Member Info for RichTheNewbie

riptonk - if you're out of money then that's not anyone's problem but your own (and I seriously doubt anyone is short - even contrarian - quite the opposite - he's probably buying up the panic seller's shares right now too).

In for a penny. Might as well start buying up a few of the PI sells.

MagnumPI - it's cheeky I agree, however the big boys get treated nicely on smallcaps, it always happens, they're the ones who got this into production, which is now all but nailed on. It was probably a funding gap, caused by inflation this year, which they've plugged with this raising, and a bit more on top to keep the big boys happy.

Think about what you're saying...the II's HAVE JUST INVESTED.
And not for the pocket change you have, for tens of millions of dollars.
You can buy at the same price as them.
If you don't want to that's fine but what you're saying makes not one bit of sense.

You can't complain about not being able to participate.
You can buy now for the same price!
Voting no will make no difference - the vote will sail through.

Gap filling is one of the most stupid things in all of "technical analysis". Even horoscopes make considerably more sense.

Exactly, there's a load of two-bit clowns on here just trying to panic people, fact is big money is going in, the big boys are lapping up the chance to average down (a good sign), and as PI's you could probably do the same too for not too much a different price.
Anyone who thinks any these companies are run for a PI and their McDonalds money is living on another planet. The big players are always kept sweet.
So, you could have bought in the 90's this week prior to this, you can probably do the same this week after this, and what's happened is the potential future reward is now slightly lower, as a result of needing some more money to draw the financing, plus they whatever they raised on top of what was strictly necessary to keep the big boys happy.
That's about it.

You can be sure of that eh, lol, the competition to post the most stupid thing on here is really fierce tonight.

None of it was a fair point. It was total and complete nonsense. They issued some mates rates shares so let’s claim that suddenly they’re going to make no revenue until 28/29. It’s just garbage to scare gullible people.

I see we’re starting to attract the vermin now who’ll try to scare people into selling with nonsense.

I suspect it’s two things:
1) Together with the Primary Capital Raise, the Fundraise is anticipated to allow the Company to draw down on its senior debt facility (subject to conditions and covenants to be satisfied at each draw down customary for a financing of this nature, including formal agreement of the cost to complete construction at that time).
and
2) In addition, the Fundraise will allow the Company to accelerate engineering studies and basic engineering for the development of line 2 at Araguaia, as well as further invest in its decarbonisation strategy for the Project.

Point 1) suggests that the cost rises meant couldn’t have drawn the main funding without sourcing more cash via this raise.

However as point 2) is a “nice to have”, and not necessarily required, it smacks of expanding the raise and letting all the big boys (including directors) average down with big money (the same way any PI could recently but they wouldn’t be able to on-market).

Cheeky, but at the same time, people moaned about directors not buying, well they are but on a much bigger scale, as tucked away in there is “and certain Directors either directly or through associated entities to raise up to approximately £26.4 million”.

I’d rather see all the big backers and the directors on top piling in than none of them and the company scrabbling for cash from random others…

I can imagine that’s annoying but this placing didn’t change that situation much (in that anyone with cash has the choice to average down in the 90-100p range) and almost certainly still will have that choice tomorrow!

unless = if
(I really should proof read)

They’re averaging down.
Chances are you’ll be able to do so for not too far off the same price whether that’s 90p, 95p or 97p.
It’s hard to complain about that unless you’re not prepared to do the same.

main this = main thing

Doesn't really change a lot.
Dunno whether I really believe the waffle about being able to offer to retail or not but the main this is the big boys piling in to lap this up at not much under the current price suggests they're still confident they'll make loads of money from near this price.

Thanks ;)

Buyers exercise caution…as listening to contrarian is hazardous to your wealth :p
Bought back a good stake in another of the shares he hates yesterday (ITV).
Perhaps I should check out anything else he dislikes as his name may be more apt than I thought…in that he’s not a contrarian but a contrarian indicator ;)

I’ve been reluctant to add for a long time but too good to turn down at 4.85p old money.
With the MCAP now around $200m this could generate that kind of money in free cash flow in the first year of operation!

A side effect of the current rate rise debacle is that other miners are probably finding it increasingly hard to get reasonable funding and may well end up delaying their projects (or not doing them at all) because of it. This should further constrain supplies of metals in future years (and therefore be rather handy for those lucky to already be in development!).