkey you sound like you're almost wetting yourself mate, unfortunately it was you that wasn't listening. CC did mention solar several times and the Hydrogen unit is still on track to be delivered H1 '22, tested on site with first revenue in '23. At the same time we'll be getting on with the transmission line, which also is anticipated to take a year. So come '23 we could have up to 4 sources of revenue coming onstream. Gas to power, Hydrogen, Solar, Carbon.
You can talk it down as much as ya like but those are the facts.
Also gloating over a falling shareprice (amidst a general market sellof I might add) of a share you purport to own makes you look like a ****** of the highest order, and no just in case you can't work that out it's not a compliment.
Yeah that sounds like the team were surprised that the assay results did not more closely resemble the xrf figures. They know from historical and geo phys what is likely there, why we didn't get that confirmation is obviously what they're looking into.
Not as some would have us believe that the xrf results were some fraudulent attempt to jack the shareprice. I'm sure once they figure out the correct place to drill the initial xrf, previous drilling and geo phys results will be fully vindicated.
I agree grappa, on the one hand they're saying we can't afford to finish the PFS but at the same time they've raised money for an acquisition. In what world does that make the slightest bit of sense?!
If you have one asset and know that getting the PFS makes it that much more likely to be partnered or sold AND makes it much more valuable why would you then use what precious funds you've raised to pursue buying another asset?
I feel like I'm in some sort of parallel universe here with the posts I'm reading from some. Those wearing the rose tinted specs can you answer that question? How does it make the slightest bit of sense?
If you answer 'ah well perhaps there's another deal being negotiated' well that could make some sort of sense BUT we've already had one deal fall through apparently so who's to say that another deal (if such a thing exists) won't fall through?
And related to this point is the mention once again of a 'value event' in the last RNS which must have been after the deal fell through. You can't just leave that there unless there is another deal being negotiated but again, it would be complete folly and madness to purchase another asset until ink has dried on a deal.
As with everything EUZ any communication from the company is so vague as to just throw up a dozen more questions.
I can see no justification at all for buying another asset unless and until we have a black and white RNS stating that Toral has landed some kind of deal.
Many companies have been marked down this week not just Colin Bird ones although I did hear that rumour too. Most likely the markets were marked down wholesale because of the new covid variant appearing. If it turns out to be highly transmission but mild the markets will fly back up because a mild variant that becomes the dominant strain is obviously a huge positive for every country.
Thanks to cjen and numpty pi even though cjen chose not to acknowledge my questions or ask them.
No confidence in this BOD at all. We might stumble over the line eventually but it will be despite this BOD rather than because of them.
A supposed deal that fell through and we have no idea who it was with. ARS had a deal that fell through earlier this year but they told the market who it was with, so it is allowed and done by many companies. Announcing that a deal was possible could have seen a far higher share price for a raise. Why did they not announce this earlier in the year and raise off the back of it? Yes we'd have been hammered after the deal fell through but we'd have raised at a much higher shareprice with much less dilution. The shareprice has been hammered anyway!
Could it be that they didn't announce the company involved because there was no company or no deal? If there was a deal then they really missed a massive trick to avoid diluting us to the degree we have been.
Then there's the current funding issue. Money left for 12 months they say, presumably IF we don't acquire another asset. If we do then 12 months is fanciful and acquisition is their stated intention.
No mention of Adam Habib or what his remuneration was. No more detail around said potential acquisition and worst of all the PFS is NOT fully funded. We all remember the rns what was it now? 18 months ago? Where they said we were funded for all the major parts of it, which immediately set alarm bells off for me and I posted a comment about it immediately on here. 18 months later and another shambolic dilution and we're still not fully funded to complete it!
This management are inept. I can't believe only 20% of shareholders voted. Shame on the 80% that didn't. You'll get exactly what you deserve over the next 12 months if we're around that long!
Might be of interest to you Brad;
This is the point the detractors have missed prickly. CB hasn't assembled all these projects just to move from one to another and neglect them, a common misconception I believe. If people listened carefully and read between the lines CB is certain of a huge commodities bull run and a surging copper price. He believes that this will be the era of the smaller mine as larger mines will take too long to bring to production. Copper will be more in demand than any other metal worldwide to build the greener future. So what has he done, assembled as many Copper projects and other vital resource projects as he can on the cheap, and waited. Now he's starting to make moves as in ourJV. He knows even if we don't develop or do minimal development on some of the other projects, they will be in huge demand over the next few years.
Well you don't need to stop posting Shed would be a bit of an over-reaction. Every board needs some balance. I get and understand your points about Toral and in a broad sense I agree there's still a chance Toral can do the business for us.
BUT the questions I asked about this new strategic direction and about how long the money will last are directly related to that. I'm worried that we just won't have enough money to go round to get the PFS even finished! If we do then we still won't have long to get a sale or JV before the money runs out. This is the problem as I see it, so unless LR can come up with a real, solid and plausible strategy to get that achieved alongside this new strategic direction I think we could be sunk because I can't see another fund raise being stomached by retail investors and probably not by Instituronal investors.
I'm too long in the tooth and too long in EUZ to live on hope and luck. We need a solid, credible plan coherently laid out about how and when we will achieve the PFS for Toral. We need much clearer guidance about exactly what it is we're looking to buy, if it isn't producing then it needs proving up (more cost) if it is producing then it will be more expensive up front. We need some confidence and assurance that all of this can be achieved realistically with the money raised and that we won't run out of money again in 3-6 months. I can't see it personally and that's why I voted the way I did. I hope I'm wrong.
Shed I don't understand your optimism. In light of the latest placing and the new strategy it just doesn't make any sense to me unless you have so much invested that believing that it could fail is just to awful to even contemplate, so self delusion is your only option?
Can you answer the following questions?
1) What metal or metals are we looking to buy? LR couldn't make his mind up.
2) What country or even continent are we looking to buy in? Again LR couldn't make his mind up.
3) How much is this asset going to cost? I'll give you a clue with this one, NO ONE KNOWS! If you don't know what or where you want to buy you haven't done any due diligence, if you haven't done any due diligence then you can have no clue what you're going to be spending on said asset.
4) From experience with other companies, if you want to make sure of not buying a lemon some amount of due diligence must be done. With current cash burn rates how can we afford time to do the proper groundwork needed to ensure the asset and deal is sound?
5) After factoring in another drill programme, more assays, updating our jorc AND buying another asset and needing cash for general working expenses, can you seriously see the relatively small amount of cash we raised lasing us longer than about 3 months?
6) Are we now fully funded to complete ALL aspects of the PFS?
7) What was Adam Habib paid for failure?
If you can't answer these questions Shed then I really think you're in the right share because LR can't answer them either! To me it seems ludicrous but obviously not to you...
Yes Highside I concur, I think they realised they needed something more substantial to interest the bigger boys.
Shed fair enough given the extra cash to go for the bigger resource except that it has meant more dilution and at not favourable terms. I have a pet hate when companies over-promise and under-deliver or say one thing and then do another. We as retail investors make our investing decisions according to what we're told by the management. That is how trust is built up or destroyed. To say you're funded for all the major elements the inference is that there would be no need for more drilling. So have the management once again misjudged things with regard to the interest they thought they had? Then realised oh this resource isn't gonna cut it we need to make it larger. As I say it's another example of trust being eroded.
This blokes a c0ck plain and simple, along with quack a day they're a right pair of mugs. The fact he keeps coming on here shows how crap his own stock must be. He's more interested in BZT than ufo and for good reason. This is where it's happening. All the ducks are lining up to quack, quack a day will soon feel right at home quacking along with them. Smiller loves it here he sees the multibag potential and can't help himself. I'm sure he realises ufo has had it's day, he got spiked over there and is now well and truly stuck. He spends his days here dreaming coz it soothes him, I think he secretly dreams that one day he'll get out of ufo breakeven and then he'll be piling in here quicker than you can believe. Pity the fool.
If the current thinking is now that more drilling is needed before we can produce the PFS then why did they say a couple of years back that all the major elements of the PFS were funded? I wouldn't call another drilling campaign plus the associated assays a small component and without this placing we certainly weren't funded for more drilling! So we're they lying to us?
Nicely summarised EkXoc, I listened to the whole interview myself and would urge all investors and those thinking of investing to have a listen too.
This time next year we could well be in production in Cyprus but there are many near term value drivers too with our other assets and that licence renewal of the sleeping giant that is Mankayan.
I won't use the 'M' word but a quick glance at our current market cap measured against likely production output next year plus our other significant assets and it's plain to see where this could go. PADYOR.
If we haven't been able to 'sell' Toral that, in my opinion is the fault of the head honcho. I remember watching my very first presentation from LR after having already invested and it left me underwhelmed.
I could tell passion for the asset bubbled under the surface but it wasn't conveyed in a manner that the masses could pick up on. Everything was couched in very cautious (overly cautious imho) language almost as if he was frightened of saying the wrong thing and being admonished for it by a tutor.
I was left thinking if the asset is really as promising as the words he is mouthing why was the presentation so sterile? Why wasn't the passion in the project displayed with more er passion?
It's quite a subtle point to get across and difficult to put into words but many who have seen LR present should hopefully get what I mean. He's not the kind of leader to leave investors inspired, excited, hyped up for the asset and the ambitions of the management.
He's instead very factual, cautious, guarded and researched. Yes some CEO's over promise and under-deliver which is worse but you have to generate a buzz around the project or you end up with placings at subdued sub-optimal prices which is exactly what has happened.
LR's presentational style is one thing but as has been well documented their have been many other problems such as the botched scoping study (2 serious mistakes in 1), the now famous "I don't care about the shareprice" quote, the constant inability to get across to shareholders with real clarity where we're at and what the strategy is.
Multiple placings at significant discounts. Perception that institutions or 'mates' have got preferential rates. Failure to comment when we finally got an institution on board. Failure to deliver clarity on whether the PFS was or is fully funded (still waiting). Missteps with rns after rns.
The 'other funding options' comment, the 'value event' comment. Not informing investors on serious points like Sheds' 'deleterious elements'. In short a massive failure to communicate properly with shareholders what's in his head regarding Toral and where this company is going on top of some very dodgy 'promises'.
The latest massive dilution at huge discount coupled with the complete dogs dinner made of the new secret asset they wish to aquire in an unspecified country was the last straw for me.
Did it not occur to any of the board of directors that doing this without first explaining why Toral's PFS isn't finished and without talking in more concrete terms about the proposed acquisition that investors would be up in arms?
Maybe it didn't but it should have!