Member Info for DowntoEarth

Whizzer, what's your average price? (I'm assuming you are a shareholder) If it's below 4p, why did you not bail and save yourself this daily misery?
One thing I will say about Tony Gilby is this - The day we get an RNS saying he's left the company, is the day I sell up. For all his perceived faults in delivering the finance and the PPA, he's still the main reason why I'm invested here and I think that applies to most shareholders.

640p

These tiny trades of just a couple of quid are really weird. Don't know what to make of it.

With the results date now confirmed for the 30th rather than investors/traders having to speculate a date in the middle of October, I reckon the SP will rise significantly in the middle of next week.

The number of trades is still quite small. My gut feeling is that the price is walked up because the immanent funding that they've agreed will involve a decent chunk of dilution at a price higher than the last cash raising exercise. Having said that, if for example they announce $10 million of funding with 30% via equity at 3p per share and 70% by way of a loan I think the share price will be significantly higher than it is today, because the funding allows the company to progress.

Interesting. I've made a few buys this morning and most are showing as sells. Sneaky MM's

How does that work when they paid 2.4p and no sales have gone above that price?

Looks a bit livelier today, I suppose it can't get much lower.

Just share the response you got, warts and all. No need to spend a couple of days rewriting its content to suit your agenda.

Brad,
I think this should answer your question:

'The Client in consultation with Botswana Power Corporation (BPC), BPC Wayleave officer and
sub-land board(s) has finalised the 66 kV line route alignment. The line route right of way /
wayleave has been secured from Serowe Substation continuously all the way to the Lesedi
CBM Power Project throughout the whole line route length. Tenderers should assume that the
necessary statutory approvals in this regard for the proposed development to proceed so as not
to delay the implementation of the (line construction) contract.'

Unaudited Half Year Results to 30 June 2020 are due any day, which would explain why they haven't updated the market on the cash position yet, like they did last month.

'The call was really positive and I look forward to seeing an RNS in the next few weeks.'

There lies the problem, whilst the call is comforting to know things are still progressing, the fact that the conclusion of a deal is still some weeks away will cause the SP to continue to drift until investors collectively become fearful of missing out on a cheap price. Why would anyone buy right now knowing that news won't be forthcoming?

I'll try and explain it in simple terms - if the equity issue is on hold and Alchemy are 'supportive of providing further capital to the group' the company can't issue equity to Alchemy without Alchemy making a formal offer....LOL

Couple of observations from me:

'Pending the outcome of this review, the Group's consideration of a possible equity issue has been put on hold for the time being.'
Presumably this means that when the equity issue comes, it will be at a significantly higher price than the SP was on Friday, and there is no point proceeding until FCA review is addressed.

'Alchemy, the Group's largest shareholder, who was supportive of the proposed capital raise, has confirmed that it remains supportive of providing further capital to the Group and is engaging with the Board in this regard.'

Alchemy own 29.95% already, surely any increase in their equity holding over 30% will result in them having to make an formal offer for the company?

Tony Gilbey has just subscribed to buying 12 million shares at above today's SP, does that not mean anything? He clearly knows how this is going to pan out even if it hasn't been clearly conveyed to us in any RNS.

'We should receive some permit news in the coming weeks / months, which will give a much needed boost to the SP'

.................

You don't worry that AE could use their connections / influence to ensure that such approvals are withheld until any derisory offer is accepted by Asiamet? I know I do worry about this and I'm starting to get the feeling we're well and truly over a barrel.

Maybe in the 2 months that AE carried out due diligence on ARS, Asiamet forgot to carry out DD on AE? The market seems to think Manini is getting into bed with a bunch of crooks.

Orapa diamond mine acquiring Tlou energy to secure their long term energy demands, what will people think of next?

Why not 10%? Maybe because they would have lost interest in a deal? Who knows. The point is, it's way too early to say that it was a mistake to give away 20% on the cheap if AE's involvement transforms this company's value.

"You made already a mistake offering a huge chunk of the company for peanuts"

Was it a mistake? Directors acquired a sizeable chunk for themselves for peanuts, sounds like a shrewd move on their part to me. Besides if it was a mistake, what was the alternative?