Member Info for fatherelmer

BMB, there are pros and cons.... - usually there is a little retrace immediately after such a thing (not sure what'll happen here) - should make the SP more stable and less prone to extreme movements (though they still can happen) - makes the likelihood of multiple 100% 'multi-bagging' less likely IMHO - may become more attractive to II's (part of the Odey exit strategy?)

Yadge, read this mornings AGM RNS a 1000:1 Consolidation is clearly stated as a resolution being brought before the AGM. Thing to note here is it is a simple resolution and so only requires a majority vote, given that Odey hold 65% of the shares this is a 'done deal' so will happen very quickly after the AGM (probably within a week IMHO). Ever since the OO when the share register became flooded a consolidation such as this has been on the cards, originally I expected it to happen at the same time as sorting the repayment of the outstanding Odey loan, but as this has been put off for another 12 months, this is no longer the case, though still not surprised it's happening now or at the ratio.

Apologies, schoolboy error in my posting - whilst the total value of �600 is correct for your 1m shares post consolidation the decimal point in the other numbers was wrong - post consolidation you will have 1,000 shares of 60p each giving the total holding a value of �600.

Ruleofthirds, the 5p quoted is the nominal value of the shares not the actual value. The actual value is set by the market and can be above, or below, the nominal value. So your 1m shares will become a holding of 10,000, which if the current price is the one on the day of consolidation will make them worth 6p each so £600 in total.

I suspect that until 'first metal' is announced (ie production started) there will be similar movements, up and down, allowing traders to potentially make small profits. After that, as you say hopefully there will be a rerate.

One of the reasons for this is probably the range of airlines flying in....if only this could be repeated for other cities in Zimbabwe....

PMayock1, whilst I understand the overvaluation argument, and have even made it myself previously, advocating a 'correct' SP of ca. 22p is actually too low - remember last October when the SP was last at this level we'd just had the IAI RNS and a fundraiser at 18p - at lot has changed since then. If you had suggested an SP of ca. 60p, or about where we are now you would be more realistic in your argument.

Great to see! Thanks for posting (I'd practically given up on checking the website for updated photos!).

Always good to see, but they really need new routes - especially with the incoming ATR72's....

Krispy / SirG, whilst the $2m due on commissioning should be enough to cover the annual running, and extra, expenses, costs over the next 12 months, it'll only postpone the loan and cash crunch issue until this time next year. By then of course SPMP should be in production, which may mean mezzanine loan repayments (ca $1.3m in interest alone) and other funding options but still ca £5m required to pay running costs and Odey required before SPMP dividends come in. SirG makes a good point about the fact that all parties appear to be working together, which is a good thing / sign.

Good to see - well done FJET!!

https://www.scitecheuropa.eu/graphene-materials-standard-future/86303/

Fred, still here, been busy, and it's nice to be missed (though I'm not sure if you are being ironic!). As for the deal with Luxus / WMG this is the best deal that VRS have done so far, IMHO, as it is truly transformational, and fits very well with all others, adding value to them all, and derisking them all whilst giving VRS more of the value chain. Could even remove the need for local production and any transport related issues (and even remove the need for the China JV as they could go direct to the end user) so as I say what's not to like??

Maybe Arden are better suited to the next phase of growth and / or there were performance issues with the previous one??

Can't say this is in anyway surprising. I guess any Zambian ambitions are now firmly kicked in to touch and the chance has been missed / passed....to think there was once a Zambian registered aircraft within the fleet...

Interesting podcast, thanks for posting😊

Been busy so missed this yesterday. Good to see such a comprehensive update, and clarification of a few things, even if not all the messaging was good... - there has been a further delay (though we are getting closer) - the cost of the OAR has increased again (by $3m to $112m) - levels of debt have been clarified (£2.4m) - Odey have agreed to push the loan repayment date back by 12 months - there is a large unexpected expense (£0.4m) due over the next 12 months - the business has insufficient cash (£0.4m vs an annual requirement of ca £0.8m) to cover its running costs - further fundraising (my guess at least £2-3m to cover the period until SPMP starts paying dividends) is required, and whilst a number of avenues have been identified there is a lack of clarity as to how they will do this. I think this will need to be resolved in the next 3-6 months On a positive note the risk profile, whilst still high, is lower than it was.

https://mobile.twitter.com/IamMrHaas/status/989444558630150149

From this it looks like the ATR are bound for Tanzania, and possibly Mozambique.

Sylvain speaks (sort of!).... https://atcnews.org/2018/04/20/fastjets-chief-operating-officer-sylvain-bosc-answers-questions/