George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
But they end up with more shares as the conversion fee to compensate for the low sp is paid in shares so effectively it's the same as converting at whatever the sp is for example in this case around 4.5p so no 800% gain. If they converted all the 2.9m loan at that price it would result in nearly 65m shares being issued. That in itself is a ridiculous outcome for the size of loan unless I've misunderstood. That's why I don't see them being able to sell them all so can only assume what they have currently converted will provide the value they are looking to achieve. If the sp gets above 25p they will start to see a profit on the remaining cln's.
Thanks for the clarification MP. Whilst these conversions provide avo a small amount of funds they're having to compensate with a substantial amount of shares. Not sure how I read this arrangement but having loaned just under 3m they're now paying 25p to convert to each share and are basically receiving a bucket load of shares in compensation. I don't think they'll be able to off load all the shares if the price remains this low. Hopefully they see value in what they have converted to date based on a soon to be announced deal.
Morning and don't thing it is anything untoward and just issued as per the 12th Dec rns below. As IWTO has pointed out though it seems they didn't require a EGM which was clarified in the latest rns. Don't know who the lender is as you say.
Nice to get a summary of all outstanding warrants/shares hopefully it is because a proposed deal is going to be announced soon.
Under the terms of the Subscription, warrants to subscribe for 12,000,000 new Ordinary Shares will also be issued to the subscriber of the Subscription Shares by 15 June 2023 (the "Warrant Issue Date") with an exercise price of 25 pence per share, exercisable until 15 December 2027 (subject to the Company being granted the relevant share authorities at an Extraordinary General Meeting to be scheduled in the first half of 2023)
Sounds like a very supportive investor handing over £3m for warrants when could of waited until Dec 27. Otherwise maybe outstanding warrants are going to be wiped out under any forthcoming deal so holding shares is a preferred choice. The option of trying to buy £3m worth of shares in the open market at around the current sp of 4p is probably not possible. I would say this is positive news if it is as appears a £3m purchase of 12m warrants 4.5yrs before they expire.
Some big trades compared to the recent past has to be a positive that so much interest here now. A serious investor from one of my other holdings has even surprisingly turned up here...myles mcnulty. He's produced some very good research in other shares so probably a good sign to have that level of interest here. No guarantee it will boost the sp and those who have been here years know only to well that we need the sales for that to happen. Starting to get the feeling though that a court case win/settlement could result in some wild opportunistic movements with lots of new arrivals turning up.
Because hindsight is a wonderful thing I often ask myself why I didn't sell at 14p like the Newlands and buy back at 1.3p. Always thought 20p was achievable but have no idea where this will end up now after the latest raise resulting in 716m shares in issue other than believing that if they can win some of that huge market share/pipeline and win the court case I should make a decent profit.
with a headline $9.6b market by 2027 just 1% of this is 96m. don't know what that current market size is but based on this figure i'd guess it's quite substantial and just highlights how poor the cpx sales team are. hopefully the new ceo will give jeff and the team a big kick up the **** and show them how to close deals something they have been incapable of to date. everything seems to be in place to succeed just need proper leadership which might just have arrived.
Thought that was very brief with an abrupt Q&A. So the board has insight from the 70m pipeline to give confidence going forwards. Be nice for them to share some of it but not expecting that will be happening so must be some decent H2 numbers in the final results otherwise they have very rose tinted spectacles.....but we will see really is time for the so called sales people to start closing some deals.
Seemed that way but looks more like the French counterparty has gained about 1m shares at 5.3p that looks to have been a determining factor in moving the sp. Whether this means they are selling them who knows not sure why you would if imminent news on funding would result in a much higher sp. Very much up in the air at present like many here was expecting demand for a working machine to have provided the required boost but the uk market for startups even with world leading technology is dire. Keeping everything crossed for a good outcome now and being hopefully optimistic like the BoD.
The 20 centres might still be very interested but until avo are financially stable through raising funds or strategic partnership I wouldn't expect any commitments. Don't see why the details of these discussions can't be used as part of the negotiations for a takeover which will hopefully contribute to a fair value being achieved.
I don't think the placing shares are being dumped the issue is that having to raise funds in this current climate has resulted in a huge discount. It's actually a positive they are even able to raise funds in this market. It's been said numerous times but if they deliver on the numbers the sp will recover. Everything else other than the court case I wouldn't expect to make much difference.
Looks like an investment company to me and have been invested in cpx for a while. Fingers crossed for the summary judgment and following trial in July if it gets that far. End of year results could provide a further boost and will be good to hear from the new CEO with lots of positive news.
That is the other paradox in addition to the current AIM valuation paradox as pointed out by Dr Sinclair. Having spent $16b Siemens would be more than welcome to have an exclusive licensing agreement for £75m upfront payment and royalties on future sales. Not much to outlay to protect their already significant investment in proton therapy.