Member Info for Banburyboy

Speculative - we've clearly hit a nerve.
You can be in denial all you want but the doomsters have been bang on the money for the last 24 months.
Congo is unlikely to happen. Many moons ago Bell "sold " a Greenland asset. The proceeds were lost in a Cypriot bank. He won't be able to pull another share consolidation but beware the DRC RNS where the proceeds are in the Nigerian banking system. The cap I'm afraid fits.

Helpful.
Mr Bell is not one to understate his perceived value.
He would not need to RNS anything he releases most information by Twitter and formal interviews.
Sorry but if there was even a snippet of good news AB would be milking it.
I genuinely hope you are right.

Karl profit on insurance is seriously down. Probably £80m over the last two years.
That profit was needed to pay bond issues.
Anything we do make from equity release etc in the short term at least will be swamped by very high media / advertising and marketing coag . Question is can it stand alone when advertising tails off. Will it go anywhere near mitigating insurance losses

Illegal miners on site !!!
Agree revenue by April is unlikely.
I am sure Lithium will do well so agree with Helpful. Whether RRR joins the party is as ever problematic.
I think we are rapidly reaching point Company is uninvestable.
AB can't pull off another consolidation so I suspect he will put all the governance together for a private take over [ Diversified Metal Industries] . AB will of course benefit in some way as the company is run for his benefit only.
What's the bets on shares in issue at 30th Sept 23 ? I'm going 2.3bn ?

Billzo- I'm back in inadvertently inherting my wife's shares in a SIPP for a loan.
You are bang on the money. Cruise is booming and they stated in last TU net debt will RISE between July 22 and Jan 23 is eye watering.
Cruise and travel are tredding water but servicing cruise debt which is no bad thing.
Insurance is seriously struggling.
Seems to me they are chucking the kitchen sink at marketing and advertising. Whether that's pays off is a gamble but it's got to be £50m a year. Straight off bottom line. I would love this to do well.

Nothing seems included in SP for positive news Thursday.
Nice words should maintain SP.
Any detail and it could explode. Let's say cap is at prices below $60pboo.
Production cost $16. Save 35% on $44 at 200,000 barrels a day = $3 million a day.
I went all in at £2.37 and really think with POO rising and a solid annoucement on Thursday we could see a step change in HBR value.

I'm with you Terry. Very fearful
Be interesting to see what shareholder returns we are offered in April !
The only question that I don't understand is why Hardys and others voted YES.
Perhaps as we have discussed many times a big reveal will explain all.

A recent broker report gives RRR a target of 2.8p
That was before all the recent dilution.
They put a risk weighting on 80% Congo turns up $10m.
Personally I think it's a long shot 10%.
Price taking a hammering.
Next raise will be 0.1p.
100 million shares to raise £100k and that's without diversified fees and interest etc.
Dilution of 10% per annum just to pay ABs salery.
Needs funding soon or game over.
Speculative you picked a rotten apple her I'm afraid

Some kind of nut. Sorry but I don't think you are close enough to the issue here.
So you say from year end to completion they would have paid say $200m in dividends ?
Norma says all earnings from 1st Jan 2022 accrue to SQZ under the terms of the agreement.
Net debt of Tailwind acquired by SQZ is unchanged between Ist Jan 2022 and completion.
Wheres the profit for the period 1st Jan 22 to March 23 gone.. To Tailwind in dividends. It's not a great look ? And contrary to the agreement.
Norma I respect your view but the sentiment you expressed at 20.18 that all trading post 1st Jan 22 is for the benefit of the aquirer does not ring true. Based on net debt movement of nil between the two points.
If I'm honest I think the reference to 31st December 2021 was a misprint and its actually 2022. Whether by design or mistake is anyone's guess . But an awfull look.
The reduction of debt between annoucment and completion is welcome Amd indicates value in the assets but we need it having diluted heavily.

NSV is identical to Tailwind Energy
Note 22 Net debt of $245m 31st December 2021
Surprisingly high tax charge of $34m for a loss rich company.
I'm afraid whatever it made in the 15 months to completion never made its way to us. Unless it translated into assets that is not net debt (cash and loan).
Norma be interested in what your theory is as it looks pretty unusual to me.

We actually acquired according to the RNS anoucing the deal. Tailwind Energy Investments. Company 12776466. Which was only incorporated on 29th July 2020. Its one set of published accouts redact anything that might be remotely useful and are skin and bones in terms of disclosure. It is a holding company for 100% of NSV energy.

Hi Norma Tailwind Energy

Yes Zumore even by ABs standard this is a shocker.
My figures are also distorted by the shares issued at I think it was about 0.6p so by the time we've paid the first $500m we will have given away 30% a controlling interest. We all know where that leads.
Sadly any transformational news will only stop the rot in terms of source of funding. The funding deal and its onerous terms mean zero chance of this ever again getting beyond 0.35p. Share consolidation excluded !! Sad times and yes there are irons in the fire but the fund raise and ABs refusal to work for free cut his cloath has ruined the company.

Tailwind Energy at 31st Dec 21 had net assets of $400m. No soft items like goodwill so would expect that plus more to appear in SQZs balance.
sheet ? Time will tell .
Tailwinds net debt in the accounts was in dollars at 31st December 21 and in terms of cash on hand netted off against loans was $248m. Let's say £200m. On aquistion its £215m.
Please look at the numbers - far from last year and the three months [15 months] to completion being run for the benefit of the aquirers. That's an awful lot of cap ex and tax for a company that doesn't pay tax for net debt to rise !!
All the facts and figures point to a black hole in this deal.
I had naively thought the reduction in debt was a good thing but it had clearly been managed up prior to the annoucment. Why for the benefit of SQZ not !!!!
None of this sits right at all and not long now until we can compare pre and post aquisition positions and balance sheets. How much tax losses are truly portable as reflected in our consolidatec position write offs of Tailwind assets declining prduction etc .
Unless there is the mythical big reveal !!

Thanks Zumore.
Different interpretation of numbers same outcome - huge dilution.
I am taking 15th March prepaid of $348 000 and deducting fee. I am deducting it as it is due and will be paid in free shares.
So my point is for $270 000 of up front cash we have given up 10% of the company.
Sure there are other ways to do it but the headline doesn't change. Horrible deal at huge discount.
Speculative news has been due here for a long time. You will need at least three of your list to see 0.35p again.

128 million shares issued to Diversified Metals since 15th Dec annoucment.
Shares in issue before deal 1.296m = circa 10% dilution.
Funds prepaid $348k .Less fees due $78k = $270k. This is £225k.
The cumulative issue price valuex to Diversified Metal value all of RRR at £2.25m.
Only $1.2m of facility with diversified metals to go guys !!!. Next issue price won't be 0.18p but far lower.
Closing in on 0.01p and a share consolidation.
Even if we get wonderful news anyone buying it at more than 0.35p which is all on here won't be seeing a profit. Dog of a share
Really bad times for the company.

AJAY - Brainspark is talking rubbish. Zumore has explained.
Things looking absolutely dire - won't be long until the lender takes control. Not bad business for probably a £500k investment.
I'm afraid calling the bottom on this one has escaped everybody for fifteen years.
Would anyone invest at 0.1p ? The funding mechanism is I'm afraid the final death spiral.

GL - Tailwind paid a dividend I think in Jan 22 in relation to the 31st Dec 21 year. It was in their accounts. I raised that point.
Tailwind have no RNS requirements so we won't definiively know if they have paid a dividend. The deal terms preluded it post annoucment - closed box if you recollect!!!! .
In the interests of balance £62m is a good outcome but you can't spin it any higher I'm afraid much as you would love to
Nice to see you contributing some numbers and figures though :)

Hi Norma
To be fair NKOTB did say on the positive side debt is down. So gave both sides of the argument.
I'm sorry but if our comments find them guilty before they have a chance to prove they are innocent.
Your past months of postings are very rose tinted, no qualms no suspicion of any hidden agenda or skullduggery. No crime committed and no surveillance for anything unusual all all in all a good value adding combination..
Perhaps reality lies somwhere between your "blind faith" and our don't trust this mob with there own granny.
I really hope so for all our sakes.
15th April will be interesting. I suspect Tailwinds ramp up will have stalled and we will all question why when Mitch knew he did not stop the deal !! Yes guilty let's hope they prove their innocence and we can move on :)

I was surprised they are still flagging a £10m year on year utilities increase. Post July they should have an opportunity to lock in lower.
Overall good notwithstanding energy impact