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mjng totally agree with gra1969 excellent post and hit the nail on the head, for me at least. i3 is where our money went and hopefully a N Sea well producing anything from 6,000 - 10,000 bopd ( accepted average approx. 8,000 bopd from North Sea wells). I personally thought rto would not happen so this is as you say a bonus / icing on the cake. We could end up with getting all our initial investment outlay from Gwik / Cora and still have i3 tor investment growth or vice versa depending individuals circumstances. Excellent post. atb
Well said :)
Good Morning Everyone We are getting a little caught up with the figures I feel, it is becoming like an episode of Countdown!!. Let's deal with I3, I am not personally looking at what I am receiving, I am more excited about what I could receive i.e. the potential which in my view is massive. The deal has presented us with a wonderful opportunity and I for one am going to sit tight on my I3 shares which have been presented to me via a good initial deal. In my view it has potential to multi bag many times over if the drill goes well and the results are what the I3 board think they could be, it could grow very big indeed presenting us with an opportunity to make some huge profits, life changing in fact!!. The side show is the gold deal, to me it is very simple, it is a bonus that could also do very well, however my eyes are firmly fixed on the I3 pot!!. AVD is clearly running the show, please take time to punch in her name in Google and have a look at her track record, I think you will find it is very impressive. She also has a very strong reputation in the city!! Instead of all trying to be Carol Vordemans we should relax and look forward to our journey which could be very rewarding indeed. Thanks
Our £1.1m investment in I3 was at approx. 0.05, and so a 50% reduction in our shares in i3 means a 0.1 SP (£2.2m in effect). The issuing of 230m shares to raise £130k however has meant that the initial SP is in reality worth 0.9p and then when you add taxes into anything you're left with about 0.7p and so your 50% reduction is more like 25%. Understand that? As for the gold, if Cora are getting 91% of GWIK, then in effect; even before any fundraise, our shares will be worth nothing in CORA!! Hope for some good i3 news!!
If you have 2m in Gwik you will still have 2m after the i3 ipo because that has no bearing on your gwik holding. What will have a bearing is what happens before during or after any potential transaction with Cora. I expect a 100:1 consolidation. So you would have 20,000 shares at a price 100 times higher.
There are already 2.4bn in issue. And they are giving the owners of Cora an amount of shares representing 91% of the enlarged share base. It's pretty simple mathematics. They are giving Cora approx 23bn which means the enlarged share capital will be approx 25.4bn. That's ignoring the 260m just issued, 23bn out of 25.4bn is approx 91% no? Do you want to try again with your 2bn? They give Cora 2bn...so then there would be 4.4 bn in issue. And Cora would hold less than 50% of the enlarged share base.
Kinda sad when I try to point out the facts and I end up get criticised and filtered by people more intent on sticking their heads up their backsides. I actually have a holding here. But you know....instead of trying to present some reality...I'll just pander to some Portsmouth hard of thinking instead
think in terms of money. if you have £1000 of gwik shares at today's price, you'll have £2000 if i3 shares roughly. that might be 1 share worth £2000 or 200,000 shares worth 1p. just think in terms of value.
Sorry but getting confused, could somebody explain in simple terms, if I have 2m shares currently in Gwik how many roughly will I have after IPO with i3 then how does it work following RTO with Cora moving on?
Been doing some research and there is a good amount out there on the licences. A lot of money has been spent on exploration already. Looks as though Hummingbird wanted to concentrate on their mine construction and decided to let another dedicated team take over the non-core licences. Kola had to raise $4m minimum in order to complete the deal. No where did I see the deal completed to amalgamate the companies. Can only assume this is where AvD has came into the picture. There is reference to being able to use Hummingbirds processing facility, therefore reducing capex. Wonder if that is still available as would seriously cut capex and time to production. Grades don't appear overwhelming but look robust and can only assume big potential upside. Big question is how much will this company be valued at? £10m perhaps? If that is the case, then 0.10 will be returned to shareholders through i3energy shares and a further 0.05 will be owned in Cora Gold.
So nothing to do with this then?! Subscription for shares in Glenwick plc ("Glenwick") Paternoster is pleased to announce that it has subscribed for 260,000,000 new ordinary shares in Glenwick plc, at a price of 0.05 pence per share for an aggregate investment of £130,000. This will give Paternoster a 10.6% shareholding in the enlarged share capital of Glenwick. The funds provided will be used by Glenwick for general working capital purposes and to progress the proposed transaction that has been announced today.
Hi Roy..been here a long time so appreciate your posts and mikers etc all good stuff..hate negativity..always look for back up figs..think we are on a roll here though..light at the end of the tunnel now good luck matey and all you POSITIVE holders..pompey
But isn't 91% of share capital not 20Bn as Randall stated but about 2Bn?
Surplus to requirements..filtered
What will be the sp when we relist I wonder
So we will own 9% of the company not 100% but effectively the newly expanded company will be worth approx 1000% more so we will still have the monetary value but not the %tage we had.
The owners of cora get shares in Glenwick. In return...Glenwick owns cora. The new share base will be a lot bigger. A consolidation will be needed. Current share base is 2.2bn. the shares given to cora owners will be 91% of the enlarged share base so that would have to be 20bn. 20/22. expect a 100:1 consolidation. Basically this means existing holders will end up getting rinsed as further dilution on the consolidated share base is a certainty.
Through this board just like to say a big thank you to Japp for directing his energies and expertise to GWIK an incredible guy who has set us up for the future..love to meet you someday and personally shake your hand. Jaap..every best wish for the future matey..pompey
Kev, your not alone, it's all confusing to me, if they use the money on cora where's the dosh coming from for i3?, I'm just waiting now to see, to much effort for me but I'm pleased that something is going ahead.
can anyone explain this paragraph for me please. I have tried so not being lazy !! lol "Under the Proposed Transaction, Glenwick has provisionally agreed to acquire 100% of the shares of Cora Gold, for a consideration of Glenwick shares equivalent to approximately 91% of the enlarged share capital of Glenwick should the transaction complete, prior to any new capital raising concurrent with the Proposed Transaction."
Just trying to catch up as only just spotted the news today. ;)
what is the deal with PRS?
Cola shares probably have a bit more fizz than Kola :¬)
lol