Member Info for BillfromBristol

Yes it’s dropped by a fifth because I have a fifth of old shares and the share price is the same. Solution - increasing share price. Let’s all hope someone notices this company.

Can anyone help me with the figures below from the RNS last month please?

I thought we had 1.1m net from IPO but the total there is 1.9. And we’re paying old bills of 1m so nothing left ? But table says 892k for exploration and WC.

Is the 515 part of the 800 readmission costs? Must be I suppose.

Given above - how much activity does the remaining money produce in terms of revaluing the assets I wonder? I presume they will need more money for actual drilling. But hopefully at a higher share price.

No sign of my pref shares yet - I wonder if Lloyds will send me a paper certificate as it’s not going to be listed. I imagine ECT progress will be in future RNS ‘s as LRES has some of the claim.

Good luck all.

Thanks

The Enlarged Group will receive approximately £1.1 million of net proceeds from the Fundraise (after deducting commissions and other expenses related to the AIM readmission of approximately £0.8 million), which are expected to be used as follows:

Conducting additional field work and analysis to advance toward development of the Project, including:

£,000

· Exploration and working capital

892

· Creditors

493

· Unpaid transaction costs

515

Working capital, including G&A for a period of 18 months

1,900

It's all in the RNS recently issued.

I’d like to get more than 5 times the value for a fifth of my shares - but I don’t think I will. Anyway. Good luck all

I’m going to rewrite that RNS in plain English and then consider its merit.

Can't help thinking they're underpricing their services if it saves months of consultant time. I suppose I'll hang on for the results and outlook in two weeks and hope it doesn't go the way of Bell.

Good grief. The slickest of slicky slick!

Have you considered running for office? because posts like that here will change nothing.

Well there they are. I don’t have enough expertise to interpret. No shares traded yet so I’ll wait and see.

Could they have demerged ? Then wound up co with capital distribution later. Prob not. I’m sure they spent thousands of legal researching it. :(

Where were those quotes below about not listing pref shares from?

I found this reference in the 30 April RNS but the paragraphs dont seem to be numbered !

“ of New Preference Shares, which will be allotted pursuant to the Bonus Issue, further details of which are set out in paragraph 20 below”

Bear dozer - . “Only answer is to bank £3k profits every year until all the money's gone.”

But only if some firm makes a market I suppose. Otherwise how do you sell ?

Oh no that’s a bloody disaster on two counts - no scope for early exit and higher tax. Blegh

Dj - I’ve been here since Copper. Or was it Life Sciences? Can’t remember which was first. Now only half down after topping up a few months back. Lots of scope for more I think.

Lawyers- that’s in the 35% discount isn’t it ?

Will it likely be $50m tho? And when? That’s the big questions

I have six million. So, fingers crossed :)

That’s the ECT claim calc represented by pref shares. So presumably we get equivalent number in ord shares ?

You will get preference shares representing 80% of the potential ECT claim and ord shares representing the new venture.

Where do you hear that Amy?

Still trying to work all this all out !

I need a flow chart!

So, simply, atm old shareholders have 100% of a company that’s only asset is the potential ECT claim.

So old shareholders currently have 100% of the ECT claim.

After admission, old shareholders will have 80% of the potential ECT claim, via pref shares.

They will also have 25.19% of the ord shares of the company. The ord shares assets will be 20% of the potential ECT claim plus 100% of the graphite project.

The value of both the ord shares and the pref shares is uncertain but the RNS says the mcap of the co will be £2.5m on readmission. Not sure if this includes both classes of shares.

Any comments welcome :)

Yes that’s what I’m hoping too. But I imagine they have to be publicly listed. Is that going to be the case?