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Louise - those above market negotiated block trades on 4 September were valued closer to £2.25m (which would bring us half way to clearing the total debt, if that's what the Marex launderette has busy drip drying since then)

There’s no restriction in the agreement Santiago. As the RNS said… “The Investors may elect to convert the £10 million Advance into ordinary shares ("Ordinary Shares") in the Company at any time and in any such proportion as they so choose upon delivery to the Company of a notice of conversion ("Conversion Notice").” In practice, there may be some choking on the amount that the broker is prepared to handle at any one time.

What on earth else do you think they’d do? The whole point of these debt agreements is that short term debt funds can monetise and exit as quickly as possible, with minimum risk exposure, for maximum profit.

10-day VWAP: ~0.328p

Lowest daily VWAP: 0.285p

92.5% of 10-day VWAP: ~0.304p

Base for conversion: 0.304p (higher of 0.285 vs 0.304)

Conversion price (80%): ~0.243p

Really, there’s no point just making stuff up. Stick to the evidence.

If you had the first clue what you’re invested in you would know why that report is important to HE1

Of course an RNS is necessary, it’ll come the day after the notice is served and will specify the number of new shares and the admission date

“ TA and other metrics such as TWAP, MA, and MM movements are suggesting this is forming a support. Thats why PI are buying at these prices. If you believe HE1 has a future as a company why would you not part with your money at this point?”

would you rely on oversold TA indicators during the issue of billions of new shares?

From teh BNL report, the total amount of the raise will be 4.5m AUD ($3m), subject to shareholder approval next week. HE1 has allocated more than double this amount from their raise.

"Subsequent to end of the reporting period, Blue Star announced it had successfully completed an institutional placement to raise A$4.5 million (before costs). The placement involved the issue of 908,000,000 New Shares to institutional and sophisticated investors at an issue price of A$0.005 per New Share. Participants in the Placement will receive one free attaching option for every two New Shares issued, exercisable at A$0.01 and expiring two years from the date of issue. The New Options are to be unlisted and their issue is subject to shareholder approval at a general meeting to be held in September 2025.

Placement will be completed in two tranches:

o Tranche 1: 673,000,000 New Shares have been issued pursuant to the Company’s existing issuance capacity under ASX Listing Rule 7.1 and Listing Rule 7.1A.

o Tranche 2: 235,000,000 New Shares and 454,000,000 New Options are to be issued subject to shareholder approval being received at a general meeting to be held in September 2025. "

“Interesting that they have raised 4.5m and we have raised the same for that project.”

4.5m AUD ($3m) is less than half the 4.5m GBP ($6.1m) that HE1 has raised for its 50% share in the project, which is why it’s odd.

They've sold pretty aggressively, 100m or so a day in current round. I think they might try to push it all through pretty quickly, and maybe even before Q4 operations really get going. Some good news liquidity would help soak it up though.

£7.25m remaining on paper but in practice they’ll have rinsed a decent chunk out of that by now.

Looks like we're getting closer to conversion options at 0.25p after today too, lower than I was expecting anyway, more profit and more shares if so.

I'm not sure what you mean MC. I posted that projection last week for a £2m+ conversion, based on 600-800 shares landing at c. 0.3p between 9-16 September, just hypothetically of course.

"If the conversion tomorrow will be 0.26p I'm sure they will conversation 1m tomorrow for some profit"

If they choose to convert tonight or tomorrow then I think we're looking closer to £2m than £1m. The original over market cross trade was valued at £2m on 4 September and I think they've washed enough to cover that amount now (e.g. c. 700m shares), and turned off the tap since yesterday. Just a guess.

Sorry, I agree. I was a day behind myself. If today's trading ends with 100m shares averaging 0.295p then tomorrow's conversion price looks like 0.26p (making those 0.3p trades very profitable) . And today's conversion price is already 0.277p

Engines like ChatGPT are just large language models. They're OK at reasoning if you give them the data but they just make stuff up if you get them to speculate

I think I was basing on 0.295p for today but we'll see how that goes, it's the same the ball park so all those 0.3p sells this week should fall into realisable profit starting from tomorrow (or later if they choose to wait longer).

0.266p would be the actual round number but allowing for costs I'd guess tomorrow's conversion price might well fit the bill. Just a guess though.

E.g. 750m shares @ 0.277p = £2m for a round number