focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Just taken another £8500 - reported as a sell - thank you MM's :-)
Great news that they're trying to pay the deed back in cash without any dilution to shareholders. The deed holders appear to have no grounds for their statutory demand and so I see this RNS as a positive - MM's will try anything to get their pay for the day so false drop will recover v quickly. What a gift of a buying opportunity this is.
Looking forward to this re-rating.
When the acquisition completes (imminently), we’re going to issue circa AU$9,750,000 of stock.
That's a 17% dilution (circa £5.5m) based on current exchange rates) against our current mcap of circa £33m.
Not expecting material buying to commence here until post acquisition. The next financials also need to demonstrate clear progress. If so, I too will re-take a sizeable holding.
Best,
Nate
I’ve never looked at this company before Bt just happened to stumble across their RNS this morning.
This below is the most interesting part for me considering where the SP is now and the capital that will be required:
“Loxley's illustrated potential commercial robustness also means that UKOG can now plan to fund a future development via normal conventional oil and gas debt funding. The option of a farmout, where UKOG's costs are carried by a new partner, remains a further viable funding option.“
Good news, but still some way off. Good luck.
When the acquisition completes, we're still going to issue circa AU$9,750,000 of stock.
That's a big dilution (circa £5.4m based on current exchange rates) against our current mcap of circa £30m
Why would new investors choose now, when they're just going to get diluted another 20% imminently.
Not expecting material buying to commence here until post acquisition and news of positive cashflow from Madagascar.
Best,
Nate
- The cobalt heat maps are insane
- Bonanza grade cooper production within the next 8 weeks
- Organic growth via utilisation of Molulu free cashflow to fund multiple near-term production mine acquisitions - no dilution
- CEO owns 22% (all paid for - no options) - will keep buying up to 29.9%
- Silly MCAP - will re-rate within weeks on production news and first revenues
- Calibre of board A++ having trodden this path before, bringing in new investors including Ian Hannam (“the king of mining”) with a premium raise
- The list goes on, and on, and…
What’s not to like…
Castle,
238,095 shares (X) 0.63p
= 1,500
Think your maths is a little out there…
Basically, the TSG independent valuation report was formulated when market conditions / valuations were much healthier. If your concert party was the majority shareholder of TG, then of course you’re going to want a new valuation report at much more favourable terms. The Poddar’s know what they’re doing and will ensure the deal goes through, however I do expect the Mozambique acquisition to be next which will be a different story.