RE: Can anyone explain this?21 Feb 2020 16:05
The arithmetic is pretty staggering. If they sold Italy for 6.7m shares at, say, 1.4p (if Zenith "neglects" to meet the 100,000 scm consecutive targets that is all CORO will get!) that's just £93,800, compared to a headline RNS figure of £3.9m. That's just 2.4% of the RNS figure. And it's not even cash but unsaleable (for now) shares. And that was CORO's only producing asset.
It didn't actually cost JP et al a penny of course, as this was just an issue of 6.7m new Zenith shares.
Compare this to Tom Kelly at EME, who recently did a £400k cash raise (yes, real money) and put £200k in himself.