Member Info for Harris07

The placing looks ok although there is an unknown number of shares and warrants to be issued after 30 September 2024:-

"Additionally, in line with the Fundraise and to facilitate immediate free cash to be used for working capital purposes and to assist in delivering the strategy of the Company, the Directors of Blue Star have agreed to receive their remuneration in ordinary shares in the Company, in lieu of cash, on the same terms as the Placing Shares, which include Warrants, for the period between 1 February 2024 and 30 September 2024. The Directors will not be issued ordinary shares or Warrants until after 30 September 2024. A further announcement will be made in due course."

One was the now Cizzle, the other one went private after a family member of the board brought a sizeable chunk - I can't recall the name (shareholders were left with nothing). Here we've got directors with no real shares in the company according to the info above. They will still draw their salaries - no matter what. Conditions in the small sector have been bad for the last few years. This is all my opinion and I do want this share to do well.

I hope that I am wrong StockCheque. Just going on past experiences I've been in at least three shares where I've seen Spreadex TR1s followed by non-protected portfolio transactions followed by RTO or end of company.

Now that the non-protected portfolio transaction has popped up I’m even more convinced that the company is on its way out entirely or there is an rto on the cards. This is just my opinion.

In the placing rns they also mentioned that:-

256,889,280 shares went to the directors (including 100 million to CB) for fees for the period Jul - Nov 23 or Aug - Nov 23

242,000,000 shares went to the consultants for fees Jul - Nov 23.

This leaves 2.449 billion shares unaccounted for (about 22.5% of the total shareholding)

On the last raise so far we know the following took shares:-

Christian Cordier (director at African Pioneer with CB) - 144 million

Colin Bird - 40 million

Raju Samtani (Finance Director BZT) - 48 million

This leave 2.948 billion shares unaccounted for - 27% of the total shares.

Looking at the previous large investors we know that Tiger Royalties & Investments PLC is Raju's company.

Sanderson Capital Partners Ltd - the director is Tanvier Malik (in November 2023 he held just under 10% of the company).

Tavira Securities Ltd - the chairman is Eliot Goodfellow who held (I think!) 3% of the company in November 2023.

It really a shame because I do believe there will be a bull run on copper but like Leyla my expectations are non-existent given CBs past actions.

I think given past performance probably should write off any money invested here. CB's past performance would indicate that the only way is down for the share price in the long term.

Howezap, also the analogy robbing Peter to pay Paul wouldn’t apply here. As CB has robbed XTR to buy options for himself. The raise was around 30% lower than the previous closing price, diluting existing shareholders considerably yet, his own position is strengthened.

Really wouldn't read too much into that. Could be a trader hoping to get a price increase to make 10% before Christmas.

Not sure of the long term prospects of this company - I do think that as a cash shell alone it is worth more than 750k and my target is £3 million (which is 4 times its current value). I know Phimx and the buffalo will disagree. Given the history of the company this is as high risk as AIM gets IMO.

Yes Mr T, you are being rather kind in your assessment. I have plenty of patience - even mine has worn out on CB and this company. Do update us if you get a response.

Hmmm… Howezap you sound like you are PR for either CB and or the group of his company.

If what you say is true Howezap, that the companies are managed with the right people in place and the strength of the companies will allow it to survive in the next few years then the only people who will get shafted will be the PIs.

The only conclusion I can see here is that CB is hoping that the assets will be worth something and is looking to sell up. The problem with this theory though is I don’t think that money is CBs main motivating factor. Yes, he has an immediate need for money but at 80 years old with lots of companies to manage - I think he probably has sufficient resources to retire. The questions I have is what is the quality of the team like at bzt, what is the successor policy? Copper mines are taking a long time to get into commission. If you think that we are heading for a bull run on copper in the next two years - how can bzt survive and capitalise from this.

Had high hopes here :-(

I agree with Snowdrops here. Everybody seems to be looking for a 10 bagger overnight and it is really unrealistic. There will be ups and downs with shares and for the average AIM investor you are looking at a longer term holding. Well done to anyone who can successfully trade on AIM - not a skill I have.

I may be way off the mark here (memory is not what it used to be.) In the past with shares when i've seen a spreadex tr1 an rto has been around the corner - it may just be a coincidence.

Not in here.

Looking at the trades - i wonder whether the trades at 10:53 (1.3 million) and 13:00 (1 million) were also buys too.

Difficulty with the AIM market is it is high risk. When it goes wrong you risk losing your entire holding and when it goes right the returns can be phenomenal. There's so much unrealistic expectations on the boards. I'm looking for a good return on my investment here and understand it might take time. Currently underwater here and still holding.

Thanks for the information lptuf93 - maybe wishful thinking on my behalf about it being a copper and zinc miner. Will have to do some research on the company.