Member Info for EricDraven

Gunnar/Pocko. Ok. Thanks.

Gunnar, with due respect. Our latest RNS explains the current financial position, which is:

“The Company, with support from its advisers, continues to manage its cash and creditor position and anticipates retaining sufficient cash to continue trading through the next few weeks while it seeks to finalise the strategic investment. The Board cautions that the Company now expects that it will need to secure additional financing by the middle of June in order to progress its projects and provide working capital for its operations.”

So it’s weeks, not months. If I’m correct. Unless I’m misinterpreting this RNS.

Best regards.

Afty. Oh, it’s right to the wire though Sooz. We shall soon know. 🤞

Suzy, it’s fabulous if we can get the money to finance it. We know that.

Gunnar, never mind that, we are running out of money in a few weeks, and Ed has had a full six months to prevent this from happening. He’s cutting it fine, with still no firm financial agreement in place to take the company and our projects forward. That’s the reality of it.

Pocko, fair comments, and we’ll soon know if the lights remain on with a late deal, or what the next steps will be.

SJ, yes. Going off the November RNS. Six months up, but still a little time left.

Last minute job, as usual.

Like the value-adding powerhouse that is, (drum roll) the Vardar project!

Millions of £ spent, a real boon to our resource onion bag, proven up, oh, that’s right, proper f’all of commercial value.

Doesn’t matter though eh, it only looked bad on paper. 🤣

Pmsl.

Gunnar, sorry but I’m not sure what you are talking about AI for.

Imagine the Ohio Valley, where lilies might have grown,

Instead of tea, a café au lait, upon the royal throne.

If Montcalm held the fortress high, and Wolfe had lost his way,

Perhaps our Yankee Doodle would have sang a French Marseillaise.

From New Orleans to Montreal, a single, flowing tongue,

No tea-soaked harbor, no July, a different story sung.

But the Redcoats held the frontier line, in a story we all know,

And kept the English accent, where the Mississippi flows.

Gunnar, yes, add a touch of light to this if you like, good that you are optimistic. A personal choice, even though it’s based on ‘what ifs’ at the moment and not on what we actually do know to be the case, the harsh reality of our situation.

Anyhow, best wishes to you.

Suzy, fair comment, but what has Ismet done so far exactly? It’s almost May and we have yet to hear of anyone coming in to make a firm offer for Vardar. When we absolutely need it to be sold.

I’m only going off what we do know, not musing anymore about what may be occurring.

Gunnar, for the sake of balance, that RNS sentence is immediately followed by this wording:

“While discussions are at an advanced stage, there can be no certainty that financing can be obtained or on the terms of any financing.”

An important note from Ed. In my view.

So no point in musing or getting excited until the actual next news comes re our latest financial situation.

Gunnar, I agree with Lb, we need solid news from Bowie re where the money to keep us afloat is coming from. Nothing else matters at this stage. Vardar was to be sold, that has not happened. That we know of. Why not? Also with Grafintec, it seems we’ve done close to nothing. We have essentially been paying wages out and running on a care and maintenance basis only. Ticking over and sinking lower.

It doesn’t matter how many meetings we’ve had, there’s no point in adding garnish to sh.ite.

Pmsl. We’ve been saying that for nearly two decades.

Well someone is having a right old go. A 100k share purchase went through earlier.

Good luck to whomever that was.

I would perhaps look for something more stable, like investing in a burger van. Lol

Lbjj, just seen your message to me from a while back. Thank you. Hope you are doing ok.

Hi Bans. No, I couldn’t give a toss anymore. I was 97% down when this was in double figures. I’ve already mentioned my thoughts on it all.

No news of a Vardar sale yet. That went quiet. I’m not sure if this has any relevance, but three lots of loan notes seem to be left to convert by the £50,000 per time lender, in return for shares.

Precarious position now though, hence the Friday lunchtime RNS.

Bowie at least telling us how it is. I’ll give him that. We do seem to have been in late stage talks re financing for a significantly extended period of time, so I guess wait and see.