Ermm really what would be the benefit and to whom and I think IRR shareholders might have something to say about that ..you may not have done any research but just out of interest what value do you place on IRR and how much money do you think prem can put up given it was not so long ago they were raising themselves a paltry amount with 11 billion shares in issue ..
I tend to agree mike to a certain degree but we as pis are always the last to know..my feeling is that VM is a little frustrated at the rating the sp is being given and that he is determined that value will eventually out but and it is a big but the market always tends to be one step ahead when exploration companies regardless of their prospects are munching their way through cash and to be fair the market has called it right thus far..now I do think that VM has alluded to other companies being interested in some of our projects but for the moment there really is nothing tangible until we get jorc hopefully in the time frame put out by the company as we do not like delays and then see what the market reaction is although personally I would still like to see some firm long term funding commitments cemented and then maybe we can move forward with a bit more certainty
Sometimes it is a fine balance between having good prospects with huge potential and paying the bills whilst trying to prove to the market the value that lies within..in the grand scheme of things if you believe in the company and management then holding for the medium term should be easy..on the basis of support from management and bigger shareholders that should underpin confidence..I am optimistic that things will look a lot brighter come end of Q1
Lol just got in and seen your comment..could not resist having a look at your posting history and see you have been chatting sh*te for a long time and as for sitting on a fence with no balls that would appear to be you as you seem to have a dig at everyone else to call an EGM except you seem to be caught in the headlights yourself..you do come across as a very angry person but being stuck in a bedsit in front of your screen shouting abuse at all and sundry it is understandable..filtered !!
To be honest I think the sp got ahead of itself before somewhat exaggerated by the smallish float of shares..even now I think we have 350 million ish shares in total which is still fairly good particularly compared to many other exploration companies that try to raise with more depressed sp's.. I agree mike about the sell off before the announcement and I seriously considered taking the chance at 15p and bottled it for fear of calling it wrong even though I was convinced a raise was imminent..perhaps there are more braver pis or maybe it was forward selling of those in the know..whatever we needed the money and hopefully we now get to jorc in the stated time frame and maybe NM and SC buy back those shares they sold
Just got in and many of you will not be surprised that I am not surprised at the raise as I have been banging that drum ..as I said the other day we are munching through 1 million AUD a month roughly and you never would want to leave it until the last moment to raise..it is a tough market and as I reiterated we are fortunate that our major shareholders and management are willing to back IRR which for me is a good endorsement..I have been holding off until this announcement before topping up which I will tomorrow but fwiw my thoughts are this is just to tide us over to end Q1 at which point I am on the fence as to whether we will need another raise or a corporate deal..I know i draw comparisons with Solgold and I do believe there are similarities in the way they raise funds at regular intervals supported by management and big shareholders
As much as it would have been temporarily exciting for the sp the company would have probably been advised by the Nomad to put out a statement ..as regards Geodrill and the sp we cannot get away from the fact that although we appear to be proving up some good prospects we are still a cash strapped explorer..solgold went through and to some extent still is the same situation where they constantly need funds..if the resources are as good as we hope then our main shareholders will have no problem funding a few more million at low sp for a bigger stake in something that they know will sell for many times over what they subscribe for..I believe the market is anticipating not only the possibility of the geo shares coming on the market but the call for more funds
I know it will be a long way down the line but if the deal goes through and we get to first gas am I right in thinking by that time we will be debt free , carried for the infrastructure charges and then receiving our share of gas revenues which would be ? would somebody give a rough calc thanks
You misunderstood Bozi what i was saying..in response to mike saying that he thought VM was quick to come out and dampen the enthusiasm re the VW presentation I think it was correct what the company did do otherwise the sp was rising on what was at the time just a presentation and not anything more..at that time..hopefully we do announce deals in the not too distant future as boy do we need something
counter what everyone has posted this morning I had already mentally expected a no deal or in for the long haul kind of arrangement although this could still fall at the due diligence stage so going to have to take it on the chin and hope there is some kind of decent return over the next few years..doh
You forgot to mention that NM has also been instrumental in having about 8 of his companies taken over bringing huge rewards for his shareholders..also many of his shareholders in Solg would have averaged down when the price was just over a penny and at todays 'lowly ' close still sitting on a 15 fold increase on those shares..also I think you will find the risks of investing in Ecuador with political uncertainty are flagged up in the auditors notes
Probably never a good idea to mislead the market even by just a little bit.. they were more than likely advised to cover themselves and VW .. I think the sp would have come back anyway on the lack of further news as it often does