RE: Morning all1 Jul 2025 14:28
Mr Bird may well prefer to participate in a fund raise versus buying in the open market, I understand, Jackbal..
But I'm pretty confident he doesn't intend using that resolution 5 to raise in the .8p to 1.2p range, because a million odd dollars ish is just not enough scale to be meaningful/worthwhile versus the revenue that flows in as we go from Manica as we go (Also the heat he'd get for such a raise at such a price would be extraordinary, not least including his Nomad perhaps pushing back on such a thing anyway .... because, in the round, it's pretty nonsensical imho )
Also, I note from the going concern section of the last week published 24 accounts ( we're half way through 25 already, granted) :
''Upon reviewing those cash flow projections for the forthcoming twelve months, the directors consider that the Company is not likely to require additional financial resources in the twelve-month period from the date of approval of these financial statements to enable the Company to fund its current operations and to meet its commitments.''
I'm pretty confident that resolution is towards giving Mr Bird bandwidth to raise at a minimum of 2 p + .... and that - after expenses- two or three million being a worthwhile amount to raise - accepting ongoing Manica revenue too- and it specifically requested for a compelling case he'd present then to speed up a given resource exploration exercise .. (And if the s/p was already at 2p+ then such a compelling case might be already somewhat making itself.. etc.)
Generally, I feel the more you sell down here the more unbalanced your posting is getting Jackbal.. While I understand such to be human nature, it undermines your generally high quality posting somewhat, but not hugely, granted
imho & dyor
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