I wonder whether US death spiral vulture Alumni Capital still owns 3.1% of Optibiotix (OPTI). It has never actually issued a TR1 and the terms of its investment were incredibly vague. Now it has another victim
Today, Beowulf Mining (BEM) says that it is “pleased” to have raised fresh funds at 11p. The shares closed at 20p yesterday and were £31.60 in adjusted terms at their peak so I am not so sure that the pleasure will be universal. I fact Beowulf must be a record breaker for AIM non delivery, making even Minoan (MIN), Eden Research (EDEN) and the other jam tomorrow producers, founded in the naughty nineties, look almost competent.
And now I turn my eyes upon Beowulf Mining (BEM) whose shares ran up from 6p to 15p in January on hopes of an imminent greenlight from the local County Administrative Board (CAB) for permission to mine iron in its Kallak North project in Sweden.
Shares in Beowulf Mining (BEM) plunged by 39.6% to 8.75p in morning trade prompting a suspension of the shares at just after 10 with the admission of quite disastrous news.
Beowulf Mining (BEM) has today announced a placing raising £1.25 million (gross) at 3.25p. The odd thing is that the company could have raised more and at a higher price but did not do so. CEO Kurt Budge and sidekick Bevan "African Eagle debacle" Metcalfe have screwed their shareholders - bar 1 - royally. Here's the story.






