This macquire bank pp already in document that 10 million is for the gold exploration works at bukit ibam. Gold is definite. You no need question about gold. Macquire will help you query where their money goes. 10 million for gold exploration. Then the scale should b large n huge.
The proceeds are intended to be utilised by Bornoil Group in the following manner:-
1. Business expansion and/ or new investments*1 Within 36 months from the receipt of placement funds RM20,000,000
2. Gold exploration works at Hutan Simpan Bukit Ibam, Mukim Keratong, Pahang ("Plant")*2 Within 36 months from the receipt of placement funds RM10,000,000
3. Working capital expenses*3 Within 36 months from the receipt of placement funds RM12,410,000
4. Estimated expenses in relation to the Proposed Subscription*4 Upon completion of the Proposed Subscription RM1,000,000
(i) Launching of SugarBun e-wallet platform 0.25 (ii) Expansion of product offerings within the Group's food and franchise operations ("FFO") business segment 50.00 (iii) Setting up of 5 new shared kitchen centres in Malaysia 3.75 (iv) Setting up of new central kitchen and warehouse in West Malaysia for its SugarBun retail segment and upgrading of existing central kitchen located in Kuching, Sarawak 10.00 (v) Setting up of new Sabasco Chilli Plant for the production of new in-house sauce 12.50 (vi) Development and construction of SugarBun stand-alone outlet in Sabah 22.75 (vii) Funding of operating expenses for the Group's FFO business segment 0.75 Total 100.00
I think it won't affect the price until the PP is finished. Its only shows Bornoil's future plans regarding the capital gain from the Mcquire PP. Its for long term. Oh Yeahh. Long Term again. He He
PP take 12 months to complete. 36 months to start mining. I already stuck 4 years. So total 8 years my investment in cold storage without any earnings.
If the new pp exercised done daily, with a big chunk of new shares listed, the pp i think will be finished ealier than 12 month. The fund is Mcquire, a big fund institution.
Very nice today with such big vol and big buyers eating up the sellers in huge quantity. It seems only retailers are selling not big boy. Buying by big quantity surely by big boy. Good luck to all of us.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
singkalin
544 posts
Posted by singkalin > 2021-03-12 16:41 | Report Abuse
But Esos 33m.
And more coming.