Member Info for PortfolioPower

PortfolioPower

Posted in: GOLD.L

Posts: 2,021

Price: 0.00

No Opinion

RE: Bank Holiday Viewing8 May 2023 18:35

Yes will add 88e and IOG

Looking for those capitulation plays where as the O&G sector looks most difficult it throws up the best buying opportunities.

Took a small position in KOD from 0.04 when it was at capitalisation stage and the only contributions on their bb was repeated savage deramping about all the placings and CLN's.

All that was technically true but they had eventually got to the DFS stage and offtake partner which meant a viable JV could be sourced for development which is what has happened but also helped by the skyrocketing prices in the lithium market which also aided PREM.

When lithium took off so did the SP and allowed BA to throw another placing in at 0.135p when it had risen to 0.20p annoying at the time, but it was used to pay off the CLN's which once the market got their head around this the price then moved to 0.4p then pulled back to 0.21 then has run up quickly on the JV financing.

BRES could do similar, but they are 3 years behind where KOD are.

I need to get closer to graphite prices, it's strange that demand hasn't seen graphite spike as much as lithium.

Re BRES.. Still think a placing or some form of finance has to be announced and having traded it a fair amount and now on sidelines I'm going to wait for that to land. All talk of financing at the project level doesn't make any sense to me until they have a bankable DFS that fully sets out the project economics. Lots of potential if they pull that one off as planned. Looks like some kind of update due imminently.

Everything BRES has shown some signs of moving back up on the chart they have thrown another placing in, several placing since listing in 2020 and that is the necessary evil of getting a mineral resource that's already been discovered into production. Once all the finance is sorted, off takes in place and permits it could really move.

There is also the outside / left field chance that a OEM partner comes in with the money out of nowhere as a way of securing their own supply as I believe samples have been sent to manufacturers.

This would be unusual as I think only Teala so far has purchased any resources directly and that's probably because they will become a major battery manufacturer.

It's much more likely the project runs the traditional route of DFS/oftakers/JV etc.

RAB capital seem happy injecting funds so won't be surprised to see then come back for another scoop or two

Anyone in these two?

Alkemy Capital Investments PLC

Firering Strategic Minerals Plc

My spidy senses were right about an incoming placing over at BRES

Placing to Raise £635,000

Blencowe Resources Plc ("Blencowe Resources" or the "Company") (LSE: BRES), the natural resources company focussed on the development of the Orom-Cross Graphite Project in Uganda, is pleased to announce that it has raised £635,000 at 5 pence per share ("Placing") through the issue of 12,700,000 new ordinary shares of 0.5p ("Placing Shares").

And the RAB capital boys alongside Jub capital and Janganda.

Momentum has beeb strong with IOG this past week.

Looking good over there

Better add day one of placing volume into this thread so can keep a running total

Day one volume = 1,398,157,802

Daily volume (Day 2)

Volume 937,624,408

Volume finished 1,398,157,802

If the MM's keep it nice and tight and hold it above 0.5p as the overhang unwinds I'll be tempted to dip my toe if the daily volumes carry on similar to today.

Dai,

I seem to make it that they have only taken so far

the January placing of US$1,250,000 funded by EECP

followed by a further issue of equity in March of $150,000.

So only $1.4m of the potential $6m?

Leaving $4.6m to potentially draw down

+ the $2.6m conditional placing announced today.

+ the potential bank loan?

I'm tempted to post something over there on the TRP bb about this as I feel this point may be being missed.

-

I Couldn't see that they had taken the $3m in January, please correct me if I've got this wrong?

Got to hand it to JA as for all the flack he gets for destroying the SP, he certainly knows how to squeeze as much finance out as physically possible for a tiny micro cap.

Imagine if he was let loose on 88e!!

He'd probably manage to get a £120m placing away.. lol. :-))

So looks like there maybe an option for them now whilst the SP is under 0.1p to obtain these further cash tranches and NOT have to issue further shares at this stage and opt to say they will repay these tranches in cash (effectively a loan with a term of 24 months with interest payable of 9% on top) or If they can't do this by the end of the term a shed load of new shares will have to be issued at 0.1p to repay the rest of these additional cash tranches which now look like they are incoming over the months ahead in line.with the standstill agreement.

Not enough folk asking these questions Dai.

Looks like the January placing of US$1,250,000 funded by EECP was got away followed by a further issue of equity in March in settlement of $150,000.

This all seems an overly complex arrangement and agree feels abut like a proxy death spiral.

"Each placing under the Deed will be made by way of the Placee prepaying for Shares to be issued at the Placee's request within twenty-four months of the date of the placing (the "Placing Shares"), at the Placement Price, but subject to the Floor Price, as set out below."

Also...... looks like more dilution to come, as this standstill agreement put in place today is only a standstill for 90 days then the printing press will be fired back up as follows......

-

"Standstill Agreement with EECP

With respect to the Share Placement Deed of 13 January 2023 between TRP and Energy Exploration Capital Partners LLC (EECP), announced on 16 January 2023, the Company has also agreed a standstill on further Settlement Notices to convert the Subscription Amount Outstanding into shares, for a period following the Placing of:

· 90 days for $300,000 of the Subscription Amount Outstanding

· 60 days for $600,000 of the Subscription Amount Outstanding

· 30 days for the full Subscription Amount Outstanding"

So JA has with the knowledge that more funding is on tap from EECP got back to market, got a new joint broker on board in Axis Captial and alongside Novum they have announced today new conditional placing of $2.6m

Now back to the January deal which states...

"Further, the Placement Price will not be the subject of a ceiling and will be the subject of the Floor Price of 0.1p per Share. If the Placement Price formula results in a price that is less than the Floor Price, the Company may elect not to issue shares and instead opt to repay the applicable placement amount in cash, with a 9% premium, subject to the Placee's right to receive Placing Shares at the Floor Price in lieu of such cash repayment"

So this floor price seems to be set at 0.1p for any further death serial, very interesting that the SP is presently half of that at present.

TRP:

New shares issued = 4,600,000,000

Volume today so far = 1,211,807,803

Would probably want to see all those new shares washed through the volume to clear any overhang .

New shares admitted 30th May so looks like they could be cleared by then if the daily volume stays high enough.

Another heavy discounted placing over at AYM also today.

Very heavy discount to that placing at TRP.

Haven't jumped in (yet) tempted but need to keep an eye on volumes.

I waited a few days on their last placing to see if they would hold the price whilst the overhang was cleared and then jumped in for a filthy trade.

The market cap there has been battered so low that they can't place to raise 15m drilling costs like most of their peers.

Inevitable that they will need to consolidate their shares at some stage which is also stopping me from jumping in.

Assets have always looked interesting and its wouldn't be wildcat drilling either.

Probably needs a JV now or equivalent to really get the market excited.

Watching from the sidelines atm.

Industrial can be had for less than a few dollars per ct. And even less for diamond dust. Industrial diamonds can be picked up on ebay for next to nothing and it why you can buy a glass cutter wheel from B&Q for a few quid which is diamond tipped.

Personally id wait for the RNS on this one given the track record and money lenders breathing down their neck with this one month extension.

Seems way too convenient that after a a decade just as they are about to be repossessed from their properties that these diamonds are suddenly back on the table.

Sorry for my cynicism here, I won't mention this on the vast BB and spoil the party over there. Lol it just my take on it and happy to be proved wrong as vast holders don't half deserve a break after years and years of placings. Hopefully different this time around.

Horult,

Those scalps have worked extremely well for you on Vast

Just concious that Vast was smashed down just 1m market cap not so long ago when the market thought there was no chance of them repaying the lender as from memory as a loan default sees them lose the BP Mine as the guy putting up the Romania property structured it in sure a way that if he loses the hotel to the bank the mine then becomes his. At that stage it was a blood on the streets trade.

if they don't get the diamonds or the diamonds just turn out to be industrial and only worth a fraction of their precious equivalent the downside would be considerable.

Difficult to decipher just what is going on in the background?? I generally take a read across from the track record of directors in that scenario.

MCAP now 20m is as high as its been over the past 2 years - chart doesn't paint a true picture due to the serial placings thrown in every few months by AP.

Dai,

JSE seems to be holding steady albeit on low vols.

WBI - the blood on the streets trade offering up a small profit... sell now or wait for news on refinance or sale and leaseback?

A bird in the hand springs to mind.

CLON - still seems to be falling as I guess those who bought the lows and were 300% are still 100% up

What is the next likely inflection point there?

WBI - thoughts?

Priced to fail atm

One of the recent lombard offloads that I mentioned

VERY Naughty that 'ITS' which was another lombard offload was a pumped on Friday, that isn't worth the present SP -shamefully pumped imo.

WBI could be a different situation if they can refinance as they do have some chunky assets in the background.

Dai,

Been away for a couple of days so hadn't had chance ro reply to you re JSE

I watched with interest that 48p line get defended.

And the key matter of directors buying in which ticks that box for me.

Whoever was stake building alongside the BoD are probably in a good position now as the BoD buys will be sticky so they won't be selling

If the entity stake building has no immediate plans to sell either and no crazy tight stop loss it could get interesting.

They might just have some trailing stops in at sensible levels and happy to let it run.

Probably what I should have done with HUM!

Bought HUM at 5p alongside the directors buys and sold at 8p thinking i'd done well.

Kicking myself that It then ran up to near 20p

Why did I sell... it had moved quickly and the sentiment still hadn't recovered and I was worried about their production costs as their previous quarter aisc was higher than the PoG which had tanked it to 5p in the first place.

Should have held it a bit longer....

CNR... missed most of the amazing spike in the run up to the JORC back in the day, but also missed the painful hold for the next decade as the SP got smashed back down.

Sold out of OMI earlier this year to buy CNR at 16p after JM threw that placing in and put it up for sale have also now sold CNR above 30p

I may have also sold CNR too soon if it goes on to sell for 40p / 50p / 60p but when it was all doom and gloom holders struggled to get a quote to sell on both of the above and with my short term memory hat on I thought it best to exit whilst even those that had previously been de rampers on their bb's were suddenly buying in.

Both good examples if buying when the blood was in the streets.

Looking for some more like the above where it looks bad, but the BoD either take some in the open market or a large amount via a placing.

ITS - flying....

Just don't get spiked and suggest reading their RNS and you'll see what's going to happen.

GLA