RE: Frustrated27 Jun 2019 10:14
Perhaps you need to read the comments below, the acquisition from NAE and the working capital fro LCCM always had a small fundraise earmarked for them. JP stated they didn't want dilution, etc. Then we get told about the Cobre major client situation and the possibility of getting in $4m before the Redmoor purchase.
Where has he broken his word? He tried to raise funds without diluting but there was always a possibility of a fundraise and that has been seen. The discount was minimal, the amount raised the minimum, therefore the dilution for shareholders was as little as possible. I think he has done well, as we are now in a position to sign off on Redmoor.
I thin k many people here start to read other posters and get carried away, short term loans, etc were bandied around on this BB but not by the BoD, I believe they tried to get the Cobre payment and stop any dilution, but that hasn't happened in time, the major client is obviously still awaiting it's line of finance and the Company still seem to believe it will be forthcoming, so it was back to plan A a small fundraising. Exactly what have you lost on your shareholding due to this raise? The price is 0.1p below where it was before the placing and some 0.2p above the placing price, if you feel this is too low then buy some at this price, if not then the SP is where you think it should be and we have got enough cash to buy the other 50% of Redmoor, which we didn't have last week.