RE: Finance then drill results12 Nov 2022 09:54
Just had time to copy warrants triggers across to my spreadsheet. It helps to be able to identify price triggers and dates for any trading. 1p assuming we get there is going to offer some resistance!
Still I guess we knew that anyway. For anyone with time over the weekend it’s worth reading from section 23 onwards and to be fair it is all very clearly set out for one to understand.
The post period events are also interesting. It’s no wonder RM states no dilution! He should really be emphasising no MORE dilution!
I think this may account for the selling in the 6’s. Also .85 will present a barrier as the warrants can be converted from the date of grant. But don’t forget the company will get the cash. The next Blocklisting will be interesting!
Of course non of this will matter in the scheme of things when we hit the production targets!
29. Events after the reporting period
On 3 August 2022, the Company paid £343,308 as part of the final consideration for the purchase of Tyacks. The final payment of £482,155 is still due to be paid These amounts have been accounted for as a deferred consideration creditor in the accounts.
On 18 July 2022, the Company entered into a Convertible Loan Note Instrument with Koenig Vermoegensvermaltungsgesellschaft MBH ("Koenig"), a company incorporated and registered in Germany, for £2 million at an interest rate of 8% per annum. The conversion price being agreed as £0.06 per Ordinary share, save that where the price per ordinary share falls below £0.06, the conversion price shall be 90% of the 10 day VWAP price of an ordinary share. 266m warrants were also issued to Koenig, at an exercise price of £0.0085 and are exercisable for 2 years from the date of grant.
Usual caveats
Trek
Sign In
Follow the stocks
