Confident in the share price14 Aug 2023 01:16
Reading through the latest RNS's for some further information, I've been trying to work out if I havd missed something and why the SP went down not up on what i thought was positive news (I can't see anything substantial.) I thought I'd share some of my personal highlights.
The Executive Chairman and largest single individual shareholder, Charles Bray has invested £500,000 in the Fundraise consisting of £200,000 of new equity capital and £300,000 from the conversion to equity of a short-term debt utilising a working capital facility provided to the Company. Luke Rogers, the Aterian COO has subscribed for 800,000 new Ordinary Shares (£8,000). Simon Rollason, the Aterian Director and CEO Director, has converted 3 months of salary into 2,500,000 New Ordinary Shares (£25,000).
The main men at the top are putting their hard earned money into it and even converting salary, that's a ballsy move!
Other bits such as the exploration licences and extension are important but in my opinion minimal due to the unknowns, and by that I mean hard data on their contents, not just estimates but extensively mapped out geographical and mineralogical data with lab results, this would in my opinion add value to the land and to the company.
There's hundreds of bits that I can pick into, but its interesting they say "The Company's strategy is to seek new exploration and production opportunities across the African continent and to develop new sources of strategic and critical mineral assets for exploration, development, and trading." Not a mention of mining, if it wasn't clear before and with the JV and the public statements about future and current partners, ATN have absolutely no interest in mining these claims, instead wants to obtain licences, undertake evaluation of their asset, where successful appointing a JV to the highest bidders and then reaping the rewards without to much heavy lifting and financial risk then moving onto the next one, I can imagine there being a time where they have multiple partners all working on their claims paying a percentage all while Aterian brokers the product between the mine operator and the buyer to further expedite their earnings higher.
As a shareholder I'd like to have more information about the newly developed network and how their buying and selling of materials is progressing as they made a big point of this in interviews and stated it would be up and running by the end of June, so now we are in August, is it up and running and is it generating any revenue.
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