Ball Mills which are sitting idle, because we can't progress with the project until we get more funding. |
it all goes to Richard Wilkins, he makes 10 million million dollars a year |
Where is all the money going? The NIU $5m, the RiverFort $2m and I think they did a placing. That seems a hell of a lot of cash burn this year |
They drew $5m from NIU, the deal has stalled and the $5m has “gone”. How are shareholders going repay it? I think huge dilution is coming soon, or complete failure if the NIU deal falls through |
Technically we do owe them $5million. We just don't have to repay for quite a few years. |
They don't owe NIU $5m trader
you could be less transparent |
How much cash has disappeared this year? I think they owe RiverFort $2m and NIU $5m?
If NIU pull out, PXC will have $7m debt at presumably 10-15% interest and no income to pay it.
£10m market cap $7m debt |
"...imagine if..."
...and then insert any comment to suit your current trade position / Company opinion |
Imagine if there was a placing......could there really be anyone gullible enough left to participate? |
No I don’t know for certain but they only have enough cash to last them to Q2 |
70p to 5p is a 92% loss, anyone buying at 6p will lose 10% instantly on the spread, and the possibly of another 50% loss over the next few months.
As with all shares the bottom is always zero |
Do you know that for certain? |
Why would anyone buy when there’s a discounted placing on the horizon? |
Currently NT to buy - so that 920k from yesterday has been absorbed by someone |
I can't think of any? |
I think you make some salient points there trader.This is the third Company this year where the share price has collapsed, costing me a packet.. I now try and steer clear of get rich quick enterprises.
There are however a lot of genuine Companies on AIM |
 Crooked company directors aiming to exploit a company and its shareholders often target the Alternative Investment Market (AIM) instead of the Main Market for several reasons:
1. Lighter Regulatory Framework
• The AIM operates under a more relaxed set of rules compared to the Main Market, which is governed by the UK Listing Authority’s Premium Listing Standards.
• AIM companies face fewer requirements for transparency, corporate governance, and financial disclosures, making it easier for dishonest directors to hide questionable activities.
2. Lower Initial and Ongoing Costs
• Listing on AIM is cheaper and faster than on the Main Market.
• This makes AIM attractive to smaller companies, but it also appeals to directors with bad intentions, as they can avoid the higher costs of Main Market compliance while still raising funds.
3. Weaker Oversight
• AIM-listed companies are not required to meet the same strict standards for audits, independent board members, or shareholder rights.
• This lack of scrutiny allows unscrupulous directors to manipulate financial statements or pursue self-serving deals more easily.
4. Easier Access to Capital
• AIM offers relatively easy access to investors, especially retail investors who might not have the expertise to identify red flags.
• Unscrupulous directors can use this to raise significant funds while planning to misuse or misappropriate them.
5. Limited Investor Protections
• AIM provides fewer protections for shareholders compared to the Main Market, leaving investors more vulnerable to mismanagement or fraud.
• For example, AIM companies can issue shares or undertake reverse takeovers with less shareholder consultation, facilitating dilution or questionable transactions.
6. Higher Risk Appetite
• AIM is marketed as a platform for growth-oriented, higher-risk companies, which attracts speculative investors who may overlook governance issues.
• Directors can exploit this “high risk, high reward” narrative to distract from their fraudulent activities.
In summary, the AIM’s reduced regulatory burden and oversight, combined with its focus on smaller, higher-risk companies, make it an easier and more fertile ground for crooked directors looking to exploit both the company and its shareholders. |
The fat salaries will cost $800k, what’s happened to the other $4.2m?
Someone mentioned there were similarities here with HZM; you can add RMM, GRL, and HUM to those
Too many crooked directors on AIM |
Looking very like a sell, but remember someone bought them. |
did someone dump nearly a million shares today.not sure if it is a buy or a sell, but sells are in the ascendancy today |
"Into Q2 25" That means new cash by April else its admin |
5 June 2024
“the Company has received the first tranche of US$5 million”
14 November 2024
“it currently retains sufficient working capital to meet ongoing obligations into Q2 2025”
NIU saw a change in the PXC business model, it was in one of the RNS statements
It looks like NIU think PCX is a scam and are pulling out? The $5 million was drawn down in June has “gone”, they’ll need cash soon |
The legal agreement that NIU did sign up for doesn't appear to be worth the paper it is written on ..what NIUs game is who really knows.I think the management thought NIU were mugs but instead it is the management that now appear the mugs...with nobody seemingly doing any due diligence on either side ...but unfortunately it is the shareholders who are ultimately the mugs for believing a word this company ever says and having coughed up so much money over the years to go nowhere...oh pardon me we have some old ball mills to show for it but no funding to get to production ..what a load of old .. |
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