Member Info for chasf

The advances are unsecured, which is good, and their use makes it clear that KEFI is anxious to avoid a diluting fund-raise at this level, but it's fairly obvious it could raise if it really had to, so risk to the company is negligible.

I'm not sure why it should ring an alarm bell, since the payments are all conditional on not just the paper but the money arriving. Second, the problem with the equity partner is probably that they couldn't in the end come up with the cash, having been given more than ample time (more than the original deadline).

(sorry I meant "*is* by then signed off", not that it has been signed off now)

The bonus payment is conditional on two things: arranging the package and actual drawdown, the latter surely implying the finance *is* signed off since no-one is going to make a $20m payment against an unsigned agreement.

I wonder whether the "new contractor" hints at both one cause of delay and the EG's involvement. For instance, the original contractor in the end couldn't commit to the previously agreed timetable, suddenly messing up both the finance conditions and the EG's view of it.

I helped out a little bit in the closing one, so at least we're not down on the day. Don't thank me all at once.

the opening auction was, however, busy for a change and actually set a price.

In unrelated questions, I wonder whether the broker will cash in some more of the remaining cheap warrants.

It's fun watching it work (ok, it's more like paint drying). It pins the edges of the range. There are little markers in the book that I assume trigger state changes when hit. I assume it's setting up O trades against the MMs. I don't know why they put up with it. Normally they don't care about the price because they make the margin, but must be slim pickings here. Maybe bot synchronised buying and selling so they don't in fact lose out. (If so, they won't bother to do anything at all.)

"Looks like the market didn't like it after all. Cest la vie!"

It's really the algobot and not so much it didn't like it, but it didn't fit in with its plans and it took control again (volume isn't huge against it). It will run it up to 2p again when it's gathered enough at this level.

The algobit obsession with 2p remains a little mystery.

I was too slow in the auction but I see now it wouldn't have worked anyway, given the uncrossing trade price from the extended auction.

There were two bots arguing, both sides of the book, which didn't help

I tried to trade a small chunk in the book early on but not only did the nervous bot jump in front of my position each time, even when I repriced it, but it was on a sliver in front of me that I can't specify, so for a time it looked like front-running!

"Total voting rights ..get ready for dilution ..next week tues weds"

They're issued at the end of the month ("Month End Disclosure") when the voting rights have changed, either by issue of shares or change of terms attached (in this case, the issue of shares for those warrants).

Answer my own question: so they did (500k, two chunks of ~270k=exactly 500k, one of 72k)

Did someone really just buy 1m+ at 2 off the ask in the book (A trade), or was it just withdrawn? Suppose I'll have to wait 15min to see.

I do wonder how thin the ice is beneath the brokers in that regard!

All seems sound.

I still wonder what the OILQ trades were last week. None today. Might represent transfer of warrants (since they are certificated, not traded on AIM, might qualify then as illiquid). There are several delayed prints from Friday 15:26 to 15:54, two large (4.3m and 1.5m)