This is a place to discuss A1 Consolidated Gold Limited (AYC) I confirm I own a parcel Anyone else hold or following?!
I wasn't able to as I bought my parcel after the ex rights date. What I like here are the recent drilling results announced in July which shows high gold grades, and also that they are actually producing gold from their 100% owned plant. Approx $17m market cap after the 1:4 rights issue.
From 2.5c to 3.2c? * Wouldn't take seriously anything that pulls a Pattos research note * Airleg mining - lost money backing that method at least twice * Management well on the way to hyperinflation of scrip: 705,444,899 Ordinary Shares 288,557,651 Listed Options 24,000,000 Unlisted Options 71,428,565 Convertible Notes * The convertible note issue is enough by itself. Shareholders are never going to get looked after when those 'financial products' are resorted to.
Well that is a 28% increase! Tell me who owns the Convertible Note and what price is it convertible?!
I take your point to a degree. At least the notes have a fixed conversion price, not a floating price calculated at a discount to the share price, like one company I was in (Intec ltd) But 12.5% interest rate payable quarterly. Shows what creditors think of the credit quality of the company in this low interest environment. A revival of an old Victorian mine. Is this the one that Octagonal tried to crank up? And before them Allied Resources? Give me one example of where one of these vehicle ideas to enrich management has rewarded shareholders? Not Bendigo or Ballarat. Not the one at Walhalla. Not Morning Star at Wood Point. Business Plan Managements hyperinflate the shares of a company, exhaust the shareholders, go into admin, then a new management with a 'fresh approach' acquire the 'project' and, helped by Pattos or someone, harvest a new set of share subscribers.
