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A poster has said can we now stop claiming Leap is a £100 million company. Absolutely not we have good grounds to support that value. Let’s not forget that it was Ed over a year ago that said comparable companies had valuations of £100 million +. We know with all the recent deals and the recent UK license which will immediately open lucrative new deal that the revenues will be increasing rapidly. We also know that companies like Leap are valued on multiples of their revenues and that multinational the 30’s are not uncommon.
So let’s conservatively assume the revenue this year will be at least £3.5 million and apply a 30x multiplier. That would value Leap at £105 million. Revenue of £4 m would give £120 million.
It seems to me that todays RNS is very good news and although the liquidity event which now looks like a reverse takeover is pushing the deal back a few more months, the value of Leap will continue to rise.

£750000 should see the BFS issued. If it was the case that they needed further cash after that there are other options than a placing. I am invested for instance in a Royalty company that has advanced cash at the pre production stage in return for a royalty on future production of gold and other commodities. As I said earlier I believe Mark will make every effort to avoid further dilution as he has already dropped below the 3% holding that requires notification.

I agree with you Markjenn53 that a sale of Leap is more likely than an IPO and that IMG is the most obvious buyer as they work so closely with Leap. It’s not yet 3 weeks since they got the long awaited UK license and I think Ed was telling us that was the last piece of the jigsaw. I hope the current sell off by the short term traders causes them to get their figure’s severely burnt. Just remember how quickly the EMMAC sale occurred after Ed said in a presentation that he was working on the IPO.

It is worth reminding some posters what was actually said in the Leap Update RNS on 24th May. Here is an extract:
“ The long-awaited content supply license is a significant milestone for Leap, allowing it to access the lucrative UK gaming market, which, according to the Gambling Commission, the regulated gambling industry in Great Britain generated a gross gambling yield ("GGY") of £14.1bn during the period April 2019 to Mar 20201. The license is expected to unlock a great number of immediate opportunities for Leap for its existing content portfolio through its current estate and immediate pipeline. The UKGC license is added to the other recent licenses obtained by Leap in Sweden, the Netherlands, Romania, South Africa and Greece.



Ed McDermott, CEO of SEED, commented: "We are extremely pleased to see the UK license finally awarded to one of our long-term investments, Leap. We feel this key milestone was critical before any liquidity event for Leap's shareholders. The board of Seed and I want to congratulate the team at Leap for their hard work and patience to get to this point. I will continue to work tirelessly alongside Yariv and the board to see through a public listing".
Note particularly “We feel this key milestone was critical before any liquidity event for Leap’s shareholders “.
They have clearly been waiting for this for longer than they expected. One would imagine most of the other work was largely completed on the basis that this would happen. Now it has that is a major point ticked off and hopefully the last one before launching the IPO or completing a sale. The sale could happen anytime without prior notice until the RNS lands just like EMMAC. Take the agenda driven posts of the traders with a pinch of salt.

It looks like you have answered your own question about the short term cash boost that may be required soon. As you say you would have to be mad not to take up shares trading at 30p (and worth considerably more) for 25p. The warrant holders are presumably existing large shareholders so it’s clearly in their interests to help the company with this cash injection which was the intention of issuing the warrants in the first place.

The New York presentation looks very like a sales pitch to a prospective bidder for Condor. Much emphasis on how with a another drilling campaign there should be 5 million ozs of gold.
Also just note that Marks holding of 4 million shares now gives him just 2.9% of the company. He has suffered considerable dilution over the years. Does he really want to suffer further dilution by raising more funds at the current sp level? I would think the answer is know. A sale certainly looks the best option for him at this point so the sooner the BFS is issued the better to get the sp up and facilitate a sale. Perhaps with people in the data room that process is already in motion.

This is what is happening today in relation to the Open Offer and GM:
Latest time and date for receipt of Open Offer application forms and payment in 11.00 am on 8 June*
full under
the Open Offer and settlement of relevant CREST instructions (as appropriate)
Latest time and date for receipt of Forms of Proxy and CREST voting instructions

Tomorrow they will announce the results of the Open Offer confirming your basic entitlement and stating how the excess requests will be dealt with subject to approval at the GM on Friday 10th June.

You will find you haven’t been awarded an excess yet. What II have done is enter the number of excess shares you applied for plus the cost of those shares as a minus amount. When the number of excess shares is actually determined at the end of the week they will announce the % scale back to be applied if which is likely there are not enough shares to meet all the excess requests. II may possibly be able to enhance your % because II can over apply as they are actually the shareholder.

This just posted on another bb:
“ https://www.africaintelligence.com/central-and-west-africa_business/2022/06/07/totalenergies-hitches-its-wagon-to-chariot-s-vast-hydrogen-project,109790178-art”
My comment on it as you can only see the start of the article is Totalenergies hitching it’s wagon to Chariot’s vast hydrogen project is exactly what you expect and hope for as a Chariot shareholder. Two strands of the business working together on a massive project. It has been said by the company that each of the 3 businesses have the possibility to become £1 billion companies in their own right and we can see here how they are helping that to happen.
Chariot keeps delivering and the news flowing. Looking forward to my open offer shares and some of the excess shares arriving in my account next Monday ready for the next move up as the news keeps flowing.

Looks like a rise back above 1p is underway as we await the seismic results which could land at any time.Infrastructure announcements on Pipelines are imminent says the President of Tanzania just as a very favourable report on the future value of AEX is published. The broker report is looking at a 30 bagger to 100 bagger depending on the drilling in November. Make your own mind up on how they arrive at their figures but there can be little doubt that AEX is worth many multiples of its current sp and market cap of just £36 million.

Sniper88 is correct the money for all the excess shares you applied for will be deducted from your account in full. At the end of the week CHAR will announce how many excess shares are available when they know how many shares have been taken up in the initial open offer. They will then scale back the excess allocation requests depending on the number of shares available. You will get a scaled back % of what you applied for. If you hold your shares through a brokers nominee account you may get a higher % from their pool. You will then get the cash returned in relation to the shares you didn’t get. That is what happen on the previous CHAR open offers and is normal practise.

We are due an announcement about a new gas venture before we get the report according to the timeline in the last presentation, so perhaps we will get that this week and the CPR next week following the General Meeting and all the new shares being in everyone’s accounts. Good rise now up 9.5%.

We know from the timeline that CHAR will announce a New Gas Venture before releasing the CPR. Could it be the case that the new gas deal will be with the company from Israel?

Apologies I meant to say end of Q2!

Leap just continues to become more valuable everyday as it reaps the benefit of being authorised in increasing numbers of jurisdictions. The Malta, Gibraltar and most recently UK are particularly important and would be very valuable to a bidder.
Let’s see if June and the end of H2 delivers LEAP’s liquidity event.

If it’s out by a factor of 10 and we go to 10p I would be happy!

I do not agree with cryptobot as I believe Pendulum is moving forward as fast as it to launch its product. Pendulum is eagerly awaited by many companies in the di/fi space as it will transform their businesses in the way Satoshipay expect it to transform Dtransfer. Pendulum will achieve a substantial increase in its valuation and even it was only 50% of what has been predicted it would still be transformational for BLU’s sp. He has his defensive stance which is fine but having dropped to our current level the risk of missing out on a major rise on news dropping is not for me and I will remain fully invested.

I agree with Perspicacity that there will most likely be upside on the 1tcf stated in the latest presentation when the CPR is issued. It just makes sense to over deliver in the CPR to ensure further positive publicity.
All the new shares will be in shareholders accounts on 13th June and I am hoping we will be at a new 52 week high by the end of June as a result of the CPR and whatever the new gas venture is that will precede the CPR. Exciting times to be a CHAR shareholder.

Good post CS summing up the situation perfectly. Now Up 5% at 7.4p on volume of 900000.

No