London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
RE Tue, 29th Mar 2022 07:00
RNS RNS Primorus Investments PLC
A pretty good outcome I would say, getting Bushveld shares at .098p. I am also a holder of Bushveld and strongly believe the current sp of Bushveld to be under valued at .12 (current range ) recently been over .14p. Another liquid investment to get Primorus to be valued closer to net asset valuation rather than the undervalued situation we are at. Just hope we don't get tangled up in murky investments again.
https://www.lse.co.uk/rns/BMN/update-on-vrfb-holdings-investment-bkuhr2641i3jvrq.html
Update on the VRFB Holdings Limited Investment by Mustang Energy Plc ("Mustang")
Bushveld Minerals Limited (AIM: BMN), the AIM-quoted, integrated primary vanadium producer and energy storage solutions provider, with ownership of high-grade assets in South Africa, hereby provides a further update, following the statement on 18 March 2022.
As previously announced, one of the Mustang convertible loan notes ("CLNs") holders, Primorus Investments Plc ("Primorus") elected to exercise its backstop arrangement in relation to its CLNs (nominal value of US$1.5 million plus accrued interest thereon). Bushveld intends to issue a convertible loan note to Primorus as consideration for Primorus's CLNs, with further details to follow.
Mustang has negotiated terms in principle and subject to contract with the holders of the CLNs, to provide for the extension of the Maturity Date of the CLNs to facilitate the proposed readmission of Mustang's shares to trading on the Standard List of the London Stock Exchange. The terms have been documented and relevant documents are currently in the process of being executed by all parties. To allow time for execution to be completed, Bushveld and Mustang have agreed to extend the notice period for Mustang to issue notice to Bushveld in respect of the backstop (as announced on 19 January 2022) until Monday, 28 March 2022.
The Company will provide further updates in due course.
Spacs not spaces!
Pity, I was hoping there was some master plan with those spaces!
Looks like the SPAC subsidiaries are now redundant - similar filings for all.
https://find-and-update.company-information.service.gov.uk/company/13165030/filing-history
Presumably PRIM no longer has use for them.
Could we read into this that Alteration Earth plc is now moving ahead to IPO - or is that a step too far?
If you create a limit to buy and put the price as the current sp it may be easier, may need to do it in chunks if you want to purchase a large quantity. Failing that give them a call.
Am interested in topping up but haven’t been offered a buy quote for more than a tenners worth for the last two hours even though I can get sell quotes for all the 267k shares I hold! Is this normal for this stock? I use HL.
Thx
CPH2 RNS on acquiring a new international customer (ATOME Energy): https://www.lse.co.uk/rns/CPH2/new-purchase-order-from-additional-customer-m4n10mb9cd1t8sk.html
May be nothing, but Confirmation Statements are overdue for all the SPAC subsidiaries. They should have been filed around 10-2-22, but CH are still waiting.
Yes, why would they cancel? There is no apparent reason to.
I can't help but feel that there is a larger picture here, that as yet we cannot see.
No doubt all will be revealed in due course.
Be good to have some further information on how / why this decision has been made considering our current team issued the options to themselves. A good result for all shareholders in the way of no dilution but are our current BOD (other than Rupert who has a considerable holding) going to be happy with their £30k a year? Maybe the plan is for them to purchase some shares on the open market?
Interesting RNS but more details needed. Thanks.
Another reason that we should all believe that Primorus is in very good hands for the benefit of all shareholders. Be interested to see the outcome of the Mustang/Bushveld backstop arrangements.
*minimal future dilution
12 million Share options cancelled - positive move to ensure minimum dilution going forward...
Normally a volume weighted average over a number of days before share allocation and Prim may not have elected to take all the CLN as shares.
Not necessarily, as great as that would be my understanding is that BMN can elect to pay us back the money with interest instead of shares
Prim exercised their $1.5m in bushveld last week when the price was 9p . The price of bushveld is now 15p so prim stake is now worth $2.3m . Wow
You can look back at recent posts by RKBeekeeper, he has some good calculations for NAV, but it is about £10mil so almost double current sp
Does anyone know the NAV of this company. It’s starting gain a bit of investor interest but I’d like to know the NAV before investing.
Totally agree. This stock cannot stay so far undervalued forever. Surely this BoD will gain trust from the market. Hold tight!
https://www.lse.co.uk/rns/MUST/vrfb-h-successfully-defends-litigation-4nflgren33omayi.html
We have already enacted the backstop arrangement so quite what this means for us I am unsure. 2 possible options may be; BMN and MUST may choose to allow us to rescind our request to enact the backstop and we invest in MUST or our BOD may wish to take the cash + interest and invest it elsewhere. (In my opinion BMN are unlikely to issue us with shares as it would be at a significant discount to current market value).
Hopefully or BOD and Mr Holden can find our best options going forward and inform us in due course.
It's just been announced that the Garnet claim against Bushveld has lost so Mustang can now proceed. So whether our investment into this now proceeds or the CLN with Bushveld I don't know. Time will tell. Should create some buying activity
One thing I would say is don't sell your Prim shares they will be worth a lot more in the future.
SP up at the moment. Are we about to own a shed load of BMN shares?
Now up to 0.70 (55%) the 2.2m share purchase for 1m now worth 1.5m