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Whats happening here Horult, its had two bad days now, can it get much lower?
It's not great kev
the plant has been stopped, to save on running costs. Funds so tight they cant afford to keep it running😬
the latest 'fix' equipment is expected end of june and be in place and operating end of july.
He will likely do another raise before that, using up the last of the allowed funds.
who know after that. personally think he is likely to need an EGM to get the authority to raise even more. I am certainly not buying the dip 🤣🤣🤣
glad I am on a free ride there otherwise it would be very nasty
So basically this will go more or less to zero then they will raise and hope it works in the future..... Damn thats a real gamble expecially as right now most people must be in the red as im sure most brought in the last year or so.
Total mess, but could be a decent recovery play after the next financing? Difficulty is knowing wth is going on, as too many twists and turns with this plant, and not sure shareholders are told the complete facts with each update.
GR was good explorer but he should have brought in more expertise to the board going into production.. I think that was his single biggest mistake. The Stark plant was clearly never fit for purpose, issues from all parts of the plant. GR had to rely on Starks' expertise and they were shouting over social media that the plant was running fine and capable of producing SC6. Yet here we are over a year later still not producing that quality.
I do wonder what the company would have looked like if he had some more experts on the board and they had gone with a more proven plant design, rather than what Stark gave us.
'if' it comes good however, there could be good gains to be made
tricky bit is calculating the bottom, as at least 1 more placing, likely EGM needed and another 1 or 2 raises first.
I generally don't like these AIM stocks that get into billions of shares - that in itself is a red flag. But maybe worth a punt when they are done raising.
Prem rising a bit after the RNS
some glimmers of hope
Yeah saw that RNS, looking at mid July still, one of these that could make a fantastic recovery play in the coming months.
Just the fear that another placing will drop and the plant wont be correct but if it does start producing the correct grade it could really take off as the SP is so low right now.