Member Info for dai2belts

27th Sept, seems like its sounds a quick job ??

https://www.youtube.com/embed/7BGXaJ-kfSk

Lots of 10% daily changes

https://invst.ly/11o27g

https://invst.ly/11o2a1

Nice tight spread, doing +10% bounces..

Any idea how long this phase of testing is expected to take ?

https://invst.ly/11o23w

Two interesting trades, full Ask too, and on the morning high, so very unlikely to be sells

09-Oct-23 08:35:23 4.90 350,000 Buy* 4.70 4.90 17.15k O

09-Oct-23 08:35:23 4.875 350,000 Buy* 4.70 4.90 17.06k O

LTI, spot on so far, those 30p investors up 60%, should help with their losses..

He1, only at the top of the lake beds, at Tai-1 that was about 70m, I see sellers in at 4.9

IAG, down about 4% this morning..

Could be an update due, as mast was expected to be repaired over the week end..

"Once repaired, the mast will be installed, with the rig then being 100% ready for commissioning and acceptance testing prior to spud"

If they start drilling mid-week they could be at TD before He1 restart drilling, especially if there are delays..

Maybe a show announce on the way....

https://announcements.asx.com.au/asxpdf/20231005/pdf/05vq5g105h86kv.pdf

Whats the thoughts on the post from Metros BB

longtimeinvestor

=============================================

"So a further 500 million shares in issue making a total of 672,676,547 shares in issue?

At 50p that would give a market cap of about £336 million.

The capital position would have improved by £325 million. Some bondholders getting a haircut and a sale of some mortgage assets on the cards.

I would have thought the total of this outcome would have resulted in a positive price per share later today?, but of course the market will decide as usual, taking further out prospects into account."

=============================================

Thats some discount, will it go sub 30p...

6.89% shorts open on this one, RR had crazy swings when it was in difficulties...

Got the 30p too

FT.com

The stock issued as part of the equity raise will be priced at 30p per share, a discount to its 45p closing price on Friday, and current ...

https://www.ft.com/content/4eb2aa0a-0c35-43ee-b921-ffc6cc5cdc58

Mmmmmmm.

Bail-in is one of the stabilisation tools available to the Bank as resolution authority under the Banking Act 2009. Bail-in ensures investors, rather than public funds, bear losses where a firm fails. ???

A bail-in provides relief to a financial institution on the brink of failure by requiring the cancellation of debts owed to creditors and depositor

Okay I see it......bond holders are taking a hit

The deal also involves a restructuring of its debts that will extend the maturity of its borrowings, with holders of a 250 million pound Metro Bank tier 2 bond due in June 2028 taking a 40% haircut.

Holders of that bond will be swapped into a new bond paying a 14% interest rate, while holders of a separate bail-in MREL bond will switch out to a new one paying a 12% coupon.

Where does the 30p come from ?

"The bank announced late on Sunday that it had secured a £325m capital raise, including £150m of new equity from shareholders, and £600m of debt refinancing."

The lender - which launched in 2010 to challenge the dominance of Britain's big banks - said the capital raise comprised 150 million pounds of new equity and a 175 million pound issuance of bail-in debt known as "MREL".

https://uk.investing.com/news/stock-market-news/metro-bank-secures-capital-colombian-billionaire-gilinski-takes-majority-stake-3182760

What is a bail-in?

A bail-in is a form of financial relief for banks that are in danger of collapsing or going bankrupt. The relief comes from canceling some or all of the bank's debt by reducing the value of bank shares, bonds, and uninsured deposits.

How do you reduce debt by reducing the value of bank shares, bonds, and uninsured deposits ????

The bank announced late on Sunday that it had secured a £325m capital raise, including £150m of new equity from shareholders, and £600m of debt refinancing.

https://www.theguardian.com/business/2023/oct/08/bank-of-england-sounds-out-buyers-for-metro-bank-including-natwest

@Tro, I wonder if Horults ML for ALL is due, could see a very good rise off that news, share is half price after that scandalous funds rumors

Thats not quite Muscles style,,,,

Lorna would have to have a nick name, and it would'nt be Saint Lorna

Na, there will be a RNS tomorrow letting us know about that show in the top of the lake beds, no pinch out this time ;)

I am 100% sure there is a 2% chance of it

Have you an eye on any stocks for this suspension ?

Mmmmm, what about this Roger

https://i.pinimg.com/736x/a2/4f/b2/a24fb28938b0a9e4085e362753ca4715.jpg

@Roger, you can pick up a code reader, look up the codes to see what faults are indicated then perform good old fashion fault finding to prove the code...

I had a fault recently with the car stalling when coming to a stop, and rough idling, fine otherwise... But the stalling suggested an issue with the timing being out as you came to a stop.. code reader said camshaft position sensor low, so sensor or wiring or Eng Man.. so it was a case of checking the voltages, and continuity to the sensor to eliminate the Eng Man and wiring.. leaving the sensor..

I borrowed a phone with an app, and wireless connector to plug into the car...

@Ezhik, Mike should have done that interview, but he has a habit of being a little more up front..

I am beginning to wonder who writes the He1 interview scripts...

During the latest interview she says they suffered a mechanical break down in the "MAIN rig carrier", which affected all power to the rig, ....

but the engine is deck mounted, as is the drilling rig, its not integral to the carrier, its central providing power indirectly to both via the hydraulic drive .... . its effectively a mounted diesel unit...

Just a technicality I guess