Member Info for bloodninja

0.015 just paid

Excellent result...for the debt holders. Awful result for PIs, so we now have a $15m p.a. interest obligation and no update on gold production efficiency or costs. Fair play to the Candy's, they will strip so much cash out of this before any dividend is paid it's an incredible play and why they're so wealthy I guess.

Nonetheless, readmission of shares to trading will be interesting, market will take this one way or the other, potential for a significant SP catch up what with increased POG, fingers crossed.

I didn't think it was a case of the company wanting to de-list, more so that the LSE will cancel MTL's admission due to it being suspended for 6 months with no solution available to reactivate listing. The below reads as though it's in relation to a situation where the company actively wants to de-list, which is not the case here (for most of us shareholders at least!).

Happy to be wrong on this one though.

RNS states went into suspension on 9th March, so 9th September is 6 months, so de-list on Wednesday? May get away with an extension by exception because COVID

Why would they need cash for an RTO? The only cash requirement is director fees/salaries for a cash shell as I understand it

Any views on outcome here? We are nearing a de-list deadline right? Have a very small holding still here but just assumed it's as good as wiped out should the debt-for-equity swap go ahead and shares be diluted to high heaven.

0.013 just paid

.0451 on the bid, makes it top of the losers board today

Yep, .05 just gone, shame, well done to those who dropped out first thing, gonna hold these for a short while as current movement is instant profit taking from yesterday crazy drop it seems

Where's this update then folks? Misinformation is rather bad here, I think I'm going to go back and report everyone who posted false info as fact

I would wager my entire wealth on no after hours 'trading' update or the same tomorrow, I won't actually wager it as stranger things have happened but there does seem to be a lack of awareness here as to the structure of this entity

Unless the trading entities pay a dividend then ESL revenue will be zero. The update on ESL as a cash shell will revolve around what management plan to do with it as an entity to maintain the listing, the idea of becoming an investment entity has been mentioned but they need to raise at least £6m I believe to fulfil this criteria.

Nick, Whitestar took 51% of all trading entities in Q4 2019/Q1 2020, this entity (ESL) has 49%. Thus, ESL doesn't trade, it owns 49% of entities that do trade. You've had your update, honestly don't understand what people expect here.

Young lad talking most sense, everyoje ramping this up just wait and watch while no trading update gets posted nor anything else probably until September lol. Not arguing with the price action though, as a holder I'm quite happy with the rise, seems the market is liking this currently which works for me

I still don't understand what people think is going to be published today, the only update we're waiting on is participation in loan notes which has a deadline of September as I recall, the Trading Update has been released, why would there be another one??

Good refresher of current position there Younglad. I would wager (and hope for as a holder here) a pretty decent SP increase on confirmation of participation in the loan notes, as ESL will then have an 8% or 18% (I can't remember the interest rate on the notes) steady income stream, very attractive investment opp. Appreciate it will be diluted here (as we'll have to do a raise) but I'd participate in exchange for that level of return based on underlying business that's paying said interest performing pretty well per latest update. Could be an interesting month from this point onward!

What are folks expecting from this supposed 'trading' update? Are people aware here that ESL doesn't trade at all, it has no revenues (that I'm aware of) and it's sole asset is 49% of the Eddie trading entity. A trading update for this entity was released last week (called associate company), can someone please enlighten me here?

Ha no and stopped trying, conveniently it's ticked back up! Stand by my points mentioned below though

ESL doesn't trade, it's a cash shell, so when people say trading update i presume they mean 'status' update. When is the delist date too? Must be creeping up

Bid is in the negative now