RE: Thoughts and context3 May 2026 10:56
Morning. This is complicated isn't it? :)
The market cap at suspension was about £1m. So if the new pref shares have a market cap of more than this we'll be going in the right direction. Their value comes from the 80% share of the ECT claim which could be years away from being settled and of uncertain value. Say we get $100m - what is the worth now? $5m? If so there could be a worthwhile increase in the value of the 'old' shares, and the dilution of that value is only 20% for us old holders.
But, will the pref shares be listed? And qualify for an ISA? I hope so.
In addition we have shares in a new graphite business, representing a small percentage of the mcap of a speculative exploration business, which we can decide we want to be part of or not.
So, I think Steve Boldy has helped us as much as he can, in contrast to Goodman's and O'Reilly's stances, as someone said before. The CLN top up holders risked more of their money whereas I didn't (and maybe wouldn't have put more in even if I'd had the opportunity) so fair enough.
Am I on the right track?
Cheers all