Member Info for harford

Longknife I don't think that's correct. The $23m will pay off the Russian shareholders in cash. We will get 0.00687 shares in TBN per FOG share which at $31 is equivalent to 29.7 CAD cents, 15.8 UK pence

Surely TBN at $31 USD is 21.3 US cents to FOG holders (3100*0.00687)? This would be 29.7 CAD cents, 15.8 UK pence?

The shares have been suspended for almost two years, it's inevitable some holders will just want to get out at any price when they come out of suspension.

However I think this appointment is intriguing and could lead to some decent upside if a good deal in a popular sector can be done.

Only yesterday Cavendish put out a note on FOG with the same 32p target price. Looks like they have been blindsided by this sell out too.

So after all these years of waiting we finally get the takeover RNS we have longed for. The fact the shares are currently up only 6% in London tells you everything you need to know about how poor this deal is for us.

So are Mr £100k and Mr Reid one and the same person? Seems likely, I wonder what plans he has?

I think we can only assume they have some sort of deal pending, perhaps involving their new £100k investor. Otherwise why else would they keep the shares suspended more than two weeks after publication of the accounts?

I wonder if Mr 100k investor has an RTO lined up and so no point coming out of suspension?

Not only interest free but pretty risky given the parlous state of the company's finances. It says the money is "to be utilized in agreement with the investor" - interesting... so clearly a "hands on" investor who may already have some ideas as to the sort of direction he wants the company to go in.

We don't know, unfortunately Afzal does not seem keen on communicating with shareholders so we have no idea why he bought in here or what he has planned.

I was never inspired by the Philippine healthcare business, perhaps now as a shell we can do something a bit more exciting as mentioned.

Afzal has had 16 months to do a deal but seems to be struggling to find a suitor as mentioned in the Annual Report.

9th November 2023 - 'Temporary' suspension.

1st December 2023 - 'Whilst the Directors are confident that the Proposed Reverse Takeover will be concluded prior to the end of the first quarter of 2024..'.

We're now in Q3 2025!

No problem with the management options but why extend the 200m 2p investor options for another year? There's no obligation to do so and it doesn't exactly inspire confidence in the future share price direction. If the share price does do well they will end up giving away a big chunk of equity on the cheap. Doesn't make sense to me unless they think the share price is going to struggle to reach over 2p in the next 17 months.

200 million warrants at 2p expiring 9/11/25. Big dilution so in some ways it might be better if we stay below 2p until they expire. Having said that it would bring in £4m if they were all exercised. Worse case scenario would be if we popped up to 4/5/6p+ and ended up giving away a big chunk of equity at 2p when the warrants were exercised.

Gold expert John Rubino in his latest substack:

"Gold is holding its gains even as it moves into its seasonally weakest stretch. No “sell and May and go away” so far. This is great news for gold miners, which are seeing their revenues outpace their costs, dramatically widening their profit margins. Wider margins mean more cash flow, which in turn means higher capital spending.

The miners underinvested during gold’s long doldrums, and now have to catch up by finding and/or buying more ounces in the ground.

A growing share of this capex will be in the form of M&A, as big miners buy smaller ones at ever-more-favorable premiums."

Last paragraph bodes well for MILA.

Another big sell today at 0.32p, seller not done yet.

5m shares dumped at 0.3013p. Market cap now below last reported cash in bank.

Still only £600k market cap, even after today's rise.

All going very well over at Sterling metals, up over 50% since the recent oversubscribed placing. Drill program underway: https://money.tmx.com/en/quote/SAG/news/6514054861419302

How long before we see this increasingly valuable asset reflected in CHF's share price?