Member Info for flashgarden

Highly irritating.

Lets hope 'expected to complete' is more accurate than the previous 'targetted to complete'(s)...... and that all the hard work and patience pays off.

If the RTO was originally expected to complete last year and was in near final form at xmas the only reason I can see for the delay is LOGP holding off due to discussions with DECC about early settlement.

Big Kahunas v Oily Alison.

Now that's a film title.

Running out of time to complete RTO this financial year.

Being realistic I would suggest next week is the final week to announce the details of the RTO to enable the process to complete in the timescale targetted by the company in previous RNS.

So you think they are going to sell up for less than 15% current npv on a project that is about to double its mine life , on a project of global significance , in the current climate re china/us and on a project that they are on record as saying is going to define their careers? really?

Approx 4 weeks from announcing it and a general meeting till readmission to trading so not much time left if they want to complete this year.

What are opinions on the pause? Is it to give opportunity for legal teams to negotiate an early settlement prior to RTO. If so, what happens to the RTO? The RNS we have received so far have indicated that ring fencing applies to shareholdings at the time of suspension. If a settlement is agreed prior to RTO where does that leave those holding the CLN's which have all been issued post suspension.

I would prefer for DFC to come in for an equity stake in BRES initially.

With the 330k CLNs and warrants outstanding what are we looking at...1.6 billion shares??

100k at 0.1p and mcap of 1.23m when you are about to claim 100m and complete an RTO is not to be sniffed at.

It is going to be impossible to get that price when the RTO completes.

An alternative opinion that some may hold is this is a thankyou gesture to those that have loyally funded the company through a very tricky period. Those that bought on the open market at 0.1p before suspension bought with the risk of not getting litigation funding or negotiating the RTO. Although not fully complete the risk appears much less now. Well done guys but I must admit to being a little miffed at not being part of it.

They said in the 22/12 RNS that the paperwork was in near final form.

The cynical side of me thinks getting this CLN arranged is the reason for the delay. In effect it allows the privileged and tbh faithful few to complete a final buy a suspended share at the suspension price prior to the RTO.

....is this going to take.

The longer it takes the more CLN's will be required, effectively diluting existing shareholders that have not been invited to the CLN party.

330k on mcap of 1.23m is a hefty dilution.

The documents were in near final form a month ago.

The terms of the litigation funding are agreed.

Its been over 2 years since they started the RTO process.

What can be left to negotiate?

They need to inform shareholders of the proposal.

For 40% I would like to see min. £100m offered. making value of company £250m at this stage.

Hi swizz,

food for thought in you post, as always.

Please would you clarify your stance on ' 8 to 10 x mcap'.

Are you talking about lit. funding , total claim value, or giving indication on your anticipated mcap after RTO?

flash.

Surely now that the litigation funding is resolved we should hear something on the RTO in the next week.

Sounded as tho it was just crossing t's outstanding to complete the paperwork. Even with news in the next week it is going to be mid to late feb earliest before readmission.

Hopefully sooner than later.

Expectation postponed makes the heart sick. Prov 13:12

Is this a precursor to DFC taking a 40% minority stake in BRES?

Get ugandan elections out of the way in Jan (which is hopefully a formality) then DFC sign mega deal.

So LOGP bring potential for 60m+listing+historical losses to the table. Lets see if that is reflected in the proposed RTO restructure.

One aspect that needs to be agreed is in the event of an ECT award how much will be retained on the new company and how much will be paid out to existing LOGP shareholders. I think it was agreed in principle that existing shareholders would receive a substantial amount of any award but it needs defining to prevent new directors keeping the bulk of the award within the company under the guise of LTH still benefitting from ongoing investment etc but then awarding themselves incentives in order to take all the cream.

Surely the owners of the RTO company would take a substantial stake. I.e. when it comes to the value in the new company, existing shareholders of LOGP are going to have their holding diluted.