Agreed quote on ii, showing 0.585p to buy and 0.525p to sell. So near a 12% spread.
Looks and smells like a stitch up. Not a lot of debt in the company and a bit of revenue. No ones appears to be calling in a loan or going for a winding up.
This is complicated if it goes into admin. Assuming that the last accounts can be trusted!, the group has net assets circa £23m and debts circa £7m, however the debts seem to be mostly lease liabilities. It also made a small trading profit but a heaving great loss associated with administrative costs. The administrators would have a responsibility to debtors and to some extent shareholders. Technically there should be value left for the shareholders after the debtors have been settled but what the assets are worth in a fire sale or without a trading business is anyone's guess. I'm tempted to the view that those in with the greatest risk of this going bust and deep enough pockets will sort out a rescue but with the current board shown the door. As my original investment has now been reduced to the price of a coffee and big mac, I might as well see it out to the endgame.
Its not when the existing cash runs out that has changed its what isn't going to happen after the end of March. BoD now confirms that it isn't going to received any further receipts going forward, either from debtors or sale of its premises. The usual story, whilst the company has assets, according to its 23 accounts, its going to run out of cash to pay its bills. Potentially good product but badly managed. Receivers, if appointed, will have more scope to pursue debtors and realise assets. GLA, if you decide to stay in.
5085. Aim is always a gamble. I took a gamble on HE1 when they issued a negative RNS and it's paid off-lose some, win some. I agree re COPL but ENET might have a future. Got to have spare cash, patience and thick skin. Oh and if you can ignore the BBs
Closing 2.13p. Quite a lot better than 1.7!
2.20p looking to be just out of reach today. Close but no cigar or strawberry flavoured vape!
The following is taken from the RNS 'one that will aim to achieve commerciality at the earliest opportunity.' Whilst not specifically saying commerciality is proven the it is clear the company believes it is. HE1 directors are not prone to hype. Its up to investors to read into statements made in the RNS as they wish. GLA
Glencore's profits dip 70% and divi slashed due to fall in metal prices. Mining is a very volatile market. Can't see Glen wanting to spend $0.5B (and who knows if that figure is correct) on a new mine in Brazil.
Agreed Cash. Having exited HZM I only have BEM now (at a substantial paper loss). Looking at the extra capex needed to complete this mine the board are either incompetent or liars, either way they are not fit for purpose.
Sorry everyone, mixed up my Vaasas and Vardars.
SP has dropped to almost its lowest level in Sweden. Today's new re Vardar hasn't helped at all. Various metaphors come to mind. Deckchairs and The Titanic and Paddles and Schitts Creek. At least the sun is out today!
Had the same thought, unless the BoD have some further info to release prior to the raise. We have firm date for the fund raise yet but it's at least a month away. Its not normal for a company to give notice of a fund raise unless it has to. Maybe something's afoot.
Eric, the thin silver lining on a very dark cloud for me was the mention of 3rd parties interested in Kallak and the 'intention' to JV or farm out in the future. Separately, a health study reported in The Independent shows that graphene if inhaled doesn't affect lungs or cardiovascular system-apparently a concern that it might. Re Vardar, my guess is that the next announcement will be about our exit. Been underwater so long with this share I'm beginning to resemble a fish!
Yep. Down 25% here as well. Looks like the sub price will be around 1p, so another heaving great dilution.
Not well received in Sweden, currently down 25%. The waiting game gets longer.
No cheap top up then Blubay.
Noble only floated on the ASX 2 years ago and have had 3 further equity raises since then. They are moving at a prodigious pace but maybe investors are worried about another call for cash.
Bunsen. Where has this info come from. No new RNS since yesterday and having checked the company's website no additional news there either.
Agreed Eric. In the meantime our SP suffers the impact.