Member Info for addicknt

Typical! We get an announcement and the Stock Exchange page goes awol.
Anyway, looks like very good progress at Porvenir. Another Tier 1 on the way?

Si90, this is a valid observation about off-take agreements. I think the difference with the Hanwa situation is that they've invested alongside the agreement; their commitment looks pretty solid and I don't see this as being the reason for the failed placing.
At the time, I mentioned that I was aware of someone who had been asked to take part in the placing, and it was suggested the reason for its failure was that the overseas offices of Canacord were not that interested in the proposition and failed to sell it aggressively in the market. The UK team found a high level of interest and managed to place a fair amount of equity. It was also suggested that the Morgan Stanley report was partially responsible for the lack of enthusiasm.
I was highly critical of Canaccord and remain so. The method of the placing was ill-advised and it was clear they hadn't tested the market. The consequence has been disastrous for shareholders and I would have replaced them immediately. Thankfully, we have Citi onboard now and hopefully they can do a better job.
I also agree that the economics of the project are compelling and the macro-picture has changed in our favour...this has been backed-up by Tesla stating that they expect severe shortages in all minerals used in battery production.
Anyway, the clock is ticking and Secker really needs to deliver something soon. I dread to think what'll happen if he misses his end Q2 deadline.

TSP, as it happens, I have driven one; and very good it was too. However, I didn't buy it and opted for an F-Type R on account of the truly ridiculous noise it makes and the very poor fuel consumption.
Whoops! I'm not allowed to say that sort of thing nowadays, am I?

You've missed the point. Totally.

Have you invested, TC?
Tesla will be wiped-out once the major car manufacturers really get their act together. They'll become the De Lorean of the 2020s.

Fuku has been around a great deal longer than those attacking him. He's a valued contributor to this page and talks far more sense than some of the utter nonsense being posted. He is also very open to listening to people who offer explanations to things; some of you would do well to do likewise.

Taff, I wasn't annoyed with you; it was simply a case of being surprised you even had to ask the question.
Even a cursory understanding of the situation here, and a tiny bit of research, would have given you your answer.
Funding and its quantum, is not news.

bingo, HL are having problems with their live prices at the moment. They've told me that their man with the screwdriver is working flat-out to solve it...after he's had his morning coffee and complimentary Wagonwheel.

pkwendall, I suggest you have a quick read through the company announcements and observations on here. If you've invested without understanding this...well, I don't know what to say.

Exactly, TBT. The Tesla deal helped raise the profile of BCN, but it was a truly awful deal and had the mucky fingerprints of Lenigas all over it. From memory, our share price hardly moved when it was announced the deal had fallen through, which tells you all you need to know what the market thought of it.
Talking of awful deals; I wonder what has happened with regard to the COE arrangement. The company has been virtually mute on the subject. Surely, we are due an update? My guess would be some sort of financial settlement once we've raised the cash. £10m to bugger-off?

you ought to have a quick look at just how badly Tesla is doing. It's currently looking as if they'll need another $1.5bn just to keep the lights on. So the chances of them bunging any money our way are zero. It's a stock I wouldn't touch with a bargepole.

Fuku, your point 1 is correct, but point 2 is wrong.
To be honest, I've never really understood the pricing of nominal values, nor the legal parameters. I've run companies where we've issued at 0.1p and others where we've issued at £1. From memory, we more or less tossed a coin as to which we'd go for.

Mozax, the company is currently out in the market trying to raise the cash. Secker has given himself an end of Q2 timeline...and he jolly well had better achieve it.
On a separate issue, the Morgan Stanley report was enormously damaging for this sector and caused immense problems for companies looking to raise cash. The fact is, they were wrong and given the impetus that's now behind the climate change issue, they look bloody stupid. In fact, I think they could be accused of being thoroughly irresponsible.

Fuku, the nominal value is irrelevant, it's all about the price at which the shares are issued.
Example: the company needs to raise £500m, therefore 500m shares would be issued at £1. In terms of dilution for existing holders you can work-out what effect that would have. (before anyone starts jumping up and down, I'm only using this to illustrate matters)

Are you sure about that? I've a feeling you've got the wrong end of the stick.

Sorry, TSP, ignore my last question. I mis-read your post.

Was that a reply to me, TSP?

Grim, I appreciate what you're saying, but, as I said, I can't think of anyone who currently posts regularly who fits your description. In my opinion, the attacks on them from earthling are unwarranted. For the sake of openness, he attacked me recently for absolutely no reason at all, so perhaps I'm biased.

It seems to me, earthling, that you're incapable of spotting the difference between a shareholder who is positive but asks perfectly reasonable questions, and someone who is blatantly out to deramp a share. The fact you can't differentiate between the two says more about you than it does about others. And as for your reporting of people's observations, well, words fail.
As it happens, I can't think of anyone on this page who could be described as a "deramper" (what a childish word that is). We have many long term holders who post informative and well-argued comments and their contributions are very valuable and most welcome.

please define "chunky", because I can't see any.