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More compelling evidence for why the DFC/US aren't likely to let Orom Cross out of their grasp
Whoever wanted the 4.50 topup its all yours haha. I'm wondering when we get the prospectus if any of the bigger holders are responsible for the pretty relentless selling? I doubt it but you never know. Otherwise outside of people flipping for a quick 10-20% I really don't understand the rationale of selling down here considering the progress made but each to their own
It was a great decision to process our graphite in China, otherwise we would have had to go with the original plan of building a pilot plant in Uganda with all the extra costs that would have come with it. The first sample was to prove the material could be upgraded to 95% (and then 99% concentrate), this time we will have enough material to send to potential offtakers who will want to do their own confirmation testing before agreeing any offtakes
Sasha (investor relations guy) has stated the prospectus is with the regulator, this should be down to delays on their side rather than anything nefarious with the investment - but until it lands we won't know for sure of course
Previous funding RNS stated "In addition, the Company has conditionally raised a further £2,500,000 at 5 pence resulting in the issue of 50,000,000 new ordinary shares to an additional strategic investor ("Strategic Investor"). The Company is required to publish a prospectus on the basis that it will be issuing more than 20% of its issued share capital in a 12-month period. The Company and its advisers are in advanced stages of finalising the prospectus. The Company anticipates publishing the prospectus this month and will update shareholders prior to its publication"
Given that all resolutions passed at the AGM, we should be hearing more about this party any day now
Chunky old sell at 4.03, seems like some are anticipating a quiet period to your point LW. My last buy at these levels was in March 23 before BRES even announced the DFC partnership. Almost a year later, with bulk sampling/SPG testing complete with outstanding results and DFC partnership in full flow with 2m received+ LOI for full funding we are back here again. Makes zero sense to me but there we go
Of course new technology will be developed but it sure as hell won't be commercially scalable and replacing the lithium ion battery by 2026 when we come online ... Graphite is forecast for huge (and growing) deficits from 2025 onwards, we are perfectly placed as it stands to take advantage of this
Legalwolf, see here a direct response from Mike on a funding question from last week's telegram interview: "Definitely not going back to retail market for future funding, we have enough support from insto’s and HNW who are sticky and don’t need warrants or big discounts - will source funds from there as required."