Member Info for CrustyPete

Blubay take a look at my 17:11 and 17:17 posts. Similar views.

Speculating BUT, if these "Institutional Investors" are Funds/PE - they may have sold them to an internal fund. Crossing the shares to an internal fund at a premium - funded by the end investor. Intraday price on the date of the OGM would have been 0.68p.

So we have seen one trade of 99,860,194 and another of 49,930,097.

I would be very surprised if we do NOT see another trade tomorrow for 49,930,097.

99,860.194 + 49,930,097 + 49,930,097 = 199,720,388

Exactly the number that were converted and precisely the number that was admitted to the market today.....

That does nothing to explain how or why they were "purchased" at 0.68p BUT the number is very coincidental methinks.

And its goodnight from me.

GLA

Well ManiDani, it is clear for all to see that you certainly do! 😉

Yes I still hold here ManiDani - but that is no reason not to be even handed with the actualite....

And ManiDani £9m in debt - until it is converted....

Thanks McNol.... useful.

Are we going to finish Blue?!

Maybe the last two days price drop was purely MM's making a fortune whilst filling a 49m trade!! Lol 🤣

Intriguing!!

Yes agreed McNol, hence postulating the "off market" option....

Must be a "delayed" or late reported "off market" trade, surely? Very peculiar 🤷🏼

Sorry McNol what 49m shares are you referring to? What have I missed?

Oh and "NO", I have no intention of "jumping ship" - having top sliced a number of times in recent history, my remaining holding is committed for the longer term. The only question for me, is when to add further and that requires clarity on things such as the likely return on our £4.5m Galactica "investment".

Consequently what our ROCE is expected to be, or what our cash flows, reinvestment requirements will look like over the medium term...

I could not agree more McNol, it makes total sense - but whilst I was not totally surprised I was more than a little disappointed at this recent conversion and, consequently have no great confidence that we will not see more of these before we get to ESP results and the contingent project finance. As regards Galactica I have to say that I think the market feels a little bit in "mushroom" mode. We don't know what the £4.5m is expected to fund and without that information, whether there will be surplus income from any near term production and conse

On good news yes McNol I would agree but whilst ML, ESP commencement, Galactica "build" are all positive, only once we get ESP results, Galactica "production" and project finance for Rukwa will any of them move the dial materially, in my view; I fear that any news other than that is likely to get sold into..... So some time to wait methinks and how much "conversion" in the meantime?

But McNol, as I suggested in my post below, there have only been circa 330m traded since 15th and, assuming 50% of those are sells that is only 150m, of which many will be from "the market" in general. Hence I suspect that it will be next week before the "conversion" shares are soaked up.

Moreover, who will be looking to buy ahead of yet another possible conversion? I, for one, will be keeping my powder dry until we get further clarity on a number of issues.

But london, add the 200m "overhang" to the "natural" sells from loose handed "punters" and you have, what? 300 - 400m to "soak up". Circa 200m traded over the last 48 hours and another 100m today, if roughly 50% of those are sells, that still only equates to 150m of sells.... so plenty more to soak up yet methinks.

But Daffy, MREX can source 10m shares at the drop of a hat from the CLN conversion..... there is a huge overhang of "spare" stock at present so the sp won't rise until that overhang has evaporated. And only then until the next conversion.... it is surely only a question of when, how much and at what price? Disappointing perhaps but best to be realistic.

But Blubay we have often wondered what He1 needed £4.5m for? Maybe they6 are "subbing" BLN until their raise comes through? Shareholder vote, of course, but who is going to say "no"?