Member Info for Bannor

Ivy - last year's authority to issue shares expires at this AGM - an authority also includes shares issued/committed to other parties over & above placings so how many have we issued for San Luis/Oz assets as they need to be added....

Ifonly.... yep that's one of the reasons given on the RNS if you take everything you read at face value....

....they haven't asked for authority to issue £500k at nominal because they don't need or intend to use it....

Our SP might've improved/held better if the request wasn't there & it was considered we didn't need it as we didn't need to raise ...

Degsie ... it's from from unlikely I'm afraid & it's pretty much a certainty unless they sell something for sufficient value that negates the need to ... they've got debts to service, funds to find, salaries, overheads & other running costs.... so unless they sell something it's just a question of when they raise & what the SP will be at the time in my view.

The 6/7 years for feedstock from the JV Areas comes from the mining schedule ... conveniently not mentioned in the annual report perhaps ...personally I don't think it will be that though as I think Ganfeng/Hanwa will want to accelerate & increase production but essentially I'm hoping Ganfeng will buy us out of the Sonora JV's much earlier in any event.

As to Greenland it could be worth a lot assuming we still hold the licence we held on to ....however it could equally be wortth squat as there's been no drilling or real activity for years & the GL authorities probably want to lease it to someone who might actually do something with it so they may not renew our licence....haven't looked at it much recently.

Yangibana I seem to recall Kiran indicating a value in excess of $200M in his view however that doesn't seem to be anywhere close to what HAS might be prepared to pay for it & again it's even further down the road for exploitation under the current mine plans published than Sonora.

But don't put too much on what I post as It's just my thoughts, opinions & hopes which many don't like or agree with as it's not filled with the thrills & frills many just want to post & see....

...

It's 30% of the 12% less costs .... 12% = $150M 30% of that is $37.5M less costs & taxes etc say ~ $25M ... however the JV portion of the current mine plan isn't currently scheduled for use until year 6 or 7 ..... of course that's all subject to change & what Ganfeng want to do ..... personally I want them to buy us out for £100M…

So I think you might be getting the share price (SP) mixed up with the nominal value.....

Today's nominal is 0.01p or £0.0001 if you prefer
Today's SP is currently 0.105p or £0.00105

Post 100/1 consolidation (if it happened today at current prices)
The nominal value would 1.0p or £0.01
The SP would be 10.5p or £0.105

They are asking for 'authority to issue shares at the Nominal value' not the SP at the time which is the only way they can do it because the nominal is fixed whereas the SP variable .... so when exercised they will issue in relation to the SP at the time & the nominal doesn't come into play ....unless the SP is less than the nominal when they need money in which case you get into consolidations/splits & different classes of shares to reduce the nominal value so they can raise again... however that normally precedes the total collapse & death bell in my experience ...unlikely to happen here despite the Minigas BoD!!

Yes yes that's all in the RNS ...however it's what's not in the RNS.... either because it's unknown OR not included OR will he termed as 'unexpected' in the future ..... is what would be of concern to me

Si they are asking for authority to issue £500k in shares at the Nominal value....

Today's nominal is 0.01p = potentially 5 Bn shares ...50% ish of today's SCAP.
Consolidated nominal is 1p = potentially 50M shares ...50% ish of consolidated SCAP.

When it comes to an actual 'raise' they will raise at what the consider to be the closest (& most beneficial) discount to the SP the previous day or similar (or that's how they'll position it at least!!) so as an example if our SP drops from say 10p post consolidation which it might to say 7.5p they could raise at 6.8p giving the participants a 10% discount .....if exercised the whole authority of £500k nominal at that the money raised would be 50M x 6.8p or £3.4M...... if the SP rose post consolidation to 11p & they raised the whole authority at say 10p ...again a 10% discount for the placees they'd raise £5M.

It wouldn't happen that way as its unlikely they'd use the whole authority in one raise but as an example it works....

Frankie ...of course that should read:

Frankie .... if they had authority to issue £500K at the 'nominal' today it would authorise them to issue up to 5 Billion shares ....

Apols Mrs B missed your post in my reply to Frankie .... oh I think the Deal is real not even the minigases would be that stupid ....what I mean is I don't think the consolidation is taking place because of Amapa as some have alluded to (whether the minigases or posters) & ....I've got my fingers crossed/hoping for something else entirely will occur....

Frankie .... if they had authority to issue £500K at the SP today it would authorise them to issue up to 5 Billion shares ....

..... all well & good but as I indicated previously if this was such a sure fire, nailed on money maker why would someone like Indo Sino trading shake hands on it with a minnow like us ....surely they'd either work out a way to keep all the benefits themselves or shake hands with someone who can just put their hands in their pockets for any money required rather than screw their PI's out of more.

There's risks here as far as I'm concerned (which might or might not come into play) that's not being talked about/aired & that's why we've been allowed on board in my view & why the market hasn't yet given it a massive thumbs up in terms of the SP.

Frankie ..... extract from one of my previous responses:

" the potential to dilute by 50% comes from resolution 5 ..... the authority to issue up to £500k at nominal value (nominal value post consolidation being 1p) = 50M shares which is near enough a 50% increase on what would the consolidated SCAP currently."

...however whilst they have the authority to issue additional up to 50% of the current SCAP at the then consolidated nominal value (1p) shares wouldn't necessarily be 'sold' (or issued) for 1p in a raise as they would sell (issue) them for whatever price they can achieve at the time in relation to our SP at the time....

For instance the nominal today pre 100/1 consolidation is 0.01p however the last sale (issue) price when the directors bought (with salaries we'd effectively paid them) was at .11p.

So if res 5 is passed they have the authority to issue up to 50% more shares than what will be in issue post consolidation .... how much in monetary value that will raise In 'value' depends on the SP at the time of raise & the discount given to their/the brokers mates, buddies & usual beneficiaries of a raise if resolution 6 is passed & they effectively lock us out of any raises & they're delivered as a fait accomplis as they are now.

Now as to potential I've yet to see the SP respond well on an AIM Minnow share post consolidation & of course I've said a placing will be at a discount .....OBS however will probably try & convince you somehow that when it happens it will be at a premium to what it is now, will be then or what it was 5 years ago...

Take your pick....but I believe the consolidation for Amapa is smoke & mirrors from the Minigases & think we need something additional & significant to occur before our SP will surge on the back of it .... like the sale of the Sonora JV as that's what will also see the back of me...

Grrrrr Saints Nickel project.....

Drilling within 2 weeks at Saint Nicholas...

https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02142776

....LoL ... not sure who you're agreeing with Daz but I guess it'll all become clear by the end if 2021 but hopefully I won't care by then as they'll have sold the Sonora JV's for £100M + ... :-)

You're correct I was wrong It's $168M not $163M ....what part of '"FURTHER" CAPITAL INVESTMENT' are you thinking means it includes the $60M stockpiled revenue for restart as below extract......& the assigned 'debt' needs repaying its not money owed, from memory of the 'detail' there was a prescribed repayment schedule as part of the submission documents for the JRP.

But you think/believe/interpret as you wish ..... as will I

It is estimated that these stockpiles have a net realisable value of approximately US$ 60 million, which will be reinvested in the restart of the Amapá Project.

· Further capital investment of approximately US$168 million, of which it is estimated US$61 million will be spent on port rehabilitation and US$47 million to be spent on plant recommissioning.

Personally reckon it's better to go to the source rather than a tributary:

https://www.londonstockexchange.com/exchange/news/market-news/market-news-home.html?&page=2

Personally I wouldn't put any store or faith in anything Lenigas states ....the RNS clearly states that stockpiled revenue will be reinvested in the restart of Amapa & that a further $163M is required to bring it back into production in 2022 .... there is also an assigned debt to the JV Co of $49M as far as I'm aware so a long way to go on an uncertain path with potential risks & a lot of money required.....if this was such a sure fire thing I'm not sure an AIM minnow like us would've got a sniff.....

Come on Ganfeng a £100M buys you 30% of the Sonora JV's .....now that'd really make my day ...