RE: Placing.15 Nov 2021 09:14
Some investors don't understand junior resources, PJ definitely does hence he is where he is, probably got his bit of luck too.
My gut reaction is 1.75p is a good price at this time and would have struggled to get better when near 3 or 4p anyway due to the short term bubble there was in AIM.
I do think that bubble made a lot of the warrants look very cheap and he probably regretted having so many at 1p etc but that's called a victim of your own success. Pow did 10 bag in 2020 so investors had an opp to make very good money and will again with drilling success (plenty underway).
It is a bit disappointing diluting 4.5% when these IPO vehicles are already bringing this. But this is how JR often is a blinding return on your money is 15% for no work in other markets. With JR you think you are on for a 20 bag and in the end its a 2-10 bag if things go well, or maybe more if things went very badly before they went well and you timed it perfect. But it might take years or be fleeting. Ideally you want some warrants for yourself but then you are putting money directly in the co unlike a retail buyer and you have to weather a storm for a while often.
If the 1 million raised brings results it is worth it. We do have 13 projects where once we had 9.
You might call it smoke and mirrors moving the goalposts or you might just call it like 4 or 5 companies in one. JR with the pedal to the floor. Yeah the gaskets might blow but you could always go and invest in National Grid if you have a heart condition. Paul is at the wheel and he's probably a bit maverick and ****y but you can't doubt there is a fair bit of skill and desire there and the work rate of 2 or 3 blokes.
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