"New Century Resources advises that due to a delay in a material ASX announcement regarding a strategic transaction involving an asset acquisition, AN EQUITY RAISE [MY EMPHASIS] and new environmental bonding arrangements, it has had to cancel its presentation at the NWR Resources Series. NCZ will update the market shortly as to a webinar that will be held following the release of the announcement."
[EDITED BEFORE POSTING AFTER THE STEAM BURNT MY EARS.]
I really really really really don't want my shareholding diluted without increasing my value per share (as I calculate it). It would indicate bulldust if this project allegedly increases value per share, but the associated capital raising is at 15c or lower.
Repeated delays for different reasons in different years indicate underlying management issues. The only reason I haven't sold my shares yet is that the regional geology in Queensland is so good that Silver Lake... should make NCZ worth a lot more than 25c/share WITH NO FURTHER DILUTION REQUIRED, not because I consider management particularly competent.
If the new project increases complexity, with expensive new managers/experts hired for the new project, I don't want my investment, which was based on just the Century Zinc project, wasted on increased corporate costs.
Gambling increases volatility and consequently increases the probability that generous (but currently out of the money) share based payments will vest, even if expected shareholder returns from gambling are slightly negative. This is relevant because lots of 25c options expire in 2022 and the performance rights will lapse on 1 July 2022 if the share price is under 36.6c.
My ego really dislikes losing money when an investment looked so good, despite my rigorous analysis, but I suspect I am not unique.
Does "New Century" indicate how long we need to wait until we (or our beneficiaries) have shares in a profitable mining company?
NCZ Price at posting:
15.5¢ Sentiment: Sell Disclosure: Held
