Megathread - Crowdfunding

It will be interesting to see the share price for this and the further crowdfund raise…I have 5000 shares at 20p / share I think…so fingers crossed for an increase…

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I thought the Cornish Lithium crowd fund was at 9p / share and large investment in recent days at 20p / share. So an uplift, but not massive.

They’ve done (at least) two (3 maybe?) crowd fund rounds. The one I invested in was 9p, the subsequent one was at 20p. All things considered I think holding that valuation is decent. I can’t remember if the first techmet investment was at 20p or somewhere between the two.

Going back through the Legal review documents on Cornish Lithium - share prices from rounds I’ve invested.

10/2020: £0.090362.
05/2020: £0.05. (rounded on email)
08/2019: £0.05315

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doubled…so thats not too bad

Oh cool. I though there was only one round before I invested. So there must have been 4 crowd fund rounds so far then.

I don’t think I’ll be investing again @20p. That’s also because I’m quite heavily invested in lithium mines and juniors already via Pilbara, Atlantic and a couple of other tiny holdings.

Also fund raise at 16p around 06/2021

Never look a gift horse in the mouth? I’ll be finding cash down the back of the settee to invest again. How often in life do you get a free goal to shoot at? When it comes to mining and pharmaceuticals where all along the road anything can go wrong. Well this investment has the backing of no less the government and a couple of other big backers. I can honestly see x10 plus return anytime after 2025 (as long as the demonstrator is a success)

Certainly that’s one perspective, but as you say it’s very capital intense and lots of things can go wrong along the way.

Just received an update about Cowboy as they are closing off their last round. They have proactively upgraded the share class of all crowd investors, even if not participating in the last round to become preference shares. Cowboy started their crowd funding journey really really badly but do seem to have got better at comms and how to respect the crowd. Unless I’m missing something major :wink:

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If they have any EIS they wouldn’t be able to do it I believe.

They are a Belgium based business so never been any EIS.

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Does anyone have a subscription with the times that can fill me in with this story

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Cornish is now listed as “coming soon” on Crowdcube. Wonder which valuation they will use for the round…

The retail offer was discussed in a notice from the 10th Aug. For existing and new shareholders its looking like it will be at 20p per share - in line with the recent transaction price

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So £180m as the Times suggested?

Interested to see more operational information. One of the reports mentioned 7,800 tonnes from Trelavour alone, which at current spot prices is over £200m a year.

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They raised far too much money at a far too high valuation during the peaks of the market and they’re trying to raise at an even higher valuation. The campaign is the perfect example of Seedrs misrepresentation: £3,083,755.26 is from previous fundraises and this campaign’s target (£3.2m) represents an additional £100k. The £3m was already reflected in their company accounts for 2022 because the capital is that old (“received” in 2023 is doing a lot of heavy lifting). The founder owns barely 1/10th of the company. They borrowed money too, after spending multi-millions to build a bottling plant and are burning hundreds of thousands per month. They’ll be in administration within a year.