By Nigel Somerville, the Deputy Sheriff of AIM | Saturday 9 January 2016
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
AIM-listed Reabold Resources (RBD), with just £294,000 of net assets as at June 2015 is another of those sub-scale investment companies which would have to be run by Warrne Buffett on steroids in order for it to generate enough money just to keep the lights on. Yesterday at 5.45pm on a Friday, with the shares having closed for the day at 1.25p (valuing this fine enterprise at £3.5 million, according to ADVFN), a no-one-is-watching o'clock RNS announced a placing of 40 million shares at just 0.5p to raise £200,000 - a bit of electricity meter money. Something for the weekend, sir? Yes please - I'll have a nice spot of dilution at a whopping 60% discount.