Member Info for CrustyPete

The PI scheme is 187 million actually John 2015. So less than 3%....

Many were paying 0.67 -0.68p for a few million this afternoon Benroon, so I for one will be happy to subscribe for a few more. Indeed have already requested £22k worth over two accounts. Would do more but no cash in other two accounts and don't want to sell other holdings to buy more.

Using that same analogy Ben you first have to analyse whether that additional £10 raised will add to the value of the underlying asset. On day one £10 but over time what will happen to that £10? If, as is often the case it gets spent with no long term accretive value the net effect will, eventually be ZERO... and yet all shareholders will have fewer shares (relatively). If that £10 is to be spent on development that could increase the NAV in the longer term then, over time it may increase value.

What the immediate effect will be , will depend on the markets interpretation of that potential future value....

Currently no-one knows what that £4.5m will buy us at Galactica or for that matter the £4 on Rukwa, so it is currently impossible to see what that accretive value is likely to be. All we do know is that come this time next year it will have all been spent - only then will the benefit of that £11m be reflected in the NAV and Market Cap.... and even then likely as not at a significant discount.

Moreover IF an AIM listed company is raising capital through shareholders via a rights issue it has to formally give shareholders 21 days notice of that raise. Now I have already said that I do not think this will be a "rights issue" and the company may already have articles that circumvent AIM rules but that means we could yet be waiting three weeks before we get the chance to invest and that VWAM won't be known for quite a while yet.

We have not yet got a fixed date for the raise, so the VWAP for the 10 days prior to that date cannot yet be calculated....

Currently 10.805 - 11.29p for 100,000 - so no great change over the last few hours.

Sorry that should have read 10.755 - 11.32p and, of course that was just a particular point in time and with "II" - may be different elsewhere.

Crypt, I very much doubt that it will be allocated based on individual shareholding (That would be a "rights issue"). My expectation is that there will be x00 million shares issued and everyone will be asked how many they want - they will then get a %age of their requested allocation based on the number applied for. So maybe if you ask for 1 million but the shares are X2 oversubscribed you may be allocated 500k etc.... the allocation may not be "pro-rata" - those applying for more may not get as many, pro-rata, as the smaller subscribers. So everyone gets at least 10,000 or their requested allocation, whihc ever is the smaller and after that pro-rata etc.....

Currently trading 10.755 - 10.32p for 50,000.

It would be good to see that Golden Cross!! Anything is better than nothing.

Then the problem appears to be yours Blubay and not McNol's..... no problem whatsoever from my viewpoint.

That said, McNol rarely attends these General Meetings in person but usually sends a "proxy". On that basis they may well be awaiting a "report" before posting.

Blubay - McNol posted here at 10.38 this morning!!

Was that to be today's high water mark? I suspect so but, all in all, a positive response to today's events. We need more info on the £1m placing for this to really take off in my view.

I was hoping to have had some "live" reports by now. Does their absence mean that the GM is still continuing?

The placing is unlikely to be for a week or so in my view and hence the calculation of the "discount" will prove to be a lot higher I think.

Wimbledon, I commend and congratulate you on your recent BUYs. That was ballsy - I have to admit that I didn't have the courage of my convictions and chickened out; choosing to wait for the "placing".

All power to your elbow.

So Blubay - you still think the £1m PI placing will now be at 0.52p or thereabouts?

Exactly deep hence my belief that, as I cannot turn up "on-time" there is little point my attending; I could end up travelling up to London only to find that it is all over. 😖

Thanks WTP, yes indeed, very useful.

He1 have an existing option for first refusal on alternative Bluestar assets so that is, of course, possible BUT I doubt they would want to have their, very limited, capital spread too thinly over other assets until such time as the Capex on Galactica has been more than covered. They are already having to cough up considerable sums to get Galactica to production and they cannot afford to back two horses simultaneously methinks.