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Beowulf Mining - screws shareholders with a placing that stinks to high heaven

By Tom Winnifrith, The Sheriff of AIM | Thursday 25 February 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.

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.

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