RE: Telegram27 Nov 2023 16:46
If we're out of cash, a placing int going to do anything in my opinion as that would now start to suggest were not selling coal at a meaningfully profitable price or someone's not paying bills, or we're not shipping coal?
If price is dropping below 10p we're below the IPO price and that means everyone is underwater.
I'm not comfortable where the price is but I'm thinking no-one in the business will be happy with this price and hopefully an explanation is due.
Avani and Acap have acquired higher than this SP, albeit getting interest but I can't see any placing at these levels would be beneficial for anyone.
No information supports being out of cash at the moment so I will sit and await more info and work on the basis the drop is due to Panama canal issues which will have a solution at some point.
GLA.