RE: Placing6 Jun 2020 15:33
Hi Bkn -
Your placing Q first: Are you suggesting that NM diluted (through this placing)by 0.5% with the full knowledge that the market would probably react by the same (at the very least)?
Lo and behold the market did react and by 20 times the dilution rate, at 10%!
If (as you say through your experience) you know this is going to happen...tell me why anyone, absolutely anyone in their right mind would enrol for any allocations? Instead (if they want discounted shares) they simply buy the next day. Can you explain why there is a religious calling (by some) to get on the placing bandwagon?
On your second issue (NM playing in the major league), he is way outside his capability currently and flying blind. I own two companies and when I decided to expand, I brought in 'experts' in areas I was not familiar with, as I got larger. They paid for themselves in spades. They then stood down.
NM brought an NCM rep onboard precisely to assist with his endeavours for expansion and ultimate production. It is becoming apparent that the advice NCM is/has given, is not welcome and so the pair have fallen out. NM 'thinks' he knows better, no doubt especially now that he has been assured by the franco support. But believe me when I tell you he is in no way "in the major league" in any shape or form. He might think he is but as it stands (reflected in his activities and time scales), he is still a minnow and continues to think like a big fish in a small pond. IF......and it is a massive IF.....he really genuinely wants to take this to production, he needs support from a major(s). Annexing them at this stage and coming up with c -o -ckamamie pathways like NSR financing and Placings is a strange way to go about it.
BHP must be pulling their hair out. Hurry up October, that's all I can say.
To re-iterate, Bkn - I am firmly of the belief that this stock will make it BIG. No ifs or buts..............it's just the length of time he is taking over it. Get on with it Mather and stop thinking you are the new mining messiah!
Sell Alpala and bask in its success and press on with the other 70+ tenements. Clocks ticking old man.