RE: Not good enough17 Oct 2022 09:18
Indeed this is a kick in the teeth - a 30% dilution at a 50% discount and a market cap under £ 2 million.
Literally the price of a house in North West London (though that is also heading down).
The PIs have been shafted even worse, as is sadly the case on AIM, but it's certainly a case of mates rates.
The directors are obviously taking the chance to up their stakes and I am sure the "institutional investor" is related to one of them in some fashion.
Remember Sirius Minerals (SXX) was stitched up by JPMorgan and Anglo American as well as being ditched by the supposedly patriotic Tory government.
That does not look yet to be the situation here, as ROCK now have funds to expand Moloai, which is obviously their best bet at the moment. They say they are funded to June 2023 and they obviously have links into the Greek government, which has the transparency levels to match an AIM company! Anyway, at least its in the EU, the mine has got metal, and I am remaining optimistic of a buy-out or JV at this bargain basement price.
80% down already - might as well ride this one out!