Member Info for dai2belts

Thats £20m with the 19:1 offer, £20 some other way...

Not sure what the shares could do before the 19:1,
But When those share are listed I am estimating less than a penny at todays MC and raising £40, but have not read the AGM doc

I would check the AGM doc about the 19 for 1 shares, when that is likely to happen, before or after the pilot,
That £40m raise, It doe not say £40m will be raised with a 19:1 but " the Board expects to propose a capital raise of approximately £40m, which will ** include** the 19:1 ordinary share issue **mandated** by the Scheme."
So if they raise just,, say £20m the new shares will be worth less, so a bigger discount, so on listing the share price will be pushed lower..
IAG did a big raise and placing September/October 2020, take a look to see how the share traded, around entitlement date, after entitlement until the dilution occurred, volumes and price..
Rolls Royce too, but it was being shorted so some crazy daily movements, made AIM look tame

I doubt he will be interested, probably knows, I get the feeling his passion is He1

Just wondering why the rise on the 14th since the AGM Sept 28th set out the placing.
I will show my workings, rough estimates, so if I am wrong let me know...

So 19 for 1, thats 20 share including the 1 already issued
Same as 1+19=20 or 1x 20=20
So 20x shares in issue. 20 x 475m=9,500m
So new shares 9,025m
And the original 475m
New shares issue price (£40m/9025m)100= 0.44p.

On day of admission, listing new shares,
Using todays MC, £20m+£40m(placing)= £60m MC
New share price, 60/9,500 =£0.0063 or 0.63p

If the debt is convertible into shares, again at a discount to share price, then there will be further dilution until debt is cleared

Yet 25m shares traded, ????
Maybe traders were buying, and pushing up the price believing there would be demand for the shares, people wanting the new shares 19 for 1??

What do you think the next RNS's will be, and when ish ??

19 new shares for each share, thats going to be some dilution...

As set out in the Company's AGM statement on 28 September 2022, the Board expects to propose a capital raise of approximately £40m, which will include the 19:1 ordinary share issue mandated by the Scheme. In addition, Amigo will raise debt to support future growth. The Company will seek to facilitate meaningful participation by its existing shareholders on a pre-emptive basis, underwritten by one or more institutional investors whom it expects to account for the majority of the capital raise. The capital raise process has progressed to formal marketing to potential new investors.

It rose almost 40% on that RNS, 3.75p - 5.4p,
25m share volume compared with todays 1.4m
So plenty watching..

Ensure key events is select, top right of graph,
https://g.co/finance/AMGO:LON?window=1Y

But that RNS is heavy reading, pilot scheme 2 months and placing £40m.
£15m payment to the Scheme fund for creditor redress.

Crooks, only the desperate would take a loan at almost 50%
Amigo will offer a revised guarantor loan product, starting at 39.9% APR, and a non-guarantor unsecured loan, starting at 49.9% APR

Put it into a calender entry with notification

Nice long drill so hopefully the traders will play long enough for No1 to notch up another win
Up to 87 days, should break it down into tasks,
Is there a side-track planned on discovery ?
if time seems long it could be due to testing a discovery..

The screening doc is the signing off of the EIA environmental impact assessment, so permission to drill can be given..
Worth a read, nothing complicated, just gives some insight
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1113223/DR-2275-0.pdf

Just watching to see how they moved, definitely a 12pm thing going on for some, so thats the New Yorkers.
Some peak and fell back in the 1st 30 minutes the rose again.
And a quick look at the RNS should be in order, not done, just looked at eee rns title..
Just been reading up on Tower, who like to issue RNS for other companies discoveries, even if 950km away from their licences ???

This is the BB for ISA Millionaires, thats why Tro is watching lol

Kev Play He1 like a trader,

@Troajan, I was surprised by the rise so early, then when it moved was worried about being spiked..
Just hope He1 is on the list for a pump to 15p again, and EOG, 15p also lol

Screening Doc has been signed off
Talk about pollution
Non-routine flaring will take place during well clean-up and testing with a maximum flaring period of up to 80 hours and involve flaring of gas up to 2,161 tonnes of oil equivalent.

The drilling of the exploration well will be facilitated by the jack up drill rig, Maersk Resilient, and may take up to 87 days to complete. The project will be supported by three tugs, a supply vessel, an emergency response and rescue vessel and helicopter trip

Best of...
Empire Metals Ltd 47.10% hit 80%
Baron Oil PLC 22.50%
https://g.co/finance/EEE:LON?comparison=LON%3ABOIL

TomCo Energy Plc 15.22%
THG PLC 16.28%
https://g.co/finance/TOM:LON?comparison=LON%3ATHG

Scancell Holdings Plc 15.81% hit 38%
Made.Com Group PLC 89.86% ;(
https://g.co/finance/SCLP:LON?comparison=LON%3AMADE

I dont know, they have highlighted some aspects of mou-1 which my research suggests is no more than DMs bubbles, but other bits suggest something big
But I dont know enough to know if what I read applies, so cautious...
And I am not sure if that share price is going to rise much more, board seems lacking a buzz too..

@Troajan, Ta, I had seen one of your early movers posts before, now I know its a daily update :)
Do you think QFI will drop below a penny again ?
0.80, did you load up, I would have wondered why so low

I take it the rig is based in country ?

If its true about 9% of the worlds fleet, which googling gives 700 in 2021..
Diesel supply is also becoming tight, will be worse when europe has to stop buying from Russia... There is school nearby, people turn up, some an hour before close, engines idling the whole time.. People unaware..
https://oilprice.com/Energy/Crude-Oil/Diesel-Crisis-Deepens-As-Inventories-Fall-To-Dangerous-Levels.html..

Diesel Crisis Deepens As Inventories Fall To Dangerous Levels..
https://oilprice.com/Energy/Crude-Oil/Diesel-Crisis-Deepens-As-Inventories-Fall-To-Dangerous-Levels.html
Oct 18 '22
Covid, and the anticipation of a boom in demand for EVs rendered a lot of refining capacity obsolete

Europe is currently buying a lot of Russian diesel to fill the gap, but this will have to stop next February as the embargo on Russian fuels kicks in,

QFI, maybe able to help, but has no customers

So not enough diesel refineries and not enough capacity to process LNG...

Thanks to our leaders green policies

So will Ireland want EOG to start exploring and PRD's mag mel project

https://oilprice.com/Energy/Energy-General/IEA-The-Current-Energy-Crisis-Is-Unprecedented.html
"Meanwhile, as many as 60 LNG tankers have turned into floating storage off European coasts as there is not enough regasification capacity on the continent to unload the cargo."