Galileo Resources Share Discussion Threads

[bookwormrobert] 18/10/2019 15:25

Hi PlatHunter!
Thanks for the clueless contribution. I'd suggest you re-read the RNS:
1. The directors didn't take up the placing in its entirety. They took a decent number of shares, but no more.
2. The warrant sweetener to the broker is only a tiny number - 3 million.
3. The issued shares seem to be remarkably sticky so far. GLR is trading at 0.45 currently, well over the placing rate, and it is hard to buy shares (NT for any volume).
4. There may well be some kind of warrant "ceiling" for a while - but nearer 0.7p to allow for a decent 15% incentive for warrant conversion and sale. That's 50% above the current share price!
So almost everything in your post was wrong. As per the usual with you. But the big story you've missed is that Galileo are now effectively financed to production.

[plat hunter] 18/10/2019 15:03

I really don't like it when companies conduct placings with the directors taking up the offering in it's entirety and paying the brokers in warrants to further dilute shareholders at a later time.

The cost of the exercise is wholly undertaken by the shareholders and not withstanding CB's existing relationships with large family offices and institutional investors, you've got to ask how come none of those were interested? (It's probably not big enough)

Not only that, one might argue that there's a ceiling here now of 0.60 for the foreseeable.

I've been watching here for a while now as being a naturally curious JLP holder but I've seen as much as I need to now and in the famous words of Mr Bannatyne... "I wish you well with it but I'm out and i won't be investing."

ATB Plat

[sleveen] 18/10/2019 14:35

Just bought back the shares I sold a few weeks ago!

A placing was desperately needed.



T'other thread:

"sleveen 8 Oct '19 - 17:25 - 107 of 108

From the final results:

Net current liabilities circa £500k and G&A of £400k to pay over the next 12 months."

[plat hunter] 18/10/2019 12:24

No cash Bull.. Entering into negotiations when you don't even have enough cash to facilitate your own BAU activities is a really weak hand to play.

This placing stops GLR ending up like BMR imo.

[the bull] 18/10/2019 11:35

There was no need to raise money till after the Jubilee deal and then it could be done at a higher price. This raise stinks

[sleveen] 18/10/2019 11:25

Bingo!


"sleveen 8 Oct '19 - 08:12 - 106 of 107

Surprised there hasn't been a placing.

Time yet though!"

[plat hunter] 18/10/2019 10:23

Dilution here was obvious and called it, as well as the discount, way back in July see 92 of 109.

[deme1] 18/10/2019 10:03

JLP for me

to think this was 10p a few years back

[sleveen] 08/10/2019 17:25

From the final results:

Net current liabilities circa £500k and G&A of £400k to pay over the next 12 months.

[sleveen] 08/10/2019 08:12

Surprised there hasn't been a placing.

Time yet though!


Interims due Dec 2019.

[cmackay] 07/10/2019 14:00

As long as you're happy.

I wouldn't be.

[therealapplegarth] 07/10/2019 11:58

My hobby is laughing at mugs

[cmackay] 07/10/2019 00:41

You should probably take up a hobby.

[the bull] 06/10/2019 23:53

As long as you show up and admit you were wrong! that's a deal then

[therealapplegarth] 06/10/2019 20:48

I'd rather punt on a 3 legged greyhound lol ! I'll be sure to watch this in coming months. Can't wait to laugh at the mugs when this drops lower

[the bull] 04/10/2019 14:36

Time will tell, do come back and check up on us. Better still, take a punt, this baby is going to fly next year

[therealapplegarth] 04/10/2019 12:23

Only mug punters betting on this bird lol

[the bull] 03/10/2019 11:54

suckered in by the rns, whilst the broker who is involved in the inevitable is shorting this to get a better price. Colin Bird, you should be ashamed of yourself for allowing this again and again

[the bull] 03/10/2019 11:33

yours down as a sell also John

[johncasey] 03/10/2019 11:21

added..good rns

[the bull] 03/10/2019 11:20

come on Colin, a nice Directors purchase now would help