RE: Right time, Right place(s)12 Aug 2024 21:42
Seis, when I posted my first message it was a genuine message to garner some information from people who held the stock. I posted that message in good faith, with a view to either buy shares or short the stock. Being honest ( unlike you and your band of ARC disciples), it was more with a view to short the stock as I believe in the no smoke without fire analogy. I was obviously right. ARC settled in Zambia. I have no connection to ARC or any of the previous management. I am just a speculator who runs my own book.
The vitriol that first message was met with was quite alarming, but also insightful. I felt something wasn't quite right here and I still believe that. Just my personal opinion. Too many people doth protest too much!
You and others on here have continually tried to pump this company with misleading statements. Do you remember the 13th Oct 2021 "without merit" RNS that you all jumped upon? That didn't work out too well did it? ARC settled. It also underlines I was right to ask the question.
The reality is, there probably was a good chance of upside here once the drilling started and dare I say it positive assay results were found. However, for the life of me, I cannot understand why the Board would agree or propose a 1 for 1 warrant on a placing at 1.8p, more so when there was some visibility of cashflow due to the AA deal. 1 warrant per 2 shares, not great but maybe, but really they should have gone 1 warrant for 4 shares. This cap table now has too much dilution baked in that market makers are expecting. Let's call it, forthcoming market overhang! 1.8p on the bid, sell your placing shares and have a free ride on the warrants.
You can put as many pretty pictures out as you like, but the equity is there for all to see. You can't excuse the fact that the warrant holders don't have to part with a penny for a few years to come. They get a free ride. We know that on current equity capital terms there is a 15% dilution waiting in the wings. The Board and advisors need a fecking good talking to and a shake. You should direct your ire to how they have destroyed your investment rather than aimless arguments on here.
The above. Thats why I am not buying the stock!