NMT 2.27% 8.6¢ neometals ltd

why did his dad flog off 5 million shares a week or so before 4...

  1. 2,392 Posts.
    lightbulb Created with Sketch. 330
    why did his dad flog off 5 million shares a week or so before 4 terrible announcements.
    - He didn't. He sold 1 million shares 3 weeks before. You have constantly accused David Reed of committing a crime by selling shares with insider information. For you information (because you clearly don't know this), he only sold 1 million of 30 million shares he owned. If, as you have constantly insinuated, David Reed sold his shares because he knew bad news was coming, why would he only sell 3% of his fortune? 3%. The other 97% of his fortune -of a man who is too old to go out and make it back - is still in his hands like the rest of us. Just what do you think David Reed was doing that was so "suss as f" ? If you called him "stupid af" for only bailing out of 3% of his holding I could understand, after all you can't really be accused of being both a criminal AND and sneaky if you hang onto 97% of your holding when you know a big nasty is coming.

    why didn’t he cap raise at higher levels.
    - this has been answered. Do you know anyone who would have bought shares in NMT in cap raise at $1.90? $1.00? $0.80? The Board were under the impression that they would be okay, it didn't turn out that way. I think we were all disappointed in the timing (read: the price) of the cap raise, but there's no point reliving the event every day on these threads. You incorporate this info into your risk profile and either sell, sell down, or retain your holding. you don't continually relive it asking anonymous people a question that cannot possibly be answered with certainty. But you seem unable to get past this obstacle, you continually relive it without resolving it yourself. Why? I know you are bitter about it, but what do you hope to achieve by saying it over and over? You certainly aren't warning others who might pop in and read these threads not to invest in Neometals, because you yourself are still invested in Neometals. It would be pretty mean to try to deter investors from joining you on the share register, and counterproductive to your own investment.

    why didn’t he cut of a branch of the tech tree and sell to prevent dilution?
    - You don't just sell an asset just to prevent dilution, why would you suggest that NMT should do that? Sell an asset that will make us money so that we can get a quick money fix now? There's an industry that makes money of that - pawn shops. Why are you afraid of dilution? They got the money they needed to continue their progress, and (from memory) did they get $9m from instos and $3 from retail? That's just over 10% dilution. If you're an investor in Neometals, 10% dilution is a drop in the ocean. No one invested in Neometals was looking to only get to a dollar, or $2.00, they're all looking beyond that, otherwise they would have sold at $1.90 when we reached our highs. (Note: I accept that some battered and bruised holders might NOW be prepared to bail at a dollar or whatever).

    why not cap raise to fund a project, why cap raise to fund substantial corporate costs(wages).
    - they were planning to cap raise to fund a project - Stelco, but that looks to have changed with the change in fortunes of the company's other ventures. Which project are you talking about them funding? Vanadium was to be funded by SPV sell-down, Bondalti is pre-funding stage, and Barrambee they had seemingly in the bag with contractors bearing the brunt of funding requirements until the buyer changed their production profile. And Lib recycling was to be funded by the buyers. Why would we cap raise for any of these projects?

    why does he say we have a book build but doesn’t reveal who, where, size etc.
    - because no one has signed up. They've only booked in they haven't purchased. Surely you understand CR can't tell the world about purchases that haven't been made? The reason for the lack of purchasing: I'm prepared to take CR's word for it that they don't want to jump the gun and sign up other buyers until they had Merc sorted. There's a lot going on around accepting orders behind the scenes that doesn't make it to screen (SMS logistics not the least). But, and I can't stress this enough Utopian: If you think Chris Reed is lying about the existence of a build book, then you are beyond stupid for hanging around and continuing to hold. Who holds shares in a company where they clearly believe the CEO to be a liar and committing fraud on an almost weekly basis? Aside from reporting the company to ASIC, you should be running for the hills. The fact that you continue to hold (without selling a single share) means that despite you asking this question over and over and over, you have already answered it yourself.

    why he states another Chinese company is interested in Barrambie then nothing.
    - It is taking a while for any news on Barrambee, but nobody including you believes that there isn't a whole lot going on with the asset. Again I am happy to take CR at his word that our client's production schedule changed and they pulled the pin. I'm also happy to accept that there is still another party interested in Barrambee. Again, if you think the CEO is telling lies about this you should report him to ASIC, they would find him out extra quick smart. Why keep asking questions to us all that you have clearly answered internally yourself already because you haven't sold a single share?

    why have the so called cheapest lithium find ever days before initiating the capital raise.
    - I am a big fan of Chris Reed, and I am happy to hope that an accidental re-look at old paper has suddenly uncovered a possible lithium resource. But even I have some question marks around it, lol. But, I have not given it a value - current or future - of any size. If he wants to engage in theatrics to warm up the punters prior to cap raise he would be about the 9-millionth CEO to do so. I'm not really buying into any sort of mother lode find, but time will definitely tell us whether or not it was all just a bunch of crap. As long as one isn't relying on this bit of news to be a Eureka moment, there's really no point worrying about it or speculating about it at this juncture.
 
watchlist Created with Sketch. Add NMT (ASX) to my watchlist
(20min delay)
Last
8.6¢
Change
-0.002(2.27%)
Mkt cap ! $53.56M
Open High Low Value Volume
8.9¢ 8.9¢ 8.5¢ $108.2K 1.250M

Buyers (Bids)

No. Vol. Price($)
1 204764 8.6¢
 

Sellers (Offers)

Price($) Vol. No.
8.7¢ 99144 2
View Market Depth
Last trade - 16.10pm 28/06/2024 (20 minute delay) ?
NMT (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.