Member Info for Blubay

In this situation of a reverse takeover it's a perfectly reasonable thing to do. They are essentially listing a new company with a completely different balance sheet, assets and prospects.

The lack of understanding on these forums is mind boggling, no wonder retail get shafted year after year

It’s simply irrelevant, the company starts again for what the market thinks it’s worth. If you thought you were taking too big a risk you would have got out before the deal was in the offing.

They seem to have disposed of about $330k more than their monthly mining revenue in February, so looks like somewhere north of $4m for the month. Hard to know if there are exceptional costs in there.

If they have any sense (or any control over it) they'll manage the demand and pricing to avoid too large a re-rate on listing that causes everyone to sell. Then again, the banks and institutional investors won't be interested unless they have a good chance to turn a profit and minimise their risk during the initial churn.

What info would you like in addition to the acquisition presentation, the research note, and the RNS on how to bid?

https://beaconenergyplc.com/media/1114/20221222_corporate-presentation_v5.pdf

Seriously, don't confuse NAV estimates with mCap. Research notes on AIM are usually commissioned to talk up future share value prior to a capital raise to maximise investor interest. But with 500% dilution why is anyone expecting their existing shares to be re-listed at more than 2x or 3x their previous value of 0.18p? There may be some incentive to ensure they aren't worth less, and maybe 0.5p if we're lucky? (maybe with a 10 for one consolidation to list at 5p?). Who knows, but don't expect 10x, 20x, 100x bags here on re-listing. If they have any sense they're going to mop up as much dilutive value as they can squeeze out of shareholders in the offer. If it's over-subscribed then great.

That can't be known in advance because it is determined by the placing

From the PrimaryBid website it looks like AJ Bell, HL, ii, Barclays, Fidelity and IG are all partnered, so that should open up a lot of ISA and SIPP investors

Great there is a recognition of retail interest and possibility to subscribe through tax wrapped instruments, be interesting to see which platforms allow for that

"My bet is the Board have paid Tennyson Securities to do the research ready for their investor pitching"

this... upbeat broker notes always precede fundraising

No price gains, no news, no business strategies? I mean QBT sunk below 1p and still under 2p. Argo lost 80% in the past year. BTC up but SP down this week? What is 'looking good'?

There is no evidence at all that the company lied. They were very transparent to be fair. They were in rig negotiations and they failed, twice.

That’s a very optimistic reading. What it means is they don’t have a rig provider, they have one they are hoping for and an alternative idea as a back up. Basically we are where we were a year ago but with better data and a new CEO. No reason not to be optimistic but as things stand there is still no prospect of a solution.

As expected

HE1 is an exploration company not a production company. The business strategy seems much more likely to target primary discovery and then selling on the prospect to a major producer.

"Prospectus is now 2 weeks overdue?"

No it's not, it was suggested (but not promised) for mid February. February has 28 days, today is 13th, it wouldn't be two weeks 'overdue' until at least the end of the month.

It's nonsense

On what basis are you expecting "1p at least even after consolidation"? Why?

I mean yes, CLON just diluted a lot to raise £1.3m cash for investment, but they claim it's to expand their own lithium projects in Bolivia, petrol projects in Ghana, Australia and 'other regions'. Nothing in their placement prospectus to even suggest investing in BCE. Even if BCE investment featured somewhere on the end of that long shopping list then how much are they actually buying? You're suggesting more than half their entire raise would be spent on BCE shares and not on what they told their shareholders it was for in the prospectus? Are you mad?