Member Info for fatherelmer

colonboy, from memory Crispin Odey (72% TSTR shareholder) needs something like 48p just to break even, so for me it is unlikely that he would sell at a loss / just breakeven, in fact given he's been here for 3 years I'd say he'd want a decent return on his investment - say at least double his money, so £1 minimum???

Fuzzbox, the original expectation (in May) was 50% by end June - which it sounds like they partially hit - and full (ie 100%) operational capacity by end 2020, so March 2021 is indeed another 3 month delay.

Though remember this project is already over 3 years behind schedule and probably also 2 or 3 times over budget) probably 4 times with the additional financing being sought).

When they finally get to full running the debt load will be so high that cash flow positivity will still be many more years into the future. In time this may become a dividend payer but I would think we are probably at least 5 years away from that possibility.

HAYD don't actually produce Graphene but rather buy it in from elsewhere and 'functionalise' it for use. In the past they have been called (by Neill Ricketts) a partner, and customer, of Versarien, though I don't know if that is still the case (here).

The company has just said it will go out of business in the next 8 weeks if flight operations don't restart as planned (and even if they do it may well still be very much on a knife edge). They have also said that the planned investment / takeover talks have not restarted, and they did not mention whether or not they would (I don't think they will as why pay good money for the airline when SAHL [largest shareholder and leader of the investment group] will be able to claim assets and buy the company for a song when / if it goes bust in 8 weeks time)?

QD22, given the lack of any RNS'd commercial orders (ie ones at scale) the answer is likely to be no, however, the Prelims should be out in the next few weeks (if previous years are anything to go by) and so you'll get a definitive answer then. Having said all of that given the number of active collaborations, and other arrangements they have in place, 'even' research type sales 'could' add up to a useful amount eg how much was required for the 20,000 plastic bottle production run (and was this just 'raw' graphene or some pre-preg product?)

Moljen, not true just can't be bothered with the BS on the boards (and for me NR isn't the one spouting it - if he is guilty of anything it is [over] exuberance and excitement nothing else).

FF, hope you are well.

Whilst this is good news, as it shows the company is maturing, and he appears a very interesting addition it would be REALLY nice if the Directors (and ESPECIALLY the non-execs) showed some faith in the company they have joined (and are being paid by) by BUYING some shares. Currently none of the non-execs own any shares and neither of the Exec Directors ADD to their holdings only sell down options. It would be such a strong signal if 'those in the know' actually bought some shares for a change, especially any recent hires (I'm particularly looking at you Susan and James).

Breakfree, let's have some context please - the TOTAL volume traded so far today is LESS THAN 1% of the shares in issue, so whilst the numbers may appear large they AREN'T, this is just noise and PI's chasing spikes / FOMO / P&D etc. If any stakes are being built / disposed of they are being done very, very slowly.

Bladderman, I doubt that as that would require them to increase in value over 100 times (they are currently less than 0.2p) though if you are a P&D merchant then your message makes sense and others should be aware.

It did indeed trade at that price 3 years ago - in the time since there have been some massive dilutions and consolidations until they got to where they are now.

All recent action - with the very dramatic swings positive and negative - is just pump and dump action and the FOMO herd seeing large spikes, there is nothing underpinning any of it given that the airline isn't flying, has warned about running out of cash and is part way through a (potential) stalled buy out / take over by it largest holder.

Thinking about this and wondering what news it is associated with, and given that there is very little that the company can control the timing of.... my conclusion is the Finals rather than anything else (as orders or Chinese investment is all under the control / timing dictated by an external third party).

So if it is the Finals I think the SP will be in for a tough time (and the detractors will probably have a field day)!

Oh well not long to wait....

Given that there are now only 13 trading days left (including today) until the longstop as outlined below, it may well be worth manging expectations as to what may / can happen in that time period, especially as we know that things can easily be spun....

In the 25th March RNS the following longstop phrase is used:

"....If YG fails to procure a definitive agreement for Versarien for the first Versarien Share Subscription due by 30 June 2020...."

carefully read and understand this as it does NOT mean that the investment will have been made (ie VRS will have received any funds) just that an agreement to make the investment is received. The actual closing could then be at any point in the future, with the funds being received after that (in fact I would fully expect any Closing to be at a later date after 30th June as it involves the issue, and admittance, of further VRS shares onto AIM).

Other key things to note in the same RNS are:

- that any investment is UP TO 15% in 3 equal instalments (and NOT for 15%) and so any agreement may be for any amount UP TO 5% for the first tranche. This first amount clarifying how much the overall investment will be (ie 3 times whatever the 1st one is in number of shares)

- there is no time limit - apart from the overall 30th June 2021 longstop for the entirety of the investment - as to how quickly / by when the Closing, and hence funds, for each instalment may take to arrive

- the only timescale in relation to funds is that within 5 days of receipt by VRS 50% of those funds will be made available to a Graphene Fund for the benefit of BVT (so NOT to BVT directly)

- the money may NOT come from China, though it may well come from a Chinese entity who also operate, and thus have the capital / cash, in ANOTHER jurisdiction (IMHO highly unlikely that it will come from within China due to the exchange controls issue)

To me all of the above could be spun negatively, or misinterpreted by those that don't fully understand, and thus create negative impacts upon the SP needlessly and so please don't fall into the trap that others may wish to set for you.

With thanks to folks on the other board....

https://youtu.be/zUpUAStz3wU

Looks like BVT is up and running though HQ gets an honourable mention 2 (see 6:20 and 9:40)

I see folks on the other board are having a go at VRS (and their lack of commercial orders) by contrasting them with DCTA et al, they do so however without full context....

-2-D Tech Ltd incorporated in 2012
- DCTA incorporated in 2005
- Nanoexplore incorporated in 2011 (and is mainly a plastics business)
- 6th Element incorporated in 2011

So as you can see all have been in business longer and so should be further along the commercialisation curve - question is can VRS catch up / move ahead quicker or do we still have several years to go??

PW, the loan terms (unless they include debt for equity conversion) aren't really that material as all they will do is affect profitability, and therefore the likelihood / size of any dividend, something that is many years off (if it ever happens). The main thing that concerns me is the outcome of the arbitration hearing as this will have a much more direct, and near term, bearing upon the TSTR share price.

On the other board a claim has been made that the VWAP (over the last 20 days) in line with the Lanstead Sharing Agreement is 50.39p - approximately 94% of the Benchmark Price - in which case VRS should receive ca £236k as the first instalment early next week (perhaps as soon as Tuesday).

This is disappointing as I was hoping that the SP would stay at / above the Benchmark Price, though I suppose 'only' a 6% loss is not too bad given the usual SP performance when there are long periods of no meaningful news (especially when this has previously been indicated) should just about keep the lights on for another month if Chris has tightened the purse strings.

Looks like everything is now going to rest upon Chinese News - for which we WILL hear something (positive or negative) at some point in the next 5 weeks, if it's in anyway negative (including 'more time required') I fear the SP action will not be pretty. I also believe Chinese News will come before the Finals (which is also a good things as these too will not be a beacon of positivity either and only play into the hands of the naysayers).

Lincs, whilst it may indeed be Lansteasd - as anything over 40p is profit for them - they make even MORE money if the share price rises. I think this is caused as much by PIs at present than anything else - especially as we are currently in a 'news free zone' which makes any manipulation easier. Remember, as per my posting below if Lanstead sell more than 476,000 shares they will have to let VRS know, who in turn will have to let us know - all within 5 trading days - via a TR1, and given that we've not (yet) had such a notification I don't think it's them.

For purposes of context the 60 tonnes that has just been sold equates to about 10% more than a full days production once the plant is operating at full scale (ie 55 tonne / day) so if it took 4 months to get to that level of production we have quite a way to go.....

Only another 19,940 tonnes to go....

Seriously though given that this is a build up to full capacity year what tonnage output do we think may be produced??

- antimony = 7,000-10,000 tonnes?
- gold = 20-,000 -25,000 ozt?

Don't get me wrong would love there to be a re-rate in progress, and am certainly not complaining. I also see the recent increases in SP as helpful in regards any 'offer' that may be forthcoming as previously discussed, as it'll help underpin any value that may be 'secured' as the base for negotiations will be higher.