Member Info for shamI89

Latino, you must be mad to think that they would stump up 200 millions for nothing. Glencore have very "deep pockets" and that is why they can wipe out existing shareholders for that sort of money.

BOD has sold shareholders down the river. RNS was vague and lacked details. Cynical in me says that it was a deliberate attempt to let institutional holder's get out at the expense of shareholders. This is only traders share and share price is going nowhere until financing is sorted which can wipe out shareholders. Glencoe has played a master stoke here, they sold this mine when they were in financial trouble, shareholders financed it and they will have it back developed and ready to produce. Sometimes we have got to love aim

This is what surprised me as well, as they must have known about these things for quite sometime. These sort of changes require approval from top management.

It had hall marks of a large institution seller as there was no bounce. It kept going down and down. Besides that market git spooked by extra 35% as no institutional investor was going to provide that sort of money and all of other options would have led to shareholders being very very heavily diluted or in worst case wiped out.

Watch and learn!

They can't do it without a very good reason. Bod should have clarified the situation. Market is factoring it total or partial equity wipe out.

There is definitely a back-ground seller, clue lies in NT to buy or sell. In this share I suspect trades are being taken to cleaners.

You are wasting your time ThePublic777, irony is a big chunk of private investors enter these sort of shares to have a quick trade and most of them are not interested in knowing what is at stake. They are in for a trade and would say anything to suit their agenda.

Looks like trader's attempt to pump and dump it for 10% has failed, now watch them exiting.

@Tardis looks like you are one of those traders who have lost their fingers catching this falling knife.

No one would want to buy this project in current shape. These sort of findings take years and it took these guys a very long time to conclude this funding arrangement and they have already tapped market once. It is a fatal mistake and has put whole project at risk. If this asset was producing and they needed funding it would have been a different story.

Catching a falling knife is a risky strategy, too many traders have lost their fingers doing that. I suspect any occasional bounce is being sold into. It will keep on falling until we get an update on finamcing.

But these changes can affect production and expansion. Production is the key to pay off debt. Would you trust this management on production?

They won't walk away but can wipe out existing shareholders by injecting more money. A few mining companies have gone down that route.

They need 200 millions but that is not end of it as that update means all of their production targets and cash-flows are irrelevant.

Who is feeding 10k sells into market. Traders provided the volume and looks like it would hit days low as we approach end of trading day. Looks like whole thing was set up to defraud aim investors of money. How can they spend years and half a billion dollars to push the deadline forward and increase costs by 35%.

Sells appearing regularly, do private investors really have purchasing power to absorb that sort of volume?

I suspect big buys are bailing out as equity is worthless, nothing is stopping it and quite a few traders have lost their fingers trying to catch this falling knife. Sheer incompetence of management or corruption of highest order.

Then this company had bought this asset off glencoe. So after spending half a billion glencoe may have it back for peanuts and would capitalise on money at the expense of shareholders.

But it is not about money as update like this means their numbers can't be trusted. If they don't hit their production targets then they are in big trouble as someone pointed. But that is not the end of it, finding required money is a problem too