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£6.4m Gross... sj74. Loan to be repaid and costs to be deducted. So net proceeds will be less...
One pertinent 'fact' I don't think he's been willing to disclose is did he (Pocko) take part in the fund raise...or are we not to know that, is that much too confidential?
More sad stuff from Pocko then...his version of 'the facts'...another rambling.rant.
*past
jonnyr
ok cheers
and yeah,ya never know...theories,arnt a science.lol
I mean the rights issue and offer shares aren't admitted to the market until the end of this month. The buys the passed few days have been nice and will hopefully help towards cementing a bottom. I'd be surprised if it drops below 2p now. We have c£6million in the coffers with a market cap around £20 million for the assets we have. I quite like the odds around here.
Trojan, I expected the share price to dip below 2 as the rights issue got traded but it is notable that the buys in the U.K. suggest someone building a position- green shoots or false dawn??? - but you might be right calling the bottom here
I'll continue to be a critical friend EricDraven...
This isn't a game, or a way to pass the time. You own part of this company. To simply accept poor performance without any degree of critical analysis of the information posted in RNS makes absolutely no sense to me
This isn't gambling with the housekeeping, or a cheeky punt on the horses. Some investors have real money invested in this company and deserve factual and concise information within RNS.
Blind faith, hope, trust, the summer solstice and lucky heather have no part in making investment decisions.
My posts are almost exclusively fact based, and will continue to be so. Likewise, I respect the posts of persons that post in the same manner, irrespective of their viewpoint - I don't need an echo chamber, just sensible and informed debate.
The fundraise does not draw a line in the sand from which point everything will be better. In fact, there will be further fundraises resulting in a further dilution of your holding, and at some point a share consolidation, meaning in the future, you will not have a million shares in BEM, more likely 10's of thousands - Rinse and repeat.
Vardar farmed out would not result in a huge payday, given that we own roughly 65% of the company. With costs for an IPO, plus the buyout of the outstanding 35% owned by the founders of the company (who have already received a handsome albeit unknown profit for their shares from BEM), we would be lucky to get our initial investment back - Of course we would retain a shareholding in Vardar PLC, meaning as an investor, we would be tapped-up for their operating costs by a rights issue or loans, just as we are by BEM.
The PFS will be a significant event, but it's value to shareholders is at best an unknown. The environmental permit application involves fieldwork, but is by and large a paper excercise - The true value of which will not be known until we receive the actual permit, which is of course beyond the control of Budge - Much like the issuance of the exploitation permit.
I standy by for the 'but Kurt said' responses...
chart wise
2.10,,,could be the bottom..imo
Suz - my reply was far from abuse, I was simply surprised with your very short reply to my genuine invitation to describe the timeline and metrics that made you so upbeat about performance to date. I'd never filter you, your comments genuinely make me smile as you've never really been critical of Kurt despite some serious questions that ought to be asked of him! I love that kind of faith and I know that Kurt certainly appreciates it too!
Guns...you're on point bro...welcome to the BEM family...everyone's related here, mostly through pain but possibly blood too!
Guns, yes, the use by BEM of PrimaryBid was a slap in the chops for existing holders with ISA accounts. Frustrating. Not all brokers got involved with the corporate action, so for some shareholders it was an unnecessary faff to have to use PB and then do a Bed & ISA.
I hope any future fundraises will be directly via our own brokers.
Anyway, welcome to BEM. Good luck with your dabble.
Pocko, well it may get worse, but it’ll surely then be an overreaction. The fact is that the underwriter wasn’t triggered, we did well enough to avoid that failsafe, and we have work planned on our main, major asset. Once the placing shares are incorporated into the total in issue then perhaps we can look ahead eh? Kurt has mentioned the completion of the PFS on KN as being an inflection point, and the commencement of that ball rolling isn’t far away.
He will have to find a way of bringing back the confidence, and by separating Vardar and us reverting to a wholly Scandinavian resource focused company, I reckon that could work. We know the Finland and Sweden projects are earmarked for the same timeframe. Also a bonus, parallel management with the green transition common ground.
I’m trying to look ahead with a bit of optimism. I’m not sure why anyone who chooses to remain invested would not now do the same. We’ve shouldered the blow of this messy fundraise Pocko, I’m far from happy, but let’s now see what can be achieved with the money raised.
Eric
PB placing so its 2.06p.. Trouble with PB is you cannot put it in an ISA. Tax man squeezing the CGT. ISA is best...
Let's hope not. Has to bottom somewhere and I reckon somewhere in this quarter. Rather buy now whilst confidence is low personally.
The irony being of course, that there is no discount to the market.
11-months on from the issuance of the exploitation licence Could it get any worse?
One day Eric.... I'm convinced :/
SJ, you did well. It’s about time. Lol.
I did say it may be tough this week. Lol.
Could be worse Sooz. At least he didn’t say Great Great Great Grandmother.
Aye exactly Eric a few of those trades were mine as I couldn't justify withdrawing from the ISA to fund the offer. I'm glad, though wasn't hopeful I could get them on the open market at similar price to the offer. :) It can go up 10 fold now :))
Good post SJ. Quite a few blue 100ks here today too. Just a pity they didn’t go to the company. Difficulties using PrimaryBid instead of only our brokers will have persuaded some existing shareholders on the borderline of taking up the offer to not be ar5ed. Lol.
So some might be buying ordinarily today. Good if so. I know you added a few more to top-up your offer shares.
A new form of madness. Lol.
Oaktree...Despite my better judgement I responded to your request with due courtesy and the response was abuse..you know perfectly well that I have no connection with Kurt whatsoever. And that is the last reply you'll ever get from me...take Pok's advice and do yourself a favour, put me on filter.
On a side note Sweden seem to have more appetite for BEM which is good and liquidity over there isn't bad really. Plus they were a touch up today as opposed to 10% down here. Considering what money was raised, I'm hoping it'll all be used on Kallak permit, start PFS, and some drilling on Kal south and maybe a touch for the graphite. They can spin Vardar out and they can raise there own money on IPO. Let's hope.
Aye Guns, good not to increase your average, but I can see why it does occur, if a business is well managed with a decent asset base. Confidence is a massive driver, either way too eh?
So I’m hoping you’ve got a great price with BEM. I think the criticism of our CEO is apparent, the fundraise uptake wasn’t ideal, but still significant monies, so it’s what he does now we have the funding behind us that matters from here. We have a plan for the year and that’s good.
Best of luck to us.
Oak
Cash burn and cash runway is a prob in your head here your investing in the wrong stocks bro..
Suzy is a mum to the boss? That what you sayin Or I'm not gettin your drift wrong bros.