Member Info for Beetroot

... and therefore the current price is well above the new nominal.

Herbert, as you are expressing value in terms of fractions of a pound your error is that the new nominal is 0.0001 rather than 0.001. The share split expressed in fractions of a pound is 0.0024 and 0.0001 which equals the old nominal of 0.0025 of a pound or 0.25 of a penny.

Same number of ordinary shares will be in issue.
It is not 25 for 1.

They've dropped the price hard on a couple of small sells !

The Aussies made money selling legally acquired shares - no crime or rule breaking. All properly announced. Risks were clear.

If you believe your predictions of pending company action then you should also be able to make some easy profit, so stop whinging.

Reported to the FCA, seriously !
If you had any credibility before, it's all lost now !

...can't see any sells on AIM or Aquis.
Odd.

JT signalled this some time ago and in any event is still involved. His intention to step down was not sudden from the board's point of view, but I do wonder if it was brought forward suddenly - the announcement was so stark and can easily be perceived as negative in its lack of context or reassurance - so much missing. Clontarf companies are not great at announcements or investor relations (with the one absolute exception of Botswana Diamonds, JC is superb).....

Read more here from JT....
https://www.irishtimes.com/business/energy-and-resources/entrepreneur-john-teeling-taking-his-foot-off-the-business-pedal-1.4601592

Chitta, in fairness to Horgan, he has described it as 'odds against' from the very start. Listen back to his earlier interviews.

... which I had already posted on the 14th Innit, if you want to play that game !

Indeed Merlin...
They could take a partner giving them, for example, a 5% share, the price being equivalent to CLON's 10% costs. Giving CLON a 5% free carry.

Just one possibility.

My understanding is that have 6 months from period end.

Off and running already, something's coming surely...

Nice strong finish.

Doubt it, he wanted and was offered a friendly take-over years ago but he was skint !

Farming-in I believe is the way CLON might well proceed but they would have to give away a proportion of their share of the revenue. On the first drill CLON paid 20% costs against 10% equity (i.e. for 10% of the revenue), it is perceivable that going forward CLON's cost obligation for future drills could be levelled to match its equity, so 10% cost contribution.

CLON could then offer a farm-in partner 5% of any revenue, for 10% of costs. The deal would be direct with CLON and drill by drill. CLON would retain the overall 10% equity, third-party has rights over 5% of the revenue from the discovery to which they contributed.

CLON would thereby be able to meet its obligation to contribute 10% of costs with no shareholder dilution, and still achieve a 5% revenue stream. Just an example of what could be possible, other deals/ratios possible of course.

I can't see that happening for a drill as there would be no certainty - it would in effect be a free carry, or high risk for the lender if CLON couldn't repay - the whole point of partnering is to share the risk. The loan-for-forward-costs would be for any on-costs or overrun per drill, only after resource is proven or highly indicated, and therefore whoever loaned the money (WG) would be fairly certain of payback.

We won't get it back, it will be loaned to CLON and recovered from proceeds that would otherwise be due to CLON - CLON pays it's share.

Although I read that as referring only to potential drill #1 overrun costs, although I accept that it isn't entirely clear from how it's expressed. And of course a similar arrangement may well be put in place for future drills.

My point is that even at 20m CLON's contribution was 4m not 2.5m.

It's all in the RNS ffs, no guess work required....

"....with drilling scheduled for May/June 2022 at an estimated cost of circa US$20 million (of which Clontarf is funding US$4 million)..."