George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
and AGM - really should have focussed and held Bird to account for the 400k he invested in MOZ which was a complete mess. He sounded like a man who realises what a disaster he has presided over, gone was the bluff and bluster - replaced with a bewildered 'keep the faith' tone. Of course there will be a placing - he will buy some track of land in Zimbabwe to justify a raise, which ill no doubt be under 1. My overriding impression was the whoever Moz gold are - they have pulled a fast one with Bird. Not convinced about the plant - wouldn't surprise me if they didn't own same or it is completely unfit for purpose. He should really be held to account over this debacle.
equals CLN - atlas will be ruthless in their conversions. Eric will have to conjure up the odd bit of 'good news' to generate some interest. Sub 1 soon.
To heap another load of CLN on their shareholders after they others have just cleared is absolutely disgraceful - it shows a complete contempt for SH interests. This is has been the attitude of MYSQ since it came to market - it is ingrained in the company's psychy. This will go lower with the CLN. The convesrion equation is traightfoward: ' The Convertible Bonds are convertible into ordinary shares of MySQUAR at a price equal to the average of three days volume weighted average price determined over the twenty trading days immediately prior to receipt of a conversion notice by the Company from the Investor.  '
Eye watering loss for year end viz 'Losses attributable to non-controlling interests combined with gains on assets results in a total comprehensive loss for the year attributable to owners of the parent of US$14,783,962 (2016: US$2,490,640).' CEO moved side ways - hmmm. Going concern (always worth reading the Health warning) 'The Directors have identified a variety of potential sources of funds including issue of additional equity and/or debt, shareholder loans, tax credits and sale of investments and/or plant. In addition, the Directors have identified additional cost reductions which may be implemented if necessary. Taking this into account and following a detailed review by the Directors of the Group's cash flow requirements, the directors believe that the Group will have sufficient cash resources to continue to trade for a period of at least 12 months from the date that the financial statements are signed. Consequently, the financial statements have been prepared on a going concern basis. However, as of the date of signing these financial statements, none of the potential sources of funds have been finalised and therefore there can be no guarantee that further funds will be received. These circumstances indicate the existence of a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern.' Cash burning - need funds.
RNS -more bland comments with no detail. There is simply no trust in the man as demonstrated by the muted response. PI have heard it too many times. Beggars belief he can put something like this out. Is this the news which was meant to arrive two weeks ago.
People still buying into this failing company. Every bit of news sees lower SP. The man's reputation is in tatters. This will drift and see more placings. Now where's this magical news previously alluded to.
People who have bought in the low 2's (as a lot did) may well take your advice, particularly if the SP is presently range bound - thereby adding to the selling pressure - this is what I was alluding to with the involvement of CLN. The company has a good story and prospects and there is huge potential - but the numbers of potential CLN should be ignored.
Scotlouie I broadly agree with your assessment with the proviso that we don't know what the current converter's situation and target price is. It may be 20% around the 3.96 mark but could off load lower to get rid - who knows ? Either way there will be a drag around until the current crop are gone and then the prospect of further conversions as SP rises. The most recent conversions came close together. Be interesting to see this play out over coming weeks/months
"More than one CLN holder and the holder who is selling is nearly done. The vast majority are not being converted. Scaremongering" This is not scaremongering. It is being in possession of the facts. I don't think anyone knows what the intentions, targets and strategy are for the CLN holders (unless you are one of them but that does not account for others) and the SP reaction would suggest they haven't all been forward sold. What we do know is how destructive CLN can be to a company and there is a shed full here to potentially be converted. I personally believe there will be more conversions. At the moment they get 8% interest a year on the CLN.
Yes RNS of 28/6/17 outlines the CLN listed on The international stock exchange as being ISSUE AMOUNT 11,571,563. MATURITY DATE 15-Mar-2022 . Not even touched them really with over 10mil more to be potentially converted. The last two conversations will take some time to clear. Good news will be heavily sold into. If there is more aggressive selling this will move south in quick order - Seems to be an increased appetite to convert. One to monitor. Hope PI have picked up the detail of the huge number of CLN outstanding.
LTH here still believing the guff CB spouts. This is sinking quicker than the heavy rains oft spouted as the excuse of poor returns. What reason is there for Colin's terrible communication and plasticine figures? Seriously anticipate a further fundraising here, Colin does like the Wonga. A trade may be in the offing but not quite yet. CB over exposed with other failing companies, a change in leadership would see a nice spike in the SP. Watching and waiting to see CB next move.
Can understand people selling after that RNS - a lot would not have seen the news until after the market closed - a Friday afternoon RNS is sneaky in the extreme. Sneaky is an apt word for Mr Bird. Whens the next cash call. Beware!
Very poor RNS today and it is clear CB is cavalier to PI's interests and communication. Complete lack of trust with Mr Bird. Very similar character to one George Roach at Prem - self style egotistical individual who treats PI's and the AIM market with indifference - avoid.
Spiked this up too hard on opening. With less than a million traded out of 47m with a clear seller about this has been held tight by the MM's. So less than 2% traded and no real movement from the opening may leave a lot disenchanted if no progress is made early next week. AIM is desperate for a good winner but I not sure this is the one. Will watch with interest. Tuesday should give an indication.
Further to the warrants exercised there was also some �151K in relation to accounts receivable on the financials of 30/9 - these should have been received (they weren't on the June financials). So there could be over �1mill minus cash burn. G and A for quarter up to 30/9 was about �100k and whilst mining exploration expenditures vary presumably these costs, since the end of January, will now be coming out of the �6m investment. Seems a healthy situation which should be reflected in the next results.
Senator the Hon. Franklin Khan, Minister of Energy and Energy Industries, Republic of Trinidad and Tobago Feature Address � Trinidad & Tobago Energy Conference 2018 http://www.ttenergyconference.org/2018/01/feature-address-senator-the-hon-franklin-khan/ ' the Government has been reviewing the taxation system and the suite of allowances available to oil and gas companies. Effective January 1, 2018 the royalty rate on oil and gas has been set at 12.5%. This will result in an increase in royalties. Other proposed changes to the financial system will be announced by the Minister of Finance in due course.'