Member Info for GeologyStudent

I don't believe a minimum price comprises part of the terms for CLN.

A minimum price is not stipulated. The conditions are set out in the RNS.

targets are fair valuations depending on the production rate of the operation(s). The closing price in the opening day (or first few days of trading) is uncertain but Beaufort Securities expect the SP to be 0.13p or slightly higher. I hope it is 0.2p+ as this reduces the level of dilution when CLN are converted and funds are raised.

Given the potential £2.5m equity raising thus greater dilution, my new targets are as follows: Non-DMS: 0.25p; DMS: 0.45p; DMS with Matala: 0.55p.

(3) A target of 0.24p is given WITH potential of DMS accounted for. But they also used the incorrect and overinflated 'Shares post-RTO' to work out a SP of 0.24p. The potential with DMS is $74mill/£57.1mill. Dividing £57.1mill by 23bill shares results in 0.24p. However, if I'm right, 'Shares Post-RTO' should be significantly lower as 'Acquisition Shares' should be 8.8bill, not 14bill. Can someone verify my calculations.

(1) The value assigned for 'acquisition shares' is incorrect - instead of 14bill, it should be 8.8bill. As a consequence, the value for 'Shares post-RTO' is incorrect. (2) the value under 'Convertible Shares' is highly speculative depending on the price at which clients convert CLN. The value assigned under this variable is 2.2bill. This encompasses 800mill shares designated as 'Interest Shares' and 'Fee Shares'. The remaining 1.4bill shares assume that the aggregate sum of £1.8mill CLN is converted at a price of 0.13p. (3) Ignore the 0.33p valuation post-DMS. I don't know how these people come up with such tripe. The non-DMS valuation of 0.24p sounds reasonable, albeit conservative.

Hence, we are undertaking an equity fundraising. As it stands, we do not have any income generating assets as the Mowana acquisition is yet to be approved. EDIT: On the 12th May RNS (not two days ago) the company stated a ramp up in Q3 2017. The recent RNS mentions a ramp up this month. I would like to clear that up.

I agree with your assessment of my 'personality impediment'.

Your statement was based on pure speculation; not substantiated by evidence. My statement of publication in 'early June' was taken from a prior RNS, which ironically transpired to be incorrect. I will apologise when the BoD apologises for altering their dates. Moreover, it appears within the space of two days, they have changed from ramping up production from Q3 to this month.

The previous RNS stated relisting at end June. The new RNS states publication of document at end June. If that is the case, the only tenable way both can be achieved is if the document is published a week or so before end of June followed by relisting a week later. Both within the month of June.

I change my statements when there is a change in evidence, like any scientist. I do not intend to deliberately deceive any shareholder. It is clear that the BoD has changed the publication date as can be observed in prior RNS's.

They have changed their statement. The RNS on 7th June stated relisting at end of June. The new RNS states submission of document at end of June. A clear delay. It will take 1-2 weeks for shareholder approval to take place and all other requisite work to be completed after the document is published. That is my understanding.

The new RNS contradicts the RNS on the June 7th wrt readmission document submission date. ALO now aim to publish document by end of June, therefore I assume relisting will occur in July. Furthermore, an equity raising (open offer hopefully) has been indicated.

There would be no reason for a delay in the document submission (in early June) if the relisting date was reiterated for end of June 2017. It is simply insinuated.

"The Company anticipates publishing an Admission Document, and seeking re-admission to trading on AIM ("Re-Admission"), by the end of June 2017". One can deduce that the document will be released in early June, as stated in a prior RNS. Upon the submission of the document, shareholder voting will take place. If the acquisition is approved, relisting will occur at end June 2017.

those that suffer from a reading impediment, readmission document is expected early June. For those that suffer from a lack of intelligence, this means tomorrow or next week.

I'm using pre-consolidation shares in issue/SP. These will change.

(1) The acquisition of Mowana will only be made possible through the issue of 8.8bill shares therefore total shares in issue will be ~14.8bill shares inc. 'Interest shares' and 'Fee shares' (we have two CLN agreements - look back at past RNS's). You should base your SP calculations on aforementioned share capital. (2) ALO will only repay back the £0.8mill and £1mill loans if the CLN's are not converted. If the clients choose to convert CLN, additional shares will be issued to clients equivalent to £ amount converted. Depending on the price at which loan notes are converted, the enlarged share capital will be ~15.5bill instead of ~14.8bill.

An open offer to existing shareholders would be performed at a discount to SP. If funds were required after re-admission, I'd imagine the open offer would be conducted at a SP which is significantly higher than it is currently. This would reduce dilution. However, as it stands, it is clear that funds were needed imminently thus an open offer at the current SP would have been far more 'dilutionary' than the CLN.

A placing would be an alternative mode of fundraising but evidently the BoD could not secure it on terms that were acceptable to current shareholders (ie. 'prohibitively dilutionary'). Considering we are still suspended, the placing price would have been at the closing SP of suspension. This would not have been acceptable.