Member Info for Couerdelion

I missed this free offer. Just hope that Trump or one of his cronies manages to say something mad before tomorrow opens.

Does the US have much lithium suitable for mining? I've always assumed that it was one of those elements that he would be happier to secure the resources.

From what I can see or heard, the $6.75m will be paid over time as the material is collected. Offsetting this will be the $18m they are paying for the 260m ton pile of rocks of which presumably $6.5m is paid up front and $11.5m is payable over the following 12 months.

Net they have 250m tons of material for a cost of $11.25m so it is only cashflow positive once they are able to turn the pile of rocks into cash.

FWIW, I think it is a very good deal. But the rapid ramp up in production requires capex to fund the processing at all the existing sites and that needs cash from operations which will largely hinge on getting the copper produced

You've got to love this message board. Discuss for hours the meaning of one word in an RNS when there is an Investor Meet in another 2 hours where the answer could be got in 5 seconds. :-)

Has anyone received this offer yet? I have only seen the RNS which said that applications were open from the end of last week.

The price is definitely looking tempting right now. Pondering whether to put some of these into my ISA next week.

We're also coming to the end of the tax year so shouldn't be surprised if some of the price movements look unusual.

2pm in the UK, I beleive.

I added a little today - though not at the late afternoon prices. I figured this has good potential to be worth at least 2-3c the current price over the next few years and the larger holding gives me a few more realistic options to take profits when then the price recovers.

Agreed. Presentation was solid and very encouraging - company has c£400m nominal value of tax losses and plenty of reserves (though I do wish they would help the non-specialist when bandying around terms like 2P and 2C).

As for Enquest, I too am not overly optimistic. O&G investors are grouchy types at the best of times so how we get two groups of shareholders to agree on something is beyond my ken.

I simply took 3 times $844m to come up with my figure of $2.5m annualised costs (presumably the $3.5m you quote was a typo).

As for share based payments, the results state that "the fair value of the equity settled shares, options and warrants granted is expensed over the vesting period..." suggesting this will be a recurring cost.

I don't think the £844k figures includes any costs relating to the capital raise.

Lemonade,

Among the questions at the end of the presentation, the CFO explained that 90-95% of wines sold in the US are locally sourced. I hope this would help clarify how exposed they are to the tariffs.

As you say, it doesn't work multiplying $415m by 52 weeks when they won't even be working more than 46 weeks and that's payment for work will keep them busy for many weeks (but hopefully not more than 9 weeks if they are spending $844m in the 4 months to 31 December).

It's all relative. The chatboard forum is probably not the best place to compare whether or not the ENQ or SQZ shareholders are better off as we have seen by suggestions that they should get a large share because of their debt - which would work fine if the ENQ shareholders kept all their debt.

From the RNS:-

"The Company introduced share-based compensation prior to the listing, under which the Company receives services from employees and certain suppliers as consideration for equity instruments (shares, share options, and/or share warrants) in the Company.

:...

The total expense is recognised over the vesting period, which is the period during which all of the specified vesting conditions must be met."

So the question is whether these share-based payments were simply a one-off cost prior to listing - which means they raised £2.4m for net capital raise of less than £1m - or an on-going cost which has yet to be fully recognised?

Clearly this is key to understanding the cost side of the financials, a point on which I am only a little more clear than I was prior to the RNS

The RNS talks of 5.6m share options granted in the 4-mth period for a company with around 17m shares.

Correct me if I am wrong but does this mean that management and the BoD have awarded themselves 25% of the company for only 4 months of work?

I do have my answer and they are potentially spending $2.5m per annum which is above the range I was expecting. The share-based payments included in the operating costs is rather startling and does reinforce my view that the TEK culture is heavily embedded here in GNIP, particularly if it is a figure covering only 4-months of operating activity.

Cash position at least is healthy so we're at least safe for now from any immediate need for cash. But the SP discount is going to hang around as long as the Board and management can help themselves to shares for free.

Why do people care so much about pilot salaries? Might it perhaps be because there are lots of ex-pilots who own Jet2 shares?

Small top-up today. Didn't think I'd see the £10 level again.

I think the market is getting annoyed here about old news, though perhaps the cost side of the equation upset it more. Perfect in some ways for me because I get to dump a load of shares in an ISA next week so I picked up a few more today and will still managed to sell those at a capital loss before shifting them into a tax wrapper.