Member Info for Blubay

“Market makers are deliberately holding the Sp down”

Don’t be daft

@Earl - "At this rate sp will do 200% up before end of the year"

It's gone down so far not up, what on earth are you talking about?

@hasiba - "Surely the oversubscribed players bought into this hope and can’t all be hoping to flip and run…"

Unfortunately that's not really how AIM placings work. The banks only participate on the basis of guaranteed margin cover. They might continue to hold a few on a free ride but if you look at changes in significant holdings after placings you can see that rarely happens to any large degree.

I think they're funded to financial year end now (end of June) but they will have to raise new funds before end of Q1 to make that viable.

"Buying below placing, that's a rare on the market"

No it isn't, around half of AIM placings fall at least marginally below placing price at some point in the following period

Yes

The theoretical chances are a bit higher than Tai but they're targeting a different kind of fracture play with this drill, based on what they've learned from the Tai data and also hypothesising migratory liquid helium carriers generating the observed surface seeps.

"I don’t think they will drill in Jan"

They will drill for sure, whether it does anything for their share price is another matter

MMs and shorts will be buying them to cover whatever they sold at higher prices previously. Potential >95% profit for anyone who managed to short this from 6p. AIM is a shark pool unfortunately, and some of its sharks have gone very hungry this year with the general lack of new placings in the market, so they’re absolutely fleecing the ones they can still control.

At least the shorts will close at this price

…and that’s doubling previous shareholding against a two thirds dilution, so in practice a reduced holding as %

So if I read correctly, Sarah Cope and the chair have chipped in £2k each and some other directors £1k? Makes LB’s £5k contribution look generous.

It’ll buy them as many shares as £450k would have bought at the last placing just a few weeks ago 🤣

They rarely make a fortune, unless the company succeeds, but they invariably make a solid marginal profit by one means or another. The placees may also include some of those who’ve shorted the share down from 6p. They’ll be able to close their short positions with heavily discounted shares from the open market due to placing, and gain a free ride on their placing shares (which seem to be locked in). Short squeeze will then push up the value of their placing shares, win win ;-)

The conditions are all pretty standard, because of Brexit you need clauses to separate financial services transactions in UK and EEA jurisdiction.

Yes, the cash box gives them the drill plus 3 months additional runway, basically back to the position they would have been in going into the drill originally if it had gone to plan. I think they had runway to first half of 2024, financial year end June, not sure if this restores or gives them an additional quarter

I.e. new shares to be admitted 28 December but locked in from publicly sale for six months thereafter?

Probably, and possibly lower between now and mid January if there’s no clear spud date

Drop it here then copy the link https://imgur.com/

They will be looking for other ways to engage investment without diluting, or without excessive dilution, more likely they are working on some kind of company restructuring to make this work.