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01-07-2019, 01:51 PM
#4321
Yes - if you don’t have the 15k cash that is the best strategy
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01-07-2019, 06:12 PM
#4322
Originally Posted by steveb
So don't forget you still have time to put your shares on the market at .007 and be able to buy them back with the bonus
What if it is over subscribed and you miss out .. that would be cause for disappointment
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01-07-2019, 07:05 PM
#4323
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01-07-2019, 08:21 PM
#4324
Member
Originally Posted by Timesurfer
What if it is over subscribed and you miss out .. that would be cause for disappointment
Yeah, it's another strange thing about this CR, TS. They didn't say anything about scaling back if it's over-subscribed, did they?
So if there's good news before 19/7, they could get a huge amount of money coming in. Oh dear, what to do with all that money?
My strategy for this SPP is to wait a bit closer to 19/7, hoping the SP rises a bit (or a lot ) and throwing in just $4k of my own, and buy the maximum $15k of new shares. $4k is just the amount I feel comfortable with right now. I've put the various market prices and amount I'd sell on a spreadsheet to help me decide. There's some great averaging down to be had here, I reckon, even if I sell at the current 0.7c, which seems reasonable, if not certain.
And if the market price rose to 1.1c, the effective price for my new shares drops to around 0.247c.
(I find this a bit hard to believe, myself, maybe someone can check my arithmetic. But if I sold a million shares at 1.1c = $11k, add in my own $4k, equals the maximum $15k allowed, to buy 2,617,801 new shares (including the bonus shares) So I’ve bought 2,617,801 - 1,000,000 new shares, = 1,617,801 for $4k. That’s .247c each, I think)
And yes, thumbs up to your last comment, Brain! [Edit, sorry, 2nd to last comment about the bright future!]
Last edited by Lion; 01-07-2019 at 08:25 PM.
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01-07-2019, 08:22 PM
#4325
Originally Posted by Meister
I was expecting an announcement? Was I mistaken to believe they would announce something today if they were allotting today, or are the key words "intends to allot" and the intention didn't happen aha
They have announced to the ASX, presume the NZX will get theirs in the morning. $715,000 raised so far.
https://www.asx.com.au/asxpdf/201907...s8fzgs086h.pdf
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01-07-2019, 10:02 PM
#4326
Originally Posted by haewai
That's stuff all funds. And the announcement notes the pilot plant won't produce any gold until end Sept. Yet another delay.
I take an opposite view haewai. That to me is a very good result because I believe that most shareholders will wait for the later date like me as there is no great rush.
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01-07-2019, 10:52 PM
#4327
Member
The announcement is a clear nod to everyone that they have got the funds they needed to carry on till the cavalry arrives, enough dosh to keep them operating (without bank loans) till the money / gold, starts coming in.
That gives massive confidence to everyone else who was considering taking up their 15k of more shares.
I am more happy than I have been the last couple of weeks.
But looks like Rahu is a goner before that baby was even a glimmer in Mat's eyes.
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02-07-2019, 07:27 AM
#4328
Originally Posted by Brain
I take an opposite view haewai. That to me is a very good result because I believe that most shareholders will wait for the later date like me as there is no great rush.
I agree, this is a good result.
And now let's keep an eye on how many insiders are in, so to speak...
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02-07-2019, 09:54 AM
#4329
Originally Posted by haewai
?? Those funds are enough for another quarter of overspending against budget, as usual.
$715000 means less than 50 shareholders were happy to keep funding Matt Hill's salary. I wonder if any of them were directors.
I can't see anywhere in the announcement as to how many shareholders applied,where did you get the info that it was less than 50?
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02-07-2019, 09:59 AM
#4330
Originally Posted by haewai
?? Those funds are enough for another quarter of overspending against budget, as usual.
$715000 means less than 50 shareholders were happy to keep funding Matt Hill's salary. I wonder if any of them were directors.
The previous high levels of spending were due to the cost of mine refurbishment I think shareholders expect lower quarterly expenditure from now on until the mine generates revenue
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