Member Info for Bannor

Ivy - the JV assets are only worth millions if a successful sale or earlier exploitation of them is realised... the direct interest assets we've purchased are all on their knees & worth significantly less than we paid for them.... Gobby failed us his Minigases are failing us ... however whilst we have Sonora (which I hope is being discussed by BCN as a sale) we have hope ... providing our BoD stop throwing our money into shares that fall.... all they have proven to me since Gobby the house Elf left is that their mining &,financial experience (nee expertise) when it comes to investing in companies is no better than mine .... otherwise they wouldn't have paid significantly more (& sold for considerably less) for our direct interests than they're now worth.

Roll on the sales of the Sonora JV's & Yangi if they can agree a fair value...

Only another 2.06p to go for the 'big' options PMSL :-))

..... ahhh finally we're back, not an overly accurate observation Mrs B LoL..... done up like a kipper by the LSE Gremlins :-)

....& yet despite several 'spectacular' high grade results not a single trade all day on the back of it....

LoL fair do's :-)

...is it possibly to do with the funding & certain investors wanting something tangible documented on their own forums??

LoL @ Dallas ... now that is about as true as the truth on national honesty day ...

I really can't see it going down if they get funding to progress even if they raise at a discount it's a complete game changer for them ( they might have been in a better position if Kiran hadn't torpedoed their SP (as he did ours previously) in his now 'missing' webcast the clown ..... our own position was very different when Hanwa jumped on board now it's just about the value per BCN share & has been for some time....

I really don't know why anyone's bothered over much about the 'dilution' of Bacanora it's a long time since our % holding of them meant anything ... now it's just a monetary value per share & that's all that matters so if it goes up on 'dilution' for progress that can only be good for us in terms of pennies on the asset register - who cares now whether we hold less than 6% of the existing sharecap or less than 2% of the diluted if the price per share goes up...

...end of Feb ... said at the time 2.18 was pie in the sky whilst others were purporting it was cast in stone because it was there ... now there's dreaming for you :-) ... .92 looks like pie in the sky too now in my opinion.... WOW what a BoD .... hung themselves high & dry on the Iskander deal bunch of clowns....

Fantastic eh ...... look at our SP!!

....I should add that I also haven't given up all hope of getting my money back .... just any profit LoL :-)

Not so well explained .... the first mistake is in the first sentence where I said when they want to 'borrow money' which infers a loan & it'll be given back ... it should of course be replaced 'raise cash via a share issue' ....

All the best just a 12 bagger for me ... not holding my breath....

JZD - when a company issues shares it is a requirement that existing shareholders are given first right of refusal or put another way when the company wants to borrow money they have to give shareholders the option of participation in a share issue....

So having voted to allow them to issue shares to raise money (assuming the resolution authorising the BoD to issue shares to raise funds is approved) as it stands they would have to offer them to existing shareholders first....

... this is where the disapplication of pre-emption rights comes in under a separate resolution which means (if carried) the BoD have the ability to issue & raise shares with whoever they want at whatever price they agree without further consultation with or additional approval from existing shareholders.

So the first resolution authorises the issue of shares
The second resolution means they don't have to offer them to existing PI's or gain any further approvals.

There's PRO's & CON's as with everything, if you vote yes to the first & no to the second it means they can raise funds under a share issue but have to offer them to existing PI's first (which of course could be underwritten if someone(s) are prepared to do so in the event if a shortage in take up)... however this can take time, resources (money) & effort to do so, everyone knows it's happening months in advance which can play havoc with the SP etc etc.

Vote yes to both & they can negotiate behind the scenes without anyone's public knowledge & then simply announce how many shares have been issued for how much as a done deal one sunny morning which makes it more dynamic, saves time & much less hassle ..... or alternatively in EDL's case they could announce late on a miserable Friday if it stinks so much it's just gonna f¥ck up everyone's weekend instead.

So take your pick, vote yes to both allowing them to issue shares Willy nilly with whoever, to the best of their ability (hmmmm) .... vote yes to the first & no to the second which means you have the opportunity to participate but they have to alert the market months in advance that they need/want to raise cash, or vote no to both &,strangle their ability to raise cash through a share issue if they need to.

Agree Degsie...

It's nothing just the required quarterly activity & cash flow reports.... nothing new & the SP hasn't budged (well it wouldn't on no trades) so still worth a third of what it was worth when gifted to us & Gobby our ex house elf is still Exec Chair.

Showing further investment in NXT

http://leedresourcesplc.com/announcements/31012019%20LEED%20RESOURCES%20PLC%20UPDATE%2031%20January%202019.pdf

#metoo ...

Don't confuse the repayment structures for the drawdowns.... also no EGM/AGM called yet to authorise the issue of shares in payment:

The Face Value of the Initial Loan is US$900,000. Commencing on 16 February 2019 the Company will repay the Face Value in monthly instalments equal to 1/20 of the Face Value (US$45,000) ("Repayments"). At the Company's option every month the Repayments may be made in: cash (at a 3% premium to Face Value); or in Shares (priced at 90% of the average five day VWAP chosen by Lind during the 20 days before issuance ("Repayment Price")); or a combination of both;

Diazepam ?? LoL :-)