3.35p / 3.53p target slice - 2.30p - 2.50p possible entry LONG
Updated
We might not have much of a retrace but I tend to go for the best entry possible, target looks conservative but always best to play it safe & slice never hurts.
Miton Group have been loading up on shares recently.
2.30p ideal entry if not below it at 2.05p so expose wisely.
Positives:
Great asset - Sable Zinc Kabwe Project - The Project targets to produce annually over 8 000 tonnes of zinc, 1 500 tonnes of vanadium and 15 000 tonnes of lead as it ramps up to full capacity over a 2-year period.
Cashed up as placing was done at 2.25p just a week or so ago
Negatives:
Be aware that there is a secured convertible loan note of GBP6.11 million attached to the project
Colin Bird is within the BoD
CLN's:
At any time that the loan is outstanding, ACAM may at its absolute discretion, by conversion notice, elect to convert the loan and all accrued but unpaid interest into 5 per cent unsecured convertible loan notes with a conversion price of 2.81 pence (ZAR 53.98 cents) ("Subscription Price") and a maturity date which falls on the third anniversary of the Closing Date.
During the loan period, Jubilee may notify ACAM of its intention to prepay the whole of the loan balance by prepayment notice. On the date of any prepayment Jubilee will issue warrants to ACAM to a value equal to 50 per cent of the amount of the loan and all accrued but unpaid interest thereon divided by the Subscription Price.
Miton Group have been loading up on shares recently.
2.30p ideal entry if not below it at 2.05p so expose wisely.
Positives:
Great asset - Sable Zinc Kabwe Project - The Project targets to produce annually over 8 000 tonnes of zinc, 1 500 tonnes of vanadium and 15 000 tonnes of lead as it ramps up to full capacity over a 2-year period.
Cashed up as placing was done at 2.25p just a week or so ago
Negatives:
Be aware that there is a secured convertible loan note of GBP6.11 million attached to the project
Colin Bird is within the BoD
CLN's:
At any time that the loan is outstanding, ACAM may at its absolute discretion, by conversion notice, elect to convert the loan and all accrued but unpaid interest into 5 per cent unsecured convertible loan notes with a conversion price of 2.81 pence (ZAR 53.98 cents) ("Subscription Price") and a maturity date which falls on the third anniversary of the Closing Date.
During the loan period, Jubilee may notify ACAM of its intention to prepay the whole of the loan balance by prepayment notice. On the date of any prepayment Jubilee will issue warrants to ACAM to a value equal to 50 per cent of the amount of the loan and all accrued but unpaid interest thereon divided by the Subscription Price.
Trade closed: target reached
3.50p exit. Nice profit!
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