It's also risky to wait for the company as a failed drill will make a farmout so very cheap and the drill has a 14 CoS !! IT'S GOOD TO LOOK A BOTH SIDES AND NOT BE BLINKERED
Or it's simply clued up investors reading the amount tied up in bank garantees + cash needed to drill + cash needed to buy new area = placement !!
Well that almost confirms my thought here for a while - a placement is on the way to pay for drilling and a new area - we have possibly $18m in the bank but have £7m tied up in guarantees which is hardly enough to concider a new venture never mind a drill..This may well be the reason why ii's have been holding off taking a stance on Chariot - it would make sense they are usually well informed !!
A better question would be - how much actual cash do we have taking away the money tied up in bank guarntees ?
Yep C Trader has just won the dumbest question of the year prize - Dear Larry are you breaking the law ? - Wow thats doozy CT
Looks like the penny has dropped amongst a few rampers at last - spouting rubbish over and over has done nothing but render their post as laughable - so how about the balance-sheet some would have you believe is overflowing with cash but dig deeper the last figures are from June and given the G&A could well be around US $18M then take of the untouchable bank guarentees of US $7.6M then you have a real figure not US $21M but circa US $12M - I'm wondering if that much talked about fund-raise is about to happen..
City Trader wont know this but back a few years over 100 m shares swapped hand in less than a month and no RNS and the SP never blinked
Funny how City trader predicted 20p on the 3rd Nov - 27 Oct - 20th Oct - still no mention of the seller unloading stock
13-Nov-1709:17:1415.125250,000Sell* 15.0015.5037.81kO 13-Nov-1708:21:3515.125250,000Sell* 15.0015.5037.81kO 13-Nov-1714:11:3615.125200,000Sell* 15.0015.5030.25kO Hard to argue with the facts
Save me - he actually believes that rubbish as well - strange how the huge sells are not noticed 700k of which are delayed trades not after Hours trades as reported on iii by another amateur..