Not convinced. I did put out that the theory a few days ago that maybe the Euro wave was indeed driven by Omicron. If so then have you seen the hospitalisation rates and death rates across Europe. Germany, Poland to name a couple. I wouldn't say it's completely mild.
Thanks for reminding me Deanok. Thought it would be worth posting the transaction terms. What's taking so long then?
Alien currently has a 51% direct interest in the Project, with the remaining 49% held by Windfield. The Project consists of exploration licence EL47/3953 Brockman and EL47/3954 Han**** licences in the Pilbara region of Western Australia. Pursuant to the SSA with Windfield, Alien will acquire an 80% interest in Windfield, thereby bringing Alien's direct and indirect holding in the Project to 90.2%. Alien has agreed to acquire Windfield on the basis that its sole asset will be the interest in the Project and on a nil net cash basis
1. The Upfront Consideration payable for the transaction is set out below subject to satisfaction of the conditions precedent including Alien conducting legal, financial and operational due diligence on Windfield and being satisfied, in its discretion, with the outcome of that due diligence:
a. £60,000 cash (less any Set Off Amounts);
b. 200,000,000 UFO shares issued at a deemed price of 1.1 pence each ("Deemed Issue Price"); and
c. 50,000,000 share purchase warrants, exercisable at 1.65p to the Deemed Issue Price payable to the advisers to the transaction.
2. Following completion, Alien will appoint 2 directors to the board of Windfield and will be responsible for day-to-day management.
3. Alien will free-carry the shareholder in Windfield (effectively a free carry of 9.8%) until completion of a Bankable Feasibility Study on either the Brockman or Han**** Ranges projects.
4. If, within 24 months of executing the SSA, Alien disposes of its interest in Windfield or Windfield's interest in the Project, the Company will pay the Windfield seller a performance payment in addition to the Upfront Consideration ("Performance Payment").
5. The Performance Payment is calculated by:
a. In the event of a Tenement Sale: 50% of the value uplift attributable to the Projects; or
b. In the event of an IPO/Spin-out event: 50% of the value uplift attributable to Windfield
Windfield's sole asset is the 49% interest in the Project and in the year to 30 June 2020 it reported minimal revenue, a loss before tax of A$191,573 and Net Assets as at 30 June 2020 of A$191,473.
Hi Dunc, well done for calling the top. Well as you bought in at 410 I'm guessing you now think it's going back up. Which I'm sure you'll call the top again and then buy back in close to the bottom. It's an unbelievable foresight you have lol
Consolidation. Last 2 weeks we flew. 2 red days and still £4.
Traders have had their chance to get out. With sentiment around the variant I expect sells to dry up and buyers to start getting more confident. We all know what it's like with ncyt, no wonder the buyers are hesitant. Once the sells stop we should start moving again. No II's coming on board yet with dispute still unresolved so it will be solely PI's that take this up. This means we'll be hit with resistance at several points on the way up.
The right piece of news would be a nice fire starter.
RE: 2 or 3 days to next monthly loan repayment29 Nov 2021 22:05
I think it's plain to see that Syme will continue to convert until we have cash coming in. The guidance is that will be Q1 so as AZ is prone to missing a target or 2 let's say Q2. So conversion will happen all the way upto May ish. By then talks will have begun for the next financial package unless which if cash is coming in might by debt instead of equity. Debt much much more cheaper hopefully.
Let's stop using the conversion as a deramp as it should now be priced in.
I honestly don't know. Logic tells me we'll bounce back and have a decent blue day but AIM is far from logical most of the time. I'm long term with some small open swing trades I'd like to close before Xmas. Worse case scenario, I can wait.