Member Info for bigbadbob79

They can raise through equity, they just need to hold a meeting for shareholders to approve the additional shares. Companies do this all the time. Sometimes accompanied by a nice RNS that says words to the effect of we recommend shareholders vote for the resolution otherwise we'll have to liquidate the company and you'll be left with sweet f a.
I bought last year after looking at the opportunity. I think the opportunity is there, I just don't have any belief that Carl has the ability to realise it. I'd rather have sold at that small loss than still be holding at a bigger paper loss and worrying about what's going to come out of the woodwork next.
The money went into BEN and ATM and has more than recovered my loss, so it's all good.

Doc/Mr X has been pumping CGO for a long time. Clearly has a substantial interest and nothing wrong with that.
IMV the podcast interview was an absolute car crash, both interviewers and Carl sounded totally clueless.
How does Carl think he's going to fund coke ovens with no income? How's he going to fund a wash plant with no income?
What is the point in spending digging run of mine coal and stockpiling it if you have no customers (because you've ****ed them off) and no means of washing it to make it into saleable met coal?
Is it even met coal? The asset was sold as a thermal coal resource and now magically it's met coal.

The gold project just sounded like utter fantasy. Bought with a resource of a few hundred ounces. Now it's magically 2 million ounces based on a couple of geologist opinions but no actual work. And he thinks he's going to get loads of money for this patch of dirt? The best he will get will be a farm out for someone else to prove up the resource and mine it for a smelter royalty.

I initially held thinking the same as a few others "someone will buy that coal in the current market", but thinking it over I decided there's no way I'd have bought the share on the back of that interview, so it made little sense for me to hold. I bailed out at 7.4p for a small loss. Tough to take after hitting 10p 48 hours previously but that's the way it goes sometimes.

Strip out the cash this is trading on a PE of about 5. The business is growing at about 40% yoy.
That is not an appropriate valuation for a profitable company growing very quickly.
It'll turn at some point, be taken private or hostile takeover.
IMO.

So long as you hold shares on the record date specified in any dividend announcement, then yes you will receive the divided. No dividends have been announced yet, so if you buy today then, yes, you will receive any future dividend that is announced, assuming you still hold the shares on the record date.
Reference to rewarding early investors is an aspiration for the quantum of the dividend - eg a 10p dividend would see those who bought the IPO get all of their money back as a dividend (and still hold the shares).

Gross profit means nothing. Cash is king and Mode burn nearly £1m a month.
3,200% of a very small number is still a very small number.

Yes I lost money here. We all make bum calls sometimes.

MODE may well have backers with deep pockets they will turn to for any placing. So what? It'll still be a placing, it'll still be a deep discount to the market price.

Let's face it. Selling the BTC was neither shrewd nor a mistake. They are burning cash like no tomorrow and selling the BTC puts the placing off for a few months.
They just happened to have sold at a tie that netted a profit (so they say, nothing "official" about it).

You're quite right, it was March.
Doesn't alter the fact it was obviously a dogs dinner from the get go. The pitch was very confused and aside from that I just don't see how they carve out a niche when any supermarket will deliver you ready meals on demand and the likes of Gousto have got the premium end of the market.

It only listed in August! Just another crap IPO from 2021.
I got offered this via Primary Bid, and decided it was well overpriced so passed. I should have shorted it!

There will be some overheads on top of those figures, but certainly a very profitable business and I continue to accumulate.

It'll be part payment with the balance paid after samples have been analysed. They are selling unwashed coal to Integrity at the moment, so Integrity will be taking it to a wash plant to make it into useable product. The total payment will depend upon recovery rate.
Adam Wilson was gave an interview last week where he explained this early production. Delivery by road until the railway line is ready, and unwashed run of mine coal until the wash plant is ready. He also explained this is allowing them to commission and fully test the wash plant rather than run product straight through it after repairs, which was the original plan.
Explained as Atlantic are paying roughly the equivalent price for washed coal for the ROM product (I guess with a bit of discount to account for the costs of washing it), so roughly neutral revenue impact to BEN, but with revenue earlier than anticipated.
All good.

Yep they bought. I think Julie is referring to their % holding having gone down, but that's because of warrant shares issued since MBU last declared. Their number of shares held has increased.
So that little tree shake this morning was to generate some sells to fill their order. I did wonder about taking advantage of that myself.
I think this will push on now next week.

Thanks for the link, interesting and sounds very confident. Will buy more on any weakness.

Yeah he's posted the trade value in pence, not £s. so "248k" is actually £2,480.

I don't think they'll even get 30p a share for new money. There's no value in this business whatsoever.

Agree.
For once I've been sensible and sold half my holding at just over 100% profit. Nice end to the week.
If it bags again then great!

Yes lots of things that could go bring the SP back down, principally coal prices returning to normalcy (which they will at some point). Thungela actually made a small loss in 2020.
I think the current SP is about fair value given the uncertainty over future coal pricing and variables such as rail issues, covid, industrial relations etc. The big dividend early next year is supporting the price for the time being. It may continue to rise, but it'll be interesting to see if it breaches the ATH.

Good buy that Mercman! I was a bit early with me averaging up price on Friday afternoon at 31.6p, but I'm confident it will prove to be a good buy too.

Yep, I have averaged up here this afternoon, rude not to!

IF you buy today you get the divi. Doesn't really make any difference to your overall position whether you buy now and get the divi, or buy a bit cheaper (probably) tomorrow but don't get the divi.