As you say given that we were at 10p I would agree, but surely any excitement shown is from the point at which we are now and imo, is perhaps knowing that finances are finally coming together and showing a light on the way forward for the practical next stage.
Apart from the those working the agenda, nobody is happy where it has gone but most will be relieved that we should be able to move forward on the strength of this.
It is really quite simple Max, they must still have a hope that it will come through and until they are sure that it won't, why should they push that into the market. Over the cause of negotiations I believe they had quite a few monthly meetings on or around the 20th of the month so maybe they have one planned at the moment, who knows. I do understand the frustration, we all feel it, but is two more weeks of waiting really going to hurt us?
I can't disagree with that, the money market is only interested in it's own margins but the way this appears to be structured I can't see a way for them to profit right now without the sp rising after the 26.83% premium they are a committing too.
SG in response to your earlier point
"In the event that there is a Balance at the end of the period of the ISA, the ISA will be extended and the Company will continue to receive Monthly Payments until the Balance is extinguished. " Unless I'm reading it wrong that point to us getting the required cash.
On the point ou make "Completely against their normal way of business which makes me slightly uneasy." I take that as a good sign that they must be ultra confident in a climb.
Although the company have agreed not to disclose inside information to these investors, I would bet my life on them having an awful lot more knowledge of reality than we ordinary PIs do. Committing to those sort of levels of financing would surely require a bit more than ifs and maybes. So all is good from my point of view
I think that was made pretty clear recently cp and Pete did call it right as it turned out, despite the companies official stance. I saw the potential in what he said but with facts from the company pointed the opposite way I could not just accept it and it's a shame we came to verbal blows over it when our own personal knowledge put us into conflict.
Just to be clear, I don't feel the company were trying to deceive us in any way because it was government delays that forced them to back off from spending the money on remediation that may or may not have been successful. In the unknown situation of not knowing when the next cash input would come it would have been foolish to continue imo and as you say cp we are unlikely to see any physical action until we get the go ahead.
A question I have in my mind is... If we were told straight away that it would take almost three years to get to the next stage, would we have dropped from 8p to where we are today? or, would we have stabilised somewhere in between? I ask because in my view it has been the not knowing and the uncertainty that has allowed the bashing of the share to where it is today. The Bod couldn't have predicted such a delay but though it doesn't matter it would be interesting to have a view on a price
As you say how they calculate that one is a mystery as they are covenanted not to trade more in a day and 50% over the whole month. I assume the arrangement is to prevent a flood the market.
Based on the almost 4.5 million per month figure it means they cannot trade more than 900k in any one day if I'm reading it right
The Investors have covenanted to the Company:
· That they will not dispose of any ISA Shares for a 30-day period commencing on the date of Admission;
· Not to participate in daily trading which represents more than 19.99% of the daily trading volumes of trading in the Ordinary Shares at any time during the term of the ISA;
· Not to forward or short sell any interest they have in any Ordinary Shares during the term of the ISA;
· Not to lend the legal and/or beneficial ownership of the Ordinary Shares they hold during the term of the ISA;
· Not to use the Ordinary Shares they hold as security during the term of the ISA; and
· Not to acquire more than 29.99% of the voting rights in the Company during the term of the ISA.
The structure itself is designed to remove any incentive on the Investors to lower the price per Ordinary Share. Essentially, the Investors are "long" of the Ordinary Shares and sell them in order to return the proceeds to the Company while making a return through the fact that the benchmark price is above the Issue Price.
No point regurgitating old issues. They've given the answer to that and it's well documented. We are waiting for the fuse paper to be lit and we are going nowhere until it is. BTW no LTH here expect it to happen this month so when it doesn't happen I wouldn't expect much movement. If you can it seems a great opportunity to me
An extremely reliable source told me a few weeks ago "no need to worry about gas demand, there is projected to be a massive gas shortage and in the coming years the government will take as much gas as can be provided". On another occasion we were discussing how long before the LNG plant would come on line and my guess was 10 to 20 years. I was told... with some authority the LNG could take between 20 and 30 years to come on line.
My only concern here is WHEN? and so IF, is not even in the equation for me! As always DYOR