Member Info for EyesRight

roughly 30 minutes in

Good to see this getting some positive attention today. I was beginning to think that some new kind of quantum physics theory would be needed to explain why the RBD share price was stuck in a motionless void in the fabric of the space-time continuum. I can take the weekend off then after all!! GLA

Yes, the investee companies are what keep us here. I still hold a decent chunk but it's less than 25% of what I once held. Like a lot of others I suspect, I have progressively reduced so that the occasional foot-shooting episodes from TERN no longer affect my overall portfolio to any significant extent. A lot of shareholder trust and goodwill has been unnecessarily burned. ATB

The warrants are valid for 2 years from issue and can be exercised (subscribed) by the warrant-holder at any time during that period unless and until the Company issues a call notice (which it can now do at any time of its choosing). Whether exercised voluntarily or following a call notice, the subscription price of 12p is the same. ATB

I'm afraid it's the usual worthy but dull monotone. It's not a horrible interview, but TERN must be one of the few natural potential Covid-19 beneficiaries to have seen a decline in share price.....

Hi MercMan. I'm afraid it's a bit hit and miss. You can register interest with the Company's broker or the Company itself, but they don't always respect their lists (if for example they can fill the placing easily with their regular clients). Once you are already a shareholder they make take more notice for future placings. Having said all that, the rules around issuing warrants alongside shares became more complicated with MIFID II and their incidence has therefore declined. At the same time, use of tools like PrimaryBid have increased which have helped retail investors to participate in placings on the same terms a bigger investors. Hope that helps.

It's hard to know, Mike. If they issue a call notice then there will be some investors who will have to sell shares to pay for the warrant exercise which will exert some downward pressure on the price while it happens. The effect will happen whenever a call notice is issued, but will be less pronounced if accompanied by other good news and/or a clear proposal for application of the warrant subscription funds. It's not pure dilution as the Company will receive the funds in exchange for the shares. I guess they may wait to see how much they get through volunteers and then issue the call notice to mop up when they can show they need the cash. ATB

The warrants are the ones you correctly identify. The distinction I was making is that for the time being, it is the warrant-holder who can elect to exercise. If and when a call notice is published, it becomes the Company's election. Hopefully, the Company will apply for a Block Listing for the full 33 million warrants so that it doesn't have to keep issuing RNS's for dribs and drabs.

I imagine that when a call notice is published, it will be together with a statement of the proposed use of funds so that everyone will be able to see the potential work programme and prospects for further added value. GLA

What changes with the 5 days at 16p+ is that the company can now call for the warrants to be exercised (use or lose). Such notification has not yet been issued but could come any time, sooner or later. The RNS today is for warrant-holders who have voluntarily exercised. I will shortly be doing the same. I won't be selling any time soon, I just want to get the shares into my ISA so future capital gains are protected from tax. I won't be the only one.... GLA

Timing is everything eh? Today’s RNS gives confidence that things are moving in the right direction. US$650,000 in cash and liquid assets added to the balance sheet along with the gem stock from sampling. Much more to come I feel. GLA

That video, Tamle, is as good as it gets. Once PRE are in production in Q1 2021, MCap should be 10X from here. Ok, there could be some money raised from institutions in the meantime, but there is still a stellar return available. And leaving aside the macro situation, the technical and commercial risks of the project are weighted to the upside imo. It is by no means too late.... GLA

Thanks Trek. I get where you’re coming from with GRL but I’m not sure we are big enough to be a t/o target. If we stop buying at 9p I could see it being a 2X play. I’m normally looking for things with a bit more leverage to the upside. How did IRR compare on your analysis? GLA

This is definitively the interview. You don't need to watch. Just listen while you do something else too. It all hangs together.
https://www.youtube.com/watch?v=lZzMhJSYIkk
GLA

The thing is, they have listed a business plan, not a business, so no one really knows if they can do it or not. The business has no intrinsic value until it has some content. Hence huge volatility. It is highly speculative, but could do very well. Fingers crossed. GLA

Hi Trek. I am also in here. I can see the short term value in GRL with early production but where do the legs come from in your upside analysis? Thanks

https://www.youtube.com/watch?v=QGkJ4EWemSY

I have no special knowledge of the situation but I do know and trust the judgment of the RBD board. It feels like they have been put up to this for reasons that are not yet obvious to us. It’s a buy and hold (investment) rather than a trading stock. GLA

Are you able to expand on the iffiness?

Well if it’s a tiddler you want, you could always try CGNR. There’s always a good blarney there as long as you don’t expect to find any gold, let alone produce it!

More seriously, if you are looking for somewhere to park top-slicings from GGP, then take a look at IRR. Despite its name, it is into gold and lithium and can get to gold production without relying on a major for farm-in. The assets have potential big enough for a major, but they are able to strike the right deals like GGP. GLA

What i am saying is that if RBD takes over DELT, then DELT remains the operator of its licences. GLA