Firering Strategic Minerals: From explorer to producer. Watch the video here.
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The lack of response today , apart from BOTS , encouraged me to read his posts.
And I am glad I read the first one.
I would not have a problem with him if all his posts were reasoned out like that one.
His maths were not bad at all but he could have used this link to save some time.
https://tlouenergy.com/shareholders/
As to convertible notes I saw confirmation of one of his figures for the big two but nothing about the overall total of convertible loans and what has already been converted into shares over the years.
I suspect BOT's figures after loans are squared up are in the right ball park, but did he omit new issues from other loanees, e.g. TG and other directors ? I wondered how many different shareholders have convertible loans, and how many shares could result from them.
If the directors who forewent small fortunes in voluntary loss of salary for years had been awarded convertible loans on their sacrificed drops - the numbers would be significant. Especially Tony's huge sacrifice.
Found some interesting info on convertible loans in my search - notably companies can participate in them without having to justify their finances to the loanees - ideal for start-ups who do not have those figures yet!
I cannot find how you source what loans exist for a company, so I guess it needs a trawl through the RNS and Account releases?
I did find an excellent article on the various options , pros and cons etc though.
https://harperjames.co.uk/article/convertible-loan-note-explained/
Annual Report would be where most people refer for company specific financial and operational information.
A$5m convertible note held by Doc; US$5m note held by BPOPF. Clooless will help confuse you with understanding the terms you don't understand.
I think you will find the rest here are pretty 'clued up' on how convertible notes operate as a financial instrument - but thank you for the link.
Not sure why you think Directors and others have note instruments. Even if they did, the numbers of equity issued against these would be a relatively small number.
What I believe you should focus on is that convertible note holders are classified as Preferred Creditors and therefore rank ahead of Equity holders in an orderly wind up or liquidation of the company. Again, this feeds to the 'argument' that TG has 'lost control' of Tlou Energy - given 2 principal shareholders effectively 'control' 55% or more of Tlou. It would be really good if Free would provide his insight and clarity on why he thinks otherwise.
And now to be somewhat controversial - minority shareholders are effectively screwed here. They have been for a pretty long time; just that most here didn't see it coming or couldn't bring themselves to admit it. And sadly, we are all in the small small boat.
Not sure why you think Free has the ear of the board.. I certainly don’t .. But then that’s why you are such superior being to me of course ..
It is so much better being civil BOTS.
Finance does some weird things - I aways assume Bonds and Notes were very different beasts - a marriage certificate versus a few kisses on a post it? The link makes them look the same thing.
I am sure the level of understanding amongst the audience here is at every level - that link is so well written in clear English. And it is now bookmark if I want to view it again , sparing my bookmarks in the browser which are too numerous already.
The directors are given free shares as bonuses from time to time. I considered them to be the same as Convertible Notes except there is no money changing hands like the real thing, and no interest/accruing of shares over time. It was chasing the total number of issued shares after the loans/promises are completed.
I am so annoyed at the media - Rishi Sunak did so well yesterday and he was turned from a sponge to a small waterfall as it rained on his parade! From his reaction you'd never have known it was raining at all!
The media are talking about what an amateur presentation it was - I thought the total opposite!
Why someone did not appear with a huge umbrella to shield him and themself is worthy of criticism.
It would have been a light moment , and I am sure he'd have smiled and shared a joke with his aide about the weather. I was impressed.
I have cancelled my car insurance and completed a SORN. Bike insurance lapses in July along with the TAX and MOT so I'll do a SORN when the tax renewal.arises. Hastings Direct offered to reduce my bike to 3rd party until we realised it was only for 2 months.
I wish I'd just made a case for doubling the steroids to 0.2mg from 0.1mg (the minimum dose though the tablet can be snapped in half). I took 2 tablets after falling in Lidl and the results improved. The seated blood pressures and the standing up readings dropped but were closer together. I'd stil be mobile if I'd done that!
I have never had a problem while seated , so car and motor bike felt safe! All my problems after I stand up too quickly - erection problems I suppose :O) The lack of a dizzy spell is the medical worry - but the medics are ignoring the fact I have been falling on dog walks for a couple of years when picking up poo and standing up to quickly. And seated I am fine. Driving the bike at speed would likely be fatal for someone should I black out - why don't they take that into account - would any sane biker risk their own life and others? I have never had a dizzy spell whilst driving so why would I black out?
Good man Winni - always good when fellow posters join in the spirit of engagement. Just amazes me endlessly why you have little to offer other than criticism of my posts. It really makes this message board such a joyous place to exchange views and opinions.
Free is on the back foot now because he knows he showed his bias in previous criticisms. I imagine if he does post again, he will be more guarded.
Good man Brad - just in case you forgot, you have a pretty foul mouth yourself !! The C-word was used I seem to remember ......... Not your finest moment.
Pot and kettle springs to mind there Bots …