Member Info for BillfromBristol

LLoyds only just added it this morning

Signing off. GLA

They are so lackadaisical about updating the website - no mention of the float (on Monday?!) and of the latest accounts, which are mentioned on the LSE Schedule One update. I'm shocked.

https://www.londonstockexchange.com/news-article/market-news/schedule-one-update-bradda-head-holdings-limited/15058230

I don’t know. I suppose they want as many takers as possible but depends on demand from city players I suppose. Ask the company.
Here’s an extract from email I got from the LSE (the real one!)
Hello Bill,

I can confirm that the Link is genuine.

you’re right there are a couple of small UI bugs which I’ve raised so they should be addresses shortly.

As for the admission document the Company is expected to admit on Monday 19 July 2021, so it hasn’t yet passed the deadline to publish its admission document (normally 3 business days, so on/by 14 July in this case) albeit perhaps good practice to publish as soon as available.)

Hope this helps. Let me know if you have any further questions.

Kind Regards,

Rob Lowery
Security Analyst (GSOC)
London Stock Exchange Group

TO be listed 19 July
https://profile.lsegissuerservices.com/upcoming-issues/BraddaHeadHoldingsLimited

So, co valued at £16m
https://www.manxradio.com/news/isle-of-man-business/bradda-head-to-mine-for-lithium-in-us/
https://www.londonstockexchange.com/news-article/market-news/admission-to-aim-and-fundraising/15044847
Not clear from admission doc how much dilution there will be. But we'll soon know.

Good spot, thanks
Couple of updates to website too - https://www.braddaheadltd.com/about-us/board-and-senior-management/
https://www.braddaheadltd.com/about-us/corporate/
So good to see some progress

In case this is any help to anybody - I have persuaded my Standard Life SIPP to sell me the shares so that I can get the certificate in my name. We now have a market value (4.8 US cents) for these unquoted shares and that's what persuaded them. My aim being, that as any proceeds would be fully taxed as a pension derived from my SIPP, I would be better off having them in my own name and getting the CGT allowance as an individual. Also, as a named shareholder I should be entitled to updates from the company!

One would hope so

I’m not sure that the other parties would have had their equity shares removed - renegotiated though, no doubt.
And I imagine Linn feels he can get the funding now himself because PVR have now established a good relationship with those other parties and the structure of the deal has already been substantially agreed and they have a good idea that the bond will be well received by the market.
Well, that’s my guess anyway.

There was a press article before Xmas which said that the other 50% was to be split between the bondholders, service providers and Spoton. So, as we’re told the same structure is being followed now, I assume it’s Spoton’s 17% that is to be reallocated as they are no longer earning their share.

I got through ok on the phone this morning. Helpful as they could be.

Just spotted they also say the drilling will only cost about $1m so maybe they won’t have to offer half the company in the coming fundraising.

I think they represent the current position according to the Zenith update below but please feel free to check them :)

So if 15% is 11,768,461 shares that means there are 78,456,540 shares in issue which is less than I thought. At 4.8 cents ps and 1.40 £ to USD thats a market value of £2.7m for the company. I imagine Zenith got a good price. And let's assume that they'd give away half the company on more capital raising, so say 160m shares in total. If the float was valued at, let's guess, £50m, then that would be 31pps. Which would be about breakeven for me. The great escape! :)
Please check my calcs!

And a capital raising by Bradda envisaged so we're going to get diluted even further but at least there's an exit route.

Ha ha, only yesterday I sent a email to Piotr expressing frustration at delay and now we have some news.
https://www.zenithminerals.com.au/wp-content/uploads/2021/02/Pure-Lithium-Vehicle-to-Unlock-USA-Assets.pdf
"Imminent commencement of drilling is expected to coincide with an international roadshow and capital raising by Bradda Head. JORC compliant resources would set up the pure lithium play of Bradda for a public listing on an appropriate stock exchange to generate both liquidity and value for its shareholders, now including Zenith."
Zenith get 15% of Bradda and the valuation is at 4.8 US cents ps, so now we have a value! Sadly it's about 10% of my purchase cost! Oh well.
But we need to wait for the drilling and the results and then the float (hopefully) so maybe by end of year? And a ten fold increase in value - I wish.
GLA

TRy the ADVFN phone app. Really good layout and updated quick.

The latest Zenith quarterly report simply says that the renegotiation of the American Lithium JV (i.e. Bradda Head) continues. I'm bored.