Metalnrg Share Discussion Threads

[harrisun] 17/3/2021 09:13

Do give example
Then compare it with the majority of placings, where you can see forward selling on a cascading downward share price often starting weeks ahead to set the placing price based on the dropped share price level, safe in the knowledge you have secured the shares at a knocked down placing price.

Look its annoying to see sp, its annoying the discount, but it will pick itself up if the company has merit.

Manipulation on AIM certainly, but it would be a bit blatant to suggest they can push price up by over 50% and still find the buyers for what would be considerable numbers of shares and any forward runner would have had to have sold yesterday to realise any decent profit, and that requires similar number of buyers for millions and millions of shares.

[tomboyb] 17/3/2021 09:00

Tosh -

Absolute Tosh -

I have seen many go up 50% or more prior to a placing -

Where have you been?

[harrisun] 17/3/2021 08:56

tomboy. That's rubbish.

The reason insider trading and forward selling is part of that is damaging, is because forward selling DAMAGES the share price prior to a placing and continues often to do so after for a while, often in a drip drip cascade of sells starting weeks before hand.

I have never seen a share go up 50% in two days prior to a placing then described as forward selling.

[tomboyb] 17/3/2021 08:44

The only reason why I would buy at 0.90p is if I was a placee at 0.60p -

The buy would be to help the share price on its way -

If you don't have 0.60p placing shares might be an idea to simply wait -

[tomboyb] 17/3/2021 08:41

When stocks are forward sold the share price initially DOES go up to entice buying -

Of course it does -

When reality sets in then the inevitable happens -

Buying at 0.90p is very close to warrants so I expect this to crash further down -

[harrisun] 17/3/2021 08:36

This was not forward sold. IF it had been forward sold the share price would have gone down, not up.

you can't really take the discount from yesterday's SP, when it had risen so high over the previous two days.

I'm not enthused by placings, but I very much doubt the rise in the share price has anything to do with the placing and that in the background something is brewing.

[barts] 17/3/2021 08:34

You can't blame the company for a P&D, but well done for not being taken in.

Possibly a bit of a gamble if forward sold as this needs to be approved yet; can't see why it wouldn't but good news to be fully funded for the next push. AIMHO,GLAH

[7rademark] 17/3/2021 08:16

Is it just me that thinks this is OK, 0.6 is a significant share price comparable to recent lows and its hardly a lot of money or dilution, funded now and ready to go.

[mega bozzer] 17/3/2021 07:44

wow

many got impaled in this forward selling p&D

[cbeadle] 17/3/2021 07:23

Very steep discount, we drop today, but if Gold Ridge gets into production, what a bargain here!

[block4gooner] 17/3/2021 07:13

1 step forward2 steps back0.6 ridiculous

[tomboyb] 17/3/2021 07:11

MetalNRG PLC Conditional Equity Placing
17/03/2021 7:00am
UK Regulatory (RNS & others)

Metalnrg (LSE:MNRG)
Intraday Stock Chart

Wednesday 17 March 2021

Click Here for more Metalnrg Charts.
TIDMMNRG

RNS Number : 4836S

MetalNRG PLC

17 March 2021

THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED IN IT, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("EUWA")) ("UK MAR"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED WITHIN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF INSIDE INFORMATION (AS DEFINED UNDER UK MAR). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THOSE PERSONS THAT RECEIVED INSIDE INFORMATION IN A MARKET SOUNDING ARE NO LONGER IN POSSESSION OF SUCH INSIDE INFORMATION, WHICH IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

17(th) March 2021

MetalNRG plc

(The "Company" or "MetalNRG")

Conditional Equity Placing

MetalNRG plc (LSE:MNRG), the natural resource investing and exploration company, announces that it has raised GBP2.3 million before expenses, through a conditional placing ("the Placing") of 385,000,000 new Ordinary Shares of 0.01p each (the "Placing Shares") at a price of GBP0.006 per share (the "Placing Price") representing a discount of approximately 10% to the Company's closing mid-market share price on 9(th) March, when the Placing was arranged. The Placing Shares will have warrants attached on a one for one basis with an exercise price of GBP0.01 and an exercise period of 24 months from date of issue. The Placing was arranged by Peterhouse Capital Limited and SI Capital Limited as joint brokers for the Company.

The Placing & Admission

The Placing Shares will be issued credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares. The Placing is conditional upon: (i) approval by the FCA, and publication, of a prospectus relating to the Company; and (ii) admission of the Placing Shares to the standard segment of the official list of the FCA and to trading on the main market for listed securities of the London Stock Exchange plc ("Admission"). A further announcement concerning the expected date of the publication of the prospectus and timetable for Admission will be made in due course. Admission of the shares is anticipated to be in April subject to approval of the prospectus.

Use of funds will be for the further development of the Company's Gold Ridge gold project in Arizona, as outlined by the Competent Persons Report completed by SRK Exploration Services which will be available on the Company's web site. SRK have outlined an initial two staged follow up programme of structural and geological mapping and concurrent historical data validation and compilation. Funds will also be destined to complete the initial funding of BritNRG and for further development of BritNRG assets in Lincolnshire, specifically one side-track drilling of an existing shut-in well to create an additional producer at Whisby and the reprocessing and reinterpretation of seismic and geology at Newton on Trent and Reepham in view of potential development in 2022/23.

The person who arranged for the release of this information is Rolf Gerritsen, the Company's Chief Executive Officer.

IMPORTANT INFORMATION

This announcement does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities in the United States, Canada, Australia, Japan or the Republic of South Africa or in any other jurisdiction in which such offer or solicitation is unlawful, prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. The distribution of this announcement and other information in connection with the placing and admission in certain jurisdictions may be restricted by law and persons into whose possession this announcement, any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Neither this announcement nor any part of it nor the fact of its distribution shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

Peterhouse Capital Limited and SI Capital Limited, which are authorised and regulated in the United Kingdom by the Financial Conduct Authority, are acting exclusively for the Company as brokers in connection with the Placing and Admission and will not be responsible to any other person for providing the protections afforded to customers of Peterhouse Capital Limited and SI Capital Limited or advising any other person in connection with the placing and admission. Apart from the responsibilities and liabilities, if any, which may be imposed on Peterhouse Capital Limited and SI Capital Limited by the Financial Services and Markets Act 2000, as amended or the regulatory regime established under it, Peterhouse Capital Limited and SI Capital Limited do not accept any responsibility whatsoever for the contents of this announcement, and no representation or warranty, express or implied, is made by either Peterhouse Capital Limited and SI Capital Limited with respect to the accuracy or completeness of this announcement or any part of it and no responsibility or liability whatsoever is accepted by Peterhouse Capital Limited or SI Capital Limited for the accuracy of any information or opinions contained in this announcement or for the omission of any material information from this announcement.

This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will", or "should" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the directors' current intentions, beliefs or expectations concerning, among other things, the Company's results of operations, financial condition, liquidity, prospects, growth, strategies and the Company's markets. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Actual results and developments could differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements in this announcement are based on certain factors and assumptions, including the directors' current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's operations, results of operations, growth strategy and liquidity. Whilst the directors consider these assumptions to be reasonable based upon information currently available, they may prove to be incorrect. Save as required by applicable law or regulation, the Company undertakes no obligation to release publicly the results of any revisions to any forward-looking statements in this announcement that may occur due to any change in the directors' expectations or to reflect events or circumstances after the date of this announcement.

Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this announcement.

Product Governance Requirements

Solely for the purposes of the product governance requirements contained within the FCA Handbook Product Intervention and Product Governance Sourcebook (the "UK Product Governance Rules"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any 'manufacturer' (for the purposes of the UK Product Governance Rules) may otherwise have with respect thereto, the Placing Shares have been subject to a product approval process, which has determined that the Placing Shares are: (i) compatible with an end target market of (a) retail clients, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the EUWA, (b) investors who meet the criteria of professional clients as defined in Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA and (c) eligible counterparties as defined in the FCA Handbook Conduct of Business Sourcebook ("COBS"); and (ii) eligible for distribution through all distribution channels as are permitted by Directive 2014/65/EU (the "UK Target Market Assessment"). Notwithstanding the UK Target Market Assessment, distributors should note that: the price of the Placing Shares may decline and investors could lose all or part of their investment; the Placing Shares offer no guaranteed income and no capital protection; and an investment in the Placing Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The UK Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Placing. Furthermore, it is noted that, notwithstanding the UK Target Market

Assessment, Peterhouse Capital Limited and SI Capital Limited will only procure investors who meet the criteria of professional clients and eligible counterparties. For the avoidance of doubt, the UK Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of COBS 9A and COBS 10A, respectively; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the Placing Shares. Each distributor is responsible for undertaking its own target market assessment in respect of the Placing Shares and determining appropriate distribution channels.

This announcement is not being distributed by, nor has it been approved for the purposes of section 21 of the Financial Services and Markets Act 2000, as amended ("FSMA") by, a person authorised under FSMA. This announcement is being distributed and communicated to persons in the United Kingdom only in circumstances in which section 21(1) of FSMA does not apply.

Persons needing advice should consult a qualified independent legal adviser, business adviser, financial adviser or tax adviser for legal, financial, business or tax advice.

For further information, please contact:


METALNRG PLC - Rolf Gerritsen (Chief Executive [phone]
Officer) 9060

Joint Brokers:
--------------------
PETERHOUSE CAPITAL LIMITED [phone]
Guy Miller / Duncan Vasey / Lucy Williams 0930
--------------------
SI CAPITAL LIMITED
Nick Emerson [phone]
-----------------

[tomboyb] 17/3/2021 07:10

385mill share placing at 0.60p and 1.0p 385mill warrants -

Here we go again -

[excellance] 17/3/2021 07:08

Typical, prefictable

[harrisun] 16/3/2021 17:21

EUA2 would be ok

[excellance] 15/3/2021 20:04

STP would sit nicely in a SPV.

[georgeo1] 15/3/2021 16:46

CS has a few corporations going . EUA, Mnrg, Kibo, Tsi.

[ark87] 15/3/2021 16:38

Can you explain the EUA link? Also do we know anything about the stake builders from today's RNS ?

[julian1000] 15/3/2021 15:58

I think you could be spot on with this although obviously just a rumour at the moment.

[julian1000] 15/3/2021 15:46

I hope it's something linked to EUA somehow

[harrisun] 15/3/2021 15:43

With a rise like today's I'd suspect they will have to put out something, even if its a know no reason RNS