I wouldn't be getting concerned at all yet Miner. It is very early days for TEU. They closed today at 19.5c (range for today 19.5-21) after recently floating at 20c.TEU was recommended in Eureka Report as a strong share to buy and location etc.
However the share is now trading below the issue price.
I tend to agree. There's so many "wannbe" uranium miners out there at the moment that it's having an adverse effect on actual producers.Just great,
Another U company hits the market and can't wait to explore out in the boon docks, amazing to see how they're still coming out of the woodwork. Still I shouldn't be too critical, as karma may have the last laugh on me when I see TEU shareholders down at the bank cashing their cheques.
It's a new company now. Maybe 3rd time lucky? (I doubt it).Back 2007 - woh 10 years back I wrote on this thread about rotten fish.
Since then the only postings were about name changes. This company whatever name they adopt really stinking. It does not attract any one. No posting, therefore. Let me stay away.
Dear Joe - why not delist this thread being a most inactive one?
You and Miner might have spoken too soon Knobby. Myanmar Metals looks to be turning around. They just raised a massive $35 million at 6c a share through an oversubscribed placement. Included in the placement are $19.1 million of binding commitments obtained from cornerstone investors Perilya Limited and Mark Creasy (through Yandal Investments).It's a new company now. Maybe 3rd time lucky? (I doubt it).
- Great management teamCashed up to get through COVID-19,
Plus reduction of director wages
Production to commence in 2 years
Lead and Silver projections looking good
I am holding around half a million shares and have been holding for over a year.@warthogjump17 good luck with your investment / trade mate.
What are your intentions in relation to timing - Short term trade or long term position
How did you hear about it ? Friend / Forum / Scan etc
I have had a quick look at some of the presentations and a couple of concerns popped up for me but I may have missed some important info that you can correct me on.
Equity Raised in May 2019 ( $20.8 Million ) to bring bank balance to $32.3 Million ------------>>>>>> Current balance $15.3 Million and burning + $3 Million per quarter, this may or may not be a concern for you depending on time frame but expect another SPP to be rolled out for construction etc
Timeline for construction was mid 2020 but it appears that construction is still a while away as studies are still being undertaken, how long are you willing to wait?
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The above is not an attack on your investment but I have been burnt too many times to count on these up and coming mines and found that I have lost money or just got diluted so much on capital raises that it was hard to even exit my position due to the minimum trade size requirements.....Not a good feeling.
So I would ask myself;
- why have I bought
- What is my target
- What is my exit strategy etc
as you might be looking at your 300k shares and thinking ...... How do I explain that to the Mrs or Yourself... when they are worth 1/10th of your orignal purchase
You get the idea mate, and I truly wish you the best on this trade