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Cliveas this bit of the rns below is what concerns me. If JA can get rid of EECP then this looks a great investment, but this will go nowhere while they are about.
If required by the Company, a further US$3,000,000 may be raised from the Placee for Shares worth an equivalent amount, with the Placee's consent. Further information regarding the Placing is set out below.
Aimofthegame it’s all set out in the rns, they’ve only converted $675k so far.
The Placing will initially raise US$1,250 ,000 as a placing to the Placee of new ordinary shares (with nominal value of 0.001p each) in the Company ("Shares") worth US$1,362,500. Following the initial placing, the Placee will invest, at the request of the Company, up to US$1,750,000 in the aggregate for Shares worth US$1,907,500 in the aggregate, no earlier than three months and no later than eight months after the initial placing (such period, the "Commitment Period", and collectively, such investments, the "Second Placing"). If required by the Company, a further US$3,000,000 may be raised from the Placee for Shares worth an equivalent amount, with the Placee's consent. Further information regarding the Placing is set out below.
Looks to me they’ve only exercised $675k of a potential $3 million placing amount. This is a death spiral and the share price is going no where until they are out. Given the deal that was agreed by Asher, they aren’t going anywhere soon…
Greenvale is listed on the ASX in Australia and has a market capitalisation of over AUD$30 million. The Chairman is Neil Biddle, who founded Pilbara Minerals that now has a market capitalisation of over $13 billion. Greenvale has a large bitumen resource in Queensland and geothermal projects.
It’s got to be another helium play…Mosman oil and gas (MSMN). They are about to complete a jv which will see the other company invest $7.5m for the complete drilling of the first helium well in Australia. MSMN should have a market cap of at least £15m after the JV is signed (any day now), its current market cap is £1.8m lol.
Will be coming here, this should have a market cap
Of at least £15m when the JV is completed. Remember Greenvale is paying $7.5m for the JV, which should include all drilling costs for the first well. Yet our market cap is still only £1.7m lol
So they can raise anytime in the next 10 months. Not as bad as some suggest, who are already trying to spread fear… JV completion still expected within the next week.
https://www.lse.co.uk/rns/SYN/results-of-annual-general-meeting-zktyg5pluhj81w9.html
Last time haddy had a feeling he wrote this on 5th December:
‘No point in buying in now , this isn’t going anywhere for months, and market knows it , I’ll wait for .6 in January’
So the share price is 50% higher than his last feeling, going by that we could be at least 0.18p come February!