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This really does have the makings of a huge prospect that keeps getting better and better all the time. Just one problem, they need to get the drilling application approved and get the first couple of wells drilled. Only when that is done can this truly take off - though I do also see a big HE1 Tanzania first drill type rise in the run up to the Hussar drill, which cannot be far away now.

ATB

You won't be saying that if the share price goes up by 100% today. An offtake offer that includes funding.

Drilling is just re-entry. There is nothing to it. The drilling approval must be imminent.

Mind you, it is still quite barmy to be sitting on a potential fortune's worth of Helium and to be taking quite so long over the initial paperwork. HE1 took 7 months from their IPO to the spud of their first drill - GEX, meanwhile, have already taken 13 months and they are operating in Australia rather than slow Africa.

A positive update (for a change).

The only better news would be for the drilling application to be (finally) approved and for operations to commence.

³He pricing quoted in 2024 exceeded US$70M per mcf, ~140,000x the value of ⁴He. This sounds so good that there is a danger that the management might put their feet up and take early retirement - oh, but then they appear to have done that already, or are they still at it - work, that is???

It turns out the IG have locked me out for the day for getting too many quotes - they call it breaking the etiquette rules. First time I have ever come across that!!!

Funnily enough, my quotes were only for 10 million shares at a time - a mere £3400's worth at the time. All quite bonkers if you ask me.

Can anyone trade these on IG?

Https://www.investegate.co.uk/announcement/eqs/aquis-stock-exchange--aqse/aquis-stock-exchange-application-for-admissi-/9052114

NUMBER, CLASS AND PAR VALUE OF SECURITIES TO BE ADMITTED:

5,752,423,611 ordinary shares of £0.001 each

So the placing shares are all being admitted and this will be business as usual.

I think that the obvious solution here is for the share to be suspended immediately and then to lift the suspension as soon as trading is admitted to the AQSE market. I'm surprised the management and advisors haven't done this already.

That way the share price won't be decimated, as has happened yesterday, and also there cannot be any talk or worry about the £10M placing defaulting or whatever as all trading, etc will be halted until readmission. There is obviously nothing going with the Main Market now until this share delists so why even keep it open.

I see that Bluebird Mining Ventures (BMV) is down 17.31% today, which is almost as much as the 20.83% drop here. They are also planning a £10M placing to invest in BTC and announced they were commencing drafting a new prospectus on 26th June 2025. They have obviously approached the subject from the correct angle as they are planning to get the Prospectus approval first and then do the placing once that is all in order (unlike the numpties here). They also stated that "Subject to approval of the Financial Conduct Authority (FCA), the Secondary Prospectus could be completed in an anticipated 8 weeks maximum".

However, the drop over there today seems to reflect that they might not get the prospectus approved, though they have not said this or said they might have to relist to do the placing.

However, it does mean that the drop here is more reflective of the time involved in getting relisted rather than any concern over the recent placing, as their similar drop has nothing to do with the prospective £10M placing.

I rang them on this number - 020 3855 5551 - ring them yourself. The shares have been issued but they have not been admitted to trading and now will not be admitted to the LSE Main Market but instead they will be admitted to the AQSE market.

And they are not delisting as such but just changing the listing. I suppose they could equally have just moved to AIM, which would be just the same as the only rules regarding placings on AIM seem to lie with approval by the shareholders.

Just to clarify, I have just spoken to First Sentinel Corporate Finance. The placing shares have been issued so the placing will not and cannot be cancelled. They cannot be issued on the Main Market without a Prospectus, so they will be dormant until admission to the AQSE market on 1st September (hopefully on time) at which point the existing plus new placing shares will all be admitted together and the funds will then be available for use. (I'm assuming Cel Ai have the funds in the meantime but they cannot use them).

If Cel Ai have failed to get their prospectus approved by the Main Market and are now moving to AQSE then this will probably be the same. It is unlikely that SATS will get approval for such a massive raise if Cel Ai can't for their more than 10 times smaller raise. Watch this space.

105 million shares at the IPO placing price of 6.67p gives a m/cap of £7M, which seems quite reasonable.

The best news is that they are drill-ready on one of the prospects - "The Company expects to commence its Phase I Diamond Drilling Programme in the coming weeks to test the Eastern anomaly", - which is great because some of these drills in AUS are taking forever to get started.

The placing was announced on Friday 27th June and completed on Monday 30th June and yet as far as anyone can see the company still haven't got the funds and issued the new shares. It's quite embarrassing and the damned share price is being annihilated by the inefficient goings on here.

I noticed that Stamp Duty was being applied to purchases on IG share dealing and ISA accounts, despite this being admitted to the AIM market. I have phoned them and pointed out the error and the Stamp Duty charge has now been removed. I would suggest that anyone who paid this on an IG purchase from opening this morning might want to phone them and have the charge refunded.

ATB

I am not missing the point as I am looking at this from a perspective of making money from buying, holding, and selling shares in the 2 companies - SWC and SATS. I am not looking at this from a perspective of how well the 2 companies are going to do, how fast they will grow etc, but as a comparison between simple raises and Loan Note conversions and what profits can be made by ordinary shareholders/traders.

The key terms of the Investment are:

● £5m committed investment;

● the conversion price is fixed at £0.002 (nought point two pence) per ordinary share;

Proposed second secured convertible loan note with a minimum raise of £100m

● The conversion price is fixed at £0.01 (one pence) per ordinary share;

See the difference. The £5M Loan Note conversion is at 0.002p. The £100 Loan Note conversion is at 0.01p. Seeing as we all agree that the second loan note will convert at 1p then it is obvious that the first loan note will convert at 0.2p or one-fifths of !p. There will be 2500M shares issued for the £5M LN and 10,000M for the second LN.

It just shows that Loan Notes are not the best way to raise funds for Bitcoin purchases - at least not for existing shareholders.

SWC have raised over £100M - in fact over £150M - but the first £100M was achieved over a series of 8 raises (including the initial IPO raise). After the IPO SWC had 147 million shares in issue and at the time of reaching the first £100M of funding they had 242 million shares in issue. The IPO placing price was 2.5p and the next raise was at 16p. At the time of reaching the £100M of funding the share price was at about £3.00 (having already peaked at nearly £6).

Anyone who bought in just after the IPO or at the time of the first placing (and in fact any subsequent placing) was going to be incredibly better off.

SATS on the other hand have treated existing shareholders with disrepect and will issue 2.5B shares at 0.02p - against the existing 500 million shares before the first Loan Note conversion - and then a further 10 billion at 1p to cover the £100M Loan Note. So they will be issuing 12,500 billion shares to raise over £100M while SWC issued less that 100 million shares which was not even twice the number of shares in issue as against SATS 25 times more shares in issue.

Maybe great for the holders of the Loan Notes but then maybe they will be the next ones to be shafted.

AJMHO

I'm still not sure whether the shares have actually been issued and if not when they will be. Of course, if they haven't been issued yet then why the heck has the share price been dragged down to 0.2p or below.

Also the BTC holding figures are confusing. On 4th July we were told they held 6.1794767 BTC (6.18 for convenience) . Then on 8th July they added another 2.52 BTC to give a total of 8.70 BTC. But now they say today they hold 5.2803802 BTC (5.28). I wasn't aware that selling BTC was any part of the BTC Treasury policy of this or any other BTC Treasury company so I am not sure how they have gone from 8.70 BTC to 5.28.

ATB