Member Info for Confounded

TLM, yes there has been substantial dilution, but it all part of the change in direction. I left CRCL because it looked like they were heading to zero (infinite dilution), I have rebuilt a larger position than ever knowing the March and May dilution.

The premium paid for placings shares at 0.35p and 0.4p is encouraging and the fact that our cornerstone investor followed through with the last largest tranche at 0.35p shows me they are positive about the future and their recent investment.

Excellent news it is all closed, looks like the 19th July will be a key day for CRCL investors.

Is anyone going?

https://tinyurl.com/2rsmpwu8

Additionally, the Company invites current and potential investors to attend an event on the 19(th) of July 2023, at 1430 at Aviation House, We Work, 125 Kingsway, London, WC2B 6HN. The CEO and Chairman will give a brief presentation on the Company's pan-Angolan/Brazilian onshore oil and gas strategy and will thereafter be available to answer investor questions.

Great to see the relaunch happening, quite amazing you can pick the shares up for a 50-80 % discount to the financing that has been done this year.

Steve, rightly or wrongly bringing in the cornerstone investor at 0.35p is what is keeping me around. He has delivered 2 of the funding tranches and the latest RNS looks like we could get the 3rd this week or early next week.

Much of the recent coms, as TLM says, have been delivered out of hours or poorly timed to have any positive effect on the share price. Parsons and team are clearly very experience on AIM so this will not be an accident. My gut feeling is when they launch CRCL properly it will done in a way to get attention and for people to see opportunity CRCL presents.

Https://www.lse.co.uk/rns/CRCL/cornerstone-investor-equity-placing-jdycmalq1r5kwww.html

o Introduction of new cornerstone Investor Group with Corcel board representation as part of fundraising of GBP1,055,515 at a price of GBP0.0035 - representing a 11% premium to the closing price of 27 March 2023 and a 16.6% premium to the 30-day VWAP - the investment will be made in three tranches as detailed below

James Parsons, Executive Chairman, commented : " I am delighted to welcome Antoine to both the Corcel register and, subject to regulatory checks, the Board as we take the first steps in our chosen oil and gas strategy."

Upon completion of the Fundraising, the incoming investor group have nominated Mr. Antoine Karam as a Non-Executive to the Board of the Company, subject to standard director background checks. Mr. Karam is an experienced investor who has previously been a board member of multiple listed IT and cyber security businesses. Mr. Karam is connected to multiple institutional pools of capital and select business opportunities in the sector.

including origination, due diligence and advisors fees.

The Company has agreed on the following staged settlement timeline with the Investor Group:

o GBP300,000 representing 85,714,285 new ordinary shares to be settled on 7 April 23

o GBP300,000 representing 85,714,285 new ordinary shares to be settled by 31 May 23

o GBP455,515 representing 130,147,004 new ordinary shares to be settled by 30 June 23

Upon the completion of the third tranche of the Placing Shares the investor group would have in aggregate approximately 27.2% of the issued share capital assuming no other shares are issued.

For completion of the initial tranche, Mr. Karam intends to create a dedicated investment company, which following this tranche would hold in aggregate approximately 9.6%.

Steve, they are brining in a cornerstone investor, as posted earlier I think it is prudent to be sure all is finalised with their investment before pushing on.

We are in stealth mode atm with ultra low volume where is seems MM are happy to collect any dribs and drabs at low prices but are holding pretty firm on the offer price.

Offer creeping up, budged from the 0.27p it has been stuck at for a few days, maybe we will get a bounce into close and start undoing this drop..

I have a hunch the news flow will start when the last of the payments lands in the UK. The cornerstone investor has been true to his commitments for the earlier two payments and the latest RNS suggest the final payment will arrive as the others have. Then hopefully we can start to see this new presentation and plan for moving forward.

Also after last night UT 8% down close it has printed and extreme oversold condition so we look perfectly poised for a good rally from here. We all know how quickly CRCL can move when the buying pressure arrives, let’s hope it arrives again.

Https://www.petroleumafrica.com/kwanza-block-tenders-spur-new-wave-of-investment-in-angola/

Interesting link posted on twitter. The guy posting was negative saying CRCL was too small MCAP to raise the £5m needed for the license but his own linked article states $9m investment was needed and CRCL has 20-25% of that.

I very much doubt our new investor put in over £1m into micro cap if he did not think we could finance $2m as our obligations....

TLM really has the feel of stealth mode atm. I have been in my fair share of disasters but I have not seen insiders/new investors coming in at 30%-50% premium prior to the disaster. Lets hope thier plan comes together and old and new investors make a healthy return!

Thought we were going to get the Mambare update with that RNS. Seems all the money is coming in despite the share price at 30% below, excellent to see.

I have too large a stake to trade when so thinly traded, so I look at where all the recent financing has been done with a large professional investor taking a stake at 0.35p, 30% higher than the current mid price and have to believe he has more access to the new company plan than I do. Directors taking salary sacrifice at 0.4p is also a good indication.

The volume of trades to bring us down to this level after the few weeks is smaller and many holders have here. It could be reversed in an afternoon :-)

20% lower than the recent fund raises and salary sacrifice, I personally still like the risk reward from this level and look forward to the new path forward.

CEO taking salary in shares at 0.4p and new funding all done above 0.35p, so hopefully they have a plan to generate a share price well in excess of that. My whole PF went risk of this morning, liquidity is very poor generating 6% moves like here on tiny volume. Hopefully the rest of the week goes better…

Excellent reshuffle, CRCL is ready for it’s new chapter. Still taking all payments at 0.4p which is great to see.

ADVFN has us at £42.17 MCAP, that can’t be helping for those looking at that as a reference. When I first bought in I think I had a £4m MCAP as a decent exit level under the old share structure, now we are here and 1/5th the share price. Let’s hope they deliver a compelling rebrand.

Anyway, as I said earlier, todays news did not mean a trip to 1p but imho it was certainly a positive announcement and asset to hold.

Quite a muted response today, it was not the rerate type RNS we needed, but it actually came in more positive than my more realistic hopes for the licence that owes us nothing. There are signs of REE’s and also a separate anomaly that is a possible gold prospect.

Hopefully we will get an investor presentation soon outlining the bigger picture.

Good initial results and interesting to see hole 5 comments.

When we first took on the project, given the cost of entry, it was obviously going to be highly speculative for REE otherwise it would not have been available, but I did wonder (given gold was nearby also) if the major surprise would be gold rather than REE. Good to see both horses are in the race as they find out more.

“In hole 5, which was drilled after the rush assay was despatch but before the assay results were received, the drilling also intersected medium-grained, pink intermediate porphyry interpreted as syenite.

Syenite is the host rock at the neighbouring Wallaby Gold deposit currently being mined by Anglo American Gold.”

Https://www.proactiveinvestors.co.uk/companies/news/1017656/riversgold-reveals-elevated-rare-earth-drilling-results-from-mt-weld-project-1017656.html