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@ICB every CEO under the sun is on record as not wanting to dilute, doesn't seem to have stopped any of them.
If you listen to the recent podcast interview OF had with Charles Archer he made it pretty clear that if he could execute a private raise with US investors he would. I'm not saying this is a bad thing, it would immediately provide GMET with funds to proceed on the many drilling projects they've identified.
Also would like to see the major holders execute their warrants now to provide further funds so we can get on with things rather than this endless wait on some bureaucratic Gov grant-giving dept.
Potential here is great BUT we need to continue drilling, we have some very exciting identified targets.
I considered investing in POW but the correlation of mcaps seems to lag, with POW always behind the curve. So best way to have exposure to GMET without the historic disappointment of POW is to buy GMET.
So buy/topup now or after we get the USA private placing out of the way? Is the question for me.
Currently a shade off $2,200 on the gold price - that would be 10% above where the market was looking for a breakout from $2,000. That sort of statistic will start to generate interest, at least, outside the sector, in gold miners.
If OF is still in the USA after the PDAC conference I expect he's now delivering private investor presentations to potentially interested US parties - could we see a private placement soon? OF indicated as much in his recent chat with Archer.
At least then we're not eternally waiting for some US Gov Grant with strings attached and OF can start putting the funds to good use - downside we're going to see dilution just a matter of how much, on what terms, and what discount.
@LW then again it does take a decent amount of time to put these deals together - nevermind negotiate contracts.
Honestly... who knows. Clearly, market is thinking that's a possibility. BUT I'd point out we're down here on very little volume so just could be end of year Tax Losses booking (I booked some tax losses here about a month ago), or a lone holder needing to raise cash - if the volume was greater I think I'd be more concerned.
Right now I'm trying to decide if this is a buying opp - I'd like to see what some buying would do to the SP and how sensitive the offer is. Anyone wanna volunteer some buying? haha
If PING confirm at the end of the month they get a cash injection - how long that'll last...?
@DVH - how you feeling today? End of the week, digested the news and impact of the raise, you were even about to go longer yesterday?
I still think March could be transformative (once we get progress on the credit committee Feb meetings) and the price of Gold ain't hurtin' the in-ground valuations.
The Chinese now actively stimulating their economy (like they've a choice) and aiming for 5% GDP growth - could see demand for Titanium could be increasing again and end-users might start looking again to satisfy the future anticipated demand - trying to look for positives here guys.
MCAP less than £7m, madness.
@DVH you don't believe the TK financing is due anytime soon, or at least is significantly delayed, right?
Do you then believe that the 2nd bank credit committee approval is also delayed, or do you see that as a separate event that won't influence the SP too much?
I'm trying to understand your position, especially given you've placed an order to buy 5m a tick or two below where we are currently.
I'm honestly looking at Kefi SP right now and considering:
> Gold price starting to breakout - goodness knows where it might be heading if you read some of the pundits, (so are in-ground asset value increasing)
> Kefi's financing is pretty close to being finalised on TK (by which I mean credit committee approvals and subsequent signings)
> The KSA assets are just looking more and more exciting every time a drill goes into the ground
> Cash in the bank - yes the raise (timing of) caught us all off-guard, BUT we now near to £5m in the bank - okay reducing after repayment of debt etc, but still cash in bank which 'should' cover us until financing funds land.
I know it feels like a contrarian viewpoint given trades yester/today but sometimes THAT'S the time to buy.
Incredible - cannot think why we're down here.
@elect I have to say when I saw the RNS that was my reaction - they waited as long as possible but realised that by the time the financing funds were in the account it would be too late as they had ongoing financial commitments, so the prudent thing to do was to raise. I am still expecting 2nd bank credit committee this week or next - remain to be proved wrong (which of course would not surprise, me I'm so often wrong as my ISA can attest to, lol)
I think the market may be thinking along the lines DVH indicated, that a financing approval delay is the logical conclusion to the raise.
I don't go along with that but it means whilst one risk may have been mitigated the likelihood of another has increased.
Once we get second bank credit committee approval - which I still expect could land any day - that likelihood is reduced and then I would expect to see a signifiant rerate in the SP.
Wouldn't count on gov grant igniting the SP - didn't for BRES - and it's likely to be in progressive tranches not one big lump sum. But as you say it would allow GMET to progress things and we could finally see some actual activity rather than analysis on historical surveys.
They are getting funds dripping in from warrant exercises but what we need are the large equity holders to exercise their warrants to make that cash injection meaningful - also because these are the holders that are unlikely to sell equity to finance the exercise.
Until then I think the SP is likely to drift as smaller holders may be selling to finance warrants -and ya'know the usual limited concentration span of retail.
I hear what you're saying about offtake/financing agreements - but when the deal fell apart (sorry that's my interpretation) last year I didn't expect any news on that front for quite a while.
One of the issues I've always had here was simply the size of resource - sorry folks but it's just too small currently compared to many, many, other mineral sands projects. BUT we have the potential to rapidly expand that resource so for me when I see them trying to recruit a geologist that's very much a step in the right direction.
The bigger we can make the resource the more options we have, including potentially selling it.
At this stage I'd just like to see progress on any ruddy front.
Ignoring the Primary Bid (which was more successful than I expected) I mean how do you convince investors to pump in £4.5m, on a not huge discount (24% isn't that bad compared to some I've seen...HE1!!!)?
I mean we were literally trading at that level very recently.
The only way you can get that level of investment, in todays market, is being able to demonstrate a pretty good potential return within the not too distant future.
@DVH - give it couple of days. Then comeback with a fresh mind and see if you feel the same. If your confidence in the HAA's ability to deliver real value on these assets is shattered, then probably worthwhile developing an exit strategy that puts you where you want to be in the short-medium term.