Rockfire Resources Investors - ROCK

Rockfire Resources Investors - ROCK

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Rockfire Resources Plc ROCK London Ordinary Share GB00B42TN250 ORD 0.1P
  Price Change Price Change % Stock Price Last Trade
0.125 15.15% 0.95 16:19:42
Open Price Low Price High Price Close Price Previous Close
0.825 0.825 0.95 0.95 0.825
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Industry Sector

Top Investor Posts

zxie: David Price, Chief Executive Officer, will provide an investor presentation on Wednesday, 03 March 2021 at 9:30am.
johncasey: doubt they have blown £2,000,000 in 6 months Corporate summary -- During the period, Rockfire announced the appointment of Allenby Capital Limited as sole broker to the Company. -- A placing of new ordinary shares was announced to the market late in the reporting period. On 29 June, Rockfire announced a successful fundraise of GBP1,000,000 gross through a placing of 117,647,100 new ordinary shares. The issue price was 0.85 pence per share. These new shares were subscribed for by a combination of new investors and existing shareholders. The placing price represented a discount of approximately 13 per cent. to the closing mid-market share price of an existing ordinary share on 26 June, the business day prior to the announcement. Importantly, the Company did not issue any warrants in connection with the placing. Rockfire's largest shareholder and Non-executive Director, Nicholas Walley subscribed for 748,200 shares in the placing, thereby increasing his holding in the Company to 52,464,000 ordinary shares. The net proceeds of the placing, amounting to GBP941,932, were intended to be and are actively being applied to the drilling programme at Plateau to test down to 750m deep. Funds were also earmarked for geophysical studies within the Lighthouse tenement and magnetometer surveys at Copperhead and Copper Dome and general working capital purposes. Following the period-end, the Company raised a further GBP1,050,075 through a placing of 64,620,000 new ordinary shares at a price of 1.625 pence per share, as detailed below. Post-period highlights -- A diamond drilling programme commenced at Plateau in July, with six holes to be drilled down to 500m vertical depth expected to be completed. -- A placing of new ordinary shares, raising gross proceeds of GBP1,050,075 (net GBP996,989) was announced to the market on 29 July. The proceeds provide the Company with significant financial strength to ensure a continuity of deep drilling, should a main gold zone be intersected at Plateau. -- Since 30 June, 11,166,667 new ordinary shares have been issued pursuant to the exercise of warrants at an exercise price of 1p per share, generating proceeds of GBP111,667.
maytrees: Happy to buy earlier despite the risks including shorters. Good luck investors.
george23666: Of course it is going to drop weeks before deep drill results. There will be a flurry of buying a few days before results. Indication shows that every chance of good results. A very quick placing and money raised at 1.62, coming from institutional investors. Nothing to indicate that these have been dumped. It is hold tight and wait or bail out. Plat hunter, so can I ask how much you have invested here? Nothing I suspect and if so this board has absolutely no interest to you. So just go and deramp something else to fulfill your time. It is wasted here.
excellance: you would think that the market, or at least investors in ROCK would be happy with the placing, because although they could have waited for positive drilling results to deliver and so get a much higher price and less dilution they have hedged and received the cash in the bank, so ROCK now have a guaranteed future beyond te June assay results, and beyond the current drilling program. I have to assume that nothing up til now has been anything other than indicative rather than spectacular but at least theyn get to keep searching and you never know they may actually find something down one of those holes.
geko5trade: excellance, no the market has been positive. It moved into an uptrend a couple of months ago and then broke the rising trend up with some volume just prior to this announcement. Falling to the placing price hasn't broken the trend. The reason they could get it away at twice the price of the last fund raising is because of that trend. Investors have already considered the new situation and decided to pay more for the shares. Of course it would drop on bad news but the current market sentiment has been undeniably positive.
george23666: The assays from drills in June is crucial. I have a very sneaky feeling that they are very good. I think the fact that a placing has been raised in such quick time and investors have jumped on board probably have wind of these results. If they are rubbish, the share price will drop to below 1.40. Then everything hinges on deep drill. I honestly don't think money would have been raised in a placing on the back of no assay results or at least a nudge and wink. If they were rubbish we would have seen a retail placing for around 1.3. Of course all in my opinion but the fact that we already have this money raised and it has knocked only 15% of share price is a bit of a result. More importantly it says volumes.
excellance: the market response has been fairly standard, neither positive nor negative, the share price has merely moved towards the placing price while "investors" consider the new situation. The new situation is that there are slightly more shares than before, the company now has a million quid in the bank, drilling is ongoing and further drilling looks certain, and another placing this year looks very unlikely, but all of this does not guarantee positive drilling results, that is a separate issue entirely. the assays from the holes drilled in June must be with us in a matter of days, and i am surprised that the company chose to place shares prior to the results, but maybe they are exploiting their knowledge of the results, or, maybe they thought it wise to place before results in case they aren't that good? We'll know the answer to that when we get to see them.
excellance: It'll likely stay at this level for a day or two until retail investors have forgotten about the placing. Usually if placing shares are being dumped they do so at 5% above the placing share price or more, but it looks to me that with the share price at 1.7p there is no opportunity to dump, unless they were forward sold over the last few days. When CHF had their placing last week the share price actually went up because solving the cash situation and fast tracking diamond drilling was seen as positive.
shakester2: If you're not interested then why hang around posting the same thing, literally every five minutes? What is your motive? If it's to educate us less knowledgeable investors, thanks. But you only need to post your opinion once. Other than that your constant repetition just dilutes its relevance and become somewhat annoying
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