Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Today’s rise was so woeful as this has been diluted to blazes through Arthur’s multiple per year placing. If news had been even slightly negative the sp would have dropped a lot more than this rise. It’s quite obvious that the company has nowhere near enough cash to even get started with such a find. Without a major on board and Arthur off the board this is going to stay stuck in the teens / twenties.
I said a few weeks back that this continued drop looks like a forward sold placing and here we are. So they would have started discussions with II's to raise this money before or during suspension, raised the money during or just after suspension lifted then II's sold into it all the way down to current price. So COPL win as pays his salary, II's win by robbing PI's and PI's left mugged off as usual (except the ones who buy in at this price). What you can conclude from this is that Art isn't being truthful when he says no placings required. He has form when it comes to being deceptive with PI's (remember the video from few years ago where he bigged up the company then hit PI's with a massively discounted placing a few days later). Anyway, this is now a good buy-in price I think
As always, we'll be the last to know. For them it's like shooting fish in a barrell. AIM is notorious for lying CEO's though (or at least evasive / economical with the truth). A former AIM CEO was my old boss and he used to say "I don't let the facts get in the way of a good story" during a fund-raise and "I'm good at spin and getting money out of investors". He was too and the due diligence carried out by grant agencies like IUK, Horizon, ESA and investment houses is woeful. They will believe any liar that butters them up the right way.
This share price fall does feel like it's got forward selling written all over it. It wouldn't surprise me to see an RSN saying that £x million has been raised at a price of 20p per share. So the II's have paid COPL the money and are selling down towards that price at our expense. It wouldn't be the first time Arthur has played PI's for fools. I'm referring to the video he put out saying how exciting and wonderful things were a couple of years ago then a massively discounted placing two days later once everyone had jumped in. When you're a PI you're up against the company, NOMAD, paid ramping/de-ramping teams and Market Makers. They all work in concert to relieve us of our money. I know that from an email that someone from Yellow Jersey PR sent to me by accident few years back (he thought I was one of his friends with the first same name as mine). He asked me not to disclose what he's written but was basically saying that they'd rinse the PI's a few more times through placings before letting the share price rise (that was for company Tertiary Minerals TYM)
Milholland absolutely does NOT values PI’s except as a means to tap them for money when the salaries need to be paid (remember that video followed by the massively discounted placing). He’s taken the company from one mess and set of excuses to another. It’s like snakes and ladders.